Everest (US:EG)2025-10-28 12:00Financial Performance - The company's net operating income for the third quarter of 2025 was $316 million[77], and the year-to-date net operating income reached $1326 million[77] - The annualized Total Shareholder Return (TSR) for the third quarter of 2025 was 123%[35, 72] - Net investment income for the third quarter of 2025 was $540 million[33, 69], driven by higher assets under management and strong alternative investment returns[33, 69] Gross Written Premium (GWP) - The group's gross written premiums for the third quarter of 2025 were $4375 million[71, 80] - Reinsurance GWP decreased by 17% on a comparable basis to approximately $3203 million[41, 80] - Insurance GWP increased by 27% on a comparable basis to $1147 million[44, 80] Reserve Development - The company strengthened US casualty reserves, primarily in accident years 2022 to 2024[10] - The reinsurance segment experienced net favorable prior year development of $29 million[10, 41] - The insurance segment experienced adverse development of $361 million[10] - The "Other" segment experienced unfavorable development of $146 million, primarily driven by the sports and leisure business[9, 10] Strategic Actions - Everest purchased a $12 billion gross ($10 billion net) Adverse Development Cover (ADC) from Longtail Re[13] - Everest announced a renewal rights transaction for its Retail Commercial Insurance business, which represents approximately $2 billion of in-force gross premiums written as of October 25, 2025[17]