Everest Re Reports 89% Drop In Quarterly Income
NU Online News Service, Oct. 19, 3:10 p.m. EDT? The St. Michael, Barbados-based reinsurer Everest Re Group Ltd. reported its third-quarter net profit has fallen by 88.6 percent, hurt by hurricanes that devastated parts of the southeastern United States as well as typhoons in Asia.[@@]
The reinsurer's third-quarter net income?which includes realized capitalized gains and losses, dropped to $11.5 million?down significantly from $100.3 million in profit reported during the corresponding period one year ago.
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