Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
Everest Group's Claims Ratio % for the quarter that ended in Dec. 2023 was 63.00%
, which is lower than
63.90% for the pervious quarter ended in Sep. 2023.
Everest Group's Claims Ratio % for the annual that ended in Dec. 2023 was 62.70%
, which is lower than
68.70% for the pervious year ended in Dec. 2022.
The historical rank and industry rank for Everest Group's Claims Ratio % or its related term are showing as below:
EG's Claims Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Claims Ratio % only.
Everest Group Claims Ratio % Historical Data
The historical data trend for Everest Group's Claims Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Everest Group's Claims Ratio %
For the Insurance - Reinsurance subindustry, Everest Group's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Everest Group (NYSE:EG) Claims Ratio % Calculation
Claims Ratio % is calculated as
Claims Ratio %
=
Total Claims
/
Total Premiums Earned
*
100%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Everest Group (NYSE:EG) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
Everest Group Claims Ratio % Related Terms
Thank you for viewing the detailed overview of Everest Group's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Everest Group (Everest Group) Business Description
Everest Group Ltd is engaged in providing insurance services in the U.S., Bermuda, and international markets. It operates in Reinsurance and Insurance business. The Reinsurance operation writes property and casualty reinsurance and specialty lines of business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies. The Insurance operation writes property and casualty insurance directly and through brokers, surplus lines brokers, and general agents within the U.S., Bermuda, Canada, Europe, and South America.
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