Following a strong third quarter, Everest Re yesterday announced that it had increased its regular quarterly dividend to $0.24 per share, effectively doubling its current quarterly distribution. The dividend will be payable on or before December 15 to shareholders of record as of November 27.

Chairman and chief executive officer Joseph Taranto said: "The significant dividend increase demonstrates the board's confidence in Everest's ability to continue to generate strong operating returns and excellent cash flows.

"We are pleased that these results enable us to continue building long-term value through our strong balance sheet while also funding an enhanced dividend return to our shareholders."