Everest Re Group saw its fourth-quarter profit jump 43 percent to $58.8 million compared to $41 million in the 2011 quarter — despite Hurricane Sandy and record crop losses.For the whole of 2012, Everest reported net income of $829 million, or $15.79 per diluted common share, compared to a net loss of $80.5 million, or $1.49 per common share, for 2011.The Bermuda reinsurer’s chairman and CEO Joseph V Taranto said: “Despite losses from Sandy and the industry suffering record crop losses, Everest had $1 billion in comprehensive income for 2012 and increased shareholder value by 18 percent. These results demonstrate the strength of our organisation. We are pleased with how our portfolio is positioned post January renewals and expect another strong year in 2013.”The company said its gross written premiums rose four percent to $1.15 billion in the fourth quarter.It said worldwide reinsurance premiums were generally flat while direct insurance premiums were up 21 percent in the period.For the full year, gross written premiums totalled $4.3 billion and, after adjusting for the impact of foreign exchange and reinstatement premiums, were up two percent compared to last year.Everest Re’s combined ratio was 108.4 percent for the fourth quarter and 93.8 percent for the year, compared to 130.3 percent and 118.5 percent, respectively, for the same periods in 2011.As previously announced, the company said fourth quarter included losses for Superstorm Sandy, which, on a net pre-tax basis, after reinstatement premiums, amounted to $287 million.For the full year, net pre-tax catastrophe losses totalled $361 million.Net investment income amounted to $146 million for the quarter and $600 million for the full year 2012.For the year, Everest said its after-tax operating income return on average adjusted shareholders’ equity was 12 percent and net income return on equity was 14 percent.