AM Best Comments on Credit Ratings of Everest Group, Ltd. and Its Subsidiaries Following Recent Earnings Release
Everest Group, Ltd. (EG)
Company Research
Source: Business Wire
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating subsidiaries of Everest Group, Ltd. (Bermuda) [NYSE: EG] (collectively referred to as Everest) remain unchanged following the recent earnings release and associated $1.7 billion of net reserve strengthening reported. Additionally, AM Best has commented that the Long-Term ICRs of “a-” (Excellent) of Everest Group, Ltd. and Everest Reinsurance Holdings, Inc. (Delaware), and the Long-Term Issue Credit Ratings (Long-Term IR) of Everest Reinsurance Holdings, Inc. remain unchanged as well. The outlook of these Credit Ratings (ratings) is stable.The ratings reflect Everest’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very favorable business profile and appropriate enterprise risk management for the group’s risk profile.Eve
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- Everest Group (NYSE:EG) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating.MarketBeat
- Everest Group (NYSE:EG) was given a new $359.00 price target on by analysts at Mizuho.MarketBeat
- Everest Group (NYSE:EG) had its price target lowered by analysts at TD Cowen from $400.00 to $365.00. They now have a "hold" rating on the stock.MarketBeat
- Everest Group (EG): Reassessing Valuation After Sweeping Finance and Risk Leadership Changes [Yahoo! Finance]Yahoo! Finance
- Everest Announces Key Leadership AppointmentsBusiness Wire