Everest Group, Ltd. · NYSE:EG
Everest — Q3 2026 Earnings Presentation
30 slides from Everest's earnings presentation, Oct 29, 2026
Slide 1: Third Quarter 2026 Investor Presentation
Thi r d Quar t er 2026 Investor Presentation
Slide 2: Cautionary Note On Forward-Looking Statements and Non-GAAP Measures
Cautionary Note On Forward-Looking Statements and Non-GAAP Measures This presentation and the accompanying remarks contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend these forward-looking statements to be covered by the safe
Slide 3: Core Businesses Represent the Future of Everest
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Core Businesses Represent the Future of Everest Reinsurance Treaty • Globally diversified reinsurance franchise $11.1 billion 3Q26-YTD GWP • Capitalizing on our lead market position to achieve differentiated rate Co
Slide 4: Strategic Priorities for Shareholder Value Creation
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Strategic Priorities for Shareholder Value Creation Maintain underwriting discipline throughout the cycle to generate consistent Prudent cycle management underwriting margins within our Core1 businesses Deploy capit
Slide 5: Track Record of Compounding BVPS Growth
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Track Record of Compounding BVPS Growth Growth in Book Value Per Share + Accumulated Dividends Since Inception $473.59 $466.38 $401.52 Book Value Per Share $375.09 Accumulated Dividends $315.71 $294.55 $279.54 $268.
Slide 6: Key Third Quarter Highlights
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Key Third Quarter Highlights Our Core businesses1 remain focused on underwriting discipline • Core GWP reflects strong cycle management, while we continue to improve portfolio mix 14.2% • Core AYLR improved to 57.2%
Slide 7: Core Businesses Delivering Attractive and Consistent Results
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Core Businesses Delivering Attractive and Consistent Results 2026 Third Quarter Highlights Core Highlights 5 GROSS WRITTEN PREMIUM • Gross written premiums decreased 3.2% (-4.0% excluding the impact of FX and catast
Slide 8: Preferred Lead Market Reinsurance Franchise
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Preferred Lead Market Reinsurance Franchise REINSURANCE TREATY GWP 5 Leading Reinsurance Platform • Leading global P&C reinsurer with a top tier value $11.5 $11.7 proposition to continue to boost our leadership $10.
Slide 9: Reinsurance Treaty Business
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Reinsurance Treaty Business 2026 Third Quarter Highlights Reinsurance Treaty Highlights 5 GROSS WRITTEN PREMIUM • Gross written premiums decreased 5.3% (-6.2% excluding the impact of FX and $2,867 $2,852 catastrophe
Slide 10: Mt. Logan Third-Party Capital Management
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Mt. Logan Third-Party Capital Management Mt. Logan Capital Management Overview Annapurna Highlights Everest’s efficient third-party capital Recently launched casualty and specialty manager reinsurance sidecar • Mt.
Slide 11: Focused Global Wholesale & Specialty Strategy
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Focused Global Wholesale & Specialty Strategy GLOBAL WHOLESALE & SPECIALTY GWP 5 Global Strategy Focused on Profitable Growth $3.5 $3.6 $3.5 • Sharpened focus on wholesale and specialty $2.8 $2.7 business with the e
Slide 12: Global Wholesale & Specialty Business
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Global Wholesale & Specialty Business 2026 Third Quarter Highlights GW&S Highlights 5 GROSS WRITTEN PREMIUM • Gross written premiums were increased 3.3% (increased by 3.2% excluding the impact of FX) $949 $948 for t
Slide 13: Everest Investment Portfolio
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Everest Investment Portfolio Investment Portfolio Guiding Principles Quarterly Highlights • Portfolio diversification Dual strategy approach: • High degree of liquidity Stable income and total return • Strong credit
Slide 14: Enhanced Reserving Process Driving Increased Prudence
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Enhanced Reserving Process Driving Increased Prudence Reserving Philosophy: • To book reserves at management’s best estimate above the actuarial central estimate • Recognize adverse trends quickly and favorable tren
Slide 15: Reinsurance Treaty Casualty Reserves
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Reinsurance Treaty Casualty Reserves CASUALT Y PRO RATA 9 ULTIM ATE LO SS RATIO PRIOR-YEAR RESERVE DEVELOPMENT BY UNDERWRIT ING YEAR Net reserve strengthening of $253M 100% 80% Strengthened gross casualty reserves b
Slide 16: Adverse Development Cover
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Adverse Development Cover PRIOR-YEAR RESERVE DEVELOPMENT ADC TRANSACTION DETAILS Excess ADC GW&S: Reserves continue to develop Exhaustion ADC Layer 2 Limit ($500mm) ADC Layer 2 LimitCeded) ($500mm) ~$6.6B 80% ($400m
Slide 17: Disciplined Capital Management
STRATEGIC OVERVIEW FINANCIAL HIGHLIGHTS SEGMENT RESULTS INVESTMENTS RESERVES CAPITAL Disciplined Capital Management CAPITAL RETURN PAYOUT RATIO 11 Dividends Share Repurchases 190% $550 $479 $473 $411 107% $474 $397 $395 77% $331 57% $84 26% $84 $82 $80 $78 $75 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26
Slide 18: Appendix
/. everest Appendix
Slide 19: Financial Highlights
Financial Highlights CURRENT AND HISTORICAL For the year ended December 31, ($ in millions, except per share data) 3Q26 3Q26 YTD 2025 2024 2023 2022 2021 BALANCE SH EET Cash and Investments7 $43,965 $43,965 $45,429 $41,531 $37,142 $29,872 $29,673 Shareholders’ equity $14,252 $14,252 $15,461 $13,875
Slide 20: Tracking Total Shareholder Return
Tracking Total Shareholder Return ($ in millions, except per share data) 3Q26 2025 2024 BALANCE SH EET DATA Reported Shareholders' Equity $14,252 $15,461 $13,875 Net unrealized gains / (losses) $(1,233) $5 $(849) Shareholders Equity excluding URGL $15,485 $15,455 $14,724 BO O K VALUE PER SH ARE DATA
Slide 21: Endnotes
Endnotes 1 Our Core businesses category represents the aggregation of Reinsurance Treaty and Global Wholesale & Specialty segments to present consolidated financial results for the Company’s go-forward businesses where Everest continues to allocate growth capital to and manage towards maximizing ret
Slide 22: Non-GAAP Measures: After-tax Net Operating Income (Loss)
Information Regarding Non-GAAP Financial Measures: After-tax Net Operating Income (Loss) and After-tax Net Operating Income (Loss) Per Diluted Share After-tax net operating income (loss) consists of net income (loss) excluding after-tax acquisition, divestiture and restructuring costs, after-tax ced
Slide 23: Non-GAAP Measures: Attritional Loss Ratio
Information Regarding Non-GAAP Financial Measures: Attritional Loss Ratio The Reportable Segments loss ratio is calculated as the sum of total incurred losses and loss adjustment expenses, less the ceded prior year unfavorable (favorable) reserve development on reserves subject to the ADC and the re
Slide 24: Non-GAAP Measures: Attritional Combined Ratio
Information Regarding Non-GAAP Financial Measures: Attritional Combined Ratio The Reportable Segments combined ratio is calculated as the sum of total incurred losses and loss adjustment expenses, less the ceded prior year unfavorable (favorable) reserve development on reserves subject to the ADC an
Slide 25: Non-GAAP Measures: Core Businesses Summary
Information Regarding Non-GAAP Financial Measures: Core Businesses Summary This Investor Presentation includes the results of the Company’s Core businesses. Core businesses consist of the Reinsurance Treaty and Global Wholesale & Specialty segments (excluding the Legacy segment) to reflect the busin
Slide 26: Non-GAAP Measures: Core Businesses Ratios
Information Regarding Non-GAAP Financial Measures: Core Businesses Ratios The Company has also presented attritional loss ratio and attritional combined ratios for its Core businesses. Core businesses is comprised of the Reinsurance Treaty and Global Wholesale & Specialty segments (excluding the Leg
Slide 27: Non-GAAP Measures: Gross Written Premium on a Comparable Basis
Information Regarding Non-GAAP Financial Measures: Gross Written Premium on a Comparable Basis The Company has included in this Investor Presentation certain changes in gross written premium on a comparable basis, reflecting constant currency basis and excluding reinstatement premiums. Constant curr
Slide 28: Non-GAAP Measures: Net Operating Income ROE & Annualized TSR
Information Regarding Non-GAAP Financial Measures: Net Operating Income Return On Equity (“ROE”) & Annualized Total Shareholder Return Net Operating income ROE is calculated by dividing after-tax net operating income (loss) by average shareholders’ equity, adjusted for average net unrealized depreci
Slide 29: Non-GAAP Measures: Underwriting Income
Information Regarding Non-GAAP Financial Measures: Underwriting Income Underwriting income (loss) is calculated as net premiums earned, less (1) incurred losses and loss adjustment expenses, adjusted to exclude ceded prior year unfavorable (favorable) reserve development on reserves subject to the A
Slide 30: Non-GAAP Measures: Legacy Segment Metric
Information Regarding Non-GAAP Financial Measures: Legacy Segment Metric Net reserve for losses and loss adjustment expenses (“LAE”) before impact of ADC is calculated as reserve for losses and LAE, less unpaid reinsurance loss recoverables adjusted to exclude the unpaid recoverable of the ADC reins