Everest Group Reports Q3 2026 Earnings: Net Income of $233M and $474M in Share Repurchases

Executive Summary

On October 28, 2026, Everest Group, Ltd. (NYSE: EG) filed an 8-K under Item 2.02 furnishing its third quarter 2026 financial results. The report reflects solid investment income and capital return execution balanced against casualty reserve strengthening.

Key Financial Highlights

• Earnings:

  • Net Income: $233 million, or $6.12 per diluted share (compared to $255 million, or $6.09 per diluted share in Q3 2025).
  • Net Operating Income: $290 million, or $7.62 per diluted share (compared to $316 million, or $7.54 per diluted share in Q3 2025).
  • Return on Equity (ROE): Annualized Net Income ROE of 6.0% and Net Operating Income ROE of 7.4%.

• Underwriting Performance & Reserves:

  • Gross Written Premium (Core): $3.7 billion, down 4.0% year-over-year (Reinsurance Treaty down 6.2%, Global Wholesale & Specialty up 3.2%).
  • Combined Ratio (Core Businesses): 105.8% (Reinsurance Treaty: 108.5%; Global Wholesale & Specialty: 97.3%).
  • Attritional Combined Ratio (Core Businesses): 87.0%.
  • Reserve Development: Net unfavorable prior-year reserve development of approximately $268 million, primarily driven by casualty reinsurance reserve strengthening, adding 8.5 points to the group combined ratio.
  • Pre-tax Underwriting Loss: $(223) million for the Group.

• Investments & Balance Sheet:

  • Net Investment Income: $634 million, up from $540 million in Q3 2025, supported by alternative investment returns.
  • Total Investments & Cash: $43.97 billion.
  • Book Value per Share: $381.04 ($414.00 excluding unrealized losses on fixed maturity securities), up from $379.83 at year-end 2025.

• Capital Return:

  • Share Repurchases: Repurchased 1,268,158 shares for $474 million during Q3 2026 ($1.20 billion year-to-date).
  • Dividends: Paid $2.00 per share ($75 million total) in the quarter.