Everest Q4 Earnings Miss, Revenues Top Estimates Amid Premiums Decline

Everest Group reported Q4 2025 operating income of $13.26 per share, missing estimates by 0.8%. Total operating revenues declined 4.6% YoY to $4.4 billion, while gross written premiums fell 8.6% YoY to $4.3 billion. Net investment income rose 18.8% YoY to $562 million, driven by a larger asset base and strong alternative investment returns. The combined ratio improved 20 basis points YoY to 98.4.