Everest Group reports $3.71 billion revenue for Q3 2026

Cover page 2 changes

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For the quarterly period ended June September 30, 2026

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Number of Shares Outstanding at July 27, October 23, 2026

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Exhibits 2 changes

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This report 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 federal securities laws. In some cases, these statements can be identified by the use of forward-looking words such as "may", "will", "should", "could", "anticipate", "estimate", "expect", "plan", "believe", "predict", "potential" and "intend". Forward-looking statements only reflect our expectations and are not guarantees of performance. These statements involve risks, uncertainties and assumptions. Actual events or results may differ materially from those expressed in forward-looking statements. Important factors that could cause actual events or results to be materially different from our forward-looking statements are discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC") and include, but are not limited to, those described under the caption "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K (the "Form 10-K filing") and our Quarterly Reports on Form 10-Q (the "10-Q filings"). These include:

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• the effects of litigation, new regulations, regulatory oversight and our failure to comply with insurance laws and regulations and other regulatory challenges;

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Financial statements 691 changes

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June September 30, December 31,

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Fixed maturities - available for sale, at fair value $ 34,445 33,058 $ 34,573 (amortized cost: 2026, $ 34,912 34,680 ; 2025, $ 34,620 , credit allowances: 2026, $( 64 115 ); 2025, $( 68 ))

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(fair value: 2026, $ 568 549 ; 2025, $ 576 , net of credit allowances: 2026, $( 8 7 ); 2025, $( 6 ))

Equity securities, at fair value 185 161 180

Other invested assets 6,044 6,141 5,796

Short-term investments 2,503 3,055 2,994

Total investments and cash 44,863 43,965 45,429

Accrued investment income 411 408 436

Premiums receivable (net of credit allowances: 2026, $( 99 112 ); 2025, $( 94 ))

Reinsurance loss recoverables (net of credit allowances: 2026, $( 61 62 ); 2025, $( 57 ))

Funds held by reinsureds 1,408 1,392 1,326

Deferred acquisition costs 1,454 1,460 1,546

Prepaid reinsurance premiums 710 871 653

Income tax asset, net 952 1,322 915

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TOTAL ASSETS $ 62,167 62,052 $ 62,514

Reserve for losses and loss adjustment expenses $ 34,735 35,288 $ 34,312

Unearned premium reserve 6,436 6,409 7,275

Funds held under reinsurance treaties 267 273 267

Amounts due to reinsurers 806 1,013 642

Losses in course of payment 124 213 151

Senior notes 2,352 2,353 2,352

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Other liabilities 753 797

Total liabilities 46,737 47,054

Accrued interest on debt and borrowings 21 43 21

Unsettled securities payable 5 30 —

Other liabilities 943 797

Total liabilities 47,800 47,054

Commitments and contingencies (Note 11) 12)

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Additional paid-in capital 3,871 3,891 3,852

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of $( 124 335 ) at 2026 and $( 23 ) at 2025

Treasury shares, at cost; 35.8 shares 37.1 (2026) and 33.7 shares (2025)

Retained earnings 17,620 17,777 16,565

Total shareholders' equity 15,430 14,252 15,461

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 62,167 62,052 $ 62,514

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June 30, Six Months Ended

September 30, Nine Months Ended

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

Net investment income 523 532 1,091 1,023

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

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

Premiums earned $ 3,156 $ 3,855 $ 10,220 $ 11,698

Net investment income 634 540 1,725 1,563

Net gains (losses) on investments ( 8 68 ) ( 5 47 ) ( 17 86 ) ( 12 59 )

Other income (expense) ( 9 ) ( 29 ) ( 117 ) ( 129 )

Total revenues 3,713 4,319 11,742 13,073

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

Other underwriting expenses 225 254 441 492

Corporate expenses 33 31 71 52

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

Incurred losses and loss adjustment expenses 2,170 2,472 4,388 5,366 2,432 2,837 6,819 8,203

Commission, brokerage, taxes and fees 747 890 2,386 2,595

Other underwriting expenses 200 258 641 750

Corporate expenses 30 27 101 79

Interest, fees and bond issue cost amortization expense 36 38 71 76 107 114

Total claims and expenses 3,445 4,050 10,054 11,740

INCOME (LOSS) BEFORE TAXES 268 269 1,688 1,332

Income tax expense (benefit) 36 14 243 187

NET INCOME (LOSS) $ 233 $ 255 $ 1,445 $ 1,145

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

Unrealized appreciation (depreciation) ("URA(D)") of securities arising during the period 15 301 ( 360 935 ) 585 129 ( 1,295 ) 714

Reclassification adjustment for realized losses (gains) included in net income (loss) 12 7 13 12 44 37 57 48

Total URA(D) of securities arising during the period 27 308 ( 347 891 ) 597 165 ( 1,238 ) 762

Foreign currency translation and other adjustments 3 164 9 1 ( 32 23 ) 228 230

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 ( 380 882 ) 817 167 ( 1,262 ) 984

COMPREHENSIVE INCOME (LOSS) $ ( 649 ) $ 422 $ 183 $ 2,129

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Basic $ 14.22 $ 16.10 $ 30.45 $ 20.93

Diluted 14.22 16.10 30.45 20.93

Basic $ 6.12 $ 6.09 $ 36.85 $ 27.06

Diluted $ 6.12 $ 6.09 $ 36.85 $ 27.06

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June 30, Six Months Ended

September 30, Nine Months Ended

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Balance end of period 38.7 41.9 38.7 41.9

Balance beginning of period 39.8 42.5 38.7 41.9 40.7 43.0

Issued (redeemed) during the period, net — — 0.1 0.1 0.2

Treasury shares acquired ( 1.2 ) 1.3 ) 0.6 — ( 2.2 3.4 ) ( 1.2 )

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and 611 more changes in the filing

MD&A 854 changes

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Effective January 1, 2026, we changed our reportable segments, previously reported as Reinsurance and Insurance, to Reinsurance Treaty, Global Wholesale & Specialty, and Legacy, following the sale of the renewal rights for the Commercial Retail Insurance business in the majority of our geographic regions to American International Group, Inc. ("AIG"). This reflects our sharpened focus on our global Reinsurance Treaty business as well as the Global Wholesale & Specialty business, and positions the Company for strong performance across market cycles. Accordingly, we revised the presentation of reportable segments to appropriately reflect how the business segments are now managed by recasting specific sections of its 2025 10-K, filed with the SEC on a Current Report Form 8-K dated June 3, 2026.

Our Legacy segment primarily includes the divested and held-for-sale parts of the commercial retail insurance business and the results of our sports and leisure business that was sold in October 2024 consisting of policies written prior to the sale and certain new and renewed policies written on the Company's paper post sale. Additionally, this segment includes run-off asbestos and environmental ("A&E") exposures, certain discontinued insurance programs, and certain discontinued insurance and reinsurance coverage classes. The Legacy segment does not generally sell insurance or reinsurance products but is responsible for the management of existing policies and settlement of related losses. Certain commercial retail insurance policies will be renewed on the Company's paper for a finite period in 2026. As a result, the Company has three reportable segments, however, only two that actively sell products, Reinsurance Treaty and Global Wholesale & Specialty, consistent with how the on-going business is managed. These segment presentation changes have been reflected retrospectively. See Note 7 of the Notes to the Consolidated Financial Statements for a summary of segment results.

The following is a discussion of our results of operations, financial condition and liquidity and capital resources for the three and six nine months ended June September 30, 2026. This discussion should be read in conjunction with the consolidated financial statements and related notes, under Part I - Item 1 of this Form 10-Q, as well as the audited consolidated financial statements and notes thereto for the year ended December 31, 2025, included in the Company's 2025 Annual Report on Form 10-K and recast 2025 Form 10-K, as filed on the Current Report on Form 8-K dated June 3, 2026.

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Securities Litigation

See Item 1 – Legal Proceedings.

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As further detailed below in the section titled "Item 1A. – Risk Factors", during the three months ended June 30, 2026, the Bermuda Monetary Authority (the "BMA") has informed the Company of its formal determination that it is appropriate for the BMA to become Group Supervisor for the Company and has assigned the Company a group registration number. The BMA has also specified that Everest Reinsurance (Bermuda) Ltd. ("Bermuda Re") would become the "designated insurer" responsible for group-level regulatory compliance for Everest, pursuant to Section 27B of the Insurance Act 1978 (the "Act"). The Company expects that it will be formally designated as an Internationally Active Insurance Group ("IAIG") by the BMA. The Company and Bermuda Re are discussing with the BMA the applicable requirements of group supervision during a twelve-month transition period that ends in January 2027. with the BMA authorized to grant extensions of up to an additional twelve months upon application. During this period, the Company is analyzing compliance requirements and potential focus areas for enhancement and taking steps necessary to comply with the BMA's group supervision requirements. Under the Act, the Company will be subject to group-level solvency and capital requirements, consolidated financial reporting and auditing obligations, recovery planning requirements and prior notification or approval requirements for certain material changes within the group. As Group Supervisor, the BMA will also chair a Supervisory College, coordinating with other regulators that supervise Everest's licensed entities in other jurisdictions. Everest's continuing assessment of and compliance with BMA group supervision will require the Company to allocate considerable time and resources that could impact the operations of our insurance and/or non-insurance subsidiaries or may result in increased costs or affect our financial condition. Group supervision and IAIG status could also affect our prescribed capital requirements, the terms of and structure of our regulatory capital, intercompany capital transactions, borrowing requirements and terms, and ratings and may significantly increase our cost of regulatory compliance.

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Sale of Colombian Commercial Retail Insurance Operations

On May 19, 2026, the Company entered into a definitive agreement to sell its Colombian Commercial Retail Insurance Operations, Everest Compañía de Seguros Generales Colombia S.A. ("Everest Colombia"), to AIG. The transaction is anticipated to close in early 2027, pursuant to customary regulatory approvals and closing conditions.

As of June 30, 2026, Everest Colombia assets and liabilities are presented as held-for sale within Other assets and Other liabilities on the Company's consolidated balance sheet. Refer to Note 6 of the Notes to the Consolidated Financial Statements for additional information.

Sale of Canadian Commercial Retail Insurance Operations

On March 22, 2026, Everest Underwriting Group (Ireland) Limited ("EUGIL"), an Irish direct subsidiary of the Company, entered into a Purchase Agreement with a Buyer, pursuant to which EUGIL agreed to sell to Buyer, or a Canadian affiliate thereof, all of the outstanding shares of capital of Everest Canada, a Canadian insurance company and a wholly owned subsidiary of EUGIL, representing the Company's Canadian Commercial Retail Insurance operations for C$410 million, subject to adjustment. The closing of the transaction pursuant to the Purchase Agreement is subject to the satisfaction of customary closing conditions, including the receipt of antitrust approval from the Commissioner of Competition and insurance regulatory approval from the Minister of Finance (Canada).

In connection with the Purchase Agreement, (i) Everest Canada will enter into a loss portfolio transfer reinsurance agreement with Everest Reinsurance Company (Canadian Branch), a Delaware reinsurance company and affiliate of EUGIL ("ERC - Canadian Branch"), pursuant to which ERC - Canadian Branch will reinsure certain liabilities of Everest Canada with respect to the insurance business written prior to the closing of the transaction, (ii) EUGIL or an affiliate thereof and Buyer or an affiliate thereof will enter into a transition services agreement for specified transition services to be provided to Buyer and its affiliates and (iii) EUGIL and its affiliates, on the one hand, and Buyer and its affiliates, on the other hand, will enter into such other ancillary agreements as contemplated in the Purchase Agreement. As a result of the loss portfolio transfer reinsurance agreement described in item (i), assets held-for-sale will be comprised of only investments and cash at the time of the transaction close.

The transaction is anticipated to close in the second half of 2026, pursuant to customary regulatory approvals and closing conditions. For more details, see the Current Report on Form 8-K filed with the SEC on March 23, 2026 and the Purchase Agreement attached as Exhibit 10.2 to the quarterly report on Form 10-Q for the three months ended March 31, 2026.

As of June 30, 2026, Everest Canada assets and liabilities are presented as held-for sale within Other assets and Other liabilities on the Company's consolidated balance sheet. Refer to Note 6 of the Notes to the Consolidated Financial Statements for additional information.

On June 17, 2026, the Company announced that it has partnered with Stone Point Insurance Solutions ("Stone Point") to sponsor the launch of Annapurna Re, Ltd. ("Annapurna Re"), a Bermuda-based collateralized insurer and special purpose vehicle (commonly referred to as a reinsurance "sidecar") structured as a segregated accounts company. Funds managed by Stone Point will serve as the inaugural, anchor investors in this multi-year vehicle. This structure legally isolates the assets and liabilities funded by third-party investors from the Company's general accounts.

Adverse Development Cover Reinsurance Agreements

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The adverse development cover ("ADC") is composed of three layers. The first layer is an "in the money" layer whereby the ADC attachment point was $1,250 million below the Company's North American Insurance and Legacy segment liability subject reserves of $5.4 billion held as of September 30, 2025. The second layer is $700 million in excess of the $5.4 billion. The Company transferred $1,250 million of in-the-money reserves in consideration for the first two layers upon closing of the transaction. The third layer is $500 million, for which the Company paid approximately $122 million of consideration upon closing of the transaction. The Company has a co-participation of $100 million in each of the second and third layers. For more details, see Form 8-K filed with the SEC on October 27, 2025 and the adverse development reinsurance agreements attached thereto and incorporated by reference in Exhibits 10.57 and 10.58 to the Company's Annual Report on Form 10-K. The total covered losses ceded to State National Reinsurer as of June 30, 2026 and December 31, 2025 were $1.26 billion and $1.25 billion, respectively. The aggregated unexpired limit for State National Reinsurer as of June 30, 2026 and December 31, 2025 was $592 million and $597 million, respectively. The aggregated unexpired limit for MS Transverse Reinsurer as of June 30, 2026 and December 31, 2025 was $400 million.

The agreements reinsure potential adverse loss development for accident years 2024 and prior arising from substantially all of the Ceding Companies' North American liabilities within the Insurance Global Wholesale & Specialty and Legacy segments ("Subject Business") up to a gross limit of $1.2 billion. Certain liabilities are excluded from the Subject Business, including among others those related to the Asbestos and Environmental ("A&E") reserves included in the Legacy segment. At the time the Company entered into the agreement, the carried reserves held for the Subject Business, pursuant to the Reinsurance Agreements, were $5.4 billion.

Under the State National Reinsurance Agreement, the Company provided in total consideration a reinsurance premium of $1.3 billion, including interest, to State National Reinsurer to assume $1.3 billion of carried reserves as of September 30, 2025, and potential subsequent adverse development for net paid losses on an approximately 85.7 percent coinsurance basis up to an aggregate limit of $600 million above the Company's net carried reserves for the Subject Business.

Under the State National Reinsurance Agreement $250 million of the reinsurance premium was placed into a funds withheld collateral trust account as security for State National Reinsurer's claim payment obligations to the Company.

Under the MS Transverse Reinsurance Agreement, the Company paid a reinsurance premium of $122 million to MS Transverse Reinsurer to assume potential subsequent adverse development for net paid losses on an 80 percent coinsurance basis up to an aggregate limit of $400 million. The $122 million payment to MS Transverse Reinsurer exceeds the retroactive reinsured liabilities and represents excess compensation for the uncertainty of future claims development; as a result, the Company recognized an immediate pre-tax loss of $122 million in Incurred losses and loss adjustment expenses in the Company's 2025 consolidated statement of operations. Mitsui Sumitomo Insurance Company Limited, the parent of MS Transverse Reinsurer, has provided a parental guarantee to secure its obligations under the agreement.

The Company has retained the risk of collection on amounts due from other third-party reinsurers and continues to be responsible for claims handling and other administrative services, subject to certain conditions.

As of September 30, 2026 and December 31, 2025, the Company had a deferred gain of $9 million and $3 million, respectively. The deferred gain would be recognized over the claim settlement period in the proportion of the amount of cumulative ceded losses collected from the reinsurer to the estimated ultimate reinsurance recoveries. The total covered losses ceded to State National Reinsurer as of September 30, 2026 and December 31, 2025 were $1.3 billion and $1.3 billion, respectively. The aggregated unexpired limit for State National Reinsurer as of September 30, 2026 and December 31, 2025 was $591 million and $597 million, respectively. The aggregated unexpired limit for MS Transverse Reinsurer as of September 30, 2026 and December 31, 2025 was $400 million.

For more details, see Form 8-K filed with the SEC on October 27, 2025 and the adverse development reinsurance agreements attached thereto and incorporated by reference in Exhibits 10.57 and 10.58 to the Company's Annual Report on Form 10-K.

Divestitures of Commercial Retail Insurance Operations

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(Decrease) Six Months Ended

Sale of Canadian Commercial Retail Insurance Operations

On March 22, 2026, Everest Underwriting Group (Ireland) Limited ("EUGIL"), an Irish direct subsidiary of the Company, entered into a Purchase Agreement with Buyer, pursuant to which EUGIL agreed to sell to Buyer, or a Canadian affiliate thereof, all of the outstanding shares of capital of Everest Canada, a Canadian insurance company and a wholly owned subsidiary of EUGIL, representing the Company's Canadian Commercial Retail Insurance operations. The closing of the transaction pursuant to the Purchase Agreement is subject to the satisfaction of customary closing conditions, including the receipt of antitrust approval from the Commissioner of Competition and insurance regulatory approval from the Minister of Finance (Canada).

In connection with the Purchase Agreement, (i) Everest Canada will enter into a loss portfolio transfer reinsurance agreement with Everest Reinsurance Company (Canadian Branch), a Delaware reinsurance company and affiliate of EUGIL ("ERC - Canadian Branch"), pursuant to which ERC - Canadian Branch will reinsure certain liabilities of Everest Canada with respect to the insurance business written prior to the closing of the transaction, (ii) EUGIL or an affiliate thereof and Buyer or an affiliate thereof will enter into a transition services agreement for specified transition services to be provided to Buyer and its affiliates and (iii) EUGIL and its affiliates, on the one hand, and Buyer and its affiliates, on the other hand, will enter into such other ancillary agreements as contemplated in the Purchase Agreement. As a result of the loss portfolio transfer reinsurance agreement described in item (i), assets held-for-sale will be comprised of only investments and cash at the time of the transaction close.

On October 1, 2026, the Company announced the completion of the sale of its Canadian Commercial Retail Insurance Operations. For more details, see the Current Report on Form 8-K filed with the SEC on March 23, 2026 and the Purchase Agreement attached as Exhibit 10.2 to the quarterly report on Form 10-Q for the three months ended March 31, 2026.

As of September 30, 2026, Everest Canada assets and liabilities are presented as held-for-sale within Other assets and Other liabilities on the Company's consolidated balance sheet. Refer to Note 6 of the Notes to the Consolidated Financial Statements for additional information.

Sale of Colombian Commercial Retail Insurance Operations

On May 19, 2026, the Company entered into a definitive agreement to sell its Colombian Commercial Retail Insurance Operations, Everest Compañía de Seguros Generales Colombia S.A. ("Everest Colombia"), to AIG. The transaction is anticipated to close during the fourth quarter of 2026, pursuant to customary regulatory approvals and closing conditions.

As of September 30, 2026, Everest Colombia assets and liabilities are presented as held-for-sale within Other assets and Other liabilities on the Company's consolidated balance sheet. Refer to Note 6 of the Notes to the Consolidated Financial Statements for additional information.

Sale of Mexican Commercial Retail Insurance Operations

On August 5, 2026, the Company entered into a definitive agreement to sell its Mexican Commercial Retail Insurance operations, Compañía de Seguros Generales Everest Mexico, S.A. de C.V. ("Everest Mexico"), to Fairfax Financial Holdings Limited ("Fairfax"), a global property and casualty insurance and reinsurance company. The transaction is anticipated to close in 2027.

As of September 30, 2026, Everest Mexico assets and liabilities are presented as held-for-sale within Other assets and Other liabilities on the Company's consolidated balance sheet. Refer to Note 6 of the Notes to the Consolidated Financial Statements for additional information.

Consolidated Financial Summary.

We monitor and evaluate our overall performance based upon financial results. The following table displays a summary of the consolidated net income (loss) ratios and shareholders' equity for the periods indicated:

September 30, Percentage

(Decrease) Nine Months Ended

September 30, Percentage

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

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

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

Net investment income 523 532 (1.6) % 1,091 1,023 6.6 %

Net gains (losses) on investments (8) (5) 46.1 % (17) (12) 43.1 %

Other income (expense) (45) (27) 64.9 % (108) (100) 8.1 %

Total revenues 3,961 4,491 (11.8) % 8,029 8,754 (8.3) %

Gross written premiums $ 3,742 $ 4,375 (14.5) % $ 11,116 $ 13,446 (17.3) %

Net written premiums 2,968 3,754 (20.9) % 9,192 11,607 (20.8) %

Premiums earned $ 3,156 $ 3,855 (18.1) % $ 10,220 $ 11,698 (12.6) %

Net investment income 634 540 17.4 % 1,725 1,563 10.4 %

Net gains (losses) on investments (68) (47) 45.6 % (86) (59) 45.1 %

Other income (expense) (9) (29) (69.1) % (117) (129) (9.4) %

Total revenues 3,713 4,319 (14.0) % 11,742 13,073 (10.2) %

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Incurred losses and loss adjustment expenses 2,170 2,472 (12.2) % 4,388 5,366 (18.2) %

Commission, brokerage, taxes and fees 814 880 (7.5) % 1,638 1,704 (3.9) %

Other underwriting expenses 225 254 (11.4) % 441 492 (10.4) %

Corporate expenses 33 31 3.7 % 71 52 35.1 %

Total claims and expenses 3,278 3,676 (10.8) % 6,609 7,690 (14.1) %

INCOME (LOSS) BEFORE TAXES 683 815 (16.2) % 1,420 1,064 33.5 %

Income tax expense (benefit) 124 135 (8.2) % 207 173 19.5 %

NET INCOME (LOSS) $ 559 $ 680 (17.8) % $ 1,213 $ 890 36.2 %

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

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

Other underwriting expense ratio 6.4 % 6.4 % 0.1 6.2 % 6.3 % —

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

December 31, Percentage

(Dollars in millions, except per share amounts) 2026 2025

Balance sheet data (1) :

Total investments and cash $ 44,863 $ 45,429 (1.2) %

Total assets 62,167 62,514 (0.6) %

Reserve for losses and loss adjustment expenses 34,735 34,312 1.2 %

Total debt 3,589 3,589 — %

Total liabilities 46,737 47,054 (0.7) %

Shareholders' equity 15,430 15,461 (0.2) %

Book value per share 398.83 379.83 5.0 %

(NM, not meaningful)

Incurred losses and loss adjustment expenses (1)

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and 774 more changes in the filing

Market risk 1 change

Market Risk Instruments. See Refer to "Liquidity and Capital Resources - Market Sensitive Instruments" in Part I – Item 2 of this Form 10-Q.

Controls and procedures 1 change

As of the end of the period covered by this report, our management carried out an evaluation, with the participation of the Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")). Based on their evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to the Company's management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Our management, with the participation of the Chief Executive Officer and Chief Financial Officer, also conducted an evaluation of our internal control over financial reporting to determine whether any changes occurred during the quarter covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. Based on that evaluation, there has been no such change during the quarter covered by this report.

Legal proceedings 2 changes

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On October 28, 2026, two purported shareholders filed a putative securities class action in the United States District Court for the Southern District of New York against Everest Group, Ltd. and certain current and former officers. The complaint purports to assert claims on behalf of purchasers of the Company's common shares during the period from February 8, 2024 through October 27, 2025 and alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint generally alleges that defendants made materially false or misleading statements or omissions concerning, among other things, the Company's U.S. casualty business, underwriting, pricing, loss development and reserves, and seeks damages and other relief. The Company intends to vigorously defend the action. The litigation is at a preliminary stage, and the Company is unable at this time to predict its outcome or reasonably estimate the amount or range of any potential loss.

Aside from litigation and arbitrations related to these insurance and reinsurance agreements and as otherwise referred to above, the Company is not a party to any other material litigation or arbitration.

Risk factors 5 changes

2 unchanged paragraphs

The insurance and reinsurance regulatory framework continues to be subject to increased scrutiny in many jurisdictions, including the U.S., Bermuda and Europe. The International Association of Insurance Supervisors ("IAIS") is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, including Bermuda and the U.S. states (through the National Association of Insurance Commissioners, or "NAIC"). In November 2019, the IAIS adopted the Holistic Framework for Systemic Risk in the Insurance Sector ("Holistic Framework") and a Common Framework ("ComFrame") for the Supervision of Internationally Active Insurance Groups ("IAIGs"), which is focused on the group-wide supervision of IAIGs.

The insurance and reinsurance regulatory framework continues to be subject to increased scrutiny in many jurisdictions, including the U.S., Bermuda and Europe. The International Association of Insurance Supervisors has in place a Common Framework for the supervision of Internationally Active Insurance Groups ("IAIGs"), which is focused on the group-wide supervision of IAIGs. Effective January 7, 2026, the Bermuda Insurance Amendment (No. 2) Act 2025 (the "Amendment") expanded the Bermuda Monetary Authority's ("BMA") group supervision framework under the Bermuda Insurance Act 1978 (the "Act"). Under the Amendment, the BMA now designates and registers non-regulated insurance holding companies, including insurance groups headed by either (a) a specified insurer or (b) a Bermuda company that is the ultimate parent company of an insurance group. The BMA also embedded the ComFrame group supervision requirements, including risk-based insurance capital standards, and requirement for a recovery plan, in the Act and related regulations in January 2026. Since the Company is incorporated in Bermuda and is the ultimate parent of Everest's insurance group, the Company is subject to group supervision by the BMA under the Amendment Act.

During the three months ended June 30, 2026, the BMA informed the Company of its formal determination that it is appropriate for the BMA to become Group Supervisor for the Company and specified that Bermuda Re would become the "designated insurer" responsible for group-level regulatory compliance for Everest pursuant to Section 27B of the Act.

During the three months ended September 30, 2026, the Company received its registration number from the BMA as a group supervised entity. The Company expects that it will be formally designated as an IAIG by the BMA and listed on a public register of IAIGs at a future date.

During The three months ended June 30, 2026, the BMA informed the Company of its formal determination that it is appropriate for the BMA to become Group Supervisor for the Company and specified that Bermuda Re would become the "designated insurer" responsible for group-level regulatory compliance for Everest pursuant to Section 27B of the Act. The Company and Bermuda Re are discussing with the BMA the requirements of group supervision during a twelve-month transition period that ends in January 2027. with the BMA authorized to grant extensions of up to an additional twelve months upon application. During this period, the Company is analyzing compliance requirements and potential focus areas and taking steps necessary to comply with the BMA's group supervision requirements, and to plan for compliance as an IAIG. Under the Act, after the transition period, the Company will be subject to group-level solvency and capital requirements, consolidated financial reporting and auditing obligations, recovery planning requirements and prior notification or approval requirements for certain material changes within the group. As Group Supervisor, the BMA will also chair a Supervisory College, coordinating with other regulators that supervise Everest's licensed entities in other jurisdictions. Everest's continuing assessment and compliance with the Act's requirements will require the Company to allocate considerable time and resources that could impact the operations of our insurance and/or non-insurance subsidiaries, result in increased costs and affect our financial condition. Group supervision by the BMA including designated insurer and designation of Bermuda Re, as an IAIG could affect our the Company's prescribed capital requirements, the terms and structure of our regulatory capital, intercompany capital transactions, borrowing requirements and terms, and ratings and may significantly increase our cost of regulatory compliance.

2 unchanged paragraphs

Unregistered sales of stock 9 changes

5 unchanged paragraphs

April 1 - 30, 2026 303,478 $ 339.0829 303,250 6,991,910

May 1 - 31, 2026 278,215 $ 352.1327 278,115 6,713,795

June 1 - 30, 2026 574,917 $ 337.7394 574,008 6,139,787

Total 1,156,610 $ — 1,155,373 6,139,787

July 1 - 31, 2026 410,327 $ 375.3304 410,127 5,729,660

August 1 - 31, 2026 425,630 $ 371.4889 425,021 5,304,639

September 1 - 30, 2026 433,469 $ 375.0547 433,010 4,871,629

Total 1,269,426 $ — 1,268,158 4,871,629

(1) On November 7, 2024, the Company's Board approved an amendment to the share repurchase program authorizing the Company and/or its subsidiary Holdings, to purchase up to an additional 10.0 million shares. Currently, an aggregate amount of 42.0 million of the Company's shares are authorized for repurchase (recognizing that the number of shares authorized for repurchase has been reduced by those shares that have already been purchased) in open market transactions, 10b5-1 share repurchase plans, privately negotiated transactions, or a combination thereof. As of June September 30, 2026, the Company and/or its subsidiary Holdings have repurchased an aggregate of 35.8 37.1 million of the Company's shares.

1 unchanged paragraph

Other information 2 changes

On August 4, 2026 , Laura Hay , a member of the Everest Group, Ltd. Board of Directors , entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934 (the "Hay Trading Plan"). Pursuant to the Hay Trading Plan, an aggregate amount of up to 720 common shares of Company stock may be sold by her broker. The Hay Trading Plan expires after the close of trading on August 31, 2028 .

Other than as disclosed above, none of our directors or officers (as defined in Exchange Act Rule 16a-1(f)) adopted , modified or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as those terms are defined in Regulation S-K, Item 408, during the fiscal quarter ended June September 30, 2026.