EG · Everest Re Group, Ltd.

Everest Group delivered strong Q1 2026 results with net income of $653 million and net operating income of $648 million, reflecting annualized ROEs of 16.8% and 16.7%. Key drivers included $316 million of pre-tax underwriting income and a group combined ratio of 91.2%, improved from 102.7% in Q1 2025, supported by net favorable prior year development of $33 million and sharply lower catastrophe losses of $130 million net versus $472 million prior year. The Reinsurance Treaty segment showed robust performance with a 87.2% combined ratio and $315 million underwriting income, benefiting from disciplined renewals and attritional improvements. Global Wholesale & Specialty reported a 96.8% combined ratio with $23 million underwriting income amid portfolio mix shifts. Net investment income rose to $567 million from alternative returns. Balance sheet remains solid with $45.0 billion invested assets. Capital returns accelerated with $331 million share repurchases reducing shares outstanding to 39.8 million, alongside $80 million dividends. Management highlighted strategy execution for return profile enhancement, reinsurance discipline, and specialty growth positioning for 2026 profitability amid lower cat losses from Iran War and mid-sized events versus prior California Wildfires.