Everest Re Gp Stock Price, News & Analysis

Everest (NYSE: EG) announced that Elias Habayeb will become Executive Vice President and Group Chief Financial Officer, effective on or about May 1, 2026. He will report to President and CEO Jim Williamson and join the Executive Leadership Team. Habayeb succeeds Mark Kociancic, who will retire after the Q1 reporting cycle and remain as a special advisor through the transition.

Habayeb has over 30 years of finance experience, including serving as CFO of Corebridge Financial and prior CFO roles at AIG divisions; he led the IPO that established Corebridge as an independent company.

Everest (NYSE: EG) appointed Gary Haase as Executive Vice President and CEO of Legacy Operations, effective December 1, 2025. Haase will report to President and CEO Jim Williamson and join the executive leadership team to lead strategy and execution for Everest’s legacy insurance portfolios.

The appointment follows Everest’s $2 billion renewal rights sale of its commercial retail insurance business to AIG and is intended to support capital efficiency, operational discipline, and long-term value creation for shareholders.

AIG (NYSE: AIG) entered definitive agreements to acquire the renewal rights for a majority of Everest Group (NYSE: EG) retail insurance portfolios worldwide, representing approximately $2 billion of aggregate premium.

Everest will retain exposure to all liabilities and continue to administer claims. AIG said it expects the renewal-rights transactions to drive incremental growth in its general insurance portfolio and to support EPS and return on equity expansion while writing these policies within its existing balance sheet with no incremental capital required.

AIG expects to begin writing policies for existing Everest clients on January 1, 2026 outside the European Union, and to expand to Everest EU portfolios in Q1 2026 subject to regulatory approvals. Terms were not disclosed. Financial and legal advisors for the parties were named.

Everest Group (NYSE: EG) reported Q3 2025 results on October 27, 2025, with net income $255M ($6.09/diluted) and net operating income $316M ($7.54/diluted).

Key strategic actions: sale of renewal rights for its retail commercial insurance renewal rights to AIG (estimated ~$2B GWP) and an $1.2B adverse development cover (ADC) effective Oct 1, 2025, covering $5.4B of North America Insurance reserves. Group combined ratio was 103.4% (attritional 88.8% ex profit commissions); net unfavorable prior year reserve development was ~$478M. Everest expects a pre-tax non-operating charge of $250M–$350M related to the renewal-rights transaction.

Everest (NYSE: EG) announced definitive agreements to sell the renewal rights for its Global Retail Commercial Insurance business to AIG on October 27, 2025. The rights cover Everest’s U.S., U.K., Europe, and Asia Pacific commercial retail businesses, totaling an estimated $2 billion of aggregate gross premiums written. Everest said the transactions will sharpen its focus on core global reinsurance and its Global Wholesale and Specialty Insurance businesses and will release meaningful capital over time. Completion is subject to regulatory approvals and customary closing conditions.

Everest (NYSE: EG) announced a $1.2 billion adverse development reinsurance cover effective October 1, 2025 for substantially all North America Insurance portfolio accident years 2024 and prior. The agreement, supported by Longtail Re (Stone Ridge affiliate) and structured by Gallagher Re, provides two layers in excess of $5.4 billion of subject liability reserves: a $700 million first layer (with $1.25 billion of in‑the‑money reserves transferred on closing) and a $500 million second layer (with ~$122 million consideration to be reported as an incurred loss in Q4 2025). Everest retains claim handling authority and will record the agreement as retroactive reinsurance.

Everest (NYSE: EG) appointed Anthony Vidovich as Executive Vice President and General Counsel, effective on or before January 5, 2026. Mr. Vidovich will report to Jim Williamson and join the company’s Executive Leadership Team, succeeding Ricardo Anzaldua, who will retire following a transition period. Vidovich brings nearly 30 years of legal and insurance experience, most recently serving as Global Head of Insurance Legal at AIG and previously holding senior roles at XL Group/XL Catlin and The Hartford.

This leadership change is positioned to support Everest’s long-term strategy and regulatory/legal oversight.

Everest Group (NYSE: EG), a global underwriting leader in property, casualty, and specialty reinsurance and insurance solutions, announced that EVP and General Counsel Ricardo Anzaldua plans to retire in the coming months. The company has initiated a search for his successor, while Anzaldua will continue serving to ensure a smooth transition.

Since joining Everest in June 2023, Anzaldua has been instrumental in guiding the company through various corporate transactions and supporting its international business expansion. CEO Jim Williamson praised Anzaldua's expertise across regulatory, governance, and legal matters in contributing to Everest's growth and transformation.