EX-12.1 6 dex121.txt STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 Everest Re Group, Ltd. Ratio of Earnings/(Losses) to Fixed Charges (including Annuity Interest Expense) (Dollars in thousands)
Six Months Ended June 30, Years Ended December 31, 2003 2002 2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- ---- ---- Earnings: Income/(Loss) before income taxes/(benefits) $ 235,886 $ 129,255 $ 262,044 $ 90,343 $ 231,742 $ 196,582 $ 212,676 Fixed Charges: Assumed interest component of rent expense 976 934 2,025 1,713 1,325 1,225 1,769 Interest expense 34,843 26,986 58,544 60,561 39,386 1,490 0 --------- --------- --------- --------- --------- ---------- ----------- Total fixed charges 35,819 27,920 60,569 62,274 40,711 2,715 1,769 --------- --------- --------- --------- --------- ---------- ----------- Earnings plus fixed charges $ 271,705 $ 157,175 $ 322,613 $ 152,617 $ 272,453 $ 199,297 $ 214,445 ========= ========= ========= ========= ========= ========== =========== Ratio of earnings/(losses) to fixed charges 7.6 to 1 5.6 to 1 5.3 to 1 2.5 to 1 6.7 to 1 73.4 to 1 121.2 to 1 ========= ========= ========= ========= ========= ========== ===========
Everest Re Group, Ltd. Ratio of Earnings/(Losses) to Fixed Charges (excluding Annuity Interest Expense) (Dollars in thousands)
Six Months Ended June 30, Years Ended December 31, 2003 2002 2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- ---- ---- Earnings: Income/(Loss) before income taxes/(benefits) $ 235,886 $ 129,255 $ 262,044 $ 90,343 $ 231,742 $ 196,582 $ 212,676 Fixed Charges: Assumed interest component of rent expense 976 934 2,025 1,713 1,325 1,225 1,769 Interest expense 28,415 21,218 44,508 46,004 39,386 1,490 0 --------- --------- --------- --------- --------- ---------- ----------- Total fixed charges 29,391 22,152 46,533 47,717 40,711 2,715 1,769 --------- --------- --------- --------- --------- ---------- ----------- Earnings plus fixed charges $ 265,277 $ 151,407 $ 308,577 $ 138,060 $ 272,453 $ 199,297 $ 214,445 ========= ========= ========= ========= ========= ========== =========== Ratio of earnings/(losses) to fixed charges 9.0 to 1 6.8 to 1 6.6 to 1 2.9 to 1 6.7 to 1 73.4 to 1 121.2 to 1 ========= ========= ========= ========= ========= ========== ===========