Everest Re Group (RE) will raise its quarterly dividend by 7.7 percent to $1.40 per share in the fourth quarter of 2018. This follows a 5 cent per share dividend hike to $1.30 quarterly in the previous year by the reinsurer.

The increased dividend will be payable on or before December 12, 2018 to all shareholders of record as of November 28, 2018. The new annualized dividend rate of $5.60 per share yields 2.6% at a stock price of $215.15.

Everest Re Group, Ltd., through its subsidiaries, is provider of reinsurance and insurance in the United States, Bermuda and international markets. The company offers property, casualty, and specialty products through its various operating affiliates.  The Company offers treaty and facultative reinsurance and admitted and non-admitted insurance. The company’s products include the full range of property and casualty reinsurance and insurance coverages, including marine, aviation, surety, errors and omissions liability, directors’ and officers’ liability, medical malpractice, other specialty lines, accident and health and workers’ compensation. Everest Re Group is domiciled in Bermuda. Its subsidiaries include Everest Reinsurance (Bermuda), Ltd. (Bermuda Re) and Everest International Reinsurance, Ltd.