ITEM 2.02 DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On August 5, 2020, the registrant issued a news release announcing its second
quarter 2020 results. A copy of that news release is furnished herewith as
Exhibit 99.1 and is incorporated herein by reference.
The news release furnished herewith contains information regarding the
registrant's operating income (loss). Operating income (loss) differs from net
income (loss) attributable to Everest Re Group, the most directly comparable
generally accepted accounting principle financial measure, by the exclusion of
realized capital gains (losses) on investments and net foreign exchange income
(expense). Management believes that presentation of operating income (loss)
provides useful information to investors because it more accurately measures and
predicts the registrant's results of operations by removing the variability
arising from both the management of the registrant's investment portfolio and
the fluctuations of foreign currency exchange rates. In addition, management,
analysts and investors use operating income (loss) to evaluate the financial
performance of the registrant and the insurance industry in general.
In accordance with general instruction B.2 of Form 8-K, the information in this
report, including exhibits, is furnished pursuant to Item 2.02 and shall not be
deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934, or otherwise subject to the liability of that section.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit No. Description
99.1 News Release of the registrant,
dated August 5, 2020
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