Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions, reported its second quarter 2025 results.
Second Quarter 2025 Highlights
- Net Income of $680 million; Net Operating Income of $734 million
- Total Shareholder Return of 14.8% annualized 1; Annualized 18.2% Net Income ROE and 19.6% Net Operating Income ROE
- $4.7 billion in gross written premium, a year-over-year decrease of 0.7% for the Group, an increase of 1.6% for Reinsurance, and a decrease of 3.3% for Insurance on a comparable basis; Growth in property and specialty lines across both segments was offset by reductions in certain casualty lines
- Combined ratios of 90.4% for the Group, 85.6% for Reinsurance and 102.0% for Insurance. Aviation losses associated with the Russia / Ukraine war contributed 2.5 points and 3.2 points to the Group and Reinsurance combined ratios, respectively.
- Attritional combined ratios of 88.6% for the Group, 84.1% for Reinsurance and 100.7% for Insurance
- Net favorable development of approximately $39 million in prior year loss reserves in Reinsurance, resulting in a 1.0 point decrease on the combined ratio for the Group.
- Pre-tax underwriting income (loss) of $385 million for the Group, $436 million for Reinsurance, ($18) million for Insurance, and ($33) million for Other
- $20 million of pre-tax catastrophe losses net of recoveries and reinstatement premiums for the Group versus $135 million in Q2 2024
- Net investment income increased to $532 million versus $528 million in the prior year quarter, reflecting strong alternative investment returns in both periods.
- Operating cashflow for the quarter of $1.1 billion versus $1.3 billion in Q2 2024