BMO Capital Markets has maintained its Market Perform rating on Everest Group (NYSE: EG) with a consistent price target of $403.00.
The firm highlighted the release of Everest's annual Global Reserving Triangles, which provides an overview of the company's reserves.
Despite this new information, BMO Capital advises investors to depend on their more detailed statutory reserving analysis.
The annual Global Reserving Triangles from Everest offers insight into the company's reserves, yet BMO Capital suggests that its own statutory reserving analysis presents a more comprehensive picture due to its finer granularity compared to statutory requirements.
According to BMO Capital, Everest's recent data lacks the depth found in statutory disclosures.
BMO Capital's updated statutory analysis includes a new examination of approximately $1.8 billion in Reinsurance-only casualty/lawsuit reserves. These reserves are part of U.S. statutory disclosures but were not previously factored into BMO Capital's annual review of the company's reserves.
The firm emphasizes the importance of its statutory reserving analysis for investors interested in Everest Group, suggesting it offers a more accurate assessment of the company's financial standing in terms of reserves. The approach appears to provide a more detailed evaluation than what is available through Everest's own reporting.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.