EG
Everest Group, Ltd.327.35
-1.26-0.38%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms discipline; details expenses, buybacks
Q&A reinforced prepared remarks' reinsurance discipline amid January softening, but quantified 2026 group expense ratio at 6-7% trending to low-6s by 2027, with Global Wholesale & Specialty starting mid-teens and improving via scale. Property cat rates likely dip further yet beat 2022 adequacy; expect modest capacity pullback. Buybacks dominate capital use—$200M quarterly floor, acceleration eyed from retail runoff releases. No new ADCs, but runoff optimization ahead. Management candid on pressures. Buybacks rule capital allocation.
Key Stats
Market Cap
13.74BP/E (TTM)
24.34Basic EPS (TTM)
13.45Dividend Yield
0.02%Recent Filings
8-K
Sells Canada retail ops
Everest Group signed a deal on March 22, 2026, to sell its Canadian Retail Insurance operations, Everest Insurance Company of Canada, to Wawanesa Mutual for CAD 410 million, subject to adjustment. This sharpens focus on core Reinsurance and Global Wholesale businesses after prior retail exits. Closing eyed for H2 2026, pending antitrust and insurance approvals. Deal locks in value.
8-K
GC transition settled for $7.25M
Everest Group settled its General Counsel transition with former EVP Ricardo Anzaldua via a March 13, 2026 agreement, paying $7.25 million for accrued compensation, forfeited equity, and up to nine months of advisory services. It waived his non-compete post-advisory but extended his non-solicit by six months. Clean exit secured.
10-K
FY2025 results
Everest Group posted FY2025 gross written premiums of $17.7B, down 2.9% y/y, with reinsurance at $12.8B (-0.9%) offsetting insurance declines from portfolio actions and renewal rights sales to AIG totaling $301M. Net income hit $1.6B despite $657M unfavorable prior-year reserve development (down from $1.5B in 2024), driven by U.S. casualty strengthening; catastrophe losses eased to $726M from $755M. Q4 momentum showed premiums earned up 2.5% y/y to $15.6B, combined ratio improving 3.7 points to 98.6% on lower attritional development. Shareholders' equity swelled 11.4% to $15.5B, bolstered by $2.1B net investment income and $797M buybacks. Debt stood steady at $3.6B with FHLBNY availability; quarterly $2/share dividend continued. Catastrophic events exceeding projections threaten quarterly results.
8-K
Q4 profit swing, premiums down
Everest Group swung to Q4 2025 net income of $446 million from a $593 million loss, with net operating income at $549 million, while gross premiums fell 8.6% on a comparable basis amid portfolio reshaping. Reinsurance shone with 91.2% combined ratio; Insurance hit 117.0% after $105 million ADC payment. Repurchased $397 million in shares. Balance sheet strengthened to $15.5 billion equity.
8-K
CFO transition announced
Everest Group named Elias Habayeb as EVP and CFO effective May 1, 2026, prompting current CFO Mark Kociancic's retirement post-Q1 2026 reporting, with his role shifting to advisor until July 31, 2026. The transition agreement secures Kociancic $3.9M in 2025 incentives, $3.8M separation pay, and $1.65M plus $960K prorated bonus for 2026 services. Smooth handoff planned. Non-compete binds him through 2026.
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