Everest Re Group, Ltd. (RE) Q4 2022 Earnings Conference Call February 9, 2023 8:00 AM ET
Company Participants
Matthew Rohrmann - SVP, Head of IR
Juan Andrade - President, CEO
Mark Kociancic - EVP and CFO
James Williamson - EVP, Group COO and Head of Everest Reinsurance Division
Michael Karmilowicz - EVP and President and CEO of the Insurance Division
Conference Call Participants
Yaron Kinar - Jefferies
Brian Meredith - UBS
Meyer Shields - KBW
Elyse Greenspan - Wells Fargo
Charles Peters - Raymond James
Michael Zaremski - BMO
Ryan Tunis - Autonomous Research
Operator
Good day, and welcome to the Everest Re Group, Ltd. Fourth Quarter of 2022 Earnings Conference Call. [Operator Instructions] Please note today's event is being recorded.
I would now like to turn the conference over to Matt Rohrmann, Senior Vice President and Head of Investor Relations. Please go ahead.
Matthew Rohrmann
Good morning, everyone, and welcome to the Everest Re Group, Ltd. fourth quarter of 2022 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're 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 statements.
With that, I'll turn the call over to Juan.
Juan Andrade
Thank you, Matt. Good morning, everyone. Thank you for joining us.
Everest's excellent fourth quarter performance capped another strong year of consistent execution of our strategy and continued positive momentum. We advanced our objective of creating sustainable value for our shareholders with disciplined underwriting and targeted growth driving margin expansion in both businesses.
We increased diversification in each of our segments both geographically and by product line. When you combine all of this with healthy and consistent rate increases and improved terms, our risk adjusted return profile improved across the Board.
Both franchises delivered solid top and bottom line performance. We profitably grew our primary insurance division and executed an outstanding January 1 reinsurance renewal. This further reinforced our global market leadership and positions Everest well for the future.