EVEREST GROUP, LTD.

Listed Company

EGCIK 0001095073NYSELarge AcceleratedFire, Marine & Casualty InsuranceD0FY ends Dec 31

Period

FY 2025

Revenue

$17.50B

Net Income

$1.59B

Total Assets

$62.51B

Equity

$15.46B

Shares Out

40.39M

Op. Cash Flow

$3.07B

Business

EVEREST GROUP, LTD. is a Bermuda-based reinsurance and insurance organization that underwrites property and casualty risk for insurers and commercial clients globally. It offers treaty and facultative reinsurance and primary insurance across property, casualty and specialty lines, including catastrophe, financial lines, mortgage, marine, aviation, professional liability and workers’ compensation. The business is managed through two reportable segments, Reinsurance and Insurance, with an Other run-off segment for legacy and discontinued exposures. Everest distributes products through brokers, direct placements with ceding companies, surplus lines and general agents across North America, Europe, Asia, Latin America, Bermuda and other international markets.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Premiums earned	15,560	15,187	13,443	11,787	10,406
Net investment income	2,124	1,954	1,434	830	1,165
Total net gains (losses) on investments	−143	19	−276	−455	258
Other income (expense)	−45	121	−14	−102	37
Total revenues	17,496	17,281	14,587	12,060	11,866
Incurred losses and loss adjustment expenses	10,859	11,305	8,427	8,100	7,391
Commission, brokerage, taxes and fees	3,461	3,300	2,952	2,528	2,209
Other underwriting expenses	1,029	938	846	682	583
Corporate expenses	109	95	73	61	68
Interest, fees and bond issue cost amortization expense	151	149	134	101	70
Total claims and expenses	15,609	15,787	12,432	11,472	10,321
INCOME (LOSS) BEFORE TAXES	1,887	1,493	2,154	588	1,546
Income tax expense (benefit)	296	120	−363	−9	167
NET INCOME (LOSS)	1,591	1,373	2,517	597	1,379
"Unrealized appreciation (depreciation) (""URA(D)"") on securities arising during the period"	740	−97	743	−2,037	−488
Reclassification adjustment for realized losses (gains) included in net income (loss)	114	−12	244	89	4
Total URA(D) on securities arising during the period	854	−109	986	−1,948	−485
Foreign currency translation and other adjustments	242	−128	59	−77	−62
Benefit plan actuarial net gain (loss) for the period	−9	34	15	15	17
Reclassification adjustment for amortization of net (gain) loss included in net income (loss)	−1	−1	2	2	6
Total benefit plan net gain (loss) for the period	−10	33	17	17	23
Total other comprehensive income (loss), net of tax	1,086	−204	1,063	−2,008	−523
COMPREHENSIVE INCOME (LOSS)	2,678	1,169	3,580	−1,411	856
Basic (in dollars per share)	37.8	31.78	60.19	15.19	34.66
Diluted (in dollars per share)	37.8	31.78	60.19	15.19	34.62

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fixed maturities - available for sale, at fair value (amortized cost: 2025, $34,620; 2024, $29,934, credit allowances: 2025, $(68); 2024, $(36))	34,573	28,908	27,740	22,236	—
Fixed maturities - held to maturity, at amortized cost (fair value: 2025, $576; 2024, $759, net of credit allowances: 2025, $(6); 2024, $(8))	567	757	855	839	—
Equity securities, at fair value	180	217	188	281	1,826
Other invested assets	5,796	5,392	4,794	4,085	2,920
Short-term investments	2,994	4,707	2,127	1,032	1,178
Cash	1,318	1,549	1,437	1,398	1,441
Total investments and cash	45,429	41,531	37,142	29,872	29,673
Accrued investment income	436	368	324	217	149
Premiums receivable (net of credit allowances: 2025, $(94); 2024, $(54))	5,727	5,378	4,768	3,619	3,294
Reinsurance paid loss recoverables (net of credit allowances: 2025, $(57); 2024, $(41))	142	207	164	136	107
Reinsurance unpaid loss recoverables	4,968	2,915	2,098	2,105	1,946
Funds held by reinsureds	1,326	1,218	1,135	1,056	869
Deferred acquisition costs	1,546	1,461	1,247	962	872
Prepaid reinsurance premiums	653	869	713	610	515
Income tax asset, net	915	1,223	868	459	—
Other assets (net of credit allowances: 2025, $(17); 2024, $(9))	1,372	1,171	941	930	757
TOTAL ASSETS	62,514	56,341	49,399	39,966	38,185
Reserve for losses and loss adjustment expenses	34,312	29,889	24,604	22,065	19,009
Unearned premium reserve	7,275	7,324	6,622	5,147	4,610
Funds held under reinsurance treaties	267	27	24	13	18
Amounts due to reinsurers	642	701	650	567	450
Losses in course of payment	151	241	171	74	261
Senior notes	2,352	2,350	2,349	2,347	2,346
Long-term notes	218	218	218	218	224
Borrowings from FHLB	1,019	1,019	819	519	519
Accrued interest on debt and borrowings	21	22	22	19	17
Unsettled securities payable	0	84	137	1	17
Other liabilities	797	590	582	555	540
TOTAL LIABILITIES	47,054	42,466	36,197	31,525	28,046
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred shares, par value: $0.01; 50.0 shares authorized; no shares issued and outstanding	0	0	0	0	—
Common shares, par value: $0.01; 200.0 shares authorized; 74.4 (2025) and 74.3 (2024) outstanding before treasury shares	1	1	1	1	1
Additional paid-in capital	3,852	3,812	3,773	2,302	2,274
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $(23) at 2025 and $(177) at 2024	−52	−1,138	−934	−1,996	12
Treasury shares, at cost: 33.7 shares (2025) and 31.3 shares (2024)	−4,906	−4,108	−3,908	−3,908	—
Retained earnings	16,565	15,309	14,270	12,042	11,700
Total shareholders' equity	15,461	13,875	13,202	8,441	10,139
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	62,514	56,341	49,399	39,966	38,185

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Decrease (increase) in premiums receivable	−116	−715	−1,064	−435	−649
Decrease (increase) in funds held by reinsureds, net	138	−81	−66	−197	−151
Decrease (increase) in reinsurance recoverables	−1,453	−1,091	143	−413	−125
Decrease (increase) in income taxes	150	−277	−559	−181	68
Decrease (increase) in prepaid reinsurance premiums	360	−232	−46	−166	−128
Increase (decrease) in reserve for losses and loss adjustment expenses	3,602	5,612	2,256	3,477	2,805
Increase (decrease) in unearned premiums	−278	809	1,387	655	1,146
Increase (decrease) in amounts due to reinsurers	−235	135	18	201	186
Increase (decrease) in losses in course of payment	−98	75	93	−186	134
Change in equity adjustments in limited partnerships	−364	−261	−168	−94	−613
Distribution of limited partnership income	195	163	120	180	211
Change in other assets and liabilities, net	−463	−431	−339	−297	−292
Non-cash compensation expense	61	63	49	45	43
Amortization of bond premium (accrual of bond discount)	−166	−167	−64	55	76
Net cash provided by (used in) operating activities	3,068	4,957	4,553	3,695	3,833
Proceeds from fixed maturities matured/called/repaid - available for sale	4,497	3,783	2,310	2,626	3,893
Proceeds from fixed maturities sold - available for sale	1,571	6,257	3,849	1,403	1,916
Proceeds from fixed maturities matured/called/repaid - held to maturity	199	157	105	39	0
Proceeds from fixed maturities sold - held to maturity	10	0	0	—	—
Proceeds from equity securities sold	56	37	126	2,217	990
Distributions from other invested assets	334	409	245	266	257
Cost of fixed maturities acquired - available for sale	−10,364	−11,563	−10,653	−7,344	−8,825
Cost of fixed maturities acquired - held to maturity	−7	−49	−112	−153	0
Cost of equity securities acquired	−9	−50	−17	−1,003	−1,098
Cost of other invested assets acquired	−507	−936	−902	−1,547	−757
Net change in short-term investments	1,875	−2,494	−1,034	149	−43
Net change in unsettled securities transactions	−83	−27	181	−71	−203
Proceeds from sale of renewal rights	331	0	0	—	—
Net cash provided by (used in) investing activities	−2,096	−4,478	−5,902	−3,418	−3,869
Common shares issued (redeemed) during the period for share-based compensation, net of expense	−21	−24	−23	−17	−14
Proceeds from public offering of common shares	0	0	1,445	0	0
Purchase of treasury shares	−797	−200	0	−61	−225
Dividends paid to shareholders	−335	−334	−288	−255	−247
Net FHLB borrowings (repayments)	0	200	300	0	209
Cost of shares withheld on settlements of share-based compensation awards	−22	−25	−24	−20	−17
Net cash provided by (used in) financing activities	−1,175	−383	1,409	−359	674
EFFECT OF EXCHANGE RATE CHANGES ON CASH	−28	16	−23	39	1
Net increase (decrease) in cash	−231	112	38	−42	639
Income taxes paid (recovered)	150	397	196	171	98
Interest paid	150	147	130	98	62
Non-cash limited partnership distribution	8	23	0	0	—

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