RE - Everest Re targets shareholder return exceeding 13% for 2023

magical_light/iStock via Getty Images Everest Re (RE) is lifting its total shareholder return goal for 2023 to exceed 13%, up from its near-term total shareholder return performance of ~11%, according to the company's investor day presentation. Under its three-year strategic plan, the company targets 10%-15% compound annual growth rate for its Group gross written premium, 8%-12% CAGR for reinsurance GWP, and 18%-22% CAGR for Insurance GWP. In capital management, RE targets 15%-20% long-term debt leverage ratio. Assumes 91%-93% combined ratio. Last week, Citi analyst Suneet Kamath downgraded Everest Re to Neutral from Buy as he expects inflationary pressures to translate to higher claim costs.

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Everest Re targets shareholder return exceeding 13% for 2023