Everest Group, Ltd. · NYSE:EG
Everest — Q2 2026 Earnings Presentation
25 slides from Everest's earnings presentation, Jul 30, 2026
Slide 1: Second Quarter 2026 Investor Presentation
Second 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
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Core Businesses Represent the Future of Everest Reinsurance Treaty EVEREST 1H26 GWP MIX • Globally diversified reinsurance franchise Core, 97% • Capitalizing on our lead market p
Slide 4: Strategic Priorities for Shareholder Value Creation
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Strategic Priorities for Shareholder Value Creation Maintain underwriting discipline throughout the cycle to generate consistent Prudent cycle management underwriting margins wit
Slide 5: Track Record of Compounding BVPS Growth
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Track Record of Compounding BVPS Growth Growth in Book Value Per Share + Accumulated Dividends Since Inception $489.38 $466.38 $401.52 Book Value Per Share $375.09 Accumulated Di
Slide 6: Key Second Quarter Highlights
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Key Second Quarter Highlights Our Core businesses1 are maintaining underwriting discipline and delivering strong returns 16.8% • Core gross written premiums reflect strong cycle
Slide 7: Core Businesses Delivering Attractive and Consistent Results
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Core Businesses Delivering Attractive and Consistent Results 2026 Second Quarter Highlights Core Highlights 4 GROSS WRITTEN PREMIUM • Our Core reporting category improves the tra
Slide 8: Preferred Lead Market Reinsurance Franchise
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Preferred Lead Market Reinsurance Franchise REINSURANCE TREATY GWP 4 Leading Reinsurance Platform • Leading global P&C reinsurer with a top tier value $11.5 $11.7 proposition to
Slide 9: Reinsurance Treaty Business
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Reinsurance Treaty Business 2026 Second Quarter Highlights Reinsurance Treaty Highlights 4 GROSS WRITTEN PREMIUM • Gross written premiums decreased 7.8% (-9.1% excluding the impa
Slide 10: Mt. Logan Third-Party Capital Management
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Mt. Logan Third-Party Capital Management Mt. Logan Capital Management Overview Annapurna Highlights Everest’s efficient third-party capital Recently launched casualty reinsurance
Slide 11: Focused Global Wholesale & Specialty Strategy
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Focused Global Wholesale & Specialty Strategy GLOBAL WHOLESALE & SPECIALTY GWP 4 Global Strategy Focused on Profitable Growth $3.5 $3.6 $3.5 • Sharpened focus on wholesale and sp
Slide 12: Global Wholesale & Specialty Business
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Global Wholesale & Specialty Business 2026 Second Quarter Highlights GW&S Highlights 4 GROSS WRITTEN PREMIUM • Gross written premiums were flat (decreased by 1% excluding the imp
Slide 13: Everest Investment Portfolio
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Everest Investment Portfolio Investment Portfolio Guiding Principles Quarterly Highlights • Portfolio diversification Dual strategy approach: • High degree of liquidity Stable in
Slide 14: Disciplined Capital Management
S T R A T E G IC O V E R V IE W F IN A N C IA L H IGH L IG H T S S EGME N T R ES U L T S IN V ES T M E N T S C A P IT A L Disciplined Capital Management CAPITAL RETURN PAYOUT RATIO 7 Dividends Share Repurchases 87% $479 $473 81% $411 63% $284 $397 $395 39% $331 $200 26% $84 $84 $84 $82 $80 $78 2Q25
Slide 15: Appendix
/. everest Appendix
Slide 16: Legacy Segment
Legacy Segment PROACTIVE APPROACH TO ENHANCE ADDITIONAL CAPITAL FLEXIBILITY SEGMENT OVERVIEW ADC TRANSACTION DETAILS Excess ADC • Includes commercial retail insurance business, our Exhaustion ADC Layer 2 Limit ($500mm) ~$6.6B ADC Layer 80% 2 LimitCeded) ($400mm ($500mm) sports & leisure business, le
Slide 17: Financial Highlights
Financial Highlights CURRENT AND HISTORICAL For the year ended December 31, ($ in millions, except per share data) 2Q26 2Q26 YTD 2025 2024 2023 2022 2021 BALANCE SH EET Cash and Investments $44,863 $44,863 $45,429 $41,531 $37,142 $29,872 $29,673 Shareholders’ equity $15,430 $15,430 $15,461 $13,875 $
Slide 18: Tracking Total Shareholder Return
Tracking Total Shareholder Return ($ in millions, except per share data) 2Q26 2025 2024 BALANCE SH EET DATA Reported Shareholders' Equity $15,430 $15,461 $13,875 Net unrealized gains / (losses) $(342) $5 $(849) Shareholders Equity excluding URGL $15,772 $15,455 $14,724 BO O K VALUE PER SH ARE DATA R
Slide 19: 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 20: 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) (also referred to in this Investor Presentation as net operating income (loss)) consists of net income (loss) exc
Slide 21: Non-GAAP Measures: Attritional Combined Ratio
Information Regarding Non-GAAP Financial Measures: Attritional Combined Ratio The combined ratio is calculated as the sum of total incurred losses and loss adjustment expenses, commission and brokerage expenses, and other underwriting expenses, divided by net premiums earned. The attritional combine
Slide 22: Non-GAAP Measures: Core Businesses Ratios
Information Regarding Non-GAAP Financial Measures: Core Businesses Ratios 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 busine
Slide 23: 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 24: 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 25: Non-GAAP Measures: Underwriting Income
Information Regarding Non-GAAP Financial Measures: Underwriting Income Underwriting income is calculated as net premiums earned, less (1) incurred losses and loss adjustment expenses, (2) commission, brokerage, taxes and fees, and (3) other underwriting expenses. Net income (loss) is the most compar