EVEREST GROUP (EG) Company Report

On November 20, 2025, Everest Group named Elias Habayeb to join as Executive Vice President and Group Chief Financial Officer effective May 1, 2026, reporting to CEO Jim Williamson.
He will succeed Mark Kociancic, who will retire after the Q1 2026 reporting cycle and remain as a special advisor through the transition period.
Habayeb’s compensation includes a $910,000 base salary, a target annual bonus of 175% of base salary, equity awards at 275% of base salary, sign-on cash awards totaling $3.3 million, and restricted stock units valued at $7.4 million.
He brings over 30 years of financial leadership, most recently serving as CFO of Corebridge Financial since September 2022 and previously holding CFO roles at AIG and Deloitte & Touche.

Nov 20, 2025, 9:17 PM

8-K

Everest Group declares $2.00 dividend

Dividends

Board of Directors declared a dividend of $2.00 per common share.
Dividend will be payable on or before December 12, 2025 to shareholders of record as of November 26, 2025.
Everest common stock (NYSE: EG) is a component of the S&P 500 index.

Nov 5, 2025, 9:30 PM

Press Release

Everest sells retail commercial insurance renewal rights to AIG

M&A

Management Change

Everest Group agreed to sell the renewal rights of its Global Retail Commercial Insurance business—covering the U.S., U.K., Europe, and Asia Pacific—to AIG, representing an estimated $2 billion in aggregate gross premiums.
The ROW Master Transaction Agreement closed October 26, 2025, for $252 million; a separate EU agreement for $49 million awaits EU antitrust approval; AIG will also pay $30 million for origination and transition services, with final purchase price set at 15% of actual 2025 premiums.
The divestiture refocuses Everest on its core global reinsurance and its Global Wholesale & Specialty Insurance businesses.
Jason Keen has been appointed CEO of Global Wholesale and Specialty Insurance to drive growth in the excess and surplus market.

Oct 28, 2025, 8:18 PM

8-K

Everest reports Q3 2025 results

Earnings

Everest reported Q3 2025 gross written premiums of $4.375 billion and YTD premiums of $13.446 billion.
Net operating income was $316 million for Q3 and $1.326 billion YTD, with Q3 net investment income of $540 million.
The combined ratio stood at 103.4% for Q3 and 98.7% YTD; the company strengthened U.S. casualty reserves by $393 million and recorded total adverse reserve development of $478 million pre-tax.
Completed a $1.2 billion gross adverse development cover purchase covering $5.4 billion of reserves effective October 1, 2025; announced sale of $2 billion GWP renewal rights to AIG with a $250–$350 million pre-tax charge over 2025–26.

Oct 28, 2025, 12:00 PM

Presentation

Everest reports Q3 2025 results and strategic actions

Earnings

M&A

Share Buyback

Exited global retail insurance with sale of U.S., UK, European and Asia-Pacific commercial retail renewal rights (≈$2 bn GWP) to AIG; will incur a $250–350 mn pre-tax charge over 2025–26.
Established a $1.2 bn adverse development cover for North America insurance reserves (2024 & prior) with $200 mn co-participation, covering $5.4 bn of subject reserves; upfront premium of $122 mn due in Q4.
Q3 2025 group gross written premium $4.4 bn (–1% YoY) and combined ratio 103.4% (attritional combined ratio 89.6% ex-prior-year development & CAT).
Reinsurance segment delivered $3.2 bn GWP (–2% YoY) and 87% combined ratio, driven by ~+5% in property/short-tail and >10% decline in casualty/financial lines; global specialties generated ~$500 mn GWP and > $100 mn underwriting income.
Net reserve strengthening of $478 mn (12.4% CR impact) supports expected excess capital; H1 2025 share repurchases set a floor with further buybacks anticipated in H2 2026.

Oct 28, 2025, 12:00 PM

Transcript

Everest Group reports Q3 2025 results

Earnings

M&A

Share Buyback

Exited global retail insurance, selling renewal rights of U.S., UK, European and Asia-Pacific commercial retail business (approx. $2 billion GWP) to AIG; expects a $250–350 million pre-tax charge over 2025–26 and will pay $122 million of premium upon closing in Q4, releasing significant capital.
Strengthened U.S. casualty reserves by $478 million (12.4% on combined ratio) and secured an adverse development cover with $1.2 billion gross limit (co-participation $200 million) covering $5.4 billion of North America insurance reserves (AY 2024 and prior), transferring $1.25 billion of in-the-money reserves; net investment income to decline by ~$60 million p.a..
Q3 performance: group GWP $4.4 billion (–1% YoY), combined ratio 103.4%, operating income $316 million vs. $630 million LY; reinsurance GWP $3.2 billion (–2%), combined ratio 87%; insurance GWP $1.1 billion (+2.7%), attritional loss ratio 67%, underwriting expense ratio 19%.
Financial position: net investment income $540 million (book yield 4.5%, alternative assets $112 million vs. $72 million LY), shareholders’ equity $15.4 billion (BVPS $366.22, +15.2% YTD); no Q3 share buybacks but expects to resume meaningful repurchases.

Oct 28, 2025, 12:00 PM

Transcript

Everest Group Ltd reports Q3 2025 results

Earnings

M&A

Share Buyback

Exiting global retail insurance and sold renewal rights (~$2 billion GWP) to AIG; established a comprehensive adverse development cover for North America insurance reserves (accident years ≤ 2024) with $1.2 billion gross limit.
Group gross written premiums were $4.4 billion (–1% YoY), combined ratio 103.4% (attritional 89.6%), and operating income $316 million vs. $630 million last year.
Strengthened U.S. casualty reserves by $478 million (12.4% on combined ratio) and structured the ADC to cover $5.4 billion of subject reserves with $200 million co-participation.
Net investment income rose to $540 million, book yield 4.5%, shareholders’ equity ended at $15.4 billion (BVPS $366.22, +15.2% YoY); plan to resume meaningful share buybacks.

Oct 28, 2025, 12:00 PM

Transcript

Everest Group enters $1.2 billion adverse development reinsurance deal

New Projects/Investments

Effective October 1, 2025, Everest entered a retroactive adverse development reinsurance agreement with Longtail Re (affiliate of Stone Ridge) providing $1.2 billion gross limit protection for its North American Insurance portfolio for accident years 2024 and prior.
The cover comprises two layers in excess of $5.4 billion of liability reserves: a $700 million first layer (with $1.25 billion of in-the-money reserve transfer) and a $500 million second layer (with approximately $122 million paid upon closing), with Everest retaining $100 million co-participation per layer.
The $122 million second-layer consideration will be recorded as a Q4 2025 incurred loss; Everest retains sole authority over claims handling under the agreement.

Oct 27, 2025, 8:23 PM

8-K

Everest reports Q3 2025 results and sale of retail insurance renewal rights to AIG

Earnings

M&A

Third quarter 2025 net income of $255 million ($6.09 per diluted share) and net operating income of $316 million ($7.54 per diluted share), both down year-over-year.
Group gross written premium of $4.4 billion, combined ratio of 103.4%, and net operating income ROE of 8.2% annualized.
Agreement for AIG to acquire rights to renew Everest’s U.S., U.K., European and Asia Pacific retail commercial insurance, covering an estimated $2 billion of gross premiums, subject to regulatory approvals from Q4 2025.
Everest expects a pre-tax non-operating charge of $250–350 million related to the renewal rights sale, recognized over 2025–2026.

Oct 27, 2025, 8:20 PM

8-K

Everest Group secures $1.2 billion adverse development cover

Effective October 1, 2025, Everest entered a retroactive reinsurance agreement with Longtail Re (Stone Ridge affiliate) providing $1.2 billion of gross limit protection for accident years 2024 and prior.
Cover sits in two layers above $5.4 billion of existing North America liability reserves: a $700 million first layer with $1.25 billion of in-the-money reserves transferred on closing; and a $500 million second layer with ~$122 million of consideration booked as a Q4 2025 incurred loss; $100 million co-participation per layer.
The transaction strengthens Everest’s North America casualty reserves, optimizes capital efficiency and insulates the portfolio from further adverse development.

Oct 27, 2025, 8:13 PM

Press Release