Strong quarter: Jim Williamson, CEO of Everest Group (Photograph supplied)Everest Group recorded second-quarter net income of $559 million, down more than 17 per cent from the same period last year. The group’s core businesses — reinsurance treaty and global wholesale and specialty — generated $317 million of underwriting income on a combined ratio of 90 per cent, while the overall group reported underwriting income of $281 million and a combined ratio of 92 per cent. A combined ratio below 100 per cent indicates an underwriting profit. “Everest delivered a strong quarter driven by meaningful contributions from both underwriting income across our core businesses and investments,” he said. Net investment income was $523 million, down slightly from $532 million reported a year earlier, reflecting lower returns from alternative investments.