Everest Group, Ltd. is a Bermuda-based reinsurance and insurance organization and a member of the S&P 500 Index. The company operates through its Reinsurance and Insurance segments, underwriting reinsurance and insurance in the U.S., Bermuda, and other international markets. Everest serves a diverse group of clients worldwide, providing extensive product and distribution capabilities, a strong balance sheet, and access to world-class talent. The company's global network spans more than 100 countries across six continents.

In 2023, gross written premiums were $16.6 billion, with 68.9% from reinsurance and 31.1% from insurance. Everest underwrites reinsurance through brokers and directly with ceding companies, and insurance mainly through brokers and general agent relationships. The company's active operating subsidiaries are rated A+ by A.M. Best.

• Employees: 2,844 (as of February 1, 2024)
• Geographic Footprint: More than 100 countries across six continents
• Headquarters: Hamilton, Bermuda
• Founded: Not available
• Number of locations/facilities: 29 locations (plus headquarters)
• Revenue: $14.6 billion (FY2023)
• Market Capitalization: $14.8 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Bermuda Re, Everest International Reinsurance, Ltd., Ireland Re, Ireland Insurance

• CEO: Juan C. Andrade
• CFO: Mark Kociancic
• Senior Vice President and Chief Accounting Officer: Robert J. Freiling
• Board Chair: Joseph V. Taranto

Key leaders have extensive experience in the insurance and reinsurance industries.

• Annual Revenue: $14.6 billion (FY2023)
• Net Income: $2.5 billion (FY2023)
• Market Cap: $14.8 billion (as of June 30, 2023)
• Total Assets: $49.4 billion (as of December 31, 2023)
• Employees: 2,844 (as of February 1, 2024)
• Key Financial Highlights: Gross written premiums increased by 19.2% to $16.6 billion in 2023. Net income increased to $2.5 billion in 2023.

Everest provides a range of reinsurance and insurance products, including:

• Property: Protection for property damage and related losses, including business interruption.
• Catastrophe: Reinsurance for losses from natural perils like hurricanes, earthquakes, and floods.
• Casualty: Protection for losses covered in liability or casualty insurance policies.
• Marine: Protection for property damages, physical loss or liability affecting the marine business.
• Aviation: Protection cover for aircrafts, airline, aerospace, and other general aviation risks.
• Engineering: Protection for construction and machinery risks.
• Professional Lines: Protection for losses arising from employment, practices, and coverage of risks.
• Credit and Surety: Protection for losses arising from insurance products, offering payments in the event of default from a borrower.
• Motor: Protection to insurance companies offering motor liability and property damage.
• Agriculture/Crop: Protection for risks associated with agriculture and production of food.
• Political Violence: Protection against damages resulting from various perils, such as terrorism, sabotage, strikes, riots, insurrection, revolution, coup, and war.
• Accident and Health: Policies covering participant accident, short-term medical, and medical stop-loss protection.
• Specialty Casualty: Policies covering general liability, auto liability, and umbrella/excess liability.
• Other Specialty: Policies covering specialty areas including but not limited to surety, trade credit & political risk, transactional liability, energy & construction, and aviation.
• Professional Liability: Policies covering directors & officers liability, errors & omissions, cyber liability, and other ancillary financial lines products.
• Property/Short-Tail: Policies covering property, inland marine, and other short-tail lines.
• Workers' Compensation: Policies covering workers compensation, including both guaranteed cost and loss sensitive product offerings.

Everest operates through two main segments:

• Reinsurance: Writes worldwide property and casualty reinsurance and specialty lines of business, on both a treaty and facultative basis, through reinsurance brokers and directly with ceding companies. In 2023, this segment wrote $11.5 billion in gross written premiums.
• Insurance: Writes property and casualty insurance directly and through brokers, including for surplus lines, and general agents. In 2023, this segment wrote $5.2 billion in gross written premiums.

During the fourth quarter of 2023, the Company revised the classification and presentation of certain products related to its accident and health business within the segment groupings. These products have been realigned from within the Reinsurance segment to the Insurance segment to appropriately reflect how the business segments are now managed.

Everest's business strategy is to sustain its leadership position within targeted reinsurance and insurance markets and provide effective management throughout the property and casualty underwriting cycle. The company emphasizes disciplined underwriting, prioritizing profitability over premium volume, and flexibility to adjust to changing market conditions. Key elements include:

• Careful risk selection
• Appropriate pricing
• Diversified product and distribution offerings
• Efficient and low-cost operating structure
• Effective enterprise risk management practices

The company carefully monitors its mix of business across all operations to avoid unacceptable geographic or other risk concentrations. Everest also focuses on attracting, developing, and retaining top industry talent.

Everest operates in the highly competitive global reinsurance and insurance markets. The company differentiates itself through financial strength, a range of products, brand recognition, client relationships, distribution channels, claims management, and customer service. Competition is based on pricing, capacity, coverage terms, and other factors.

• Market Position: Everest is a leading financial services institution focused on diversifying its portfolio and geographic presence. According to S&P, Everest ranks among the top ten global property and casualty reinsurance groups.
• Key Competitors: The company competes with U.S., Bermuda, European, and other international reinsurers, as well as investment companies, mutual companies, and alternative risk providers.
• Industry Trends: The market is subject to pricing cycles and fluctuations in capacity. Demand is influenced by underwriting results of insurers and insureds, including catastrophe losses, and prevailing general economic conditions.

• Underwriting Risks: Exposure to catastrophic events, inaccurate assessment of underwriting risk, and inadequate premium rates.
• Financial Risks: Declines in financial strength ratings, increased borrowing costs, failure of insureds/reinsurers to satisfy obligations, declines in investment values, and foreign currency exchange losses.
• Operational Risks: Dependence on key personnel, cybersecurity risks, dependence on brokers and agents, and variations in analytical models.
• Regulatory Risks: Compliance with insurance laws and regulations, changes in tax laws, and potential anti-takeover effects.