Everest Group increases casualty loss reserves by $1.7B.

[Chris]

Everest Group recently shared its preliminary earnings for 2024, revealing a significant 45% decline in net income largely due to a $1.7 billion increase in casualty insurance reserves. Interestingly, the company writes over double the amount in reinsurance premiums compared to direct insurance premiums. This raises compelling questions about the dynamics of the insurance market and how reserve adjustments can impact overall profitability.

In light of these figures, it's essential to consider the potential implications for both the industry and policyholders. Could this move suggest a broader trend in the insurance sector?

I'd love to hear your thoughts on how reserve strategies might shape the future of insurance profits and protection. View the full details of the article here.