Everest said incurred losses and loss adjustment expenses for Q3 2025 increased 9.8% to $2.8 billion, primarily due to an increase in unfavorable development on prior year attritional losses of $537 million, with strengthening of U.S. casualty reserves cited as the main factor.

1. 01

   Everest said incurred losses and loss adjustment expenses for Q3 2025 increased 9.8% to $2.8 billion, primarily due to an increase in unfavorable development on prior year attritional losses of $537 million, with strengthening of U.S. casualty reserves cited as the main factor.

2. 02

   The company said net cash flows from operating activities for the 9 months ended September 30, 2025 were $3.5 billion, compared with $4.2 billion for the corresponding prior year period, with these cash flows reflecting net catastrophe loss payments of $654 million and net tax payments of $98 million.

3. 03

   Everest said on October 26, 2025 it entered into an agreement with American International Group, Inc. to sell renewal rights for certain lines of commercial property and casualty insurance business written in the U.S., U.K. and Asia Pacific for an aggregate purchase price of $252 million, with the transaction closing on the same day. The company also said a separate agreement to sell renewal rights for certain lines of commercial property and casualty insurance business in certain European Union countries carries an aggregate purchase price of $49 million and is subject to certain regulatory approvals.

4. 04

   Everest said on October 26, 2025 it entered into adverse development cover reinsurance agreements covering North American Insurance and Other segment liabilities. The company said the aggregate statutory reserves held for the subject business as of September 30, 2025 were $5.4 billion, and the agreements are effective October 1, 2025.

Key figures

Quarter ended September 30, 2025

Revenue

$4.3B

Net income

$255M

EPS

$6.09

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.