Everest Re Group, Ltd. RE delivered first-quarter 2021 operating net income per share of $6.49, which beat the Zacks Consensus Estimate by 41.4%. The bottom line improved 61% year over year.The quarter witnessed higher premiums and improved net investment income, offset by higher expenses.Everest Re Group, Ltd. Price, Consensus and EPS Surprise Everest Re Group, Ltd. price-consensus-eps-surprise-chart | Everest Re Group, Ltd. QuoteOperational UpdateEverest Re’s total operating revenues of $2.7 billion increased 22.5% year over year on the back of higher premiums earned and net investment income.Gross written premiums improved 14% year over year to $2.9 billion. The company’s worldwide reinsurance premiums increased 15.8% year over year to $2 billion, driven by rate, increased share on profitable deals, and new opportunities in property, casualty, specialty lines, and facultative business. Direct insurance premiums increased 10% to $872.4 million, driven primarily by notable growth in specialty casualty, property/short-tail and professional liability classes of business, offset by reductions in workers’ compensation as the company sought growth in lines with more attractive pricing.Net investment income came in at $260.4 million in the quarter under review, up 76.2% year over year.Total claims and expenses increased 17% to $2.4 billion, attributable to higher incurred losses and loss adjustment expenses, commission, brokerage, taxes and fees, other underwriting expenses, corporate expenses and interest, fees and bond issue cost amortization expense.Underwriting income was 45 million, which increased 58.1% year over year. The Reinsurance segment recorded underwriting income of $44.8 million, which decreased 10.5% year over year. Underwriting income in the Insurance segment was $0.4 million against the year-ago loss of $21.5 million.Combined ratio improved 50 basis points (bps) to 98.1%. Excluding catastrophe loss, attritional combined ratio was 87.2%, up 1010 bps from the prior-year period.Combined ratio deteriorated 90 bps to 97.5% in the Reinsurance segment while the same improved 400 bps to 99.9% in the Insurance segment.Pre-tax catastrophe losses were $260 million, which increased more than eight-fold from the year-ago quarter.Financial UpdateEverest Re Group exited the quarter with total investments and cash of $25.9 billion, up 1.9% from 2020-end level. Shareholder equity at the end of the reported quarter remained flat from 2020-end at $9.7 billion.Book value per share came in at $241.57 as of Mar 31, 2021, up 12.6% from 2019-end level.Annualized net income return on equity expanded 1420 basis points to 15% in the first quarter of 2021.Everest Re Group’s cash flow from operations was $904 million, up 78.6% year over year.The company bought back shares worth $23.5 million in the quarter.Zacks RankEverest Re Group currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other InsurersThe Progressive Corporation’s PGR first-quarter 2021 earnings per share of $1.72 missed the Zacks Consensus Estimate of $1.78.The Travelers Companies’ TRV first-quarter 2021 earnings per share of $2.73 beat the Zacks Consensus Estimate of $2.44.W.R. Berkley Corporation’s WRB first-quarter 2021 earnings per share of $1.08 beat the Zacks Consensus Estimate by 21.3%.These Stocks Are Poised to Soar Past the PandemicThe COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.See the 5 high-tech stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Travelers Companies, Inc. (TRV): Free Stock Analysis Report W.R. Berkley Corporation (WRB): Free Stock Analysis Report Everest Re Group, Ltd. (RE): Free Stock Analysis Report The Progressive Corporation (PGR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research