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Despite experiencing an adverse loss development of $300 million from 2005 storms and asbestos losses, Everest Re reported its best earnings year ever.

The Bermuda-based company’s full-year 2006 net income figure of $840.8 million, or $12.87 per share, compared to a bottom-line net loss in 2005 of $286.1 million, or $4.96 per share.

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