Hurricanes sent Everest Re Group, Ltd. to a significant fourth quarter 2005 loss of $162.2 million or $2.63 per share compared to earnings of $93.3 million or $1.64 per share in the fourth quarter 2004. The company previously boosted loss estimates from Hurricanes Katrina, Rita and Wilma to $422 million or $1.66 per share for the fourth quarter of 2005.

The Bermuda-based company posted a $185.8 million fourth quarter 2005 operating loss last night, compared to an operating income of $94.7

Chairman and chief executive officer, Joseph V. Taranto said: ?We are disappointed by the extreme nature of the events that led to the significant loss for the year but point to the fact that our business fundamentals remain strong. Our business strategy, while not without risk, remains targeted at providing superior shareholder returns over the long term.?

The loss for the full year 2005 was $218.7 million, or $3.79 per share, as compared to net income of $494.9 million, or $8.71 per share, in 2004.