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Everest Re net income climbs YOY in Q4'17

Everest Re Group Ltd. reported fourth-quarter 2017 net income of $571.0 million, or $13.85 per common share, up from $373.6 million, or $9.08 per common share, in the year-ago period.

Fourth-quarter 2017 after-tax operating income, which does not include realized capital gains and losses and the tax charge related to the enactment of the Tax Cuts and Jobs Act of 2017, came in at $556.0 million, or $13.48 per common share, compared with $363.4 million, or $8.83 per common share, in the prior-year period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $5.29.

For full year 2017, the company reported net income of $469.0 million, or $11.36 per common share, compared with $996.3 million, or $23.68 per common share.

After-tax operating income, excluding realized capital gains and losses and the tax charge related to the enactment of the tax reform law, was $375.4 million, or $9.10 per common share, for 2017, compared with $993.5 million, or $23.61 per common share, in 2016.

The S&P Capital IQ consensus normalized EPS estimate for the year was 88 cents.