ST. MICHAEL, Barbados - June 18, 2002 -- Everest Re Group, Ltd. (NYSE: RE) announced today that its estimated 2003 operating earnings per diluted share, absent any unusual loss or market activity is expected to be in the range of $6.60 - $7.20. The Company also reaffirmed its 2002 estimate of operating earnings per diluted share of $5.50 - $6.00, absent any unusual loss activity. Pursuant to its normal practice, the Company will address these estimates in its quarterly conference call, scheduled for July 23, 2002.
Statements made in connection with this release that are not purely historical may be deemed forward-looking statements. Such statements, including in particular any Company estimates of losses and reinsurance recoveries, together with estimates of future earnings and premium volume, are subject to various risks and uncertainties, including but not limited to the impact of competition, product demand, insurance and reinsurance pricing, trends in paid and incurred losses, catastrophes, interest rates and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could cause the Company's actual results to differ materially from those expressed in any forward-looking statement that may be made by or on behalf of the Company. The Company undertakes no obligation to publicly update or revise any forward-looking statements, including estimates of future earnings, whether as a result of new information, future events or otherwise.
Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the US and international markets. Everest Reinsurance (Bermuda), Ltd. provides reinsurance to property and casualty and life insurers in both the Bermuda and international markets. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the United States. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the United States. Additional information on Everest Re Group companies can be found at the Group's web site at www.everestre.com.
