Everest Group, Ltd. · NYSE:EG
Everest — Q3 2025 Earnings Presentation
29 slides from Everest's earnings presentation, 2025
Slide 1: Investor Presentation Third Quarter 2025
Investor Presentation Third Quarter 2025
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: Everest Strategic Overview
Everest Strategic Overview 3
Slide 4: Transforming Everest to deliver consistent results
Transforming Everest to deliver consistent results Strategic actions driving improved focus, a stronger balance sheet, and agility Announced Renewal rights Additional capital adverse sale of retail flexibility and development commercial optionality XX Positioned to cover insurance XXXXXXXXXXXX X gen
Slide 5: Summary of 3Q'25 Reserving Actions
Summary of 3Q’25 Reserving Actions Key Takeaways Net Reserve Development Amount (pre-tax) Reinsurance Segment: • Net favorable development from property and Reinsurance Segment mortgage lines with expectations for additional Total (favorable) ($29) million embedded margin for the segment Insurance S
Slide 6: Purchase of Adverse Development Cover Drives Finality
Purchase of Adverse Development Cover Drives Finality Transaction Details Key Takeaways $1.2B gross ($1.0B net) Adverse Development Cover Excess ADC purchased from Longtail Re ADC Layer 2 Limit ($500mm) Exhaustion 80% ($400mm Ceded) ~$6.6B ADC Layer 1 Limit ($700mm) • The ADC covers $5.4 billion of
Slide 7: Renewal Rights Sale of Retail Commercial Insurance
Renewal Rights Sale of Retail Commercial Insurance GWP Business Mix Transaction Overview • The transaction meaningfully streamlines $5.1B $2.8B Everest’s operating model and strengthens its focus on its core businesses • AIG will obtain all the rights to renew Everest’s Property / Short Tail U.S., U
Slide 8: Focused on the future of Everest
Focused on the future of Everest Everest 2024 Pro-Forma GWP Mix Top-tier reinsurance franchise 1% 1% • A leading reinsurance market around the globe 16% • Nimble capital deployment, broad diversification, and underwriting 28% discipline backed by market-leading risk analytics • Financial strength an
Slide 9: How Everest Builds Shareholder Value
How Everest Builds Shareholder Value Leading global platform for P&C (re)insurance Focused specialty and Tier-1 lead market wholesale insurance global reinsurer strategy Targeting a Mid-Teens TSR2 Streamlined operating Net acquirer of top Over the Cycle model focused on talent core strengths Balance
Slide 10: Quarterly and Annual Results Summary
Quarterly and Annual Results Summary 10
Slide 11: Everest – A Leading Global Platform
Everest – A Leading Global Platform Diversified reinsurance and insurance P&C franchise REINSURANCE, INSURANCE, AND OTHER 3 GWP 4 $20.00 $18.2 $16.6 $13.1 $14.0 $5.1 $13.4 $15.00 $4.9 $0.2 $3.8 $4.4 $0.3 $3.7 $10.00 $0.3 $0.2 $11.5 $12.9 $5.00 $9.0 $9.2 $9.7 $0.00 2021 2022 2023 2024 3Q25 YTD Reinsu
Slide 12: Everest Group Financial Highlights, Total Shareholder Return and Net Operating Income
Everest Group Financial Highlights, Total Shareholder Return and Net Operating Income 2025 THIRD QUARTER HIGHLIGHTS TOTAL SHAREHOLDER RETURN 26.5%9 Growth in targeted classes including property and specialty lines was strong, 12.3% partially offset by continued discipline, 9.2% particularly in U.S.
Slide 13: Everest Reinsurance Division Financial Highlights
Everest Reinsurance Division Financial Highlights 2025 THIRD QUARTER HIGHLIGHTS REINSURANCE YTD HIGHLIGHTS 4 • Gross written premiums decreased 1.7% on a GROSS WRITTEN PREMIUM constant dollar basis and excl. reinstatement $9,650 $9,668 premiums, to approximately $3.2 billion. $8,566 • Strong growth
Slide 14: Everest Insurance Division Financial Highlights
Everest Insurance Division Financial Highlights 2025 THIRD QUARTER HIGHLIGHTS INSURANCE YTD HIGHLIGHTS 4 • Gross written premiums increased 2.7% on a GROSS WRITTEN PREMIUM constant dollar basis to $1.1 billion. $3,728 $3,728 $3,706 $3,706 • We executed on our strategy to improve the $3,426 $3,517 bu
Slide 15: Everest – Quarterly Financial Highlights
Everest – Quarterly Financial Highlights Equity and Capital Resources Investment Income and Cash Flow $15.5 billion in shareholders’ equity, Strong net investment income driven by excluding $87 million of unrealized increased assets under management and losses on the fixed maturity portfolio, solid
Slide 16: Earnings at Risk: Transforming Everest's Risk Profile
Transforming Everest’s Risk Profile Very attractive risk adjusted returns & targeted growth in attractive property lines Superior Risk / Return Economics After Tax Net 1:100 PML as a % of Group within our Defined Risk Appetite Equity Excluding URGL 9 1 in 100 12.0% 2019 10.7% Earnings at Risk 2021 9
Slide 17: Everest Segment Summary
wh everest ae ; Everest Segment Summary
Slide 18: Preferred Lead Market Reinsurance Franchise
Preferred Lead Market Reinsurance Franchise HISTORY OF CONSISTENT GWP GROWTH3 Leading Reinsurance Platform • Leading global P&C reinsurer with a value proposition and relationships to continue to boost our leadership $12.9 $11.5 position around the globe and maximize our $9.0 $9.2 $9.7 portfolio’s p
Slide 19: Focused Global Specialty and Wholesale Insurance Strategy
Focused Global Specialty and Wholesale Insurance Strategy Global Strategy Focused on Profitable HISTORY OF CONSISTENT GWP GROWTH3 Growth • Significantly transforming North America insurance $5.1 platform to deliver improved results $4.9 $4.4 $3.8 • Organic international insurance expansion performin
Slide 20: Everest Investment Portfolio
Everest Investment Portfolio INVESTMENT PORTFOLIO GUIDING QUARTERLY AND YEAR TO DATE PRINCIPLES HIGHLIGHTS • Portfolio diversification • High degree of liquidity Dual strategy approach: • Strong credit quality Stable income and total return • Asset/liability duration matching • Optimize risk adjuste
Slide 21: Appendix
wh everest ae ; Appendix
Slide 22: Financial Highlights: Current and Historical
Financial Highlights Current and Historical For the year ended December 31, ($ in millions, except per share data) 3Q25 3Q25 YTD 2024 2023 2022 2021 2020 BALANCE SHEET Cash and Investments $45,831 $41,531 $37,142 $29,872 $29,673 $25,462 Shareholders’ equity $15,375 $13,875 $13,202 $8,441 $10,139 $ 9
Slide 23: Tracking Total Shareholder Return
Tracking Total Shareholder Return ($ in millions, except per share data) 3Q25 2024 2023 2022 BALANCE SHEET DATA Reported Shareholders' Equity $15,375 $13,875 $13,202 $8,441 Net unrealized gains / (losses) $(87) $(849) $(723) $(1,709) Shareholders Equity excluding URGL $15,462 $14,724 $13,925 $10,149
Slide 24: Endnotes
Endnotes 1 Excluding, among others, losses related to the Ceding Companies’ Asbestos and Environmental reserves included in the Other Segment 2 Total Shareholder Return (“TSR”) is annual growth in Book Value Per Share excluding Unrealized Gains and Losses on Fixed Maturity Available for Sale Securit
Slide 25: 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 26: Non-GAAP Measures: Attritional Loss Ratio
Information Regarding Non-GAAP Financial Measures: Attritional Loss Ratio The loss ratio is calculated as the sum of total incurred losses and loss adjustment expenses, divided by net premiums earned. The attritional loss ratio is defined as the loss ratio, adjusted to exclude catastrophe losses, ne
Slide 27: 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 28: 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 29: 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