Everest Re beats 1Q profit forecasts

HAMILTON, Bermuda (AP) _ Everest Re Group Ltd. (RE) on Monday reported first-quarter earnings of $291.6 million.

The Hamilton, Bermuda-based company said it had profit of $7.07 per share. Earnings, adjusted for investment gains, came to $6.29 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $5.36 per share.

The reinsurance company posted revenue of $1.48 billion in the period. Its adjusted revenue was $1.43 billion.

Everest Re shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $239.38, a climb of 24 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RE at https://www.zacks.com/ap/RE

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