AI interpretation based on checked source excerpts. Issuer assertions and evidence limitations remain explicit.
Evidence
According to S&P, Everest ranks among the top ten global property and casualty reinsurance groups.
2025 Form 10-K, Competition: global reinsurance ranking · Filed 26/02/2026
It is our long-standing client and broker relationships that help us continue to grow and maintain our global leadership position.
2025 Form 10-K, Business: issuer relationship claim · Filed 26/02/2026
The increase in insurance premiums reflects growth across multiple lines of business, particularly specialty casualty, property/short tail business and other specialty business, driven by positive rate and exposure increases, new business and strong renewal retention.
2023 Form 10-K: insurance rate, exposure and renewal drivers · Filed 28/02/2024
Competition.
The global reinsurance and insurance markets are highly competitive and mature.
2025 Form 10-K, Competition: competitive market structure · Filed 26/02/2026
Competition for clients might be based on pricing, capacity, coverage terms, conditions or other factors.
2025 Form 10-K, Competition: price, capacity and coverage terms · Filed 26/02/2026
In addition to existing competitors, the entry of alternative capital market products and new company formations, such as Insurtech companies, provide additional sources of reinsurance and insurance capacity, which could reduce our market share and adversely affect our business, results of operations and financial condition.
2025 Form 10-K, Competition: alternative capacity risk · Filed 26/02/2026
Our industry is highly competitive and subject to pricing cycles that can be pronounced.
2025 Form 10-K: pronounced pricing cycles · Filed 26/02/2026
In the Insurance business, total gross written premium was $4.8 billion and total combined ratio was 114.6%.
2026 proxy, 2025 results: Insurance combined ratio · Filed 10/04/2026
The Company’s Reinsurance business had total gross written premiums of approximately $12.8 billion, underwriting income of $972 million and a 91.7% total combined ratio.
2026 proxy, 2025 results: Reinsurance underwriting results · Filed 10/04/2026
Underwriting Results - Everest Group
Quarter-to-Date
Year-to-Date
June 30,
June 30,
June 30,
June 30,
2026
2025
Change
2026
2025
Change
Gross written premium
$
3,772
$
4,680
(19.4)%
$
7,374
$
9,071
(18.7)%
Net written premium
$
3,037
$
4,119
(26.3)%
$
6,224
$
7,853
(20.7)%
Net premiums earned
$
3,490
$
3,991
(12.6)%
$
7,064
$
7,843
(9.9)%
Loss Ratio:
Current year
59.5%
60.0%
(0.5) pts
59.4%
60.6%
(1.2) pts
Prior year
—%
1.5%
(1.5) pts
(0.5)%
0.8%
(1.3) pts
Catastrophe
2.7%
0.5%
2.2 pts
3.2%
7.1%
(3.9) pts
Total Loss ratio
62.2%
61.9%
0.3 pts
62.1%
68.4%
(6.3) pts
Commission and brokerage ratio
23.3%
22.0%
1.3 pts
23.2%
21.7%
1.5 pts
Other underwriting expenses
6.4%
6.4%
0.1 pts
6.2%
6.3%
— pts
Combined ratio
92.0%
90.4%
1.6 pts
91.5%
96.4%
(4.9) pts
Attritional combined ratio (4)
89.3%
88.6%
0.7 pts
88.9%
89.4%
(0.5) pts
Pre-tax net catastrophe losses (5)
$
94
$
20
$
224
$
492
Pre-tax net unfavorable (favorable) prior year development
$
—
$
59
$
(33)
$
59
All values in USD millions except for percentages
Notes
(4) Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, and prior year development.
Second-quarter 2026 earnings release: consolidated underwriting results · Filed 29/07/2026
Quarter-to-Date
(Dollars in millions)
June 30, 2026
June 30, 2025
(unaudited)
Reinsurance Treaty
Global Wholesale & Specialty
Core Businesses
Legacy
Group
Reinsurance Treaty
Global Wholesale & Specialty
Core Businesses
Legacy
Group
Net premiums earned
$
2,459
$
709
$
3,167
$
323
$
3,490
$
2,726
$
728
$
3,454
$
538
$
3,991
Less: Incurred losses and LAE
1,478
439
1,917
253
2,170
1,568
471
2,039
433
2,472
Less: Commission, brokerage, taxes and fees
626
146
773
41
814
682
148
830
50
880
Less: Other underwriting expenses
71
89
161
64
225
64
74
138
116
254
Underwriting income (loss)
$
283
$
34
$
317
$
(36)
$
281
$
413
$
35
$
448
$
(63)
$
385
Net investment income
523
532
Net gains (losses) on investments
(8)
(5)
Corporate expenses
(33)
(31)
Interest, fee and bond issue cost amortization expense
(36)
(38)
Other income (expense)
(45)
(27)
Income tax benefit (expense)
(124)
(135)
Net income (loss)
$
559
$
680
(Some amounts may not reconcile due to rounding.)
13
Book value per common share outstanding excluding URA(D)
Second-quarter 2026 earnings release: segment underwriting and consolidated reconciliation · Filed 29/07/2026
This was clear during the mid-year renewals, where the team’s world class execution resulted in meaningful outperformance on rate and terms versus the market.
Second-quarter 2026 earnings release: CEO claim about renewal rates and terms · Filed 29/07/2026
Other casualty lines have been experiencing modest rate increases, while some lines such as workers’ compensation and directors and officers liability have been experiencing softer market conditions.
2023 Form 10-K: softer pricing in selected casualty lines · Filed 28/02/2024
3
Underwriting Results - Reinsurance Treaty Segment
Quarter-to-Date
Year-to-Date
June 30,
June 30,
June 30,
June 30,
2026
2025
Change
2026
2025
Change
Gross written premium
2,720
2,951
(7.8)%
5,394
5,885
(8.3)%
Net written premium
2,228
2,785
(20.0)%
4,632
5,313
(12.8)%
Net premiums earned
2,459
2,726
(9.8)%
4,915
5,306
(7.4)%
Loss Ratio:
Current year
57.1%
55.4%
1.7 pts
56.9%
56.6%
0.2 pts
Prior year
—%
2.2%
(2.2) pts
(0.7)%
1.1%
(1.8) pts
Catastrophe
3.1%
—%
3.1 pts
3.4%
9.6%
(6.2) pts
Total Loss ratio
60.1%
57.5%
2.6 pts
59.5%
67.3%
(7.8) pts
Commission and brokerage ratio
25.5%
25.0%
0.5 pts
25.6%
24.8%
0.8 pts
Other underwriting expenses
2.9%
2.3%
0.6 pts
2.7%
2.3%
0.4 pts
Combined ratio
88.5%
84.9%
3.6 pts
87.8%
94.5%
(6.7) pts
Attritional combined ratio (4)
85.4%
83.2%
2.2 pts
85.2%
85.0%
0.2 pts
Pre-tax net catastrophe losses (5)
75
—
165
446
Pre-tax net prior year reserve development
—
59
(33)
59
All values in USD millions except for percentages
Second-quarter 2026 earnings release: Reinsurance Treaty premiums and underwriting ratios · Filed 29/07/2026
dollars) 2026 2025 (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 1,213 $ 890 Adjustments to reconcile net income to net cash provided by operating activities: Decrease (increase) in premiums receivable 78 (662) Decrease (increase) in funds held by reinsureds, net (85) (79) Decrease (increase) in reinsurance recoverables (149) 199 Decrease (increase) in income taxes 59 152 Decrease (increase) in prepaid reinsurance premiums (90) 85 Increase (decrease) in reserve for losses and loss adjustment expenses 669 1,688 Increase (decrease) in unearned premiums (788) 63 Increase (decrease) in amounts due to reinsurers 212 12 Increase (decrease) in losses in course of payment (27) 12 Change in equity adjustments in limited partnerships (240) (140) Distribution of limited partnership income 90 74 Change in other assets and liabilities, net — (249) Non-cash compensation expense 40 26 Amortization of bond premium (accrual of bond discount) (60) (78) Net (gains) losses on investments 17 12 Net cash provided by (used in) operating activities 939 2,007 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from fixed maturities matured/called/repaid - available for sale 2,174 2,129 Proceeds from fixed maturities sold - available for sale 1,083 280 Proceeds from fixed maturities matured/called/repaid - held to maturity 69 105 Proceeds from fixed maturities sold - held to maturity — 10 Proceeds from equity securities sold — 54 Distributions from other invested assets 119 223 Cost of fixed maturities acquired - available for sale (3,820) (5,767) Cost of fixed maturities acquired - held to maturity (69) (4) Cost of equity securities acquired (3) (2) Cost of other invested assets acquired (224) (303) Net change in short-term investments 470 2,299 Net change in unsettled securities transactions 1 (38) Net cash provided by (used in) investing activities (199) (1,014) CASH FLOWS FROM FINANCING ACTIVITIES: Common shares issued (redeemed) during the period for share-based compensation, net of expense (21) (19) Purchase of treasury shares (725) (400) Dividends paid to shareholders (158) (169) Cost of shares withheld on settlements of share-based compensation awards (24) (20) Net cash provided by (used in) financing activities (927) (608) EFFECT OF EXCHANGE RATE CHANGES ON CASH 26 (32) Net change in cash including balances classified as held-for-sale (161) 352 Net change in cash balances classified as held-for-sale (1) (40) — Cash, beginning of period 1,318 1,549 Cash, end of period $ 1,117 $ 1,902 SUPPLEMENTAL CASH FLOW INFORMATION: Income taxes paid (recovered) $ 143 $ 16 Interest paid 71 75 NON-CASH TRANSACTIONS: Non-cash restructure of fixed maturity securities - available for sale and other invested assets — 39 Non-cash restructure of fixed maturity securities - available for sale and equity securities 6 — The accompanying notes are an integral part of the consolidated financial statements.
June 2026 Form 10-Q: consolidated cash flows and compensation expense · Filed 03/08/2026
dollars, except dividends per share amounts) 2026 2025 2026 2025 (unaudited) (unaudited) COMMON SHARES (shares outstanding): Balance beginning of period 39.8 42.5 40.7 43.0 Issued (redeemed) during the period, net — — 0.1 0.1 Treasury shares acquired (1.2) (0.6) (2.2) (1.2) Balance end of period 38.7 41.9 38.7 41.9 COMMON SHARES (par value): Balance beginning of period $ 1 $ 1 $ 1 $ 1 Issued during the period, net — — — — Balance end of period 1 1 1 1 ADDITIONAL PAID-IN CAPITAL: Balance beginning of period 3,849 3,799 3,852 3,812 Share-based compensation plans 22 19 20 6 Balance end of period 3,871 3,818 3,871 3,818 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS), NET OF DEFERRED INCOME TAXES: Balance beginning of period (462) (786) (52) (1,138) Net increase (decrease) during the period 30 465 (380) 817 Balance end of period (432) (321) (432) (321) RETAINED EARNINGS: Balance beginning of period 17,139 15,434 16,565 15,309 Net income (loss) 559 680 1,213 890 Dividends declared ($2.00 per share in 2Q 2026 and $4.00 per share YTD in 2026; $2.00 per share in 2Q 2025 and $4.00 per share YTD in 2025) (78) (84) (158) (169) Balance, end of period 17,620 16,030 17,620 16,030 TREASURY SHARES AT COST: Balance beginning of period (5,236) (4,308) (4,906) (4,108) Purchase of treasury shares (395) (200) (725) (400) Share-based compensation plans — — 1 — Balance end of period (5,630) (4,508) (5,630) (4,508) TOTAL SHAREHOLDERS' EQUITY, END OF PERIOD $ 15,430 $ 15,019 $ 15,430 $ 15,019 The accompanying notes are an integral part of the consolidated financial statements.
June 2026 Form 10-Q: shares, earnings, dividends and equity · Filed 03/08/2026
For the six months ended June 30, 2026, we repurchased 2.2 million of our common shares at a cost of $725 million in the open market and paid $158 million in common share dividends.
June 2026 Form 10-Q: first-half repurchases and dividends · Filed 03/08/2026
The actual and required statutory capital and surplus of Bermuda Re was as follows:
Bermuda Re
At December 31,
(Dollars in millions)
2025
2024
Statutory economic capital and surplus
$
5,415
$
4,623
Required statutory capital and surplus (1)
$
2,532
$
2,626
(1) The required statutory capital and surplus is calculated as the BSCR.
June 2026 Form 10-Q: Bermuda Re statutory economic capital and BSCR requirement · Filed 03/08/2026
The regulatory targeted capital and the actual statutory capital for Everest Re was as follows:
Everest Re (1)
At December 31,
(Dollars in millions)
2025
2024
Actual capital
$
8,856
$
8,126
Regulatory targeted capital
$
5,119
$
4,799
(1) Regulatory targeted capital represents 200% of the Risk Based Capital authorized control level calculation for the applicable year.
June 2026 Form 10-Q: Everest Re capital and target defined as 200% of RBC authorized control level · Filed 03/08/2026
Under the Act, after the transition period, the Company will be subject to group-level solvency and capital requirements, consolidated financial reporting and auditing obligations, recovery planning requirements and prior notification or approval requirements for certain material changes within the group.
June 2026 Form 10-Q: group supervision requirements after transition · Filed 03/08/2026
At December 31, 2025 and December 31, 2024, we held cash and short-term investments of $4.3 billion and $6.3 billion, respectively.
2025 Form 10-K: consolidated cash and short-term investments · Filed 26/02/2026
In addition to these cash and short-term investments, we had $1.4 billion of fixed maturity securities - available for sale maturing within one year or less, $10.8 billion maturing within one to five years and $8.6 billion maturing after five years at December 31, 2025.
2025 Form 10-K: available-for-sale fixed-maturity maturities · Filed 26/02/2026
There are certain regulatory and contractual restrictions on the ability of Holdings’ operating subsidiaries to transfer funds to Holdings in the form of cash dividends, loans or advances.
2025 Form 10-K: subsidiary fund-transfer restrictions · Filed 26/02/2026
At June 30, 2026 and December 31, 2025, $2.8 billion and $2.5 billion, respectively, of fixed maturities were fair valued using unobservable inputs.
June 2026 Form 10-Q: fixed maturities valued using unobservable inputs · Filed 03/08/2026
(Dollars in millions) Class Description Effective Date Expiration Date Limit Coverage Basis Series 2024-1 Class A US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/27/2024 6/30/2028 75 Occurrence Series 2024-1 Class B US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/27/2024 6/30/2028 125 Occurrence Series 2025-1 Class A-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/9/2029 105 Aggregate Series 2025-2 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/8/2030 105 Aggregate Series 2025-1 Class B-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/9/2029 120 Aggregate Series 2025-2 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/8/2030 120 Aggregate Series 2025-1 Class C-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/9/2029 170 Occurrence Series 2025-2 Class C-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/8/2030 170 Occurrence Series 2025-1 Class D-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/9/2029 105 Occurrence Series 2025-2 Class D-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/26/2025 7/8/2030 105 Occurrence Series 2026-1 Class B-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 7/1/2026 6/30/2029 70 Aggregate Series 2026-1 Class C-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 7/1/2026 6/30/2029 60 Occurrence Series 2026-1 Class D-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 7/1/2026 6/30/2029 220 Occurrence Series 2026-2 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 7/1/2026 6/30/2030 50 Aggregate Series 2026-2 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 7/1/2026 6/30/2030 60 Aggregate Series 2026-2 Class D-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 7/1/2026 6/30/2030 170 Occurrence Total available limit $ 1,830 Recoveries under these collateralized reinsurance agreements with Kilimanjaro are primarily dependent on estimated industry-level insured losses from covered events, as well as the geographic location of the events.
June 2026 Form 10-Q: collateralized catastrophe protection and recovery triggers · Filed 03/08/2026
As a result, our projected net economic loss from our largest 100-year event in a given zone represents approximately 8.1% of our June 30, 2026 shareholders’ equity.
June 2026 Form 10-Q: modeled largest 100-year-event economic loss · Filed 03/08/2026
Quarter-to-Date
Year-to-Date
(Dollars in millions)
June 30,
June 30,
June 30,
June 30,
2026
2025
2026
2025
(unaudited)
(unaudited)
Beginning of period shareholders' equity
$
15,291
$
14,140
$
15,461
$
13,875
Add: Net unrealized depreciation (appreciation) of fixed maturity, available for sale securities
369
561
(5)
849
Adjusted beginning of period shareholders' equity
$
15,660
$
14,700
$
15,455
$
14,724
End of period shareholders' equity
$
15,430
$
15,019
$
15,430
$
15,019
Add: Net unrealized depreciation (appreciation) of fixed maturity, available for sale securities
342
252
342
252
Adjusted end of period shareholders' equity
$
15,772
$
15,272
$
15,772
$
15,272
Average adjusted shareholders' equity
$
15,716
$
14,986
$
15,614
$
14,998
After-tax net operating income (loss)
$
585
$
734
$
1,232
$
1,010
After-tax net gains (losses) on investments
(8)
(3)
(14)
(10)
After-tax foreign exchange income (expense)
(17)
(50)
(6)
(110)
Net income (loss)
$
559
$
680
$
1,213
$
890
Return on equity (annualized)
After-tax net operating income (loss)
14.9%
19.6%
15.8%
13.5%
After-tax net gains (losses) on investments
(0.2)%
(0.1)%
(0.2)%
(0.1)%
After-tax foreign exchange income (expense)
(0.4)%
(1.3)%
(0.1)%
(1.5)%
Net income (loss)
14.2%
18.2%
15.5%
11.9%
(Some amounts may not reconcile due to rounding.)
12
Underwriting Income
Second-quarter 2026 earnings release: ROE reconciliation and adjusted equity denominator · Filed 29/07/2026
Year-to-Date (Dollars in millions, except per share amounts) December 31, December 31, 2025 2024 Beginning of period shareholders’ equity $13,875 $13,202 Add: Net unrealized depreciation (appreciation) of fixed maturity, available for sale securities 849 723 Adjusted beginning of period shareholders' equity $14,724 $13,925 End of period shareholders’ equity $15,461 $13,875 Add: Net unrealized depreciation (appreciation) of fixed maturity, available for sale securities (5) 849 Adjusted end of period shareholders’ equity $15,455 $14,724 Average adjusted shareholders’equity $15,090 $14,325 After-tax net operating income (loss) $1,875 $1,289 After-tax net gains (losses) on investments (115) 12 After-tax foreign exchange income (expense) (169) 72 Net income (loss) $1,591 $1,373 Return on equity (annualized) After-tax net operating income (loss) 12.4% 9.0% After-tax net gains (losses) on investments (0.8)% 0.1% After-tax foreign exchange income (expense) (1.1)% 0.5% Net income (loss) 10.5% 9.6% Common shares outstanding 40.7 43.0 Book value per common share outstanding (1) 379.83 322.97 Book value per common share outstanding (excluding URA(D)) (2) 379.70 342.74 Total Shareholder Return (TSR) (3) 13.1% 9.2% (Some amounts may not reconcile due to rounding.) (1) Book value per common share is calculated as reported end of period shareholders’ equity divided by common shares outstanding.
2026 proxy: 2025 and 2024 earnings and ROE reconciliation · Filed 10/04/2026
To better align with market practice, the performance-based equity awards granted to the applicable NEOs in 2025 differed from the PSUs granted in prior years in the following ways: •dividend equivalents are accrued and paid in proportion to the number of PSUs that actually vest; •PSU vesting will be based on the level of achievement of two equally weighted financial performance measures: Adjusted Net Operating Income ROE (adjusted for the impact of catastrophe losses, if applicable) and relative change in TSR as compared to a peer group (as further described below); and •the maximum payout multiplier percentage for PSUs increased from 175% to 200%.
2026 proxy: adopted 2025 PSU performance measures and payout terms · Filed 10/04/2026
The number of shares actually earned is calculated by applying the target award multiplier based upon the Company’s full year performance: 2023 PSU ROE Grant Net Operating Income ROE Jim Williamson Mark Kociancic Jill Beggs Target Award 1,100 1,335 665 Target Goal Actual Weight % Target Multiplier (% of Target) Earned PSUs 2023 Period 13.5%-14.5 % 18.7% 16.7% 157.3% 289 350 175 2024 Period 17.0% 9.0% 16.7% 33.3% 62 75 37 2025 Period 15.0% 12.4% 16.7% 67.5% 124 151 75 All earned shares resulting from achievement of the metrics herein are delivered to the participant upon the Compensation Committee’s confirmation of the final earned amounts at the end of the 2023 PSUs respective three-year performance periods.
2026 proxy: performance-dependent PSU earn-outs · Filed 10/04/2026
performance metrics over a 3-year period and 50% restricted stock.
2026 proxy: restricted-stock portion of executive long-term awards · Filed 10/04/2026
Director Independence on Key Committees The Board’s Audit, Compensation and Nominating and Governance Committees are composed entirely of independent directors.
2026 proxy: independent key committees · Filed 10/04/2026
4 2026 Proxy Statement
Proxy Statement Summary
Shareholder
Protections
•Majority Vote Standard for Director Election
•Annual Election of All Directors
•Independent Board Chair
•Regular Executive Sessions of Non-Management Directors
2026 proxy: director elections and independent chair · Filed 10/04/2026
The Clawback Policy provides for the mandatory recovery of erroneously awarded incentive-based compensation from current and former executive officers (as defined in the Clawback Policy) of the Company (“Section 16 Officers”) in the event that the Company is required to prepare an accounting restatement.
2025 Form 10-K: mandatory compensation recovery policy · Filed 26/02/2026
•the total voting power of any shareholder owning more than 9.9% of the common shares will be reduced to 9.9% of the total voting power of the common shares;
2025 Form 10-K: shareholder voting-power limitation · Filed 26/02/2026
Pursuant to the First Amendment, the number of common shares available for delivery under the Company's 2020 Stock Incentive plan increased by 812,000 shares.
May 2026 Form 8-K: approved additional incentive-plan share capacity · Filed 15/05/2026
(the "Company") approved an amendment to the Everest Group, Ltd.
May 2026 Form 8-K: shareholder approval of incentive-plan amendment · Filed 15/05/2026
Upon closing of the transaction, the Company recognized a $204 million gain on sale included in other income (expense) in its consolidated statements of operations for the year ended December 31, 2025.
June 2026 Form 10-Q: completed renewal-rights sale gain · Filed 03/08/2026
Pursuant to the ROW Master Transaction Agreement, if the gross written premium paid and payable to the Buyer in respect to the Aggregate Renewed Premiums (as defined in the ROW Master Transaction Agreement) from the closing date of the transaction to December 31, 2027 are less than 80% of the aggregate premiums for the year ended December 31, 2025, the Company will reimburse a portion of the aggregate purchase price under the ROW Master Transaction Agreement to the Buyer based on the relative percentage of such 2025 premiums renewed, which amount shall not exceed $70 million.
June 2026 Form 10-Q: renewal-dependent sale-price reimbursement provision · Filed 03/08/2026
In addition, as a result of the Master Transaction Agreements, the Company also recorded severance costs and impairments of capitalized software in the amounts of $28 million and $83 million, respectively, for the year ended December 31, 2025.
June 2026 Form 10-Q: 2025 sale-related severance and software impairments · Filed 03/08/2026
For the six months ended June 30, 2026, the Company recognized $106 million of net transaction expenses associated with this agreement primarily relating to severance/retention expenses.
June 2026 Form 10-Q: first-half transaction expenses · Filed 03/08/2026
Sale of Canadian Commercial Retail Insurance Operations On March 22, 2026, Everest Underwriting Group (Ireland) Limited (“EUGIL”), an Irish direct subsidiary of the Company, entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with the Wawanesa Mutual Insurance Company, a mutual insurance company existing under the Insurance Companies Act (Canada) (“Buyer”), pursuant to which EUGIL agreed to sell to Buyer, or a Canadian affiliate thereof, all of the outstanding shares of capital of Everest Canada, a Canadian insurance company and a wholly owned subsidiary of EUGIL, representing the Company’s Canadian Commercial Retail Insurance operations for C$410 million, subject to adjustment.
June 2026 Form 10-Q: Canadian disposal agreement · Filed 03/08/2026
In connection with the Purchase Agreement, (i) Everest Canada will enter into a loss portfolio transfer reinsurance agreement with Everest Reinsurance Company (Canadian Branch), a Delaware reinsurance company and affiliate of EUGIL (“ERC - Canadian Branch”), pursuant to which ERC - Canadian Branch will reinsure certain liabilities of Everest Canada with respect to insurance business written prior to the closing of the transaction, (ii) EUGIL or an affiliate thereof and Buyer or an affiliate thereof will enter into a transition services agreement for specified transition services to be provided to Buyer and its affiliates and (iii) EUGIL and its affiliates, on the one hand, and Buyer and its affiliates, on the other hand, will enter into such other ancillary agreements as contemplated in the Purchase Agreement.
June 2026 Form 10-Q: Canadian disposal retained liabilities and ancillary arrangements · Filed 03/08/2026
Kociancic is eligible for an additional $3.8 million in separation compensation in the form of cash and equity vesting pursuant to the Kociancic Employment Agreement.
December 2025 Form 8-K: conditional CFO separation compensation · Filed 02/12/2025
•Attritional loss ratio improved 390 basis points over second quarter 2025 to 60.6%, while the attritional combined ratio improved 110 basis points to 93.8% versus a year ago.4
Second-quarter 2026 earnings release: Global Wholesale & Specialty attritional improvement · Filed 29/07/2026
The Company’s underwriting strategies emphasize disciplined underwriting, prioritizing underwriting profitability over premium volume and flexibility to adjust and respond to changing market conditions.
2025 Form 10-K: underwriting profitability and business-mix strategy · Filed 26/02/2026
