Everest Q3 net income $255M ($6.09/sh); enters $1.2B ADC, sells retail renewal rights to AIG

EVEREST GROUP, LTD.

2025-Q3 EPS reported $27.06 revenue$13,073,000,000

Net income of $255M ($6.09 diluted EPS) vs $509M ($11.80) in Q3 2024; net operating income $316M.
Combined ratios: Group 103.4%, Reinsurance 87.0%, Insurance 138.1% including US casualty reserve strengthening.
Entered adverse development cover with $1.2B limit, two layers, covering $5.4B North America Insurance reserves, effective Oct 1, 2025.
Agreed to sell retail commercial insurance renewal rights to AIG for ~$2B GPW; expects pre-tax charge of $250-350M.
Net investment income rose to $540M (up $44M YoY); operating cash flow $1.5B.

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