Everest Re Group says second-quarter net income increased about 28.4 percent to $275.6 million on a rise in premiums.
The Hamilton, Bermuda-based insurers says second-quarter gross written premiums were up 39 percent, compared to the same period a year ago, to $1.26 billion—primarily driven by a large Florida quota share reinsurance contract.
Without this contract, second-quarter gross written premiums were up 11%, as reinsurance premiums were up about 7 percent worldwide, reflecting new business growth, says Everest Re.
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