Please wait

 
EXHIBIT 12.2
 
 
Everest Re Group, Ltd.
  
Ratio of Earnings (Losses) to Fixed Charges (excluding Annuity Interest Expense) (1)
  
(Dollars in thousands)
  
                                                 
                                                 
                                                 
   
Six Months Ended
              
   
June 30,
    
Years Ended December 31,
  
   
2018
    
2017
    
2017
    
2016
    
2015
    
2014
    
2013
    
2012
  
Earnings:
                                                
Income (loss) before income taxes (benefits)
  
$
278,406
    
$
613,946
    
$
405,184
    
$
1,099,844
    
$
1,111,890
    
$
1,386,808
    
$
1,549,088
    
$
939,526
  
                                                                 
Fixed Charges:
                                                                
Assumed interest component of rent expense
    
3,519
      
2,747
      
5,847
      
5,299
      
4,796
      
4,656
      
4,322
      
4,251
  
Interest expense on debt and long term notes
    
15,146
      
17,023
      
31,603
      
36,228
      
36,191
      
38,533
      
46,118
      
53,683
  
Total fixed charges
    
18,665
      
19,770
      
37,450
      
41,527
      
40,987
      
43,189
      
50,440
      
57,934
  
                                                                 
Earnings plus fixed charges
  
$
297,071
    
$
633,716
    
$
442,634
    
$
1,141,371
    
$
1,152,877
    
$
1,429,997
    
$
1,599,528
    
$
997,460
  
                                                                 
Ratio of earnings (losses):
                                                                
Earnings (losses) plus fixed charges to fixed charges (2)
    
15.92
      
32.05
      
11.82
      
27.49
      
28.13
      
33.11
      
31.71
      
17.22
  
                                                                 

(1) For purposes of determining this ratio, "earnings" consist of consolidated net income before federal income taxes plus fixed charges. "Fixed charges" consist of interest expense on senior debt, subordinated debt, amortization of bonds, revolving credit agreements and that portion of operating leases that are representative of the interest factor.
(2) Although the ratio excluding interest on annuities is not required or encouraged to be disclosed under applicable SEC rules, it is presented because interest credited to annuity policyholder accounts is not always considered a borrowing cost for an insurance company.