Everest Group (EG) 10-K risk factor changes: FY2025 vs FY2024

In connection with any investment decision with respect to our securities, you should carefully consider the following risk factors, as well as the other information contained in this report and our other [removed: filings with the SEC.][added: SEC filings.]

We are exposed to unpredictable catastrophic events, including, but not limited to, weather-related and other natural catastrophes, as well as acts of [removed: terrorism] [added: terrorism, wars, pandemics, political instability] and [removed: wars.][added: significant cyber or operational incidents.]

The frequency and/or severity of [added: some] catastrophic events may be impacted in the future by the continued effects of climate change.

Climate change and resulting changes in global temperatures, weather [removed: patterns,] [added: patterns] and sea levels may both increase the frequency and severity of natural catastrophes and the resulting losses in the future and impact our risk modeling assumptions.

We cannot predict the impact that changing climate conditions, if any, may have on our [removed: results of] [added: results,] operations or our financial condition.

| 2024 | | | [removed: $ |] 755 | | [added: |]

These loss projections are [removed: approximations,] [added: estimates,] reliant on a mix of quantitative and qualitative processes, and actual losses may exceed the projections by a material amount.

These reserves are only estimates of what we believe the ultimate settlement and administration of claims will cost based on facts and circumstances known to us and [added: incorporates] actuarial and statistical analysis.

[removed: Because of the uncertainties that] surround our estimates of loss and LAE reserves, we cannot be certain that ultimate losses and LAE payments will not exceed the estimates we make at any given time.

For example, [removed: in] [added: for] the [removed: quarter ended] [added: year ended,] December 31, [removed: 2024,] [added: 2025,] the Company increased its loss reserves by [removed: $1.7 billion, pre-tax,] [added: $657 million, pre-tax and net of reinsurance,] primarily driven by [added: net] unfavorable development [added: on prior year reserves from elevated loss experience] in [removed: U.S.] [added: excess] casualty [removed: insurance] [added: and U.S. liability] lines [removed: of business.][added: primarily on accident years 2022-2024.]

During the past five calendar years, the reserve [removed: refinement] process resulted in a decrease to our pre-tax net income in [removed: 2024] [added: 2025] and [removed: 2020] [added: 2024] and resulted in an increase to our pre-tax net income in 2023, 2022 and 2021:

| 2024 | | | [removed: $ |] 1,337 | | [added: |] decrease | | |

The difficulty in estimating our reserves is significantly more challenging as it relates to reserving for potential [removed: A&E] [added: asbestos and environmental (“A&E”)] liabilities.

As of December 31, [removed: 2024, 0.9%] [added: 2025, 0.6%] of our gross reserves were comprised of A&E reserves.

[removed: In addition, losses] [added: Losses] may arise from events or exposures that are not anticipated when the coverage is priced.

| | | | [added: 2025 | | |] 2024 | | | 2023 | | | 2022 | | | 2021 | | | [removed: 2020 | | |]

| Percentage of ceded written premiums to gross written premiums | | | [removed: 13.3] [added: 12.4] | | % | [removed: 11.5] [added: 13.3] | | % | 11.5 | | % | [removed: 12.3] [added: 11.5] | | % | [removed: 13.0] [added: 12.3] | | % |

- social inflation trends, including higher and more frequent claims, higher awards in favor of plaintiffs and increases in the value of claims due to [removed: third party] [added: third-party litigation] funding;

[added: A] downgrade or withdrawal of any of these ratings could adversely affect our ability to market our reinsurance and insurance products, our ability to compete with other reinsurers and insurers and our ability to write new business, which in turn could impact our profitability and results.

The termination provision would generally be triggered if a [added: financial strength] rating fell below A.M. Best’s [added: or S&P] A- rating level.

Those provisions would also generally be triggered if Everest Re’s rating fell below A.M. Best’s [added: or S&P] A- rating level.

The failure of one or more of our [removed: reinsurers] [added: reinsurers, including but not limited] to [added: the counterparties to the adverse development cover reinsurance agreements, to] honor their obligations to us in a timely fashion would impact our cash flow and reduce our net income and could cause us to incur a significant loss.

[removed: *Our investment values and] [added: *The value of our overall] investment income could decline due to changed conditions in the financial [removed: markets.*][added: markets and prevailing general economic conditions.*]

A significant portion of our investment portfolio consists of fixed income securities and smaller portions consist of equity securities and other [added: investments, such as limited partnerships and other alternative] investments.

The fair value of our invested assets and associated investment income may fluctuate depending on various factors [removed: including] [added: including, but not limited to] the effects of economic events and [removed: conditions,] [added: conditions;] governmental [removed: policies,] [added: policies;] changes in interest [removed: rates] [added: rates, currency exchange rates, inflation] and credit [removed: spreads] [added: spreads; credit ratings; loss frequency] and [added: severity; and] market volatility.

[removed: Additionally, net] investment income from fixed income investments that carry prepayment risk, such as mortgage-backed and other asset-backed securities, can differ from the income anticipated from those securities at the time of purchase.

Our investment portfolio is subject to the risk of loss due to default or deterioration in [added: the] credit [removed: quality.][added: quality, financial condition or future recovery prospects of the underlying issuers of our fixed income securities.]

As a part of our ongoing analysis of our investment portfolio, we are required to assess [added: and estimate] current expected credit losses for all held-to-maturity securities and evaluate expected credit losses for available-for-sale securities when fair value is below amortized cost, which considers reasonable and supportable forecasts of future economic conditions [added: and estimated future cash flows] in addition to information about past events and current conditions.

If [added: the] issuers [added: or other obligors] of individual investments are unable to meet their obligations, investment income will be reduced and realized capital losses may arise.

We have exposure to counterparties through a variety of commercial transactions and arrangements, including reinsurance transactions and agreements with banks, hedge [added: funds, private] funds and other investment vehicles that expose us to credit risk in the event [removed: our] [added: a] counterparty [added: or an underlying issuer or borrower] fails to perform its obligations.

Our future capital requirements depend on many factors, including rating agency and [added: new] regulatory requirements, the performance of our investment portfolio, our ability to write [removed: new] business successfully, the frequency and severity of catastrophe events and our ability to establish premium rates and loss reserves at levels sufficient to cover losses.

[removed: Payment of dividends and advances and repayments from] some of the operating subsidiaries are regulated by U.S. states and foreign insurance laws and regulatory restrictions, including minimum solvency and liquidity thresholds.

[added: In 2025, we wrote approximately 31.7% of our coverages in non-U.S.] currencies; as of December 31, [removed: 2024,] [added: 2025,] we maintained approximately [removed: 22.7%] [added: 26.9%] of our investment portfolio in investments denominated in non-U.S. currencies.

The loss of the services of any key executive officer, the failure to successfully effectuate a permanent leadership transition or the inability to hire and retain other highly qualified personnel in the [removed: future, particularly those experienced in the property and casualty industry,] [added: future] could adversely affect our ability to conduct business.

Currently, all [added: of] our Bermuda-based professional employees who require work permits have been granted permits by the Bermuda government that expire at various times between [removed: March 2025] [added: June 2027] and March 2030.

[removed: We cannot provide total assurance that these processes will] [added: Our processes, people and systems may not] effectively identify or control all risks, [removed: or that] [added: and] our employees and third-party agents [removed: will] [added: may not] effectively execute them.

Losses may result from, among other things, actual or alleged fraud; errors; [added: employee misconduct] or failure to document transactions properly, obtain proper internal authorization, comply with underwriting or other internal guidelines or comply with regulatory requirements.

[removed: We] [added: While we] are not aware of a cybersecurity incident that materially affected the Company, including its business strategy, results of operations or financial [removed: condition.][added: condition, a future cybersecurity incident could have a material impact on us.]

Exposure to cybersecurity risk is increasing systematically due to greater digital [removed: dependence] [added: dependence, emerging technologies such as AI] and increased possible losses due to a catastrophic cybersecurity event.

Any losses incurred from these risks are also dependent on our clients’ and our third-party service providers' cybersecurity practices and defenses, as well as how [removed: policy] [added: contract] terms and conditions interact with the evolving threat [removed: landscape.][added: landscape which is out of our control.]

Secondary perils, such as severe convective storms, may also become increasingly impactful.

| 2025 | | | $ | 726 | |

Because of the uncertainties that

| 2025 | | | $ | 657 | | decrease | | |

We purchase prospective reinsurance for our insurance and reinsurance operations in order to mitigate the volatility of losses on our financial results.

From time to time, market conditions have limited, and in some cases have prevented, insurers and reinsurers from obtaining the types and amounts of reinsurance that they consider adequate for their business needs.

There is no guarantee that our desired amounts of reinsurance or retrocessional reinsurance will be available in the marketplace in the future.

In the current environment, our ability to renew our current reinsurance or retrocessional reinsurance arrangements or obtain desired amounts of new or replacement coverage on favorable terms may be substantially reduced as a result of the impact of inflation, industry catastrophic losses to reinsurer capital and the appetite for certain lines of business.

In addition to capacity risk, the remaining capacity may not be on terms we deem appropriate or acceptable or with companies with whom we want to do business.

If we are unable to or choose not to renew our current reinsurance or retrocessional reinsurance or purchase new or replacement coverage on favorable terms or at all, the amount of business we are willing to write may be limited or our protection from losses due to large loss events may be materially reduced and our net income could be materially reduced.

In future years, insufficient premium rates may result in reserve deficiencies to the extent that higher than expected losses are incurred.

Moreover, certain states have enacted laws that require a property and casualty insurer to participate in assigned risk plans, reinsurance facilities, joint underwriting associations and other residual market plans.

U.S. state regulators also require that admitted insurers offer property and casualty coverage to all risks in that market and often restrict an insurer’s ability to charge the price it might otherwise charge or restrict an insurer’s ability to offer or enforce specific policy deductibles.

In these markets, we may be compelled to underwrite business at lower than desired rates or accept additional risk not contemplated in our existing rates, participate in the operating losses of residual market plans or pay assessments to fund operating deficits of state-sponsored funds, which could lead to lower than anticipated profitability.

As noted above, each of A.M. Best, S&P and Moody’s has assigned a negative outlook to our financial strength ratings.

In addition, rapid or unprecedented changes in credit and equity market conditions could materially impact the valuation of securities.

The volatility of our losses may force us to liquidate securities, which may cause us to incur capital losses.

Realized and unrealized losses in our investment portfolio and changes in our estimates of current expected credit loss allowance can affect our financial condition, results of operations or liquidity and our ability to conduct business.

Additionally, net

Payment of dividends and advances and repayments from

Higher inflation could lead to higher interest rates, which would negatively impact the value of our existing fixed income or other investments.

*Global economic conditions could adversely affect our business, results of operations or financial condition.*

The global economic environment continues to be impacted by fiscal or monetary policies; uncertainty concerning the future path of interest rates; the effect of social, economic and political conditions and geopolitical events, supply chain disruptions; the implementation of tariffs and other protectionist trade policies; and the possibility of a recession, government shutdowns, debt ceilings and funding.

Ongoing global economic uncertainties and evolving market conditions may affect our results of operations, financial condition and capital resources.

In 2025, the Company had various promotions and new executive leadership appointments.

Additionally, the emergence of new technologies, including artificial intelligence (“AI”), requiring in new skill sets and changes in local employment legislation, taxation and the approach of regulatory bodies to compensation practices within our operating jurisdictions may result in difficulty in attracting, developing and retaining key personnel.

AI technologies are quickly evolving and being adopted, which may also increase or intensify potential cybersecurity risks.

We may be unable to anticipate cybersecurity threats, react in a timely manner and may be required to devote substantial additional resources to modify or enhance our information security systems, networks and cybersecurity program and to defray the costs of complying with new or developing regulatory requirements.

Cybersecurity incidents are not bound by time or geographic limitations.

Related perils do not have well-established definitions and fundamental physical properties and may be engineered specifically to evade established loss mitigation controls.

Some of our service providers may store or have access to our data and may not have effective controls, processes or practices to protect our information.

A vulnerability in our service providers’ software or systems or failure of safeguards, policies or procedures, could result in a cyberattack or other incident which could harm our business.

See Item 1C, “Cybersecurity” for additional information.

Deterioration in relationships with our broker and agent distribution network or their increased promotion and distribution of our competitors’ products could adversely affect our ability to sell our products.

Loss of all or a substantial portion of the business provided by one or more of these brokers or agents could have an adverse effect on our business.

*Analytical models used in decision making and estimates, assumptions and valuations in these models could vary materially from actual results, which could have an adverse impact on the financial condition, results of operations and cash flows of the Company.*

These models incorporate numerous assumptions and forecasts about the future level of financial metrics, including interest rates, inflation, credit spreads and equity markets.

Recent technological advancements in the insurance industry and information technology industry including in underwriting, claims, distribution and operations present new and fast-evolving competitive risks as participants seek to increase the speed of transactions, lower costs and create new opportunities.

We will be at a competitive disadvantage if, over time, our competitors are more effective than us in their utilization of technology and evolving data analytics.

If we do not anticipate or keep pace with these technological and other changes impacting the insurance industry, it could adversely affect our business results of operations and financial condition.

| 2020 | | | 425 | | |

| 2020 | | | 401 | | | decrease | | |

We are generally less reliant on the purchase of reinsurance than many of our competitors, in part because of our strategic emphasis on underwriting discipline and management of the cycles inherent in our business.

We try to separate our risk-taking process from our risk mitigation process to avoid developing too great a reliance on reinsurance.

With the expansion of the capital markets into insurance linked financial instruments, we increased our use of capital market products for catastrophe reinsurance.

In addition, we have increased some of our quota share contracts with larger retrocessionaires.

In 2024, we wrote approximately 29.1% of our coverages in non-U.S.

In January 2025, James Williamson, Executive Vice President and Chief Operating Officer, was appointed President and CEO and member of the Board of Directors after the departure of our former President and CEO, Juan Andrade.

A work permit is only granted or extended if the employer can show that, after a proper public advertisement, no Bermudian, spouse of a Bermudian or individual holding a permanent or working resident certificate is available who meets the minimum standards reasonably required for the position.

The Bermuda government places a six-year term limit on individuals with work permits, subject to specified exemptions for persons deemed to be key employees of businesses with a significant physical presence in Bermuda.

We rely on our processes, people and systems to maintain and execute our operations.

It is not always possible to deter or prevent employee misconduct, and the precautions that we take to prevent and detect this activity may not be effective in all cases.

The cybersecurity regulatory environment is evolving, in particular with respect to emerging technologies, such as artificial intelligence, and it is likely that the costs of complying with new or developing regulatory requirements will increase.

Cyber catastrophes are not bound by time or geographic limitations and cyber catastrophic perils do not have well-established definitions and fundamental physical properties.

Rather, cybersecurity risks are engineered by human actors and thus are continuously evolving, often in ways that are engineered specifically to evade established loss mitigation controls.

*Analytical models used in decision making could vary materially from actual results.*

In addition to existing competitors, the entry of alternative capital

If Bermuda Re is unable to obtain

The IDSML has now been adopted in 23 states.

only for a grace period of two years through 2026.

[removed: The] [added: As of December 31, 2025, the] Company [removed: will continue to have] [added: has] two reportable segments [removed: that actively sell products, Reinsurance and Insurance,] consistent with how the [removed: on-going] business is managed.

See Note [removed: 6] [added: 7] of the Notes to the Consolidated Financial Statements for a summary of segment results.

Our [removed: current year] net income of $1.4 billion [added: for the year ended December 31, 2024] is inclusive of unfavorable development of prior-year loss reserves of $1.5 billion.

[removed: Following a comprehensive reserve review, we] [added: We] have significantly fortified our U.S. casualty reserves, while taking aggressive underwriting action in certain classes exposed to social inflation, bolstering talent and investing in our platform as we head into [removed: 2025.][added: 2026.]

The following is a discussion and analysis of our results of operations, financial condition and liquidity and capital resources for the years ended December 31, [removed: 2024] [added: 2025] and [removed: 2023.][added: 2024.]

[removed: Pursuant to the Fixing America’s Surface Transportation Act Modernization and Simplification of Regulation S-K, comparisons] [added: Comparisons] between [removed: 2023] [added: 2024] and [removed: 2022] [added: 2023] have been omitted from this Form 10-K but can be found in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of our Form 10-K for the year ended December 31, [removed: 2023.][added: 2024.]

| (Dollars in millions) | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | | | | | [removed: 2024/2023] [added: 2025/2024] | | | | | | [removed: 2023/2022] [added: 2024/2023] | | |

| Gross written premiums | | | $ | [removed: 18,232] [added: 17,706] | | | | | $ | [removed: 16,637] [added: 18,232] | | | | | $ | [removed: 13,952] [added: 16,637] | | | | | [removed: 9.6] [added: (2.9)] | | % | | | | [removed: 19.2] [added: 9.6] | | % |

| Net written premiums | | | [removed: 15,814] [added: 15,513] | | | | | | [removed: 14,730] [added: 15,814] | | | | | | [removed: 12,344] [added: 14,730] | | | | | | [removed: 7.4] [added: (1.9)] | | % | | | | [removed: 19.3] [added: 7.4] | | % |

| Premiums earned | | | $ | [removed: 15,187] [added: 15,560] | | | | | $ | [removed: 13,443] [added: 15,187] | | | | | $ | [removed: 11,787] [added: 13,443] | | | | | [removed: 13.0] [added: 2.5] | | % | | | | [removed: 14.0] [added: 13.0] | | % |

| Net investment income | | | [removed: 1,954] [added: 2,124] | | | | | | [removed: 1,434] [added: 1,954] | | | | | | [removed: 830] [added: 1,434] | | | | | | [removed: 36.3] [added: 8.7] | | % | | | | [removed: 72.7] [added: 36.3] | | % |

| Net gains (losses) on investments | | | [removed: 19] [added: (143)] | | | | | | [removed: (276)] [added: 19] | | | | | | [removed: (455)] [added: (276)] | | | | | | NM | | | | | | [removed: (39.3)] [added: NM] | | [removed: %] |

| Other income (expense) | | | [removed: 121] [added: (45)] | | | | | | [removed: (14)] [added: 121] | | | | | | [removed: (102)] [added: (14)] | | | | | | NM | | | | | | [removed: (86.3)] [added: NM] | | [removed: %] |

| Total revenues | | | [removed: 17,281] [added: 17,496] | | | | | | [removed: 14,587] [added: 17,281] | | | | | | [removed: 12,060] [added: 14,587] | | | | | | [removed: 18.5] [added: 1.2] | | % | | | | [removed: 20.9] [added: 18.5] | | % |

| Incurred losses and loss adjustment expenses | | | [removed: 11,305] [added: 10,859] | | | | | | [removed: 8,427] [added: 11,305] | | | | | | [removed: 8,100] [added: 8,427] | | | | | | [removed: 34.1] [added: (3.9)] | | % | | | | [removed: 4.0] [added: 34.1] | | % |

| Commission, brokerage, taxes and fees | | | [removed: 3,300] [added: 3,461] | | | | | | [removed: 2,952] [added: 3,300] | | | | | | [removed: 2,528] [added: 2,952] | | | | | | [removed: 11.8] [added: 4.9] | | % | | | | [removed: 16.7] [added: 11.8] | | % |

| Other underwriting expenses | | | [removed: 938] [added: 1,029] | | | | | | [removed: 846] [added: 938] | | | | | | [removed: 682] [added: 846] | | | | | | [removed: 10.9] [added: 9.7] | | % | | | | [removed: 24.1] [added: 10.9] | | % |

| Corporate expenses | | | [removed: 95] [added: 109] | | | | | | [removed: 73] [added: 95] | | | | | | [removed: 61] [added: 73] | | | | | | [removed: 30.5] [added: 14.6] | | % | | | | [removed: 19.9] [added: 30.5] | | % |

| Interest, fees and bond issue cost amortization expense | | | [removed: 149] [added: 151] | | | | | | [removed: 134] [added: 149] | | | | | | [removed: 101] [added: 134] | | | | | | [removed: 11.1] [added: 0.9] | | % | | | | [removed: 33.2] [added: 11.1] | | % |

| Total claims and expenses | | | [removed: 15,787] [added: 15,609] | | | | | | [removed: 12,432] [added: 15,787] | | | | | | [removed: 11,472] [added: 12,432] | | | | | | [removed: 27.0] [added: (1.1)] | | % | | | | [removed: 8.4] [added: 27.0] | | % |

| INCOME (LOSS) BEFORE TAXES | | | [removed: 1,493] [added: 1,887] | | | | | | [removed: 2,154] [added: 1,493] | | | | | | [removed: 588] [added: 2,154] | | | | | | [removed: (30.7)] [added: 26.4] | | % | | | | [removed: NM] [added: (30.7)] | | [added: %] |

| Income tax expense (benefit) | | | [removed: 120] [added: 296] | | | | | | [removed: (363)] [added: 120] | | | | | | [removed: (9)] [added: (363)] | | | | | | NM | | | | | | NM | | |

| NET INCOME (LOSS) | | | $ | [removed: 1,373] [added: 1,591] | | | | | $ | [removed: 2,517] [added: 1,373] | | | | | $ | [removed: 597] [added: 2,517] | | | | | [removed: (45.4)] [added: 15.9] | | % | | | | [removed: NM] [added: (45.4)] | | [added: %] |

| Loss ratio | | | [removed: 74.4] [added: 69.8] | | % | | | | [removed: 62.7] [added: 74.4] | | % | | | | [removed: 68.7] [added: 62.7] | | % | | | | [removed: 11.7] [added: (4.6)] | | | | | | [removed: (6.0)] [added: 11.7] | | |

| Commission and brokerage ratio | | | [removed: 21.7] [added: 22.2] | | % | | | | [removed: 22.0] [added: 21.7] | | % | | | | [removed: 21.4] [added: 22.0] | | % | | | | [removed: (0.3)] [added: 0.5] | | | | | | [removed: 0.6] [added: (0.3)] | | |

| Other underwriting expense ratio | | | [removed: 6.2] [added: 6.6] | | % | | | | [removed: 6.3] [added: 6.2] | | % | | | | [removed: 5.8] [added: 6.3] | | % | | | | [removed: (0.1)] [added: 0.4] | | | | | | [removed: 0.5] [added: (0.1)] | | |

| Combined ratio | | | [removed: 102.3] [added: 98.6] | | % | | | | [removed: 90.9] [added: 102.3] | | % | | | | [removed: 96.0] [added: 90.9] | | % | | | | [removed: 11.4] [added: (3.7)] | | | | | | [removed: (5.1)] [added: 11.4] | | |

| (Dollars in millions, except per share amounts) | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | | | | | [removed: 2024/2023] [added: 2025/2024] | | | | | | [removed: 2023/2022] [added: 2024/2023] | | |

| Total investments and cash | | | $ | [removed: 41,531] [added: 45,429] | | | | | $ | [removed: 37,142] [added: 41,531] | | | | | $ | [removed: 29,872] [added: 37,142] | | | | | [removed: 11.8] [added: 9.4] | | % | | | | [removed: 24.3] [added: 11.8] | | % |

| Total assets | | | [removed: 56,341] [added: 62,514] | | | | | | [removed: 49,399] [added: 56,341] | | | | | | [removed: 39,966] [added: 49,399] | | | | | | [removed: 14.1] [added: 11.0] | | % | | | | [removed: 23.6] [added: 14.1] | | % |

| Loss and loss adjustment expense reserves | | | [removed: 29,889] [added: 34,312] | | | | | | [removed: 24,604] [added: 29,889] | | | | | | [removed: 22,065] [added: 24,604] | | | | | | [removed: 21.5] [added: 14.8] | | % | | | | [removed: 11.5] [added: 21.5] | | % |

| Total debt | | | [removed: 3,587] [added: 3,589] | | | | | | [removed: 3,385] [added: 3,587] | | | | | | [removed: 3,084] [added: 3,385] | | | | | | [removed: 6.0] [added: —] | | % | | | | [removed: 9.8] [added: 6.0] | | % |

| Total liabilities | | | [removed: 42,466] [added: 47,054] | | | | | | [removed: 36,197] [added: 42,466] | | | | | | [removed: 31,525] [added: 36,197] | | | | | | [removed: 17.3] [added: 10.8] | | % | | | | [removed: 14.8] [added: 17.3] | | % |

| Shareholders' equity | | | [removed: 13,875] [added: 15,461] | | | | | | [removed: 13,202] [added: 13,875] | | | | | | [removed: 8,441] [added: 13,202] | | | | | | [removed: 5.1] [added: 11.4] | | % | | | | [removed: 56.4] [added: 5.1] | | % |

| Book value per share | | | [removed: 322.97] [added: 379.83] | | | | | | [removed: 304.29] [added: 322.97] | | | | | | [removed: 215.54] [added: 304.29] | | | | | | [removed: 6.1] [added: 17.6] | | % | | | | [removed: 41.2] [added: 6.1] | | % |

The [removed: increase] [added: decrease] in reinsurance premiums [removed: reflects growth across multiple lines of business, particularly property and] [added: was primarily due to North America] casualty pro rata [removed: business] and [removed: property catastrophe] [added: casualty] excess of loss [added: lines of business, partially offset by an increase in the property and financial lines of] business.

[added: The decrease in insurance] premiums reflects [removed: growth] [added: portfolio actions taken] in [removed: property/short tail] [added: casualty lines of] business [removed: and other specialty business,] partially offset by [removed: portfolio actions taken on] [added: growth in] accident and [removed: health, workers’ compensation] [added: health] and [added: other] specialty [removed: casualty lines of business.][added: lines.]

The change in premiums earned relative to net written premiums [removed: was primarily] [added: is] the result of timing; premiums are earned ratably over the coverage [removed: period] [added: period,] whereas written premiums are generally recorded at the initiation of the coverage period.

We recorded other [removed: income] [added: expense] of [removed: $121] [added: $45] million and other [removed: expense] [added: income] of [removed: $14] [added: $121] million in [removed: 2024] [added: 2025] and [removed: 2023,] [added: 2024,] respectively.

The change was primarily the result of fluctuations in foreign currency exchange rates, [added: in particular, the movement in the Euro and British Pound Sterling, partially offset by the] gain from the sale of the [removed: sports and leisure business and gain from pension plan curtailment.][added: renewal rights.]

Our net income of $1.6 billion for the year ended December 31, 2025 is inclusive of unfavorable development of prior-year loss reserves of $657 million.

In addition, we have entered into an adverse development reinsurance agreement reinsuring potential adverse loss development for accident years 2024 and prior arising out of North American liabilities within our Insurance and Other Segments and sold the renewal rights to certain lines of commercial retail insurance business.

Recent Developments.

*Adverse Development Cover Reinsurance Agreements*

Effective October 1, 2025, the Company, through its subsidiaries Everest Re and Bermuda Re (the “Ceding Companies”), entered into adverse development reinsurance agreements with State National Insurance Company, Inc. and MS Transverse Insurance Company (collectively the “Reinsurers”).

The Reinsurance Agreements are supported on a retrocessional basis by Longtail Re, an affiliate of Stone Ridge Capital.

The agreements reinsure potential adverse loss development for accident years 2024 and prior arising from substantially all of the Ceding Companies’ North American liabilities within the Insurance and Other segments (“Subject Business”) up to a gross limit of $1.2 billion.

Certain liabilities are excluded from the subject business, including among others those related to the Asbestos and Environmental (“A&E”) reserves included in the Other segment.

The carried reserves held for the Subject Business were $5.4 billion as of September 30, 2025 and $5.0 billion as of December 31, 2025, respectively.

The adverse development cover (“ADC”) is composed of three layers.

The first layer is an “in the money” layer whereby the ADC attachment point was $1,250 billion below the Company’s North American Insurance and Other segment liability subject reserves of $5.4 billion held as of September 30, 2025.

The second layer is $700 million in excess of the $5.4 billion.

The Company transferred $1,250 million of in-the-money reserves in consideration for the first two layers upon closing of the transaction.

The third layer is $500 million, for which the Company paid approximately $122 million of consideration upon closing of the transaction.

The Company has a co-participation of $100 million in each of the second and third layers.

For more details, see Form 8-K filed with the SEC on October 27, 2025 and the adverse development reinsurance agreements attached thereto and incorporated by reference in Exhibits 10.59 and 10.60.

At December 31, 2025, the total covered losses ceded to State National Reinsurer were $1,253 million.

The aggregated unexpired limit was $597 million for State National Reinsurer and $400 million for MS Transverse Reinsurer, respectively.

*Sale of Certain Commercial Retail Insurance Renewal Rights*

On October 26, 2025, the Company entered into an agreement with American International Group, Inc. (“AIG”) to sell the renewal rights for certain lines of commercial retail insurance business written by the Company in the U.S., U.K. and Asia Pacific, for an aggregate purchase price of $252 million.

AIG paid the Company $30 million for originating and structuring the transaction.

In addition, on October 26, 2025, the Company entered into an agreement with AIG to sell the renewal rights for certain lines of commercial retail insurance business written by the Company in certain countries in the European Union, for an aggregate purchase price of $49 million.

Under the agreements, AIG agreed to pay the Company a total of $10 million per month for nine months starting January 1, 2026 for specified transition services.

For more details, see Form 8-K filed with the SEC on October 28, 2025 and the Master Transaction Agreements incorporated by reference in Exhibit 10.59.

These transactions sharpen the Company’s focus on its core global reinsurance business as well as its global wholesale and specialty insurance businesses.

The renewal rights of these businesses total an estimated $2 billion of aggregate gross premiums written.

Gross written premiums decreased by 2.9% to $17.7 billion in 2025, compared to $18.2 billion in 2024, reflecting a $288 million, or 5.7% decrease in our insurance business, a $122 million, or 57.3% decrease in business within the Other segment and a $116 million, or 0.9% decrease in our reinsurance business.

Gross written premiums within Other decreased by $122 million as this segment generally represents lines of business that have been discontinued.

Net written premiums decreased by 1.9% to $15.5 billion in 2025, compared to $15.8 billion in 2024, primarily driven by overall mix of business.

Premiums earned increased by 2.5% to $15.6 billion in 2025, compared to $15.2 billion in 2024.

The following table shows the components of other income (expense) for the periods indicated:

| | | | Years ended December 31, | | | | | | | | |

| Mt. Logan cell income | | | $ | 7 | | | | | $ | 8 | |

| Foreign currency exchange income (expense) | | | (210) | | | | | | 58 | | |

| Gain on pension plan settlement | | | 27 | | | | | | 10 | | |

| Gain (loss) from sale of renewal rights | | | 127 | | | | | | — | | |

| Gain (loss) from sale of sports and leisure business | | | — | | | | | | 40 | | |

| Other | | | 3 | | | | | | 6 | | |

| Total other income (expense) | | | $ | (45) | | | | | $ | 121 | |

| 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

As a global leader with a 50-year track record, we are a preferred Reinsurance partner in the markets we serve, and with

our growing Insurance franchise we strive to deliver consistent value to all our stakeholders.

We continue to grow and develop our Insurance business, investing in our global platform and strengthening our portfolio and its potential to deliver on our customer promise.

Premiums.

Gross written premiums increased by 9.6% to $18.2 billion in 2024, compared to $16.6 billion in 2023, reflecting a $1.5 billion, or 12.9% increase in our reinsurance business and a $191 million, or 3.9%, increase in our insurance business.

The increase in insurance

Net written premiums increased by 7.4% to $15.8 billion in 2024, compared to $14.7 billion in 2023.

The current year over prior year increase remained relatively consistent with the percentage increase in gross written premiums.

Premiums earned increased by 13.0% to $15.2 billion in 2024, compared to $13.4 billion in 2023, which is consistent with the percentage changes in gross written premiums.

We recognized foreign currency exchange income of $58 million in 2024 and foreign currency exchange expense of $24 million in 2023.

Additionally, we recognized a $40 million gain on sale of our sports and leisure business, including renewal rights, sold during the fourth quarter and a $9 million pension plan curtailment gain.

| 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Attritional | | | $ | 7,047 | | | | | 59.8 | | % | | | | $ | (2) | | | | | — | | % | | | | $ | 7,045 | | | | | 59.8 | | % |

| Catastrophes | | | 1,055 | | | | | | 9.0 | | % | | | | — | | | | | | — | | % | | | | 1,055 | | | | | | 9.0 | | % |

| Total segment | | | $ | 8,102 | | | | | 68.8 | | % | | | | $ | (2) | | | | | — | | % | | | | $ | 8,100 | | | | | 68.7 | | % |

| Variance 2023/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Attritional | | | $ | 916 | | | | | (0.5) | | pts | | | | $ | (3) | | | | | — | | pts | | | | $ | 912 | | | | | (0.6) | | pts |

| Catastrophes | | | (585) | | | | | | (5.5) | | pts | | | | — | | | | | | — | | pts | | | | (585) | | | | | | (5.5) | | pts |

| Total segment | | | $ | 331 | | | | | (6.0) | | pts | | | | $ | (3) | | | | | — | | pts | | | | $ | 327 | | | | | (6.0) | | pts |

segment.

The $470 million of current year catastrophe losses in 2023 related primarily to the 2023 Turkey earthquakes ($103 million), Hurricane Otis ($100 million), the 2023 Italy convective storm ($57 million), the 2023 New Zealand storms ($45 million), the 2023 Morocco earthquake ($40 million), the 2023 Hawaii wildfire ($32 million) and Hurricane Idalia ($23 million), with the remaining losses resulting from various storm events.

In addition, the Reinsurance segment recorded $684 million of unfavorable development on prior year casualty reserves.

The increase in 2024 compared to 2023 was primarily due to information management related costs, including the acceleration of cybersecurity, corporate applications and infrastructure investments as well as an increase in compensation costs due to increased headcount from the prior year.

The tax benefit in 2023 was primarily due to the implementation of the provisions of the Bermuda Corporate Income Tax Act of 2023 (“The 2023 Act”).

On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was enacted.

We have evaluated the tax provisions of the IRA, the most significant of which are the corporate alternative minimum tax and the share repurchase excise tax, and do not expect the legislation to have a material impact on our results of operations.

The decline was primarily driven by a decrease in underwriting income of $1.6 billion resulting from the unfavorable prior year development recognized in 2024, partially offset by an increase of $520 million in net investment income.

Our combined ratio increased by 11.4 points to 102.3% in 2024, compared to 90.9% in 2023.

The loss ratio component increased by 11.7 points in 2024 over the same period last year mainly due to an increase of $423 million in catastrophe losses and prior year development on attritional losses.

| A | | | 8,216 | | | | | | 27.7 | | % | | | | 7,297 | | | | | | 25.5 | | % |

| BB | | | 738 | | | | | | 2.5 | | % | | | | 1,067 | | | | | | 3.7 | | % |

| Gains | | | 2 | | | | | | 8 | | | | | | 165 | | | | | | (7) | | | | | | (156) | | |

| Total | | | 1 | | | | | | 8 | | | | | | 112 | | | | | | (7) | | | | | | (104) | | |

| Total | | | (1) | | | | | | — | | | | | | (460) | | | | | | (1) | | | | | | 461 | | |

The realized gains from dispositions of investments mainly related to the execution of a Company strategy to sell lower yielding investments in order to reinvest the proceeds at higher interest rates.

It also

Additionally, 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 reportable segment groupings.

These products have been realigned from within the Reinsurance segment to the Insurance segment to appropriately reflect how the business segments are managed due to changes in management implemented during the fourth quarter of 2023.

Gross written premiums increased by 12.9% to $12.9 billion in 2024 from $11.5 billion in 2023.

Net written premiums increased by 10.8% to $12.0 billion in 2024, compared to $10.8 billion in 2023.

See “Market Sensitive Instruments” [removed: in] [added: under] ITEM 7.

At December 31, [removed: 2024,] [added: 2025,] we had shareholders’ equity of [removed: $13.9] [added: $15.5] billion and total assets of [removed: $56.3] [added: $62.5] billion.

Our global network [removed: of operations] spans more than 100 countries across six continents.

In [removed: 2024,] [added: 2025,] the Company had gross written premiums of [removed: $18.2] [added: $17.7] billion with approximately [removed: 71.0%] [added: 72.4%] representing Reinsurance and [removed: 27.9%] [added: 27.1%] representing Insurance with the remaining [removed: 1.1%] [added: 0.5%] of gross written premium coming from our “Other” operating segment.

- Bermuda Re, a Bermuda insurance company and a direct subsidiary of Group, is registered in Bermuda as a Class 4 insurer and long-term insurer and is authorized to write both reinsurance and insurance property and casualty [removed: business.]

- Ireland Re, an Ireland reinsurance company and an indirect subsidiary of Group, is licensed to write [removed: non-life] [added: property and casualty] reinsurance, both directly and through brokers, for the London and European markets through its Ireland office as well as through its Zurich branch.

[removed: - Lloyd's of London (“Lloyd's”) Syndicate 2786, a wholly-owned Everest syndicate supported by funds at] Lloyd’s [removed: provided by Everest Corporate Member Limited,] [added: Syndicate 2786] was established in 2015 as a platform to facilitate the further expansion of Everest's international insurance operations.

- Everest Compañia de Seguros Generales Chile S.A., a Chile based insurance [removed: company,] [added: company and a direct subsidiary of Group,] is licensed to write [added: property and casualty] insurance and reinsurance [added: business] within Chile.

- Everest Compañia de Seguros Generales Colombia S.A., a Colombia based insurance company and a direct subsidiary of Everest International, is licensed to write property and casualty [added: insurance and reinsurance] business within Colombia.

[removed: -] Compañia de Seguros Generales Everest Mexico S.A. de C.V., a Mexico based insurance company, is licensed to write property and casualty [added: insurance and reinsurance] business within Mexico.

- Everest [removed: Reinsurance Company,] [added: Re,] a Delaware reinsurance company and a direct subsidiary of Holdings, is a licensed property and casualty insurer and/or reinsurer in all 50 states, the District of Columbia, Puerto Rico and Guam and is authorized to conduct reinsurance business in Canada, [removed: Singapore] [added: Singapore, India] and Brazil.

- Everest National Insurance Company (“Everest National”), a Delaware insurance company and a direct subsidiary of Everest [removed: Reinsurance Company,] [added: Re,] is licensed in all 50 states, the District of Columbia and Puerto Rico and is authorized to write property and casualty insurance on an admitted basis in the jurisdictions in which it is licensed.

The majority of Everest National’s business is reinsured by its parent, Everest [removed: Reinsurance Company.][added: Re.]

- Everest Indemnity Insurance Company (“Everest Indemnity”), a Delaware insurance company and a direct subsidiary of Everest [removed: Reinsurance Company,] [added: Re,] writes excess and surplus lines insurance business in the U.S. on a non-admitted basis.

The majority of Everest Indemnity’s business is reinsured by its parent, Everest [removed: Reinsurance Company.][added: Re.]

- Everest Security Insurance Company (“Everest Security”), a Delaware insurance company and a direct subsidiary of Everest [removed: Reinsurance Company,] [added: Re,] is licensed to write property and casualty insurance on an admitted basis in Delaware, [removed: Georgia] [added: Georgia, Alabama] and [removed: Alabama.][added: Texas.]

The majority of Everest Security’s business is reinsured by its parent, Everest [removed: Reinsurance Company.][added: Re.]

- Everest Premier Insurance Company (“Everest Premier”), a Delaware insurance company and a direct subsidiary of Everest [removed: Reinsurance Company,] [added: Re,] is licensed to write property and casualty insurance in all 50 states and the District of Columbia.

The majority of Everest Premier’s business is reinsured by its parent, Everest [removed: Reinsurance Company.][added: Re.]

- Everest Denali Insurance Company (“Everest Denali”), a Delaware insurance company and a direct subsidiary of Everest [removed: Reinsurance Company,] [added: Re,] is licensed to write property and casualty insurance in all 50 states and the District of Columbia.

The majority of Everest Denali’s business is reinsured by its parent, Everest [removed: Reinsurance Company.][added: Re.]

- Everest International Assurance, Ltd. (“Everest Assurance”), a Bermuda company and a direct subsidiary of [removed: Holdings] [added: Everest Re] is registered in Bermuda as a Class 3A general business insurer and as a Class C long-term insurer.

As of February 1, [removed: 2025,] [added: 2026,] the Company employed [removed: 3,037] [added: 3,064] persons.

[removed: By] offering a meaningful and engaging colleague experience, we are focused on inspiring our global teams to underwrite opportunity in everything that they do.

Everest’s [removed: Colleague Value Proposition, *Opportunity through Unity,* includes the building blocks of the Company’s culture: our mission, purpose] [added: Values] and [removed: values, as well as a set of] Colleague Behaviors [removed: that] speak to how we operate as One Everest, regardless of location, level or function.

[removed: Since 2023,] Everest Group, Ltd. trades on the New York Stock Exchange (“NYSE”) under the ticker symbol (NYSE: EG).

For the year ended December 31, [removed: 2024,] [added: 2025,] no single customer (ceding company or insured) generated more than [removed: 3.9%] [added: 3.6%] of the Company’s gross written premiums.

Approximately [removed: 64.8%, 28.5%] [added: 65.9%, 27.0%] and [removed: 6.7%] [added: 7.1%] of the Company’s [removed: 2024] [added: 2025] gross written premiums were written in the broker reinsurance market, the insurance business and the direct reinsurance market, respectively.

Brokers do not have the authority to bind the Company with respect to reinsurance agreements, nor [added: does the Company commit in advance to accept any portion of a broker’s submitted business.]

The Reinsurance segment’s ten largest brokers accounted for an aggregate of approximately [removed: 60.5%] [added: 60.9%] of gross written premiums in [removed: 2024.][added: 2025.]

The broker with the largest share of the company’s business, Marsh [removed: and] McLennan, accounted for approximately [removed: 21.9%] [added: 22.4%] of gross written premiums.

The broker with the next-largest share, Aon, accounted for approximately [removed: 19.2%] [added: 18.7%] of gross written premiums.

In [removed: 2024,] [added: 2025,] no [added: single] program administrator accounted for more than [removed: 5.5%] [added: 4.3%] of the Insurance segment’s gross written premium in total.

The Company’s underwriting strategies seek to capitalize on what we believe are our [added: global franchise,] financial strength and capacity, [removed: global franchise,] stable and experienced management team, diversified product and distribution offerings, underwriting expertise and disciplined approach, efficient and low-cost operating structure and effective enterprise risk management practices.

[removed: We focus on] (re)insuring companies that effectively manage their own underwriting cycle through proper analysis and appropriate pricing of underlying risks and whose underwriting guidelines and performance are compatible with their and the Company’s objectives.

[removed: The Company conducts business through two reportable segments, Reinsurance and Insurance, which are managed as autonomous units, and key] [added: Key] strategic decisions are based on the aggregate operating results and projections for the two business segments.

The [removed: new] Other segment includes the results of our sports and leisure business sold in October 2024, consisting of policies written prior to the sale and polices renewed and certain new business written on the Company’s paper post-sale.

Business is written in the United States, Bermuda and Ireland offices, as well as through branches in Canada, [added: India,] Singapore, the U.K. and Switzerland.

[removed: We measure our underwriting results using ratios, in particular, loss, commission and] brokerage and other underwriting expense ratios, which, respectively, divide incurred losses, commissions and brokerage and other underwriting expenses by premiums earned.

For selected financial information regarding these segments, see ITEM 8, “Financial Statements and Supplementary Data - Note [removed: 6] [added: 7] of Notes to Consolidated Financial Statements” and ITEM 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operation - Segment Results”.

The ceding commission generally is based on the ceding company’s cost of acquiring the business being reinsured (such as commissions, premium taxes, assessments and miscellaneous administrative expenses, and may contain profit sharing provisions, [added: whereby the ceding commission is adjusted based on loss experience).]

On October 26, 2025, the Company entered into an agreement with American International Group, Inc. (“AIG”) to sell the renewal rights for certain lines of commercial retail insurance business written by the Company in the U.S., U.K. and Asia Pacific, for an aggregate purchase price of $252 million.

AIG paid the Company $30 million for originating and structuring the transaction.

In addition, on October 26, 2025, the Company entered into an agreement with AIG to sell the renewal rights for certain lines of commercial retail insurance business written by the Company in certain countries in the European Union, for an aggregate purchase price of $49 million.

Under the sale agreements, AIG has also agreed to pay the Company a total of $10 million per month for nine months for specified transition services starting January 1, 2026.

For more details, see Form 8-K filed with the SEC on October 28, 2025 and the Master Transaction Agreements incorporated herein.

These transactions sharpen the Company’s focus on its core global reinsurance business as well as its global wholesale and specialty insurance businesses.

The renewal rights of these businesses total an estimated $2 billion of aggregate gross premiums written.

Operating Subsidiaries.

business.

- Everest Corporate Member Limited (“ECML”) writes insurance business through Lloyd's of London (“Lloyd's”) Syndicate 2786, a wholly-owned Everest syndicate supported by funds at Lloyd’s provided by ECML.

The syndicate is internally managed by Everest Managing Agency Limited as of August 18, 2025.

Effective October 26, 2025, the Company sold its renewals rights to certain lines of commercial property and casualty insurance business written through retail brokers.

See the Our Operations section for further details of this transaction.

We focus on

Competition.

By

As of December 31, 2025, the Company managed its business through two reportable segments, Reinsurance and Insurance.

We measure our underwriting results using ratios, in particular, loss, commission and

Effective October 26, 2025, the Company sold its renewals rights to certain lines of commercial property and casualty insurance business written through retail brokers.

See the Our Operations section for further details of this transaction.

limited authority and are subject to oversight by the Company’s Claims staff.

*Adverse Development Cover Reinsurance Agreements*

Effective October 1, 2025, the Company through its subsidiaries Everest Re and Bermuda Re (the “Ceding Companies”) entered into adverse development reinsurance agreements with State National Insurance Company, Inc. and MS Transverse Insurance Company.

The Reinsurance Agreements are supported on a retrocessional basis by Longtail Re, an affiliate of Stone Ridge Capital.

The agreements reinsure potential adverse loss development for accident years 2024 and prior arising from substantially all of the Ceding Companies’ North American liabilities within the Insurance and Other segments (“Subject Business”) up to a gross limit of $1.2 billion.

Certain liabilities are excluded from the Subject Business, including among others those related to the A&E reserves included in the Other segment.

The carried reserves held for the Subject Business were $5.4 billion as of September 30, 2025 and $5.0 billion as of December 31, 2025, respectively.

The adverse development cover (“ADC”) is composed of three layers.

The first layer is an “in the money” layer whereby the ADC attachment point was $1,250 billion below the Company’s North American Insurance and Other segment liability subject reserves of $5.4 billion held as of September 30, 2025.

The second layer is $700 million in excess of the $5.4 billion.

The Company transferred $1,250 million of in-the-money reserves in consideration for the first two layers upon closing of the transaction.

The third layer is $500 million, for which the Company paid approximately $122 million of consideration upon closing of the transaction.

The Company has a co-participation of $100 million in each of the second and third layers.

For more details, see Form 8-K filed with the SEC on October 27, 2025 and the adverse development reinsurance agreements attached thereto and incorporated by reference below in Exhibits 10.55 and 10.56.

As of December 31, 2025, the total covered losses ceded to State National Insurance Company, Inc. were $1,253 million.

The aggregated unexpired limit was $597 million and $400 million for State National Insurance Company, Inc. and MS Transverse Insurance Company, respectively.

On December 20, 2019, the retrocession treaty was amended and included a partial commutation reducing the gross A&E reserves and the corresponding reinsurance receivable by $43 million and increasing the maximum liability permitted to be retroceded to $450 million.

The Board of Directors of each of the Company’s operating subsidiaries ensures that investment policies are in compliance with local regulatory requirements and are aligned with Group’s overall investment policy and guidelines.

| Compañia de Seguros Generales Everest Mexico S.A. de C.V. | | | A+ (Superior) | | | | | | Not Rated | | | | | | Not Rated | | |

(1) Everest Compañía de Seguros Generales Chile S.A. is rated AA by Humphreys and AA+ by ICR Chile.

As of December 31, 2024, Bermuda Re had shareholder’s equity of $4.3 billion.

As of December 31, 2024, Everest International had shareholder’s equity of $1.7 billion.

The syndicate is managed by a third-party managing agency.

Everest Reinsurance Company underwrites property and casualty reinsurance for insurance and reinsurance companies in the U.S. and international markets, through its U.S. offices as well as through its branches in Canada and Singapore.

As of December 31, 2024, Everest Reinsurance Company had statutory surplus of $8.1 billion.

In 2024, we had four pillars providing the foundation for our strategic framework as described below.

1.Alignment & Accountability: Our integrated global efforts align with our corporate strategy, cultural values and colleague behaviors.

2.Colleague-Centered: Our colleagues are the center of the global programs, processes and partnerships we create, and we value and respect their diverse experiences and perspectives.

3.Culture & Engagement: Our workplace culture of deep colleague engagement thrives because of our efforts to advance inclusion, allyship and belonging.

4.Opportunity & Growth: Our global efforts and ways to underwrite opportunity for all stakeholders are oriented toward growth, and we have the agility to pivot as necessary to support our strategic priorities.

We look to seize opportunities to celebrate our culture and lift one another up.

Our global Colleague Resource Groups (“CRGs”), as part of our engagement efforts, connect regularly through networking events, professional development opportunities and sharing cultural traditions, driving greater awareness and collaboration across offices worldwide.

Participation in our CRGs is open to everyone, regardless of background, to enhance career and personal development, exchange ideas and share cultural experiences and backgrounds to contribute to Everest’s vision and values.

As of December 31, 2024, the Company sponsors nine CRGs.

We also have two Business Resource Groups (“BRGs”) which are colleague-centered and are sponsored as part of our global business objectives.

Our CRGs and BRGs support our efforts in the areas of volunteerism, sustainability and innovation.

Everest’s value proposition is built on five decades of reinsurance leadership and an expanding presence in the global primary insurance market.

does the Company commit in advance to accept any portion of a broker’s submitted business.

The Company’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, thereby achieving an attractive return for its shareholders.

Additionally, 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 reportable segment groupings.

These products have been realigned from within the Reinsurance segment to the Insurance segment to appropriately reflect how the business segments are managed due to changes in management implemented during the fourth quarter of 2023.

The Company will continue to have two reportable segments that actively sell products, Reinsurance and Insurance, consistent with how the on-going business is managed.

whereby the ceding commission is adjusted based on loss experience).

Reinsurance can be written through intermediaries, generally professional reinsurance brokers, or directly with ceding companies.

From a ceding company's perspective, the broker and the direct distribution channels have advantages and disadvantages.

A ceding company's decision to select one distribution channel over the other will be influenced by its perception of such advantages and disadvantages relative to the reinsurance coverage being placed.

*Competition*

Competition for clients might be based on pricing, capacity, coverage terms, conditions or other factors.

These operations are managed to conform with corporate guidelines with respect to pricing, risk management, control of aggregate catastrophe exposures, capital and investments.

The global insurance market is highly competitive.

Insurance companies differentiate themselves based on financial strength, range of products, brand recognition, agent and broker relationships, distribution channels, claims management and customer service.

We compete on a global and regional basis with major U.S., Bermuda, European, and other international insurers.

Reserves are

On December 20, 2019, the retrocession treaty was amended and included a partial commutation.

As a result of this amendment and partial commutation, gross A&E reserves and the corresponding reinsurance receivable were reduced by $43.4 million.

In addition, the maximum liability permitted to be retroceded increased to $450.3 million.

A.M. Best affirmed these ratings on July 19, 2024, with a stable outlook.

Moody’s affirmed these ratings on May 17, 2024, with a stable outlook.

(1) On January 29, 2024, S&P lowered the ratings of the Company’s non-operating holding companies (“NOHCs”) and debt (from two notches lower than the operating companies to three notches) to align Everest with the potential high regulatory restrictions on payment distributions from the company's U.S. operating subsidiaries to the NOHCs.

| | | | [removed: X] [added: R] | | | | | | Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | |

| | | | | | | | | | For the fiscal year ended December 31, [removed: 2024] [added: 2025] | | |

| | | | [added: ¨] | | | | | | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | |

| Yes | | | [removed: X] [added: R] | | | | | | No | | | [added: ¨] | | |

| Yes | | | [added: ¨] | | | | | | No | | | [removed: X] [added: R] | | |

| | | | Large accelerated filer | | | [removed: X] [added: R] | | | | | | Accelerated filer | | | [added: ¨] | | | | | |

| | | | Non-accelerated filer | | | [added: ¨] | | | | | | Smaller reporting company | | | [added: ¨] | | | | | |

| | | | | | | | | | | | | Emerging growth company | | | [added: ¨] | | | | | |

The aggregate market value as of June 30, [removed: 2024,] [added: 2025,] the last business day of the registrant’s most recently completed second quarter, of the voting shares held by non-affiliates of the registrant was [removed: $16.5] [added: $14.3] billion.

| Class | | | | | | | | | | | | | | | | | | Number of Shares Outstanding [removed: At] [added: at] February 1, [removed: 2025] [added: 2026] | | |

| Common Shares, $0.01 par value | | | | | | | | | | | | | | | | | | [removed: 42,934,097] [added: 40,390,151] | | |

Certain information required by Items 10, 11, 12, 13 and 14 of Form 10-K is incorporated by reference into Part III hereof from the registrant’s proxy statement for the [removed: 2025] [added: 2026] Annual General Meeting of Shareholders, which will be filed with the Securities and Exchange Commission within 120 days of the close of the registrant’s fiscal year ended December 31, [removed: 2024.][added: 2025.]

| [Item [removed: 1.](#i942357a786a946f3b358740450864287_16)] [added: 1.](#i4f361a54d47844889d56f3b13bc51360_16)] | | | [removed: [Business](#i942357a786a946f3b358740450864287_16)] [added: [Business](#i4f361a54d47844889d56f3b13bc51360_16)] | | | [removed: [1](#i942357a786a946f3b358740450864287_16)] [added: [1](#i4f361a54d47844889d56f3b13bc51360_16)] | | |

| [Item [removed: 1A.](#i942357a786a946f3b358740450864287_121)] [added: 1A.](#i4f361a54d47844889d56f3b13bc51360_121)] | | | [Risk [removed: Factors](#i942357a786a946f3b358740450864287_121)] [added: Factors](#i4f361a54d47844889d56f3b13bc51360_121)] | | | [removed: [19](#i942357a786a946f3b358740450864287_121)] [added: [20](#i4f361a54d47844889d56f3b13bc51360_121)] | | |

| [Item [removed: 1B.](#i942357a786a946f3b358740450864287_139)] [added: 1B.](#i4f361a54d47844889d56f3b13bc51360_139)] | | | [Unresolved Staff [removed: Comments](#i942357a786a946f3b358740450864287_139)] [added: Comments](#i4f361a54d47844889d56f3b13bc51360_139)] | | | [removed: [32](#i942357a786a946f3b358740450864287_139)] [added: [35](#i4f361a54d47844889d56f3b13bc51360_139)] | | |

| [Item [removed: 1C.](#i942357a786a946f3b358740450864287_142)] [added: 1C.](#i4f361a54d47844889d56f3b13bc51360_142)] | | | [removed: [Cybersecurity](#i942357a786a946f3b358740450864287_142)] [added: [Cybersecurity](#i4f361a54d47844889d56f3b13bc51360_142)] | | | [removed: [32](#i942357a786a946f3b358740450864287_142)] [added: [35](#i4f361a54d47844889d56f3b13bc51360_142)] | | |

| [Item [removed: 2.](#i942357a786a946f3b358740450864287_145)] [added: 2.](#i4f361a54d47844889d56f3b13bc51360_145)] | | | [removed: [Properties](#i942357a786a946f3b358740450864287_145)] [added: [Properties](#i4f361a54d47844889d56f3b13bc51360_145)] | | | [removed: [34](#i942357a786a946f3b358740450864287_145)] [added: [36](#i4f361a54d47844889d56f3b13bc51360_145)] | | |

| [Item [removed: 3.](#i942357a786a946f3b358740450864287_148)] [added: 3.](#i4f361a54d47844889d56f3b13bc51360_148)] | | | [Legal [removed: Proceedings](#i942357a786a946f3b358740450864287_148)] [added: Proceedings](#i4f361a54d47844889d56f3b13bc51360_148)] | | | [removed: [34](#i942357a786a946f3b358740450864287_148)] [added: [37](#i4f361a54d47844889d56f3b13bc51360_148)] | | |

| [Item [removed: 4.](#i942357a786a946f3b358740450864287_151)] [added: 4.](#i4f361a54d47844889d56f3b13bc51360_151)] | | | [Mine Safety [removed: Disclosures](#i942357a786a946f3b358740450864287_151)] [added: Disclosures](#i4f361a54d47844889d56f3b13bc51360_151)] | | | [removed: [34](#i942357a786a946f3b358740450864287_151)] [added: [37](#i4f361a54d47844889d56f3b13bc51360_151)] | | |

| | | | [PART [removed: II](#i942357a786a946f3b358740450864287_154)] [added: II](#i4f361a54d47844889d56f3b13bc51360_154)] | | | | | |

| [Item [removed: 5.](#i942357a786a946f3b358740450864287_157)] [added: 5.](#i4f361a54d47844889d56f3b13bc51360_157)] | | | [Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity [removed: Securities](#i942357a786a946f3b358740450864287_157)] [added: Securities](#i4f361a54d47844889d56f3b13bc51360_157)] | | | [removed: [34](#i942357a786a946f3b358740450864287_157)] [added: [37](#i4f361a54d47844889d56f3b13bc51360_157)] | | |

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| [Item [removed: 7.](#i942357a786a946f3b358740450864287_163)] [added: 7.](#i4f361a54d47844889d56f3b13bc51360_163)] | | | [Management’s Discussion and Analysis of Financial Condition and Results of [removed: Operations](#i942357a786a946f3b358740450864287_163)] [added: Operations](#i4f361a54d47844889d56f3b13bc51360_163)] | | | [removed: [37](#i942357a786a946f3b358740450864287_163)] [added: [40](#i4f361a54d47844889d56f3b13bc51360_163)] | | |

| [Item [removed: 7A.](#i942357a786a946f3b358740450864287_220)] [added: 7A.](#i4f361a54d47844889d56f3b13bc51360_247)] | | | [Quantitative and Qualitative Disclosures About Market [removed: Risk](#i942357a786a946f3b358740450864287_220)] [added: Risk](#i4f361a54d47844889d56f3b13bc51360_247)] | | | [removed: [63](#i942357a786a946f3b358740450864287_220)] [added: [68](#i4f361a54d47844889d56f3b13bc51360_247)] | | |

| [Item [removed: 8.](#i942357a786a946f3b358740450864287_223)] [added: 8.](#i4f361a54d47844889d56f3b13bc51360_250)] | | | [Financial Statements and Supplementary [removed: Data](#i942357a786a946f3b358740450864287_223)] [added: Data](#i4f361a54d47844889d56f3b13bc51360_250)] | | | [removed: [63](#i942357a786a946f3b358740450864287_223)] [added: [68](#i4f361a54d47844889d56f3b13bc51360_250)] | | |

| [Item [removed: 9.](#i942357a786a946f3b358740450864287_226)] [added: 9.](#i4f361a54d47844889d56f3b13bc51360_253)] | | | [Changes in and Disagreements With Accountants on Accounting and Financial [removed: Disclosure](#i942357a786a946f3b358740450864287_226)] [added: Disclosure](#i4f361a54d47844889d56f3b13bc51360_253)] | | | [removed: [63](#i942357a786a946f3b358740450864287_226)] [added: [68](#i4f361a54d47844889d56f3b13bc51360_253)] | | |

| [Item [removed: 9A.](#i942357a786a946f3b358740450864287_229)] [added: 9A.](#i4f361a54d47844889d56f3b13bc51360_256)] | | | [Controls and [removed: Procedures](#i942357a786a946f3b358740450864287_229)] [added: Procedures](#i4f361a54d47844889d56f3b13bc51360_256)] | | | [removed: [63](#i942357a786a946f3b358740450864287_229)] [added: [68](#i4f361a54d47844889d56f3b13bc51360_256)] | | |

| [Item [removed: 9B.](#i942357a786a946f3b358740450864287_232)] [added: 9B.](#i4f361a54d47844889d56f3b13bc51360_259)] | | | [Other [removed: Information](#i942357a786a946f3b358740450864287_232)] [added: Information](#i4f361a54d47844889d56f3b13bc51360_259)] | | | [removed: [64](#i942357a786a946f3b358740450864287_232)] [added: [68](#i4f361a54d47844889d56f3b13bc51360_259)] | | |

| [Item [removed: 9C.](#i942357a786a946f3b358740450864287_235)] [added: 9C.](#i4f361a54d47844889d56f3b13bc51360_262)] | | | [Disclosure Regarding Foreign Jurisdictions that Prevent [removed: Inspections](#i942357a786a946f3b358740450864287_235)] [added: Inspections](#i4f361a54d47844889d56f3b13bc51360_262)] | | | [removed: [64](#i942357a786a946f3b358740450864287_235)] [added: [69](#i4f361a54d47844889d56f3b13bc51360_262)] | | |

| [Item [removed: 10.](#i942357a786a946f3b358740450864287_241)] [added: 10.](#i4f361a54d47844889d56f3b13bc51360_268)] | | | [Directors, Executive Officers and Corporate [removed: Governance](#i942357a786a946f3b358740450864287_241)] [added: Governance](#i4f361a54d47844889d56f3b13bc51360_268)] | | | [removed: [65](#i942357a786a946f3b358740450864287_241)] [added: [69](#i4f361a54d47844889d56f3b13bc51360_268)] | | |

| [Item [removed: 11.](#i942357a786a946f3b358740450864287_244)] [added: 11.](#i4f361a54d47844889d56f3b13bc51360_271)] | | | [Executive [removed: Compensation](#i942357a786a946f3b358740450864287_244)] [added: Compensation](#i4f361a54d47844889d56f3b13bc51360_271)] | | | [removed: [65](#i942357a786a946f3b358740450864287_244)] [added: [69](#i4f361a54d47844889d56f3b13bc51360_271)] | | |

| [Item [removed: 12.](#i942357a786a946f3b358740450864287_247)] [added: 12.](#i4f361a54d47844889d56f3b13bc51360_274)] | | | [Security Ownership of Certain Beneficial Owners and Management and Related Shareholder [removed: Matters](#i942357a786a946f3b358740450864287_247)] [added: Matters](#i4f361a54d47844889d56f3b13bc51360_274)] | | | [removed: [65](#i942357a786a946f3b358740450864287_247)] [added: [69](#i4f361a54d47844889d56f3b13bc51360_274)] | | |

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| [Item [removed: 14.](#i942357a786a946f3b358740450864287_253)] [added: 14.](#i4f361a54d47844889d56f3b13bc51360_280)] | | | [Principal Accountant Fees and [removed: Services](#i942357a786a946f3b358740450864287_253)] [added: Services](#i4f361a54d47844889d56f3b13bc51360_280)] | | | [removed: [65](#i942357a786a946f3b358740450864287_253)] [added: [69](#i4f361a54d47844889d56f3b13bc51360_280)] | | |

| [Item [removed: 15.](#i942357a786a946f3b358740450864287_259)] [added: 15.](#i4f361a54d47844889d56f3b13bc51360_286)] | | | [Exhibits and Financial Statement [removed: Schedules](#i942357a786a946f3b358740450864287_259)] [added: Schedules](#i4f361a54d47844889d56f3b13bc51360_286)] | | | [removed: [65](#i942357a786a946f3b358740450864287_259)] [added: [69](#i4f361a54d47844889d56f3b13bc51360_286)] | | |

- insufficient reserves for losses and loss adjustment expenses (“LAE”) due to the impact of social [removed: inflation;][added: inflation or other factors;]

- our inability or failure to purchase [added: adequate] reinsurance;

- the failure of our [removed: insured,] [added: insureds,] intermediaries and reinsurers to satisfy their obligations to us;

- the effects of measures taken by domestic or foreign governments on our [removed: business;][added: business, including but not limited to the impact of tariffs imposed or threatened by the U.S. or foreign governments;]

- our ability to [added: attract and] retain [removed: our] key executive officers and [removed: to attract or retain] the executives and employees necessary to manage our business;

| Yes | | | R | | | | | | No | | | ¨ | | |

| Yes | | | R | | | | | | No | | | ¨ | | |

| Yes | | | ¨ | | | | | | No | | | R | | |

| Yes | | | R | | | | | | No | | | ¨ | | |

| | | | ¨ | | | | | |

| | | | ¨ | | | | | |

| Yes | | | ¨ | | | | | | No | | | R | | |

| | | | [PART I](#i4f361a54d47844889d56f3b13bc51360_13) | | | | | |

| | | | [PART III](#i4f361a54d47844889d56f3b13bc51360_265) | | | | | |

| | | | [PART IV](#i4f361a54d47844889d56f3b13bc51360_283) | | | | | |

- our ability to execute divestitures, obtain regulatory approvals and effectuate strategic transactions, including the sale of the renewal rights for our commercial retail insurance business;

_____________________

| | | | o | | | | | |

| | | | [PART I](#i942357a786a946f3b358740450864287_13) | | | | | |

| | | | [PART III](#i942357a786a946f3b358740450864287_238) | | | | | |

| | | | [PART IV](#i942357a786a946f3b358740450864287_256) | | | | | |

Everest has aligned and operationalized its cybersecurity program and controls [removed: to] [added: with] the National Institute of Standards and Technology (“NIST”) Cybersecurity Incident Response Framework to provide preventative, detective and responsive measures that are timely, comprehensive, systematic, and in alignment with industry standards, regulatory requirements, and the Company’s risk management framework.

The Company has a formal incident response escalation process, which involves a dedicated Security Operation Center (“SOC”) as well as [removed: a] [added: an] incident response team (“IRT”), to further escalate to senior management and the Board, as appropriate.

For the year ended December 31, [removed: 2024,] [added: 2025,] Everest has not experienced any cybersecurity incident that materially affected the Company, including its business strategy, results of operations or financial conditions.

The Company’s Board, through its committees, referenced above in ITEM [removed: 1 “Business” - Enterprise] [added: 1, “Enterprise] Risk [removed: Management,] [added: Management”,] has ultimate responsibility for risk oversight.

The CISO is dedicated to assessing the Company’s data security risk, monitoring cyber threat intelligence and taking the steps [added: necessary to implement pertinent safeguards and protocols to manage the risk.]

In addition, the ERC, referenced above in ITEM [removed: 1 “Business” - Enterprise] [added: 1, “Enterprise] Risk [removed: Management,] [added: Management”,] annually reviews the Company’s cyber exposure across all lines of business and security safeguards for privacy-protected data held by the Company.

Additionally, as compromised credentials and unauthorized access remain prevalent vectors for

cyberattacks, we have prioritized the advancement of our Identity and Access Management (IAM) protocols as a critical component of our cybersecurity strategy.

We continue to modernize and strengthen access controls, password policies, multi-factor authentication, and offboarding processes, to ensure that access to sensitive data and systems is restricted to authorized personnel and necessary business functions for the time period needed.

necessary to implement pertinent safeguards and protocols to manage the risk.

Bermuda Re’s corporate offices are located in approximately 12,300 total square feet of leased office space in [removed: Hamilton, Bermuda.]

The Company’s [removed: 33] [added: 29] other locations occupy a total of approximately [removed: 335,300] [added: 332,100] square feet, all of which are leased.

Hamilton, Bermuda.

The number of record holders of common shares as of February 1, [removed: 2025] [added: 2026] was [removed: 1,012.][added: 1,191.]

The Company declared and paid its quarterly cash dividend of $1.65 per share for the first quarter and second quarter of 2023, declared and paid its quarterly cash dividend of $1.75 per share for the third quarter of 2023 through the first quarter of 2024, and declared and paid its quarterly cash dividend of $2.00 per share for the [removed: remaining three quarters] [added: second quarter] of [removed: 2024.][added: 2024 through the fourth quarter of 2025.]

See [added: ITEM 1,] “Regulatory Matters - Dividends” and ITEM 8, “Financial Statements and Supplementary Data”- Note [removed: 17] [added: 18] of Notes to Consolidated Financial Statements.

| *Period* | | | Total Number of Shares (or Units) Purchased [added: (2)] | | | Average Price Paid per Share (or Unit) | | | Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs | | | Maximum Number of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs (1) | | |

(1) On November 7, 2024, the Company’s Board approved an amendment to the share repurchase program authorizing the Company and/or its subsidiary Holdings, to purchase up to an additional 10.0 million shares [removed: to a current] [added: resulting in an] aggregate [removed: of] [added: authority to purchase] 42.0 million of the Company’s shares (recognizing that the number of shares authorized for repurchase has been reduced by those shares that have already been purchased) in open market transactions, [added: share repurchase plans,] privately negotiated transactions or [removed: both.][added: a combination thereof.]

As of December 31, [removed: 2024,] [added: 2025,] the Company and/or its subsidiary Holdings have repurchased [removed: 31.3] [added: 33.7] million of the Company’s shares.

The following performance graph compares cumulative total shareholder returns on the common shares (assuming reinvestment of dividends) from December 31, [removed: 2019] [added: 2020] through December 31, [removed: 2024,] [added: 2025,] with the cumulative total return of the S&P 500 Index and the S&P Insurance (Property and Casualty) Index.

[removed: ][added: ]

*$100 invested on December 31, [removed: 2019] [added: 2020] in stock or index, including reinvestment of dividends.

| January 1 - 31, 2025 | | | — | | | $ | — | | — | | | 10,692,439 | | |

| February 1 - 28, 2025 | | | 276,667 | | | $ | 336.7723 | | 247,128 | | | 10,445,311 | | |

| March 1 - 31, 2025 | | | 352,698 | | | $ | 357.5636 | | 326,872 | | | 10,118,439 | | |

| April 1 - 30, 2025 | | | 69 | | | $ | 344.8114 | | — | | | 10,118,439 | | |

| May 1 - 31, 2025 | | | 509,392 | | | $ | 343.9679 | | 508,763 | | | 9,609,676 | | |

| June 1 - 30, 2025 | | | 72,568 | | | $ | 346.6925 | | 72,120 | | | 9,537,556 | | |

| July 1 - 31, 2025 | | | 87 | | | $ | 340.0975 | | — | | | 9,537,556 | | |

| August 1 - 31, 2025 | | | 70 | | | $ | 330.4174 | | — | | | 9,537,556 | | |

| September 1 - 30, 2025 | | | 1,028 | | | $ | 340.8210 | | — | | | 9,537,556 | | |

| October 1 - 31, 2025 | | | 80,621 | | | $ | 311.1641 | | 80,376 | | | 9,457,180 | | |

| November 1 - 30, 2025 | | | 838,964 | | | $ | 320.1009 | | 835,626 | | | 8,621,554 | | |

| December 1 - 31, 2025 | | | 325,295 | | | $ | 324.2029 | | 323,878 | | | 8,297,676 | | |

| Total | | | 2,457,459 | | | $ | — | | 2,394,763 | | | 8,297,676 | | |

(2) Shares that have not been repurchased through a publicly announced plan or program consist of shares repurchased by the Company from employees in order to satisfy tax withholding obligations on vestings and/or settlements of share-based compensation awards.

| | | | 12/20 | | | | | | 12/21 | | | | | | 12/22 | | | | | | 12/23 | | | | | | 12/24 | | | | | | 12/25 | | |

| Everest Group, Ltd. | | | 100.00 | | | | | | 119.84 | | | | | | 148.25 | | | | | | 161.17 | | | | | | 168.55 | | | | | | 161.56 | | |

| S&P 500 | | | 100.00 | | | | | | 128.71 | | | | | | 105.40 | | | | | | 133.10 | | | | | | 166.40 | | | | | | 196.16 | | |

| S&P Property & Casualty Insurance | | | 100.00 | | | | | | 119.28 | | | | | | 141.79 | | | | | | 157.12 | | | | | | 212.86 | | | | | | 234.33 | | |

| January 1 - 31, 2024 | | | 154 | | | $ | 374.3245 | | — | | | 1,228,908 | | |

| February 1 - 29, 2024 | | | 45,250 | | | $ | 369.7883 | | — | | | 1,228,908 | | |

| March 1 - 31, 2024 | | | 101,438 | | | $ | 387.5345 | | 90,291 | | | 1,138,617 | | |

| April 1 - 30, 2024 | | | 40 | | | $ | 356.4350 | | — | | | 1,138,617 | | |

| May 1 - 31, 2024 | | | 174,202 | | | $ | 374.1937 | | 173,718 | | | 964,899 | | |

| June 1 - 30, 2024 | | | 42 | | | $ | 380.4150 | | — | | | 964,899 | | |

| July 1 - 31, 2024 | | | — | | | $ | — | | — | | | 964,899 | | |

| August 1 - 31, 2024 | | | 208,144 | | | $ | 360.5101 | | 208,039 | | | 756,860 | | |

| September 1 - 30, 2024 | | | 69,623 | | | $ | 388.1102 | | 64,421 | | | 692,439 | | |

| October 1 - 31, 2024 | | | — | | | $ | — | | — | | | 692,439 | | |

| November 1 - 30, 2024 | | | 3,449 | | | $ | 370.0066 | | — | | | 692,439 | | |

| December 1 - 31, 2024 | | | — | | | $ | — | | — | | | 692,439 | | |

| Total | | | 602,342 | | | $ | — | | 536,469 | | | 692,439 | | |

| | | | 12/19 | | | | | | 12/20 | | | | | | 12/21 | | | | | | 12/22 | | | | | | 12/23 | | | | | | 12/24 | | |

| Everest Group, Ltd. | | | 100.00 | | | | | | 86.94 | | | | | | 104.19 | | | | | | 128.89 | | | | | | 140.12 | | | | | | 146.54 | | |

| S&P 500 | | | 100.00 | | | | | | 118.40 | | | | | | 152.39 | | | | | | 124.79 | | | | | | 157.59 | | | | | | 197.02 | | |

| S&P Property & Casualty Insurance | | | 100.00 | | | | | | 106.96 | | | | | | 127.58 | | | | | | 151.65 | | | | | | 168.05 | | | | | | 227.67 | | |

The financial statements and schedules listed in the accompanying Index to [added: Consolidated] Financial [removed: Statements] [added: Statements, Notes] and Schedules on page F-1 are filed as part of this report.

Management has assessed the effectiveness of our internal control over financial reporting as of December 31, [removed: 2024.][added: 2025.]

In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in [removed: *Internal] [added: Internal] Control - Integrated Framework [removed: (2013)*.][added: (2013).]

Based on our assessment we concluded that, as of December 31, [removed: 2024,] [added: 2025,] our internal control over financial reporting is effective based on those criteria.

The effectiveness of the Company’s internal control over financial reporting as of December 31, [removed: 2024,] [added: 2025,] has been audited by KPMG LLP, an independent registered public accounting firm, as stated in their report, which appears herein.

During the fiscal quarter ended December 31, [removed: 2024,] [added: 2025,] none of our directors or officers adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Regulation S-K, Item 408.

Reference is made to the sections captioned “Information Concerning Director Nominees”, “Information Concerning Executive Officers”, “Audit Committee”, “Nominating and Governance Committee”, “Ethics Guidelines and Code of Ethics for CEO and Senior Financial Officers” and “Delinquent Section 16(a) Reports” in our proxy statement for the [removed: 2025] [added: 2026] Annual General Meeting of Shareholders, which will be filed with the Commission within 120 days of the close of our fiscal year ended December 31, [removed: 2024] [added: 2025] (the “Proxy Statement”), which sections are incorporated herein by reference.

[removed: Financial Statements and Schedules.][added: INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULES]

The exhibits listed on the [removed: accompanying Index to Exhibits on page E-1] [added: index above] are filed as part of this report except that the certifications in Exhibit 32 are being furnished to the SEC, rather than filed with the SEC, as permitted under applicable SEC rules.

| 3.2 | | | | | | [removed: [Bye-Laws] [added: [Bye-laws] of Everest Group, Ltd., [added: as amended May 14, 2025] incorporated herein by reference to [removed: exhibit 3.2] [added: Exhibit 3.1] to [removed: the] Everest Group, [removed: Ltd., Quarterly Report for] [added: Ltd.] Form 10-Q [removed: for the quarter ended June 30, 2011 (the “second quarter 2011 10-Q”)](https://www.sec.gov/Archives/edgar/data/1095073/000109507311000053/bylawsexhibit.htm)] [added: filed on August 1, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000061/eg-20250630xexx31.htm)] | | |

| *10.7 | | | | | | [Everest Group, Ltd. 2009 Stock Option and Restricted Stock Plan for Non-Employee [removed: Directors](https://www.sec.gov/Archives/edgar/data/1095073/000109507309000031/appendixb2008proxy.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507309000031/appendixb2008proxy.htm) [incorporated] [added: Directors, incorporated] herein by reference to Exhibit 10.1 to Everest Group, Ltd. second quarter 2009 10-Q](https://www.sec.gov/Archives/edgar/data/1095073/000109507309000031/appendixb2008proxy.htm) | | |

| [removed: 10.13] [added: 10.24] | | | | | | [removed: [Credit Agreement,] [added: [Amendment of Credit Facility agreement,] dated May [removed: 26, 2016,] [added: 5, 2021] between Everest [removed: Group, Ltd., Everest] Reinsurance (Bermuda), Ltd. and [removed: Everest International Reinsurance, Ltd., certain lenders party thereto and] Wells Fargo Bank, N.A. [removed: as administrative agent,] providing [removed: for an $800.0] [added: up to $500.0] million [removed: four year senior] [added: of committed] credit facility, incorporated herein by reference to Exhibit [removed: 10.31] [added: 10.1] to Everest Group, Ltd. Form 10-Q filed on August [removed: 9, 2016. This new agreement replaces the June 22, 2012 four year, $800.0 million senior credit facility](https://www.sec.gov/Archives/edgar/data/1095073/000109507316000109/thirdamendcreditagree.htm)] [added: 5, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507321000025/exhibit101.htm)] | | |

| [removed: *10.14] [added: *10.20] | | | | | | [Employment agreement between Everest Global Services, [removed: Inc.,] [added: Inc.] and [removed: John P. Doucette, dated October 21, 2016,] [added: Mark Kociancic,] incorporated herein by reference to Exhibit 10.1 to Everest Group, Ltd. Form 8-K filed on October [removed: 26, 2016](https://www.sec.gov/Archives/edgar/data/1095073/000109507317000011/lloydsagreement2016.htm)] [added: 1, 2020](https://www.sec.gov/Archives/edgar/data/1095073/000109507320000039/ex101.htm)] | | |

| [removed: *10.15] [added: *10.13] | | | | | | [Employment agreement between Everest Global Services, Inc., and Sanjoy Mukherjee, dated January 3, 2017, incorporated herein by reference to Exhibit 10.1 to Everest Group, Ltd. Form 8-K filed on January 6, 2017](https://www.sec.gov/Archives/edgar/data/1095073/000109507317000002/mukherjeeagree2017.htm) | | |

| [removed: 10.16] [added: 10.14] | | | | | | [Bye-Law waiver agreement between Everest Group, Ltd., and BlackRock, Inc. dated December 1, 2017, incorporated herein by reference to [removed: exhibit] [added: Exhibit] 10.1 to the Everest Group, Ltd., Form 8-K filed on December 4, 2017](https://www.sec.gov/Archives/edgar/data/1095073/000109507317000056/group2017waiver.htm) | | |

| [removed: 10.17] [added: 10.15] | | | | | | [Amendment of Standby Letter of Credit, dated December 29, 2017, between Everest Reinsurance (Bermuda), Ltd. and Citibank Europe plc providing $250.0 million four year credit facility, incorporated herein by reference to exhibit 10.26 to the Everest Group, Ltd., Form 10-K filed on March 1, 2018](https://www.sec.gov/Archives/edgar/data/1095073/000109507318000008/citibankamendment2017.htm) | | |

| [removed: 10.18] [added: 10.16] | | | | | | [Amendment of Committed Facility Letter, dated December 10, 2018, between Everest Reinsurance (Bermuda), Ltd. and Citibank Europe plc providing $200.0 million annually, incorporated herein by reference to exhibit 10.34 to the Everest Group, Ltd., Form 10-K filed on March 1, 2019](https://www.sec.gov/Archives/edgar/data/1095073/000109507319000011/citibankamend2018.htm) | | |

| [removed: *10.19] [added: *10.17] | | | | | | [Employment agreement between Everest Group, Ltd. and Juan Andrade dated August 1, 2019, incorporated herein by reference to Exhibit 10.1 to Everest Group Ltd. Form 8-K filed on August 8, 2019.](https://www.sec.gov/Archives/edgar/data/1095073/000109507319000039/employagreejandrade.htm) | | |

| [removed: 10.20] [added: 10.18] | | | | | | [Amendment of Committed Facility Letter, dated December 31, 2019, between Everest Reinsurance (Bermuda), Ltd. and Citibank Europe plc providing $200.0 million annually, incorporated herein by reference to Exhibit 10.31 to the Everest Group, Ltd. Form 10-K filed on March 2, 2020](https://www.sec.gov/Archives/edgar/data/1095073/000109507320000006/exhibit1031.htm) | | |

| [removed: *10.21] [added: *10.19] | | | | | | [Everest Group, Ltd. 2020 Stock Incentive Plan for employees is incorporated herein by reference to Appendix A of the 2021 Proxy Statement filed on April 9, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507320000008/proxystatement2020v2.htm) | | |

| [removed: *10.22] [added: *10.21] | | | | | | [Employment agreement between Everest Global Services, Inc. and [removed: Mark Kociancic,] [added: James Williamson,] incorporated herein by reference to Exhibit [removed: 10.1] [added: 10.2] to Everest Group, Ltd. Form 8-K filed on October 1, [removed: 2020](https://www.sec.gov/Archives/edgar/data/1095073/000109507316000075/howieempagree2016.htm)] [added: 2020](https://www.sec.gov/Archives/edgar/data/1095073/000109507320000039/ex102.htm)] | | |

| [removed: *10.23] [added: *10.37] | | | | | | [removed: [Employment agreement] [added: [Amended and Restated Employment Agreement] between Everest Global Services, Inc. and James [removed: Williamson,] [added: Williamson dated April 26, 2024,] incorporated herein by reference to Exhibit [removed: 10.2] [added: 10.3] to Everest Group, Ltd. Form [removed: 8-K] [added: 10-Q] filed on [removed: October 1, 2020](https://www.sec.gov/Archives/edgar/data/1095073/000109507316000075/howieempagree2016.htm)] [added: May 3, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx103.htm)] | | |

| [removed: 10.24] [added: 10.22] | | | | | | [Amendment of Committed Facility Letter, dated December 9, 2020 between Everest Reinsurance (Bermuda), Ltd. and Citibank Europe plc providing $200.0 million annually, incorporated herein by reference to Exhibit 10.34 to Everest Group, Ltd. Form 10-K filed on March 1, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507321000006/exhibit1034.htm) | | |

| [removed: 10.25] [added: 10.23] | | | | | | [Credit facility agreement dated February 23, 3021 between Everest Reinsurance (Bermuda), Ltd. and Wells Fargo Bank, N.A. providing up to $50.0 million of committed credit facility, incorporated herein by reference to Exhibit 10.1 to Everest Group, Ltd. Form 10-Q filed on May 10, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507321000017/exhibit101.htm) | | |

| 10.26 | | | | | | [removed: [Amendment of Credit] [added: [Credit] Facility agreement, dated [removed: May 5,] [added: August 27,] 2021 between Everest Reinsurance (Bermuda), Ltd. and [removed: Wells Fargo Bank, N.A.] [added: Bayerische Landesbank] providing up to [removed: $500.0] [added: $200.0] million of committed credit facility, incorporated herein by reference to Exhibit [removed: 10.1] [added: 10.2] to Everest Group, Ltd. Form 10-Q filed on [removed: August 5, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507321000025/exhibit101.htm)] [added: November 4, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507321000035/exhibit102.htm)] | | |

| [removed: 10.27] [added: 10.25] | | | | | | [Credit Facility agreement, dated August 9, 2021 between Everest Reinsurance (Bermuda), Ltd. and Citibank Europe plc providing up to $230.0 million committed credit facility and $140.0 million of additional uncommitted credit facility, incorporated herein by reference to Exhibit 10.1 to Everest Group, Ltd. Form 10-Q filed on November 4, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507321000035/exhibit101.htm) | | |

| [removed: 10.28] [added: 10.27] | | | | | | [Credit Facility agreement, dated [removed: August 27,] [added: November 3,] 2021 between Everest Reinsurance (Bermuda), Ltd. and [removed: Bayerische Landesbank] [added: Barclays Bank Plc] providing up to $200.0 million of committed credit facility, incorporated herein by reference to Exhibit [removed: 10.2] [added: 10.40] to Everest Group, Ltd. Form [removed: 10-Q] [added: 10-K] filed on [removed: November 4, 2021](https://www.sec.gov/Archives/edgar/data/1095073/000109507321000035/exhibit102.htm)] [added: February 28, 2022](https://www.sec.gov/Archives/edgar/data/1095073/000109507322000005/exhibit1040.htm)] | | |

| [removed: 10.29] [added: 10.28] | | | | | | [Credit Facility agreement, dated November [removed: 3, 2021] [added: 21, 2022] between Everest Reinsurance (Bermuda), Ltd. and [removed: Barclays] [added: Nordea] Bank [removed: Plc] [added: ABP, New York Branch] providing up to $200.0 million of committed credit [added: facility and $100.0 million of additional uncommitted credit] facility, incorporated herein by reference to Exhibit [removed: 10.40] [added: 10.41] to Everest Group, Ltd. Form 10-K filed on February [removed: 28, 2022](https://www.sec.gov/Archives/edgar/data/1095073/000109507322000005/exhibit1040.htm)] [added: 24, 2023](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000007/exhibit1041.htm)] | | |

| [removed: 10.30] [added: 10.29] | | | | | | [removed: [Credit] [added: [Amendment of Credit] Facility agreement, dated [removed: November 21, 2022] [added: December 30, 2022,] between Everest Reinsurance (Bermuda), Ltd. and [removed: Nordea Bank ABP,] [added: Bayerische Landesbank,] New York [removed: Branch] [added: Branch,] providing up to [removed: $200.0 million of committed credit facility and $100.0] [added: $150.0] million of [removed: additional uncommitted] [added: committed, unsecured] credit facility, incorporated herein by reference to Exhibit [removed: 10.41] [added: 10.42] to Everest Group, Ltd. Form 10-K filed on February 24, [removed: 2023](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000007/exhibit1041.htm)] [added: 2023](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000007/exhibit1042.htm#a3122)] | | |

| [removed: 10.31] [added: 10.45] | | | | | | [Amendment of Credit Facility agreement, dated December [removed: 30, 2022,] [added: 20, 2024,] between Everest Reinsurance (Bermuda), Ltd. and Bayerische Landesbank, New York [removed: Branch, providing up to $150.0 million of committed, unsecured credit facility, incorporated] [added: Branch,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm)[incorporated] herein by reference to Exhibit [removed: 10.42 to] [added: 10.4](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm)[6](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm) [to] Everest Group, Ltd. Form 10-K filed on February [removed: 24, 2023](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000007/exhibit1042.htm#a3122)] [added: 27, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm)] | | |

| [removed: *10.32] [added: 10.30] | | | | | | [Employment agreement between Everest Global Services, Inc. and](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000024/re-20230331xexx101.htm) [Joseph V. Taranto](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000024/re-20230331xexx101.htm)[, incorporated herein by reference to Exhibit 10.1 to Everest Group, Ltd. Form 10-Q filed on May 4, 2023](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000024/re-20230331xexx101.htm) | | |

| [removed: *10.33] [added: *10.31] | | | | | | [Departure of Sanjoy Mukherjee, Executive Vice President, General Counsel and Secretary of Everest Group, Ltd. effective July 3, 2023, herein by reference to Exhibit 10.2 to Everest Group, Ltd. Form 10-Q filed on May 4, 2023](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000024/re-20230331xexx102.htm) | | |

| [removed: 10.34] [added: 10.32] | | | | | | [Standby Letter of Credit, dated August 18, 2023 between Everest Reinsurance (Bermuda), Ltd. and Lloyd’s Bank Corporate Markets Plc providing up to $250.0 million of unsecured letters of credit, incorporated herein by reference to Exhibit 10.3 to Everest Group, Ltd. Form 10-Q filed on November 1, 2023](https://www.sec.gov/Archives/edgar/data/1095073/000109507323000048/re-20230930xex103.htm) | | |

| [removed: 10.35] [added: 10.33] | | | | | | [Amended and restated standby letter of credit agreement between Everest Reinsurance (Bermuda), Ltd. and Lloyd’s Bank Corporate Markets Plc to add Everest Insurance (Ireland), dac (the new account party) as an account party with $15.0 million sublimit for the issuance of letters of [removed: credit,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1044.htm) [incorporated] [added: credit, incorporated] herein by reference to Exhibit 10.44 to Everest Group, [removed: L](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1044.htm)[td.] [added: Ltd.] Form 10-K [removed: fil](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1044.htm)[ed] [added: filed] on [removed: Fe](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1044.htm)[bruary 2](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1044.htm)[8](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1044.htm)[,] [added: February 28,] 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1044.htm) | | |

| [removed: *10.36] [added: *10.34] | | | | | | [Employment agreement made effective as of June 12, 2023, between Everest Global Services, Inc. and Ricardo A. [removed: Anzaldua,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1045.htm) [incorporated] [added: Anzaldua, incorporated] herein by reference to Exhibit [removed: 10.4](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1045.htm)[5](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1045.htm) [to] [added: 10.45 to] Everest Group, Ltd. Form 10-K filed on February 28, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx1045.htm) | | |

| [removed: *10.37] [added: *10.35] | | | | | | [Amendment to Employment Agreement between Everest Global Services, Inc., Everest Group, Ltd., Everest Reinsurance Holdings Inc. and Juan C. Andrade dated April 22, [removed: 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx101.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx101.htm) [incorporated] [added: 2024, incorporated] herein by reference to Exhibit 10.1 to Everest Group, Ltd. Form 10-Q filed on May 3, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx101.htm) | | |

| [removed: *10.38] [added: *10.36] | | | | | | [Amended and Restated Employment Agreement between Everest Global Services, Inc. and Mark Kociancic dated April 25, [removed: 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx102.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx102.htm) [incorporated] [added: 2024, incorporated] herein by reference to Exhibit 10.2 to Everest Group, Ltd. Form 10-Q filed on May 3, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx102.htm) | | |

| *10.39 | | | | | | [Amended and Restated Employment Agreement between Everest Global Services, Inc. and [removed: James Williamson] [added: Ricardo Anzaldua] dated April [removed: 26, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx103.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx103.htm) [incorporated] [added: 22, 2024, incorporated] herein by reference to Exhibit [removed: 10.3] [added: 10.5] to Everest Group, Ltd. Form 10-Q filed on May 3, [removed: 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx103.htm)] [added: 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx105.htm)] | | |

| [removed: *10.40] [added: *10.38] | | | | | | [Amended and Restated Employment Agreement between Everest National Insurance Company and Michael Karmilowicz dated March 24, [removed: 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm)[incorpo](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm)[r](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm)[a](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm)[ted] [added: 2024, incorporated] herein by reference to Exhibit 10.4 to Everest Group, Ltd. [removed: Form](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm) [10-Q] [added: Form 10-Q] filed on May 3, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx104.htm) | | |

| [removed: *10.41] [added: *10.40] | | | | | | [removed: [Amended and Restated Employment Agreement between Everest Global Services, Inc.] [added: [Everest Reinsurance Group, Ltd. Senior Executive Change of Control Plan, as amended] and [removed: Ricardo Anzaldua dated April 22, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx105.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx105.htm) [incorporated] [added: restated effective November 17, 2015, incorporated] herein by reference to Exhibit [removed: 10.5] [added: 10.6] to Everest Group, Ltd. Form 10-Q filed on May 3, [removed: 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-20240331xexx105.htm)] [added: 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-2024x03x31xchangeinco.htm)] | | |

| [removed: 10.42] [added: 97.1] | | | | | | [Everest [removed: Reinsurance] Group, Ltd. [removed: Senior Executive Change of Control Plan, as amended and restated effective November 17, 2015,] [added: Clawback Policy,] incorporated herein by reference to Exhibit [removed: 10.6] [added: 97.1] to Everest Group, Ltd. Form [removed: 10-Q] [added: 10-K] filed on [removed: May 3, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000027/eg-2024x03x31xchangeinco.htm)] [added: February 28, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/eg-20231231xexx971.htm)] | | |

| [removed: 10.43] [added: 10.41] | | | | | | [Amendment of Bilateral Letter of Credit Facility Agreement, dated June 2024, between Everest Reinsurance (Bermuda), Ltd. and Wells Fargo Bank [removed: N.A.,](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm) [incorporated] [added: N.A., incorporated] herein by reference to Exhibit [removed: 10.](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm)[5](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm) [to] [added: 10.5 to] Everest Group, Ltd. Form 10-Q filed [removed: on](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm) [August](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm)[2](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm)[,] [added: on August 2,] 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000037/eg-20240630xexx105.htm) | | |

| [removed: 10.44] [added: 10.43] | | | | | | [Amendment [removed: of](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm) [Credit] [added: of Credit] Facility agreement, [removed: dated](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm) [October](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm) [3](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[0](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[, 202](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[4](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm) [between] [added: dated October 30, 2024 between] Everest Reinsurance (Bermuda), Ltd. and Barclays Bank [removed: Plc](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm) [filed herewith](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)] [added: Plc,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm) [in](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[corporated her](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[e](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[in by reference to Exhibit 10.44 to Everest Group, Ltd. Form 10-K filed on February 27, 202](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)[5](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1044.htm)] | | |

| [removed: 10.45] [added: 10.44] | | | | | | [Standby Letter of Credit Facility Agreement, dated October 30, 2024 between [removed: Everest](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [International](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [Reinsurance](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm)[, Ltd.](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [and](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [Lloyds] [added: Everest International Reinsurance, Ltd. and Lloyds] Bank [removed: P](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm)[lc](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [providing] [added: Plc, providing] up [removed: to](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [£113 million](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [of] [added: to £113 million of] unsecured letters of [removed: credit,] [added: credit,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [incorporated herein by reference to Exhibit 10.4](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm)[5](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm) [to Everest Group, Ltd. Form 10-K] filed [removed: herewith](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm)] [added: on February 27, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1045.htm)] | | |

| 10.46 | | | | | | [removed: [Amendment] [added: [Standby Letter] of Credit Facility [removed: agreement,] [added: Agreement,] dated [removed: December](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm) [2](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm)[0, 202](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm)[4](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm)[,] [added: December 30, 2024] between Everest Reinsurance [removed: (Bermuda), Ltd.] [added: Company (Ireland), dac] and [removed: Bayerische Landesbank,] [added: Commerzbank AG,] New York [removed: Branch,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm) [filed herewith](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1046.htm)] [added: Branch providing up to €75 million of unsecured letters of credit,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [incorporated herein by reference to Exhibit 10.4](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[7](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [to Everest Group, Ltd. Form 10-K filed on February 27, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)] | | |

| 14.1 | | | | | | [Ethics Guidelines and Index to Compliance [removed: Policies](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/ethics-guidelinesxandxin.htm)[,] [added: Policies,] incorporated herein by reference to Exhibit 14.1 to Everest Group, Ltd. Form 10-K filed on February 28, 2024](https://www.sec.gov/Archives/edgar/data/1095073/000109507324000009/ethics-guidelinesxandxin.htm) | | |

| 21.1 | | | | | | [Subsidiaries of the registrant, filed [removed: herewith](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx211.htm)] [added: herewith](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx211.htm)] | | |

| [Schedules](#i4f361a54d47844889d56f3b13bc51360_385) | | | | | |

| 4.6 | | | | | | [De](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt)[scription of](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt) [Registrant's](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt) [](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt)[C](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt)[ommon Stock as](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt) [](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt)[incorporated herein by reference to Form 8-A filed with the Commission on March 8, 2000 under the Exchange Act](https://www.sec.gov/Archives/edgar/data/1095073/000090256100000153/0000902561-00-000153.txt) | | |

| *10.42 | | | | | | [Letter Agreement between Everest Global Services, Inc. and James Williamson, dated January 13, 2025, incorporated herein by reference to Exhibit 10.1 of the Everest Group, Ltd. Form 8-K filed with the SEC on January 14, 2025.](https://www.sec.gov/ix?doc=/Archives/edgar/data/1095073/000109507325000004/everestre-20250113.htm) | | |

| *10.47 | | | | | | [Employment agreement between Everest Global Services, Inc., Everest Group, Ltd. and James Williamson, dated March 26, 2025, incorporated herein by reference to Exhibit 10.1 of the Everest Group, Ltd. Form 8-K/A filed with the SEC on March 28, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001095073/000109507325000027/everestre-20250122.htm#i303c38b0c85d4b3db5dea521091f38bb_89) | | |

| 10.48 | | | | | | [Amendment to Bermuda Re Wells Fargo Bilateral Letter of Credit Facility, effective June 9, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000061/eg-20250630xexx101.htm)[, incorporated herein by reference to Exhibit 10.1 to Everest Group, Ltd. Form 10-Q filed on August 1, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000061/eg-20250630xexx101.htm) | | |

| 10.50 | | | | | | [Amendment of Standby Letter of Credit Facility, dated October 20, 2025 between Everest International Reinsurance Ltd. and Lloyds Bank Plc](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1050.htm) | | |

| 10.51 | | | | | | [Amendment of Committed Facility Letter, dated December 23, 2025, between Everest Reinsurance (Bermuda), Ltd. and Citibank Europe plc](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-202521310xexx1051.htm) | | |

| *10.52 | | | | | | [S](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[eparation,](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [T](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[ransition](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[S](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[ervices](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [and](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [G](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[eneral](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [R](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[elease agreement](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [between Everest Global Services, Inc. and](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [Mark Kocianci](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[c](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[, dated](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [November](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) [25](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm)[, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1052.htm) | | |

| *10.53 | | | | | | [Employment](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm) [A](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm)[greement between Everest Global Services, Inc.](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm) [and](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm) [Elias Habayeb](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm)[, dated](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm) [October](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm)[22](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm)[, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1053.htm) | | |

| *10.54 | | | | | | [Employment](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm) [A](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm)[greement between Everest Global Services, Inc. and](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm) [Anthony Vidovich](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm)[, dated](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm) [September](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm) [2](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm)[5](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm)[, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20251231xexx1054.htm) | | |

| *10.55 | | | | | | [Employment](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm) [A](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm)[greement](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm) [A](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm)[ddendum](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm) [between Everest Global Services, Inc. and Anthony Vidovich, dated](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm) [November](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm)[11](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm)[, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1055.htm) | | |

| *10.56 | | | | | | [Employment](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm) [A](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm)[greement between Everest](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm) [Reinsurance Company](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm) [and](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm) [Jill Beggs](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm)[, dated](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm) [O](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm)[ctober](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm)[13](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm)[, 202](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm)[1](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1056.htm) | | |

| 10.57 | | | | | | [Adverse Development Reinsurance Agreement, dated as of October 26, 2025, by and between Everest Reinsurance Company, Everest Reinsurance (Bermuda) Ltd. and State National Insurance Company, Inc.](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm)[, incorporated herein by reference to Exhibit](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm) [10](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm)[.1 to Everest](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm) [Group, Ltd](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm)[. Form 8-K filed on October](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm) [2](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm)[7, 202](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm)[5](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit101.htm) | | |

| 10.58 | | | | | | [Adverse Development Reinsurance Agreement, dated as of October 26, 2025, by and between](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm) [Everest Group](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm)[,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm) [Ltd.](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm) [Everest Reinsurance Company, Everest Reinsurance (Bermuda) Ltd. and MS Transverse Insurance Company](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm)[, incorporated herein by reference to Exhibit 10.](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm)[2](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm) [to Everest Group, Ltd. Form 8-K filed on October 27, 2025](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000079/exhibit102.htm) | | |

| 10.59 | | | | | | [R](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1059.htm)[OW](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1059.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1059.htm)[Master Transactio](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1059.htm)[n Agreement, dated as of October 26, 2025, by and between Everest](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1059.htm) [Group, Ltd. and American International Group, Inc.](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1059.htm) | | |

| 10.60 | | | | | | [E](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1060.htm)[U](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1060.htm) [Master Transaction Agreement, dated as of October 26, 2025, by and between Everest Group, Ltd. and American International Group, Inc.](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1060.htm) | | |

| *10.61 | | | | | | [Everest Group, Ltd. Director Com](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1061.htm)[pensation Policy](https://www.sec.gov/Archives/edgar/data/1095073/000109507326000006/eg-20252131xexx1061.htm) | | |

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| /S/ LAURA HAY | | | | | | Director | | | | | | February 26, 2026 | | |

| Laura Hay | | | | | | | | | | | | | | |

| /S/ JOHN HOWARD | | | | | | Director | | | | | | February 26, 2026 | | |

| John Howard | | | | | | | | | | | | | | |

| /S/ ALLAN LEVINE | | | | | | Director | | | | | | February 26, 2026 | | |

| Allan Levine | | | | | | | | | | | | | | |

The financial statements and schedules listed in the accompanying Index to Financial Statements and Schedules on page F-1 are filed as part of this report.

Exhibits.

| 10.47 | | | | | | [Standby Letter of Credit](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [Facility Agreement](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[, dated](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [December](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[30](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[, 202](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[4](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [between Everest Reinsurance](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [Company](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [(](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[Ireland](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[),](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [dac](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [and](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [Commerzbank AG,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [New York Branch](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [providing up to](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[€75 million](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm)[of unsecured letters of credit,](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) [filed herewith](https://www.sec.gov/Archives/edgar/data/1095073/000109507325000015/eg-20241231xexx1047.htm) | | |

| /S/ JOSEPH V. TARANTO | | | | | | Chairman | | | | | | February 27, 2025 | | |

| Joseph V. Taranto | | | | | | | | | | | | | | |

| [Schedules](#i942357a786a946f3b358740450864287_355) | | | | | |

February 27, 2025

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| Proceeds from issuance of senior notes | | | — | | | | | | — | | | | | | — | | |

| Cost of debt repurchase | | | — | | | | | | — | | | | | | (6) | | |

| to fixed maturity securities, held to maturity at amortized cost net of credit allowances | | | $ | — | | | | | $ | — | | | | | $ | 722 | |

Effective July 10, 2023, the Company changed Group’s name to Everest Group, Ltd. from Everest Re Group, Ltd. and started trading under a new ticker symbol (NYSE: EG) to reflect the evolution, global growth and diversification strategy of the Company.

(Brazil), Mt.

See ITEM 7, “Management’s Discussion and Analysis of Critical Accounting Estimates”.

Generally, a

characteristics of each security.

During 2023, the Company refined its premium estimation methodology for its risk attaching reinsurance contracts within its Reinsurance segment to continue to recognize gross written premium over the term of the treaty, albeit over a different pattern than what was previously used.

The refined estimate resulted in an increase of gross written premium for the twelve months ended December 31, 2023, and has further aligned the estimation methodology across the reinsurance division globally.

This change had no impact on the total written premium to be recognized over the term of the treaty.

There was no impact on net earned premium and therefore, no impact on income from continuing operations, net income or any related per-share amounts.

There were no anti-diluted options outstanding as of December 31, 2023 or 2022.

Additionally, 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 reportable 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 due to changes in management beginning in the fourth quarter of 2023.

On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update No. 2023-07, *Segment Reporting—Improvements to Reportable Segment Disclosures*, which requires enhanced disclosures related to a public entity’s reportable segments.

Adoption of the standard did not have a material impact on the Company’s consolidated financial statements.

The Company is currently evaluating the effect the updated guidance will have on the Company's financial statement disclosures.

| | | | At December 31, 2023 | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Corporate securities | | | 7,587 | | | | | | (47) | | | | | | 135 | | | | | | (322) | | | | | | 7,353 | | |

| Commercial | | | 1,091 | | | | | | — | | | | | | 1 | | | | | | (92) | | | | | | 1,000 | | |

| Agency residential | | | 4,869 | | | | | | — | | | | | | 55 | | | | | | (229) | | | | | | 4,695 | | |

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| Commercial | | | 965 | | | | | | 900 | | | | | | 1,091 | | | | | | 1,000 | | |

| Corporate securities | | | 1,019 | | | | | | (58) | | | | | | 2,780 | | | | | | (263) | | | | | | 3,799 | | | | | | (321) | | |

| Asset-backed securities | | | 196 | | | | | | (2) | | | | | | 2,014 | | | | | | (49) | | | | | | 2,210 | | | | | | (51) | | |

| Commercial | | | 181 | | | | | | (19) | | | | | | 742 | | | | | | (73) | | | | | | 923 | | | | | | (92) | | |

| Agency residential | | | 423 | | | | | | (4) | | | | | | 2,126 | | | | | | (225) | | | | | | 2,549 | | | | | | (229) | | |

| Foreign government securities | | | 172 | | | | | | (7) | | | | | | 985 | | | | | | (101) | | | | | | 1,156 | | | | | | (108) | | |

| Foreign corporate securities | | | 324 | | | | | | (6) | | | | | | 2,726 | | | | | | (265) | | | | | | 3,050 | | | | | | (271) | | |

| Total | | | $ | 2,564 | | | | | $ | (101) | | | | | $ | 12,222 | | | | | $ | (1,035) | | | | | $ | 14,787 | | | | | $ | (1,136) | |