Insurer Everest's Q3 net income drops on fall in premiums

Everest

27/10/2025 20:27

Overview

Everest Group Ltd Q3 net income falls to $255 mln, down from $509 mln last year

Gross written premium decreased 1.2% yr/yr, driven by casualty line reductions

Company sold renewal rights of retail commercial insurance to AIG, affecting $2 bln premiums

Outlook

Everest expects a pre-tax non-operating charge of $250 mln to $350 mln over 2025-2026

Company to sell retail commercial insurance renewal rights to AIG, releasing capital

Everest enters $1.2 bln adverse development cover to reduce future volatility

Result Drivers

RESERVE STRENGTHENING - Everest strengthened U.S. casualty reserves by $361 mln, impacting combined ratio

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
$255 mln
Q3 Operating Income
$316 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the reinsurance peer group is "buy."

Wall Street's median 12-month price target for Everest Group Ltd is $383.50, about 9% above its October 24 closing price of $348.94

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nBw6k3ht4a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)