Everest Q3 net income falls to $255 million from $509 million on reserve charges
Everest Group reported third quarter 2025 net income of $255 million, or $6.09 per diluted share, down from $509 million, or $11.80 per diluted share, a year earlier. The group combined ratio rose to 103.4% from 93.1%, driven by $478 million of unfavorable prior-year reserve development, including $361 million of U.S. casualty reserve strengthening in the Insurance segment. The company also entered an adverse development cover and agreed to sell its retail commercial insurance renewal rights to AIG, which it expects to result in a pre-tax non-operating charge of $250 million to $350 million.
Key points
- Net operating income was $316 million, or $7.54 per diluted share, versus $630 million, or $14.62 per diluted share, in Q3 2024.
- Group combined ratio was 103.4% versus 93.1%; Insurance segment combined ratio was 138.1%.
- Gross written premium was $4.4 billion, down 1.2% on a comparable basis from a year earlier.
- Expected pre-tax non-operating charge of $250 million to $350 million on the AIG renewal rights sale, recognized over 2025 and 2026.
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 27, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.