Everest Fourth Quarter & Full 2025 Results
Everest Group, Ltd. reported its fourth quarter and full-year 2025 results.
A spokes person said, “Full-Year 2025 Highlights
- Total Shareholder Return of 13.1%1; 10.5% Net Income ROE and 12.4% Operating Income ROE
- $17.7 billion in gross written premium, a year-over-year decrease of 3.1% for the Group, 1.2% for Reinsurance, and 5.7% for Insurance on a comparable basis
- Combined ratios of 98.6% for the Group, 91.7% for Reinsurance, and 114.6% for Insurance
- Attritional combined ratios of 89.6% for the Group, 85.5% for Reinsurance, and 100.7% for Insurance
- $757 million of pre-tax catastrophe losses net of recoveries and reinstatement premiums versus $810 million in 2024
- Net investment income increased $170 million to $2.1 billion, a company record
- Strong operating cashflow for the year of $3.1 billion, which includes the consideration paid for the adverse development cover
- Repurchased $797 million of common shares in 2025
“Fourth Quarter 2025 Highlights
- Net income of $446 million; Net operating income of $549 million
- $4.3 billion in gross written premium, a year-over-year decrease of 8.6% for the Group, 3.6% for Reinsurance, and 20.1% for Insurance on a comparable basis; Strong double-digit growth in specialty lines was more than offset by targeted reductions in certain casualty lines
- Combined ratios of 98.4% for the Group, 91.2% for Reinsurance and 117.0% for Insurance
- Attritional combined ratios of 89.9% for the Group, 84.6% for Reinsurance, and 104.1% for Insurance
- $216 million of pre-tax catastrophe losses net of recoveries and reinstatement premiums versus $312 million in Q4 2024
- Pre-tax underwriting income [loss] of $60 million for the Group, $255 million for Reinsurance, [$161] million for Insurance, and [$34] million for Other
- Net investment income improved to $562 million versus $473 million in the prior year fourth quarter, driven by a larger asset base as well as strong core fixed income and alternative investment returns
- Operating cashflow for the quarter of [$398] million versus $780 million in the prior year fourth quarter impacted by the consideration paid for the adverse development cover in the quarter.
Everest President and CEO, Jim Williamson said, “In 2025 we took deliberate actions to simplify the business, improve the return profile, and strengthen the Company’s balance sheet, These actions have increased our financial flexibility and support our intention to return capital to shareholders, as reflected in the share repurchases executed during the quarter.
“Our sharpened underwriting focus positions Everest to deliver attractive margins. The Reinsurance team continued to execute with the discipline expected of a top-tier global reinsurer, delivering a well-executed January 1 renewal, appropriately navigating the market cycle. In our Insurance business, focused on Global Wholesale and Specialty, we’re targeting lines where Everest has expertise and competitive advantage.
“We continued to attract world-class senior leadership talent who share our culture of ownership and accountability and are committed to driving consistent and sustained shareholder returns.”
