Everest Group, Ltd. (NYSE:EG) Q2 2023 Earnings Conference Call July 27, 2023 8:00 AM ET
Company Participants
Matthew Rohrmann - Senior Vice President, Head of Investor Relations
Juan Andrade - President and Chief Executive Officer
Mark Kociancic - Executive Vice President and Chief Financial Officer
James Williamson - Executive Vice President, Group Chief Operating Officer and Head of Everest Reinsurance Division
Michael Karmilowicz - Executive Vice President and President and Chief Executive Officer of the Insurance Division
Conference Call Participants
Elyse Greenspan - Wells Fargo
Yaron Kinar - Jefferies
Michael Ward - Citi
Gregory Peters - Raymond James
Michael Zaremski - BMO
Brian Meredith - UBS
Meyer Shields - Keefe, Bruyette & Woods
Operator
Good morning, everyone, and welcome to the Everest Group Limited Second Quarter of 2023 Earnings Conference Call. The Everest executives leading today’s call are Juan Andrade, President and CEO; and Mark Kociancic, Executive Vice President and CFO. We are also joined by other members of the Everest management team.
Before we begin, I will preface the comments on today’s call by noting that Everest SEC filings include extensive disclosures with respect to forward-looking statements. Management comments regarding estimates, projections and similar are subject to the risks, uncertainties and assumptions as noted in these filings. Management may also refer to certain non-GAAP financial measures. These items are reconciled in our earnings release and financial supplements.
With that, I’ll now hand the call over to Matthew Rohrmann.
Matthew Rohrmann
Good morning, everyone, and welcome to the Everest Group Limited Second Quarter of 2023 Earnings Conference Call. The Everest executives leading today’s call are Juan Andrade, President and CEO; and Mark Kociancic, Executive Vice President and CFO. We are also joined by other members of the Everest management team.
Before we begin, I will preface the comments on today’s call by noting that Everest SEC filings, including extensive disclosures with respect to forward-looking statements. Management comments regarding estimates, projections and similar are subject to the risks, uncertainties and assumptions as noted in these filings. Management may also refer to certain non-GAAP financial measures. These items are reconciled in our earnings release and financial supplement.
With that, I’ll turn the call over to Juan.
Juan Andrade
Thank you, Matt. Good morning, everyone. Thank you for joining us. Everest second quarter performance was outstanding. We grew the business at significantly expanded margins, taking full advantage of the hard reinsurance market and delivered industry-leading returns, including a near 22% operating return on equity and a record annualized 25% total shareholder return.