Form 8-K

8-K — EVEREST GROUP, LTD.

Accession: 0001095073-26-000029

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0001095073

SIC: 6331 (FIRE, MARINE & CASUALTY INSURANCE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — everestre-20260729.htm (Primary)

EX-99.1 (everest2q26earningsrelease.htm)

GRAPHIC (everestlogo7102023croppeda.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: everestre-20260729.htm · Sequence: 1

everestre-20260729

FALSE000109507300010950732026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

July 29, 2026

Everest Group, Ltd.

(Exact name of registrant as specified in its charter)

Bermuda 1-15731 98-0365432

(State or other jurisdiction (Commission (IRS Employer

of incorporation) File Number) Identification No.)

Seon Place – 4th Floor

141 Front Street

PO Box HM 845

Hamilton, Bermuda

HM 19

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code 441-295-0006

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Class Trading Symbol(s) Name of Exchange where registered

Common Shares, $0.01 par value EG New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 12(a) of the Exchange Act. ☐

ITEM 2.02 DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On July 29, 2026, Everest Group, Ltd. (the "Registrant") issued a news release announcing its second quarter 2026 results. A copy of that news release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

In accordance with general instruction B.2 of Form 8-K, the information in this report, including exhibits, is furnished pursuant to Item 2.02 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liability of that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(c)

Exhibits

Exhibit No. Description

99.1

News Release of the Registrant, dated July 29, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EVEREST GROUP, LTD.

By: /s/ ROBERT J. FREILING

Robert J. Freiling

Senior Vice President and

Chief Accounting Officer

Dated: July 29, 2026

EXHIBIT INDEX

Exhibit

Number

Description of Document

Page No.

99.1

News Release of Registrant, dated July 29, 2026

104

Cover Page Interactive Data File (embedded

within the Inline XBRL document

EX-99.1

Filename: everest2q26earningsrelease.htm · Sequence: 2

Document

NEWS RELEASE

EVEREST GROUP, LTD.

Seon Place, 141 Front Street, 4th Floor, Hamilton HM 19, Bermuda

Contacts

Media: Dawn Lauer Investors: Matt Rohrmann

Chief Communications Officer Head of Investor Relations

908.300.7670 908.604.7343

Everest Reports Second Quarter 2026 Results

Annualized 14.2% Net Income ROE and 14.9% Net Operating Income ROE

Annualized Total Shareholder Return of 16.8%

$559 million of Net Income and Combined Ratio of 92.0%

$317 million of Underwriting Income and Combined Ratio of 90.0% from our Core Businesses*

Repurchased $395 million of Common Shares During the Quarter

HAMILTON, Bermuda – (BUSINESS WIRE) – July 29, 2026 – Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions, today reported its second quarter 2026 results.

“Everest delivered a strong quarter driven by meaningful contributions from both underwriting income across our Core businesses and investments resulting in an annualized total shareholder return of 16.8%. The results this quarter show the strength of the franchise we have built and the benefits of our actions to strengthen underwriting performance as well as optimize the balance sheet.” said Jim Williamson, Everest President and CEO. “Our Reinsurance Treaty team delivered another excellent quarter. This was clear during the mid-year renewals, where the team’s world class execution resulted in meaningful outperformance on rate and terms versus the market. Our Global Wholesale & Specialty business continues to see the benefits from our strategy to expand the portfolio in specialty lines and targeted international markets while delivering margin expansion. As we look ahead, our focus is on profitably developing our Core businesses while effectively deploying capital, where share repurchases remain a top priority.”

Second Quarter 2026 Highlights

•Net income of $559 million, equal to $14.22 per diluted share versus second quarter 2025 net income of $680 million, equal to $16.10 per diluted share

•Net operating income of $585 million, equal to $14.85 per diluted share versus second quarter 2025 net operating income of $734 million, equal to $17.36 per diluted share

•Total Shareholder Return of 16.8% annualized1; Annualized 14.2% Net Income ROE and 14.9% Net Operating Income ROE

•Book value per share of $398.83 at June 30, 2026 versus $379.83 at December 31, 2025

•Book value per share excluding unrealized gains (losses) on fixed maturity, available for sale securities of $407.67 at June 30, 2026 versus $379.70 at December 31, 2025

•Core businesses consist of our Reinsurance Treaty and Global Wholesale & Specialty segments

•$3.7 billion in gross written premium from Core businesses, a year-over-year decrease of 7.1%, which includes a 9.1% decrease for Reinsurance Treaty and a 1.0% decrease for Global Wholesale & Specialty on a comparable basis

•Combined ratio of 90.0% for Core businesses, which includes 88.5% for Reinsurance Treaty and 95.2% for Global Wholesale & Specialty

•Attritional combined ratios of 87.3% for Core businesses, which includes 85.4% for Reinsurance Treaty and 93.8% for Global Wholesale & Specialty

•Pre-tax underwriting income (loss) of $281 million for Group, $283 million for Reinsurance Treaty, $34 million for Global Wholesale & Specialty, and ($36) million for Legacy

•Net investment income of $523 million versus $532 million in the prior year quarter, driven by lower alternative investment returns.

* Core businesses consist of our Reinsurance Treaty and Global Wholesale & Specialty segments

(1) Denotes annualized figure; represents Total Shareholder Return or "TSR". Annualized TSR is calculated as year to date growth in book value per common share outstanding excluding URA(D) on fixed maturity, available for sale securities plus year-to-date dividends per share.

Consolidated Financial Summary

Quarter-to-Date Year-to-Date

June 30, June 30, June 30, June 30,

2026 2025 2026 2025

Net income (loss) $ 559 $ 680 $ 1,213 $ 890

Net income (loss) per diluted common share $ 14.22 $ 16.10 $ 30.45 $ 20.93

Net income (loss) return on average equity (annualized) 14.2% 18.2% 15.5% 11.9%

Net operating income (loss) (2)

$ 585 $ 734 $ 1,232 $ 1,010

Net operating income (loss) per diluted common share (2)

$ 14.85 $ 17.36 $ 30.95 $ 23.75

After-tax net operating income (loss) return on average equity (annualized) (2)

14.9% 19.6% 15.8% 13.5%

Book value per common share outstanding $ 398.83 $ 358.08 $ 398.83 $ 358.08

Book value per common share outstanding excluding URA(D) (2)

$ 407.67 $ 364.10 $ 407.67 $ 364.10

Total Shareholder Return ("TSR") - Annualized 16.8% 14.8%

Weighted average common shares outstanding - diluted 38.8 41.8 39.3 42.0

Common shares outstanding 38.7 41.9 38.7 41.9

Total shareholders' equity $ 15,430 $ 15,019 $ 15,430 $ 15,019

Total shareholders' equity excluding URA(D) $ 15,772 $ 15,272 $ 15,772 $ 15,272

Net investment income $ 523 $ 532 $ 1,091 $ 1,023

Total investments and cash $ 44,863 $ 44,300 $ 44,863 $ 44,300

Total Capital Return

Common share repurchases $ 395 $ 200 $ 725 $ 400

Number of common shares repurchased 1.2 0.6 2.2 1.2

Dividends per share $ 2.00 $ 2.00 $ 4.00 $ 4.00

Dividends to shareholders $ 78 $ 84 $ 158 $ 169

All values in USD millions except for per share amounts and percentages

Notes

(2) Denotes non-GAAP financial measure. See "Comments on Non-GAAP Financial Measures" for an explanation and reconciliation.

The following information summarizes the Company’s underwriting results, on a Group consolidated basis, Core businesses and by reportable segment – Reinsurance Treaty, Global Wholesale & Specialty, and Legacy, with selected commentary on these results.

Underwriting Results - Everest Group

Quarter-to-Date Year-to-Date

June 30, June 30, June 30, June 30,

2026 2025 Change 2026 2025 Change

Gross written premium $ 3,772 $ 4,680 (19.4)% $ 7,374 $ 9,071 (18.7)%

Net written premium $ 3,037 $ 4,119 (26.3)% $ 6,224 $ 7,853 (20.7)%

Net premiums earned $ 3,490 $ 3,991 (12.6)% $ 7,064 $ 7,843 (9.9)%

Loss Ratio:

Current year 59.5% 60.0% (0.5) pts 59.4% 60.6% (1.2) pts

Prior year —% 1.5% (1.5) pts (0.5)% 0.8% (1.3) pts

Catastrophe 2.7% 0.5% 2.2 pts 3.2% 7.1% (3.9) pts

Total Loss ratio 62.2% 61.9% 0.3 pts 62.1% 68.4% (6.3) pts

Commission and brokerage ratio 23.3% 22.0% 1.3 pts 23.2% 21.7% 1.5 pts

Other underwriting expenses 6.4% 6.4% 0.1 pts 6.2% 6.3% — pts

Combined ratio 92.0% 90.4% 1.6 pts 91.5% 96.4% (4.9) pts

Attritional combined ratio (4)

89.3% 88.6% 0.7 pts 88.9% 89.4% (0.5) pts

Pre-tax net catastrophe losses (5)

$ 94 $ 20 $ 224 $ 492

Pre-tax net unfavorable (favorable) prior year development $ — $ 59 $ (33) $ 59

All values in USD millions except for percentages

Notes

(4) Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, and prior year development. Attritional ratios are non-GAAP financial measures. See "Comments on Non-GAAP Financial Measures" for an explanation and reconciliation.

(5) Pre-tax net catastrophe losses are net of reinsurance and reinstatement premiums.

Underwriting Results - Core Businesses2

Quarter-to-Date Year-to-Date

June 30, June 30, June 30, June 30,

2026 2025 Change 2026 2025 Change

Gross written premium $ 3,678 $ 3,908 (5.9)% $ 7,145 $ 7,613 (6.1)%

Net written premium $ 2,965 $ 3,550 (16.5)% $ 6,063 $ 6,733 (10.0)%

Net premiums earned $ 3,167 $ 3,454 (8.3)% $ 6,342 $ 6,766 (6.3)%

Loss Ratio:

Current year 57.8% 57.3% 0.5 pts 57.5% 58.2% (0.7) pts

Prior year —% 1.8% (1.8) pts (0.5)% 0.9% (1.4) pts

Catastrophe 2.7% (0.1)% 2.8 pts 3.2% 7.8% (4.6) pts

Total Loss ratio 60.5% 59.0% 1.5 pts 60.2% 66.9% (6.7) pts

Commission and brokerage ratio 24.4% 24.0% 0.4 pts 24.5% 23.8% 0.8 pts

Other underwriting expenses 5.1% 4.0% 1.1 pts 4.9% 4.0% 0.9 pts

Combined ratio 90.0% 87.0% 3.0 pts 89.7% 94.7% (5.0) pts

Attritional combined ratio (4)

87.3% 85.6% 1.7 pts 87.0% 86.9% 0.1 pts

Pre-tax net catastrophe losses (5)

$ 85 $ (4) $ 205 $ 465

Pre-tax net unfavorable (favorable) prior year development $ — $ 63 $ (33) $ 61

All values in USD millions except for percentages

Notes

(2) Denotes non-GAAP financial measure. See "Comments on Non-GAAP Financial Measures" for an explanation and reconciliation.

(5) Pre-tax net catastrophe losses are net of reinsurance and reinstatement premiums.

Underwriting Results - Reinsurance Treaty Segment

Quarter-to-Date Year-to-Date

June 30, June 30, June 30, June 30,

2026 2025 Change 2026 2025 Change

Gross written premium 2,720 2,951 (7.8)% 5,394 5,885 (8.3)%

Net written premium 2,228 2,785 (20.0)% 4,632 5,313 (12.8)%

Net premiums earned 2,459 2,726 (9.8)% 4,915 5,306 (7.4)%

Loss Ratio:

Current year 57.1% 55.4% 1.7 pts 56.9% 56.6% 0.2 pts

Prior year —% 2.2% (2.2) pts (0.7)% 1.1% (1.8) pts

Catastrophe 3.1% —% 3.1 pts 3.4% 9.6% (6.2) pts

Total Loss ratio 60.1% 57.5% 2.6 pts 59.5% 67.3% (7.8) pts

Commission and brokerage ratio 25.5% 25.0% 0.5 pts 25.6% 24.8% 0.8 pts

Other underwriting expenses 2.9% 2.3% 0.6 pts 2.7% 2.3% 0.4 pts

Combined ratio 88.5% 84.9% 3.6 pts 87.8% 94.5% (6.7) pts

Attritional combined ratio (4)

85.4% 83.2% 2.2 pts 85.2% 85.0% 0.2 pts

Pre-tax net catastrophe losses (5)

75 — 165 446

Pre-tax net prior year reserve development — 59 (33) 59

All values in USD millions except for percentages

•Gross written premiums decreased 9.1% versus the prior year quarter on a comparable basis (constant dollar basis and excluding reinstatement premiums)2, to approximately $2.7 billion.

•Reduction in gross written premiums was primarily led by 25.0% decrease in Casualty XOL, 22.8% in Casualty Pro-Rata, 9.2% in Property Non-Catastrophe XOL, and 6.8% in Property Catastrophe XOL, when adjusting for reinstatement premiums partially offset by a 3.4% increase Property Pro-Rata.

•Attritional loss ratio increased 140 basis points over second quarter 2025 to 57.1%, while the attritional combined ratio increased 220 basis points to 85.4% versus a year ago.4

•Excluding the impact of elevated non-catastrophe weather losses, the attritional loss ratio would have been 54.4% and the attritional combined ratio would have been 82.7%.

•Pre-tax catastrophe losses were $75 million net of estimated recoveries and reinstatement premiums, driven primarily by losses associated with the Iran War and a number of mid-sized events globally. Pre-tax catastrophe losses were benign in the prior-year quarter.

Notes

(2) Denotes non-GAAP financial measure. See "Comments on Non-GAAP Financial Measures" for an explanation and reconciliation.

(5) Pre-tax net catastrophe losses are net of reinsurance and reinstatement premiums.

Underwriting Results - Global Wholesale & Specialty Segment

Quarter-to-Date Year-to-Date

June 30, June 30, June 30, June 30,

2026 2025 Change 2026 2025 Change

Gross written premium $ 958 $ 957 0.1% $ 1,751 $ 1,728 1.3%

Net written premium $ 738 $ 765 (3.5)% $ 1,430 $ 1,420 0.7%

Net premiums earned $ 709 $ 728 (2.6)% $ 1,427 $ 1,460 (2.2)%

Loss Ratio:

Current year 60.6% 64.7% (4.1) pts 59.7% 63.8% (4.1) pts

Prior year —% 0.6% (0.6) pts —% 0.1% (0.1) pts

Catastrophe 1.4% (0.6)% 2.0 pts 2.8% 1.3% 1.5 pts

Total Loss ratio 62.0% 64.7% (2.7) pts 62.5% 65.2% (2.7) pts

Commission and brokerage ratio 20.6% 20.3% 0.3 pts 20.9% 19.9% 1.0 pts

Other underwriting expenses 12.6% 10.2% 2.4 pts 12.6% 10.2% 2.4 pts

Combined ratio 95.2% 95.2% — pts 96.0% 95.4% 0.6 pts

Attritional combined ratio (4)

93.8% 94.9% (1.1) pts 93.2% 93.7% (0.5) pts

Pre-tax net catastrophe losses (5)

$ 10 $ (4) $ 40 $ 19

Pre-tax net prior year reserve development $ — $ 4 $ — $ 2

All values in USD millions except for percentages

•Gross written premiums decreased 1.0% on a comparable basis (constant dollar basis and excluding reinstatement premiums)2, to approximately $958 million as we continued to improve the mix and quality of the portfolio.

•Reduction in gross written premiums was led by 16.7% decrease in Workers' Compensation and 7.2% in Specialty Casualty almost completely offset by 10.1% increase in Other Specialty, 8.6% in Professional Liability, and 2.9% in Accident and Health.

•Attritional loss ratio improved 390 basis points over second quarter 2025 to 60.6%, while the attritional combined ratio improved 110 basis points to 93.8% versus a year ago.4

•Total expense ratio increased 270 basis points to 33.2% due to mix and lower earned premium.

•Pre-tax catastrophe losses were $10 million, net of estimated recoveries and reinstatement premiums, an increase versus the prior year quarter.

Notes

(2) Denotes non-GAAP financial measure. See "Comments on Non-GAAP Financial Measures" for an explanation and reconciliation.

(5) Pre-tax net catastrophe losses are net of reinsurance and reinstatement premiums.

Underwriting Results - Legacy Segment

Quarter-to-Date Year-to-Date

June 30, June 30, June 30, June 30,

2026 2025 2026 2025

Gross written premium $ 94 $ 772 $ 229 $ 1,459

Net written premium $ 72 $ 569 $ 161 $ 1,120

Net premiums earned $ 323 $ 538 $ 722 $ 1,078

Incurred losses and LAE

Current year 244 413 550 816

Prior year — (4) — (2)

Catastrophes 9 24 19 27

Total incurred losses and LAE 253 433 569 841

Commission, brokerage, taxes and fees 41 50 82 95

Other underwriting expenses 64 116 129 219

Underwriting income (loss) (2)

$ (36) $ (63) $ (58) $ (77)

All values in USD millions

•Our Legacy segment now encompasses our commercial retail insurance business following the announcement of the commercial retail insurance renewal rights transaction.

•Gross written premiums reflect a limited number of renewed and new policies written on the Company's paper related to the commercial retail insurance business and by the purchaser of the sports and leisure business, for a finite period post-closing.

•Net premiums earned in the quarter were largely driven by the commercial retail insurance business, which are diminishing at an accelerated pace.

Notes

(2) Denotes non-GAAP financial measure. See "Comments on Non-GAAP Financial Measures" for an explanation and reconciliation.

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. Forward-looking statements reflect management’s current expectations based on assumptions we believe are reasonable but are not guarantees of performance. Actual results may differ materially from those contained in forward-looking statements made on behalf of the Company. Forward-looking statements involve risks and uncertainties that include, but are not limited to, the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, our ability to execute divestitures, obtain regulatory approvals and effectuate strategic transactions, including the sale of our retail commercial insurance business, investment market and investment income fluctuations, trends in insured and paid losses, catastrophes, pandemics, regulatory developments and legal uncertainties, expenses related to divestitures and other factors described in our SEC filings, including but not limited to our latest Annual Report on Form 10-K and periodic reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Everest

Everest Group, Ltd. (Everest) is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE: EG) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at www.everestglobal.com.

A conference call discussing the results will be held at 8:00 a.m. Eastern Time on Thursday July 30, 2026. The call will be available on the Internet through the Company’s website at https://investors.everestglobal.com/overview.

Recipients are encouraged to visit the Company’s website to view supplemental financial information on the Company’s results. The supplemental information is located at www.everestglobal.com in the “Investors/Financials/Quarterly Results” section of the website. The supplemental financial information may also be obtained by contacting the Company directly.

_______________________________________________

Comments on Non-GAAP Financial Measures

In this Press Release, the Company has included certain non-GAAP financial measures, including after-tax net operating income (loss), after-tax net operating income (loss) per diluted share, attritional loss ratio, attritional combined ratio, gross written premiums presented on a comparable basis, net operating income return on equity ("ROE"), underwriting income, and book value per common share outstanding excluding net unrealized appreciation (depreciation) on fixed maturity, available for sale securities ("URA(D)"). The Company has also presented results of its "Core" businesses, consisting of the Reinsurance Treaty and Global Wholesale & Specialty segments (excluding the Legacy segment), to reflect the businesses that are the Company's primary strategic focus. The Company presents these non-GAAP financial measures to facilitate a deeper understanding of the profitability drivers of our business, results of operations, financial condition and liquidity. The Company believes that such measures are important to investors and other interested persons, and that these measures are a useful supplement to GAAP information concerning the Company’s performance. These measures may not, however, be comparable to similarly titled measures used by companies within or outside of the insurance industry. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, or superior to, the Company’s financial measures prepared in accordance with generally accepted accounting principles ("GAAP").

A reconciliation of the non-GAAP financial measures to the most comparable corresponding GAAP financial measures is included below.

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 release as net operating income) consists of net income (loss) excluding after-tax net gains (losses) on investments and after-tax net foreign exchange income (expense), as shown below:

(Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

(unaudited) (unaudited)

Amount Per Diluted Share Amount Per Diluted Share Amount Per Diluted Share Amount Per Diluted Share

After-tax net operating income (loss) $ 585 $ 14.85 $ 734 $ 17.36 $ 1,232 $ 30.95 $ 1,010 $ 23.75

After-tax net gains (losses) on investments (8) (0.20) (3) (0.08) (14) (0.35) (10) (0.23)

After-tax net foreign exchange income (expense) (17) (0.44) (50) (1.18) (6) (0.14) (110) (2.59)

Net income (loss) $ 559 $ 14.22 $ 680 $ 16.10 $ 1,213 $ 30.45 $ 890 $ 20.93

(Some amounts may not reconcile due to rounding.)

Although net gains (losses) on investments and net foreign exchange income (expense) are an integral part of the Company’s insurance operations, the determination of net gains (losses) on investments and foreign exchange income (expense) is independent of the insurance underwriting process. The Company believes that the level of net gains (losses) on investments and net foreign exchange income (expense) for any particular period are not indicative of the performance of the underlying business in that particular period. Providing only a GAAP presentation of net income (loss) makes it more difficult for users of the financial information to evaluate the Company’s success or failure in its basic business and may lead to incorrect or misleading assumptions and conclusions. The Company understands that the equity analysts who follow the Company focus on after-tax net operating income (loss) in their analyses for the reasons discussed above. The Company provides after-tax net operating income (loss) to investors so that they have what management believes to be a useful supplement to GAAP information concerning the Company’s performance.

Attritional Loss Ratio and Attritional Combined Ratio

The loss ratio is calculated as the sum of total incurred losses and loss adjustment expenses, divided by net premiums earned. 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 loss ratio and attritional combined ratio are defined as the loss ratio and the combined ratio, respectively, adjusted to exclude catastrophe losses, net catastrophe reinstatement premiums, and prior year development. The Company believes the attritional ratios are useful to management and investors because the adjusted ratios provide for better comparability and more accurately measure the Company’s underlying underwriting performance. Core businesses consist of the Reinsurance Treaty and Global Wholesale & Specialty segments (excluding the Legacy segment) to reflect the businesses that are the Company's primary strategic focus. The following tables are a reconciliation of the loss ratio and attritional loss ratio, and the combined ratio and attritional combined ratio for the periods noted:

Three Months Ended June 30,

2026 2025

(unaudited)

Reinsurance Treaty Global Wholesale & Specialty Core Businesses Group Reinsurance Treaty Global Wholesale & Specialty Core Businesses Group

Loss ratio 60.1 % 62.0 % 60.5 % 62.2 % 57.5 % 64.7 % 59.0 % 61.9 %

Adjustment for catastrophe losses (3.1) % (1.4) % (2.7) % (2.7) % — % 0.6 % 0.1 % (0.5) %

Adjustment for reinstatement premiums — % — % — % — % — % — % — % — %

Adjustment for prior year development — % — % — % — % (2.2) % (0.6) % (1.8) % (1.5) %

Adjustment for other items — % — % — % — % 0.3 % (0.2) % 0.2 % 0.2 %

Attritional loss ratio 57.1 % 60.6 % 57.8 % 59.5 % 55.7 % 64.5 % 57.5 % 60.1 %

(Some amounts may not reconcile due to rounding.)

Three Months Ended June 30,

2026 2025

(unaudited)

Reinsurance Treaty Global Wholesale & Specialty Core Businesses Group Reinsurance Treaty Global Wholesale & Specialty Core Businesses Group

Combined ratio 88.5 % 95.2 % 90.0 % 92.0 % 84.9 % 95.2 % 87.0 % 90.4 %

Adjustment for catastrophe losses (3.1) % (1.4) % (2.7) % (2.7) % — % 0.6 % 0.1 % (0.5) %

Adjustment for reinstatement premiums — % — % — % — % — % — % — % — %

Adjustment for prior year development — % — % — % — % (2.2) % (0.6) % (1.8) % (1.5) %

Adjustment for other items — % — % — % — % 0.4 % (0.3) % 0.3 % 0.3 %

Attritional combined ratio 85.4 % 93.8 % 87.3 % 89.3 % 83.2 % 94.9 % 85.6 % 88.6 %

(Some amounts may not reconcile due to rounding.)

Gross Written Premium on a Comparable Basis

The Company has included in this Press Release certain changes in gross written premium on a comparable basis, reflecting constant currency basis and excluding reinstatement premiums. Constant currency basis excludes the impact of foreign exchange rates. The Company provides change in gross written premium on a comparable basis to investors so that they have what management believes to be a useful supplement to GAAP information concerning the Company’s performance. Core businesses consist of the Reinsurance Treaty and Global Wholesale & Specialty segments (excluding the Legacy segment) to reflect the businesses that are the Company's primary strategic focus. The following tables are a reconciliation of gross written premium and period-over-period changes on a GAAP basis to the non-GAAP comparable basis for the periods noted:

(Dollars in millions) Quarter-to-Date

June 30, 2026 June 30, 2025 Change

(unaudited)

Gross Written Premium Gross Written Premium % Impact

Group $ 3,772 $ 4,680 (19.4) %

Adjustment for gross CAT reinstatement premiums — (2) — %

Adjustment for foreign exchange effect — 61 (1.0) %

Group (comparable basis) $ 3,772 $ 4,739 (20.4) %

Core Businesses $ 3,678 $ 3,908 (5.9) %

Adjustment for gross CAT reinstatement premiums — (2) 0.1 %

Adjustment for foreign exchange effect — 54 (1.3) %

Core Businesses (comparable basis) $ 3,678 $ 3,959 (7.1) %

Reinsurance Treaty $ 2,720 $ 2,951 (7.8) %

Adjustment for gross CAT reinstatement premiums — (2) 0.1 %

Adjustment for foreign exchange effect — 43 (1.3) %

Reinsurance Treaty (comparable basis) $ 2,720 $ 2,992 (9.1) %

Global Wholesale & Specialty $ 958 $ 957 0.1 %

Adjustment for gross CAT reinstatement premiums — — — %

Adjustment for foreign exchange effect — 10 (1.1) %

Global Wholesale & Specialty (comparable basis) $ 958 $ 967 (1.0) %

Legacy $ 94 $ 772 (87.9) %

Adjustment for gross CAT reinstatement premiums — — — %

Adjustment for foreign exchange effect — 8 (0.1) %

Legacy (comparable basis) $ 94 $ 780 (88.0) %

(Some amounts may not reconcile due to rounding.)

Net Operating Income Return On Equity ("ROE")

Net Operating Income ROE (also referred to as operating ROE) is calculated by dividing after-tax net operating income (loss) by average shareholders' equity, adjusted for average net unrealized depreciation (appreciation) of fixed maturity, available for sale securities. A reconciliation of net income, the most comparable GAAP measure, to net operating income is presented above. The Company believes net operating income ROE is a useful measure for management and investors as it allows for better comparability and removes variability when assessing the results of operations. A reconciliation of Net Operating Income ROE and Net Income ROE is shown below.

Quarter-to-Date Year-to-Date

(Dollars in millions) June 30, June 30, June 30, June 30,

2026 2025 2026 2025

(unaudited) (unaudited)

Beginning of period shareholders' equity $ 15,291 $ 14,140 $ 15,461 $ 13,875

Add: Net unrealized depreciation (appreciation) of fixed maturity, available for sale securities 369 561 (5) 849

Adjusted beginning of period shareholders' equity $ 15,660 $ 14,700 $ 15,455 $ 14,724

End of period shareholders' equity $ 15,430 $ 15,019 $ 15,430 $ 15,019

Add: Net unrealized depreciation (appreciation) of fixed maturity, available for sale securities 342 252 342 252

Adjusted end of period shareholders' equity $ 15,772 $ 15,272 $ 15,772 $ 15,272

Average adjusted shareholders' equity $ 15,716 $ 14,986 $ 15,614 $ 14,998

After-tax net operating income (loss) $ 585 $ 734 $ 1,232 $ 1,010

After-tax net gains (losses) on investments (8) (3) (14) (10)

After-tax foreign exchange income (expense) (17) (50) (6) (110)

Net income (loss) $ 559 $ 680 $ 1,213 $ 890

Return on equity (annualized)

After-tax net operating income (loss) 14.9% 19.6% 15.8% 13.5%

After-tax net gains (losses) on investments (0.2)% (0.1)% (0.2)% (0.1)%

After-tax foreign exchange income (expense) (0.4)% (1.3)% (0.1)% (1.5)%

Net income (loss) 14.2% 18.2% 15.5% 11.9%

(Some amounts may not reconcile due to rounding.)

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 comparable GAAP measure. The Company believes underwriting income is a useful measure for management and investors when assessing the performance of the Company's reinsurance and insurance business segments. Core businesses consist of the Reinsurance Treaty and Global Wholesale & Specialty segments (excluding the Legacy segment) to reflect the businesses that are the Company's primary strategic focus. A reconciliation of Underwriting Income and Net Income is shown below.

Quarter-to-Date

(Dollars in millions) June 30, 2026 June 30, 2025

(unaudited)

Reinsurance Treaty Global Wholesale & Specialty Core Businesses Legacy Group Reinsurance Treaty Global Wholesale & Specialty Core Businesses Legacy Group

Net premiums earned $ 2,459 $ 709 $ 3,167 $ 323 $ 3,490 $ 2,726 $ 728 $ 3,454 $ 538 $ 3,991

Less: Incurred losses and LAE 1,478 439 1,917 253 2,170 1,568 471 2,039 433 2,472

Less: Commission, brokerage, taxes and fees 626 146 773 41 814 682 148 830 50 880

Less: Other underwriting expenses 71 89 161 64 225 64 74 138 116 254

Underwriting income (loss) $ 283 $ 34 $ 317 $ (36) $ 281 $ 413 $ 35 $ 448 $ (63) $ 385

Net investment income 523 532

Net gains (losses) on investments (8) (5)

Corporate expenses (33) (31)

Interest, fee and bond issue cost amortization expense (36) (38)

Other income (expense) (45) (27)

Income tax benefit (expense) (124) (135)

Net income (loss) $ 559 $ 680

(Some amounts may not reconcile due to rounding.)

Book value per common share outstanding excluding URA(D)

Book value per common share outstanding excluding net unrealized appreciation (depreciation) of fixed maturity, available for sale securities ("URA(D)") is calculated as reported shareholders' equity less URA(D), divided by common shares outstanding. Book value per share is the most comparable GAAP measure. The Company believes this metric is useful to management and investors as it shows the value of shareholder returns on a per share basis after eliminating the variability of investments held at fair value. Please see the table below for a reconciliation of book value per common share outstanding (excluding URA(D)) and book value per share.

Annualized Total Shareholder Return

Annualized TSR ("TSR") is calculated as year-to-date growth in book value per common share outstanding (excluding URA(D)) plus year-to-date dividends per share. As further discussed above, book value per common share outstanding (excluding URA(D)) is a non-GAAP measure. Please see the table below for a reconciliation of book value per common share outstanding (excluding URA(D)) and book value per share.

As of

June 30, June 30,

2026 2025

End of period shareholders' equity $ 15,430 $ 15,019

Net URA(D) 342 252

Adjusted end of period shareholders' equity $ 15,772 $ 15,272

Common shares outstanding 38.7 41.9

Book value per common share outstanding $ 398.83 $ 358.08

Less: URA(D) of fixed maturity, available for sale securities (8.84) (6.02)

Book value per common share outstanding (excluding URA(D)) $ 407.67 $ 364.10

Total Shareholder Return (TSR) 16.8% 14.8%

(Some amounts may not reconcile due to rounding.)

--Financial Details Follow--

EVEREST GROUP, LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

Three Months Ended

June 30, Six Months Ended

June 30,

(In millions of U.S. dollars, except per share amounts) 2026 2025 2026 2025

(unaudited) (unaudited)

REVENUES:

Premiums earned $ 3,490 $ 3,991 $ 7,064 $ 7,843

Net investment income 523 532 1,091 1,023

Net gains (losses) on investments (8) (5) (17) (12)

Other income (expense) (45) (27) (108) (100)

Total revenues 3,961 4,491 8,029 8,754

CLAIMS AND EXPENSES:

Incurred losses and loss adjustment expenses 2,170 2,472 4,388 5,366

Commission, brokerage, taxes and fees 814 880 1,638 1,704

Other underwriting expenses 225 254 441 492

Corporate expenses 33 31 71 52

Interest, fees and bond issue cost amortization expense 36 38 71 76

Total claims and expenses 3,278 3,676 6,609 7,690

INCOME (LOSS) BEFORE TAXES 683 815 1,420 1,064

Income tax expense (benefit) 124 135 207 173

NET INCOME (LOSS) $ 559 $ 680 $ 1,213 $ 890

Other comprehensive income (loss), net of tax:

Unrealized appreciation (depreciation) ("URA(D)") of securities arising during the period 15 301 (360) 585

Reclassification adjustment for realized losses (gains) included in net income (loss) 12 7 13 12

Total URA(D) of securities arising during the period 27 308 (347) 597

Foreign currency translation and other adjustments 3 164 (32) 228

Reclassification adjustment for amortization of net (gain) loss included in net income (loss) — (8) (1) (8)

Total benefit plan net gain (loss) for the period — (8) (1) (8)

Total other comprehensive income (loss), net of tax 30 465 (380) 817

COMPREHENSIVE INCOME (LOSS) $ 589 $ 1,145 $ 832 $ 1,707

EARNINGS PER COMMON SHARE:

Basic $ 14.22 $ 16.10 $ 30.45 $ 20.93

Diluted 14.22 16.10 30.45 20.93

EVEREST GROUP, LTD.

CONSOLIDATED BALANCE SHEETS

June 30, December 31,

(In millions of U.S. dollars, except par value per share) 2026 2025

(unaudited)

ASSETS:

Fixed maturities - available for sale, at fair value

(amortized cost: 2026, $34,912; 2025, $34,620, credit allowances: 2026, $(64); 2025, $(68)) $ 34,445 $ 34,573

Fixed maturities - held to maturity, at amortized cost

(fair value: 2026, $568; 2025, $576, net of credit allowances: 2026, $(8); 2025, $(6)) 568 567

Equity securities, at fair value 185 180

Other invested assets 6,044 5,796

Short-term investments 2,503 2,994

Cash 1,117 1,318

Total investments and cash 44,863 45,429

Accrued investment income 411 436

Premiums receivable (net of credit allowances: 2026, $(99); 2025, $(94)) 5,595 5,727

Reinsurance loss recoverables (net of credit allowances: 2026, $(61); 2025, $(57)) 5,092 5,110

Funds held by reinsureds 1,408 1,326

Deferred acquisition costs 1,454 1,546

Prepaid reinsurance premiums 710 653

Income tax asset, net 952 915

Other assets (net of credit allowances: 2026, $(17); 2025, $(17)) 1,682 1,372

TOTAL ASSETS $ 62,167 $ 62,514

LIABILITIES:

Reserve for losses and loss adjustment expenses 34,735 34,312

Unearned premium reserve 6,436 7,275

Funds held under reinsurance treaties 267 267

Amounts due to reinsurers 806 642

Losses in course of payment 124 151

Senior notes 2,352 2,352

Long-term notes 218 218

Borrowings from FHLB 1,019 1,019

Accrued interest on debt and borrowings 21 21

Unsettled securities payable 5 —

Other liabilities 753 797

Total liabilities 46,737 47,054

SHAREHOLDERS' EQUITY:

Preferred shares, par value: $0.01; 50.0 shares authorized; no shares issued and outstanding — —

Common shares, par value: $0.01; 200.0 shares authorized; 74.5 (2026) and 74.4 (2025)

shares issued and outstanding 1 1

Additional paid-in capital 3,871 3,852

Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit)

of $(124) at 2026 and $(23) at 2025 (432) (52)

Treasury shares, at cost; 35.8 shares (2026) and 33.7 shares (2025) (5,630) (4,906)

Retained earnings 17,620 16,565

Total shareholders' equity 15,430 15,461

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 62,167 $ 62,514

EVEREST GROUP, LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Six Months Ended

June 30,

(In millions of U.S. dollars) 2026 2025

(unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income (loss) $ 1,213 $ 890

Adjustments to reconcile net income to net cash provided by operating activities:

Decrease (increase) in premiums receivable 78 (662)

Decrease (increase) in funds held by reinsureds, net (85) (79)

Decrease (increase) in reinsurance recoverables (149) 199

Decrease (increase) in income taxes 59 152

Decrease (increase) in prepaid reinsurance premiums (90) 85

Increase (decrease) in reserve for losses and loss adjustment expenses 669 1,688

Increase (decrease) in unearned premiums (788) 63

Increase (decrease) in amounts due to reinsurers 212 12

Increase (decrease) in losses in course of payment (27) 12

Change in equity adjustments in limited partnerships (240) (140)

Distribution of limited partnership income 90 74

Change in other assets and liabilities, net — (249)

Non-cash compensation expense 40 26

Amortization of bond premium (accrual of bond discount) (60) (78)

Net (gains) losses on investments 17 12

Net cash provided by (used in) operating activities 939 2,007

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from fixed maturities matured/called/repaid - available for sale 2,174 2,129

Proceeds from fixed maturities sold - available for sale 1,083 280

Proceeds from fixed maturities matured/called/repaid - held to maturity 69 105

Proceeds from fixed maturities sold - held to maturity — 10

Proceeds from equity securities sold — 54

Distributions from other invested assets 119 223

Cost of fixed maturities acquired - available for sale (3,820) (5,767)

Cost of fixed maturities acquired - held to maturity (69) (4)

Cost of equity securities acquired (3) (2)

Cost of other invested assets acquired (224) (303)

Net change in short-term investments 470 2,299

Net change in unsettled securities transactions 1 (38)

Net cash provided by (used in) investing activities (199) (1,014)

CASH FLOWS FROM FINANCING ACTIVITIES:

Common shares issued (redeemed) during the period for share-based compensation, net of expense (21) (19)

Purchase of treasury shares (725) (400)

Dividends paid to shareholders (158) (169)

Cost of shares withheld on settlements of share-based compensation awards (24) (20)

Net cash provided by (used in) financing activities (927) (608)

EFFECT OF EXCHANGE RATE CHANGES ON CASH 26 (32)

Net change in cash including balances classified as held-for-sale (161) 352

Net change in cash balances classified as held-for-sale (40) —

Cash, beginning of period 1,318 1,549

Cash, end of period $ 1,117 $ 1,902

SUPPLEMENTAL CASH FLOW INFORMATION:

Income taxes paid (recovered) $ 143 $ 16

Interest paid 71 75

NON-CASH TRANSACTIONS:

Non-cash restructure of fixed maturity securities - available for sale and other invested assets — 39

Non-cash restructure of fixed maturity securities - available for sale and equity securities 6 —

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