Everest : Q1 2024

Everest Group, Ltd.

Investor Financial Supplement

First Quarter 2024

EVEREST GROUP, LTD.

Financial Supplement Table of Contents

	Business Description	2-3
I.	Financial Highlights	4

1. Income Statements

a.	Consolidated Statement of Operations	5
b.	Consolidated Segment Data	6
c.	Reinsurance Segment Data	7
d.	Gross Premiums Written by Segment by Line of Business - Reinsurance	8
e.	Insurance Segment Data	9
f.	Gross Premiums Written by Segment by Line of Business - Insurance	10
g.	Net Investment Income	11

1. Balance Sheets

	a.	Consolidated Balance Sheets	12
	b.	Cash and Invested Assets:
		• Cash and Invested Assets Portfolio	13
		• Cash and Invested Assets Composition	14
		• Mortgage-Backed and Asset-Backed Securities Composition	15
IV.	Net Probable Maximum Losses to Certain Peak Industry Catastrophe Exposures	16
V.	Return on Equity	17
VI.	Earnings Per Common Share	18
VII.	Bermuda Corporate Income Tax ("CIT") Impact	19

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Business Description

REINSURANCE SEGMENT

Our reinsurance segment writes worldwide property and casualty reinsurance and specialty lines of business on a treaty, facultative and large corporate risk basis.

Contracts can be written on a proportional ("pro-rata") or non-proportional ("excess of loss") basis. Pro-Rata contracts indemnify the reinsured for a percentage of losses in exchange for the same percentage of premium charged for the covered insurance contracts issued by the ceding company. Excess of loss ("XOL"), including stop loss, contracts indemnify the reinsured against a portion of losses related to specific claim event(s), generally subject to a deductible and a limit of coverage. Premiums collected for XOL contracts are not directly proportional to premiums collected by the reinsured.

Property Pro Rata	Predominantly contracts providing coverage to cedents for property damage and related losses, which may include
	business interruption and other non-property losses, resulting from natural or man-made perils arising from their
	underlying portfolio of policies at an agreed upon percentage for both premium and loss.
Property Non-Cat XOL	Predominantly contracts providing coverage to cedents for a portion of property damage and related losses, which may
	include business interruption and other non-property losses, resulting from natural or man-made perils in excess of an
	agreed upon deductible up to a stated limit.
Property Cat XOL	Predominantly contracts providing coverage to cedents for a portion of property damage and related losses, which may
	include business interruption and other non-property losses, resulting from catastrophic losses, in excess of an agreed
	upon deductible up to a stated limit. The main perils covered include hurricane, earthquake, flood, convective storm and
	fire.
Casualty Pro Rata	Predominantly contracts providing coverage to cedents for losses arising from, but not limited to, general liability,
	professional indemnity, product liability, workers' compensation, employers liability, aviation and auto liability from their
	underlying portfolio of policies at an agreed upon percentage for both premium and loss.
Casualty XOL	Predominantly contracts providing coverage to cedents for losses arising from, but not limited to, general liability,
	professional indemnity, product liability, workers' compensation, aviation and auto liability from their underlying portfolio
	of policies in excess of an agreed upon deductible up to a stated limit.
Financial Lines	Predominantly contracts providing coverage to cedents for losses arising from political risk, credit, surety, mortgage and
	alternative risk lines of business on both a pro rata and excess of loss basis.

2

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Business Description

INSURANCE SEGMENT

Our insurance segment offers property and casualty insurance products on a worldwide basis. The following are the lines of business in our insurance segment:

Accident & Health	Predominantly includes policies covering Participant Accident, Short-Term Medical, and Medical Stop-Loss protection for
	employers with Self-funded medical plans.
Specialty Casualty	Predominantly includes policies covering General Liability (Premises/Operations and Products), Auto Liability, and
	Umbrella/Excess Liability.
Other Specialty	Predominantly includes policies covering specialty areas including but not limited to Surety, Trade Credit & Political Risk,
	Transactional Liability, Energy & Construction, and Aviation.
Professional Liability	Predominantly includes policies covering Directors & Officers Liability, Errors & Omissions, Cyber Liability, and other
	ancillary financial lines products.
Property / Short tail	Predominantly includes policies covering Property, Inland Marine, and other short-tail lines.
Workers Compensation	Predominantly includes policies covering Workers Compensation including both guaranteed cost and loss sensitive
	product offerings.

3

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Financial Highlights (Dollars in millions, except per share amounts)

					Year-to-Date															Quarter-to-Date
		March 31,			March 31,				December 31,			March 31,		December 31,		September 30,			June 30,		March 31,		December 31,		September 30,			June 30,
HIGHLIGHTS:		2024			2023		Change			2023			2024			2023			2023			2023			2023			2022			2022			2022
REVENUE
Gross written premiums	$	4,411	$	3,743	17.9%	$	16,637		$	4,411	$	4,323	$	4,391	$	4,180		$	3,743	$	3,639	$	3,680	$	3,447
Reinsurance		3,175			2,620	21.2%			11,460			3,175			2,894			3,198			2,747			2,620			2,360			2,531			2,184
Insurance		1,236			1,122	10.1%			5,177			1,236			1,428			1,193			1,433			1,122			1,278			1,148			1,263
Net written Premiums		3,900			3,329	17.1%			14,730			3,900			3,861			3,866			3,674			3,329			3,188			3,323			3,021
Reinsurance		2,942			2,438	20.7%			10,802			2,942			2,754			2,989			2,621			2,438			2,301			2,442			2,105
Insurance		958			891	7.5%			3,929			958			1,107			878			1,053			891			887			881			917
Net premiums earned		3,652			3,100	17.8%			13,443			3,652			3,578			3,513			3,251			3,100			3,012			3,067			2,916
Reinsurance		2,728			2,226	22.6%			9,799			2,728			2,616			2,593			2,364			2,226			2,194			2,227			2,122
Insurance		923			874	5.6%			3,644			923			962			920			888			874			818			841			794
FINANCIAL RATIOS:
Current year		58.9%			59.7%	(0.8)			59.2%			58.9%			58.9%			58.9%			59.5%			59.7%			59.6%			58.1%			61.4%
Prior year		-%			-%		-			-%			-%			-0.1%			-%			-%		-%			-%			-%			-%
Catastrophes		2.3%			3.7%		(1.4)			3.5%			2.3%			4.3%			5.0%			0.8%			3.7%			0.5%			27.4%			2.9%
Total loss ratio		61.3%			63.4%	(2.1)			62.7%			61.3%			63.0%			63.9%			60.3%			63.4%			60.1%			85.5%			64.3%
Commission and brokerage ratio		21.4%			21.3%	0.1			22.0%			21.4%			23.8%			21.4%			21.1%			21.3%			21.6%			20.9%			21.6%
Other underwriting expenses		6.1%			6.4%	(0.3)			6.3%			6.1%			6.3%			6.1%			6.3%			6.4%			6.0%			5.5%			5.8%
Combined ratio		88.8%			91.2%	(2.4)			90.9%			88.8%			93.2%			91.4%			87.7%			91.2%			87.8%			112.0%			91.8%
Attritional Ratios (5)
Attritional loss ratio		58.9%			59.8%	(0.9)			59.3%			58.9%			59.0%			59.0%			59.5%			59.8%			59.6%			60.3%			59.9%
Attritional combined ratio (6)		86.5%			87.6%	(1.2)			87.6%			86.5%			89.3%			86.6%			86.8%			87.6%			87.3%			87.7%			87.3%
AFTER-TAX EARNINGS PER SHARE DATA:
Operating income (loss) (1)		709			443	60.0%			2,776			709			1,093			613			627			443			478			(205)			386
Per basic common share		16.32			11.31	44.3%			66.39			16.32			25.18			14.14			15.21			11.31			12.21			(5.28)			9.79
Per diluted common share		16.32			11.31	44.3%			66.39			16.32			25.18			14.14			15.21			11.31			12.21			(5.28)			9.79
Net income (loss)		733			365	100.7%			2,517			733			804			678			670			365			496			(319)			123
Per basic common share		16.87			9.31	81.2%			60.19			16.87			18.53			15.63			16.26			9.31			12.66			(8.22)			3.11
Per diluted common share		16.87			9.31	81.2%			60.19			16.87			18.53			15.63			16.26			9.31			12.66			(8.22)			3.11
Weighted average common shares outstanding
Basic		42.9			38.7	11.0%			41.3			42.9			42.9			42.9			40.7			38.7			38.7			38.8			38.9
Diluted		42.9			38.7	11.0%			41.3			42.9			42.9			42.9			40.7			38.7			38.7			38.8			38.9
SHAREHOLDERS' RETURN
After-tax operating income (loss) return on average equity (annualized) (1)		20.0%			17.2%	16.1%			23.1%			20.0%			32.4%			19.2%			21.8%			17.2%			19.4%			-8.3%			15.3%
Net income (loss) return on average equity (annualized)		20.6%			14.2%	45.6%			20.9%			20.6%			23.8%			21.2%			23.3%			14.2%			20.1%			-12.9%			4.8%
Total Shareholder Return (TSR) (2)		18.1%			14.1%	28.2%			26.5%
Total Shareholders' equity		13,628			9,014	51.2%			13,202			13,628			13,202			11,226			10,902			9,014			8,441			7,649			8,853
Book value per common share outstanding		313.55			229.49	36.6%			304.29			313.55			304.29			258.71			251.17			229.49			215.54			195.27			224.59
Adjusted book value per common share outstanding excluding ("URAD") (3)		333.70			266.64	25.1%			320.95			333.70			320.95			301.76			288.64			266.64			259.18			245.29			257.27
INVESTMENT DATA:
Total assets		50,937			41,839	21.7%			49,399			50,937			49,399			46,318			44,668			41,839			39,966			38,144			37,908
Total investments and cash		38,148			31,435	21.4%			37,142			38,148			37,142			34,635			33,550			31,435			29,872			28,516			28,723
Pre-tax investment income		457			260	75.9%			1,434			457			411			406			357			260			210			151			226
Net gains (losses) on investments (pre-tax)		(7)			5	-236.2%			(276)			(7)			(255)			(31)			5			5			64			(129)			(236)
Annualized return on invested assets (4)		4.7%			3.3%	41.8%			3.3%			4.7%			1.7%			4.2%			4.2%			3.3%			3.5%			0.3%			-0.1%
Book yield of fixed maturities		4.7%			3.8%	23.6%			4.7%			4.7%			4.7%			4.2%			3.9%			3.8%			3.5%			3.2%			2.8%
CASH FLOW INFORMATION:
Cash flow provided by operations		1,102			1,064	3.6%			4,553			1,102			1,017			1,378			1,094			1,064			1,015			1,118			715
Paid losses, net		1,502			1,325	13.4%			6,110			1,502			1,658			1,630			1,497			1,325			1,325			1,173			1,236
Paid cats, net		229			198	15.6%			858			229			207			193			260			198			143			157			181
Taxes paid (recovered)		16			2	724.5%			196			16			11			112			71			2			5			66			98

(Some amounts may not reconcile due to rounding.) See Page 5 for footnotes

4

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Consolidated Statement of Operations

(Dollars in millions)

				Year-to-Date
		March 31,		March 31,	December 31,
		2024			2023			2023
REVENUES:	$	3,652	$	3,100		$	13,443
Net premiums earned
Net investment income		457			260			1,434
Total net gains (losses) on investments		(7)			5			(276)
Other income (expense)		31			(79)			(14)
Total revenues		4,133			3,286			14,587
CLAIMS AND EXPENSES:		2,237			1,966			8,427
Incurred losses and loss adjustment expenses
Commission, brokerage, taxes and fees		782			661			2,952
Other underwriting expenses		224			200			846
Corporate expenses		22			19			73
Interest, fees and bond issue cost amortization expense		37			32			134
Total claims and expenses		3,302			2,878			12,432
INCOME (LOSS) BEFORE TAXES		832			408			2,154
Income tax expense (benefit)		99			43			(363)
NET INCOME (LOSS)		733			365			2,517
(Some amounts may not reconcile due to rounding.)

										Quarter-to-Date
	March 31,		December 31,		September 30,			June 30,	March 31,		December 31,		September 30,			June 30,
	2024			2023			2023			2023			2023			2022			2022			2022
$	3,652	$	3,578	$	3,513	$	3,251		$	3,100	$	3,012	$	3,067	$	2,916
	457			411			406			357			260			210			151			226
	(7)			(255)			(31)			5			5			64			(129)			(236)
	31			(75)			103			38			(79)			(30)			(16)			(71)
	4,133			3,659			3,991			3,650			3,286			3,256			3,073			2,835
	2,237			2,254			2,246			1,960			1,966			1,811			2,623			1,876
	782			853			752			686			661			651			641			630
	224			226			215			205			200			182			169			170
	22			18			19			17			19			16			16			15
	37			36			34			33			32			27			25			24
	3,302			3,387			3,266			2,901			2,878			2,687			3,474			2,715
	832			272			725			750			408			568			(401)			119
	99			(532)			47			80			43			72			(82)			(4)
	733			804			678			670			365			496			(319)			123

1. The Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating income (loss) consists of net income (loss) excluding after-tax net gains (losses) on investments and after-tax net foreign exchange income (expense). Although net gains (losses) on investments and net foreign exchange income (expense) are an integral part of the Company's insurance operations, the determination of net gains (losses) on investments and net foreign exchange income (expense) is independent of the insurance underwriting process. The Company believes that the level of net gains (losses) on investments and net foreign exchange income (expense) for any particular period is not indicative of the performance of the underlying business in that particular period. Providing only a GAAP presentation of net income (loss) makes it more difficult for users of the financial information to evaluate the Company's success or failure in its basic business, and may lead to incorrect or misleading assumptions and conclusions. The Company understands that the equity analysts who follow the Company focus on after-tax operating income (loss) in their analyses for the reasons discussed above. The Company provides after-tax operating income (loss) to investors so that they have what management believes to be a useful supplement to GAAP information concerning the Company's performance.
2. Total Shareholder Return ("TSR") is defined as annual growth in Book Value Per Common Share Outstanding (excluding Net Unrealized Depreciation (Appreciation) of Fixed Maturity, available for sale Investments) plus Dividends Per Share.
3. Adjusted book value per share is defined as Book value per common share outstanding excluding net unrealized appreciation/depreciation of fixed maturity, available for sale investments ("URAD").
4. Annualized return on invested assets includes net investment income and net gains (losses) on investments, and is based on average total investments and cash, excluding unrealized gains (losses) on fixed maturities, available for sale.
5. Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, prior year development, COVID-19 losses and losses from the Russia/Ukraine war.
6. The attritional combined ratio for quarter and year ended December 31, 2023 included approximately $94m of profit commission related to loss reserves releases. Excluding this profit commission, the Group's attritional combined ratio would have been 86.7% and 86.9% for the quarter and year ended December 31, 2023, respectively. Excluding this profit commission, the Reinsurance Segment's attritional combined ratio would have been 85.1% for the quarter and year ended December 31, 2023, respectively.

5

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Consolidated Segment Data

(Dollars in millions)

REVENUES:

Gross written premiums

Net written premiums

Net premiums earned

UNDERWRITING CLAIMS AND EXPENSES: Incurred losses and LAE

Current year Prior year Catastrophes

Incurred losses and loss adjustment expenses Commission, brokerage, taxes and fees Other underwriting expenses

UNDERWRITING INCOME (LOSS)

Loss Ratio:

Current year

Prior year

Catastrophe

Total loss ratio

Commission and brokerage

Other underwriting expenses

Combined ratio

Attritional Ratios (5)

Attritional loss ratio

Attritional combined ratio (6)

Net CAT reinstatement premiums earned

(Some amounts may not reconcile due to rounding.)

			Year-to-Date														Quarter-to-Date
	March 31,			March 31,	December 31,			March 31,		December 31,		September 30,			June 30,		March 31,		December 31,		September 30,			June30,
	2024			2023			2023			2024			2023			2023			2023			2023			2022			2022			2022
$	4,411	$	3,743		$	16,637		$	4,411	$	4,323	$	4,391	$	4,180		$	3,743	$	3,639	$	3,680	$	3,447
	3,900			3,329			14,730			3,900			3,861			3,866			3,674			3,329			3,188			3,323			3,021
$	3,652	$	3,100		$	13,443		$	3,652	$	3,578	$	3,513	$	3,251		$	3,100	$	3,012	$	3,067	$	2,916
	2,152			1,851			7,963			2,152			2,107			2,071			1,933			1,851			1,796			1,783			1,792
	-			-		(5)			-			(5)			-			-		-			-			-			(1)
	85			115			470			85			152			175			27			115			15			840			85
	2,237			1,966			8,427			2,237			2,254			2,246			1,960			1,966			1,811			2,623			1,876
	782			661			2,952			782			853			752			686			661			651			641			630
	224			200			846			224			226			215			205			200			182			169			170
	409			273			1,219			409			245			301			401			273			368			(367)			240
	58.9%			59.7%			59.2%			58.9%			58.9%			58.9%			59.5%			59.7%			59.6%			58.1%			61.4%
	-%			-%		-%			-%			-0.1%			-%			-%		-%			-%			-%			-%
	2.3%			3.7%			3.5%			2.3%			4.3%			5.0%			0.8%			3.7%			0.5%			27.4%			2.9%
	61.3%			63.4%			62.7%			61.3%			63.0%			63.9%			60.3%			63.4%			60.1%			85.5%			64.3%
	21.4%			21.3%			22.0%			21.4%			23.8%			21.4%			21.1%			21.3%			21.6%			20.9%			21.6%
	6.1%			6.4%			6.3%			6.1%			6.3%			6.1%			6.3%			6.4%			6.0%			5.5%			5.8%
	88.8%			91.2%			90.9%			88.8%			93.2%			91.4%			87.7%			91.2%			87.8%			112.0%			91.8%
	58.9%			59.8%			59.3%			58.9%			59.0%			59.0%			59.5%			59.8%			59.6%			60.3%			59.9%
	86.5%			87.6%			87.6%			86.5%			89.3%			86.6%			86.8%			87.6%			87.3%			87.7%			87.3%
	-			5			19			-			9			5			-		5			-			110			-

1. Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, prior year development, COVID-19 losses and losses from the Russia/Ukraine war.
2. The attritional combined ratio for quarter and year ended December 31, 2023 included approximately $94m of profit commission related to loss reserves releases. Excluding this profit commission, the Group's attritional combined ratio would have been 86.7% and 86.9% for the quarter and year ended December 31, 2023, respectively.

6

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Reinsurance Segment Data

(Dollars in millions)

REVENUES:

Gross written premiums

Net written premiums

Net premiums earned

UNDERWRITING CLAIMS AND EXPENSES: Incurred losses and LAE

Current year Prior year Catastrophes

Total incurred losses and LAE Commission, brokerage, taxes and fees Other underwriting expenses

UNDERWRITING INCOME (LOSS)

KEY RATIOS

Loss Ratio:

Current year

Prior year

Catastrophe

Total Loss Ratio

Commission and brokerage

Other underwriting expenses

Combined ratio

Attritional Ratios (5)

Attritional loss ratio

Attritional combined ratio (6)

Year-to-Date

	March 31,			March 31,		December 31,
	2024			2023			2023
$	3,175	$	2,620	$	11,460
	2,942			2,438			10,802
	2,728	$	2,226	$	9,799
	1,561			1,288			5,644
	-			-			(397)
	80			113			449
	1,641			1,401			5,696
	671			556			2,520
	71			63			255
$	345	$	205	$	1,328
	57.2%			57.9%			57.6%
	-%			-%			-4.1%
	2.9%			5.1%			4.6%
	60.2%			63.0%			58.1%
	24.6%			25.0%			25.7%
	2.6%			2.8%			2.6%
	87.3%			90.8%			86.4%
	57.2%			58.0%			57.7%
	84.4%			85.9%			86.1%

										Quarter-to-Date
	March 31,		December 31,		September 30,			June 30,		March 31,		December 31,		September 30,			June 30,
	2024			2023			2023			2023				2023			2022			2022			2022
$	3,175	$	2,894	$	3,198	$	2,747			$	2,620	$	2,360	$	2,531	$	2,184
	2,942			2,754			2,989			2,621				2,438			2,301			2,442			2,105
$	2,728	$	2,616	$	2,593	$	2,364			$	2,226	$	2,194	$	2,227	$	2,122
	1,561			1,506			1,488			1,362				1,288			1,277			1,251			1,292
	-			(397)			-			-		-			7			-			(1)
	80			144			165			27				113			10			730			80
	1,641			1,253			1,653			1,389				1,401			1,295			1,981			1,371
	671			742			643			579				556			547			532			525
	71			66			65			61				63			62			53			52
$	345	$	556	$	232	$	335			$	205	$	290	$	(340)	$	173
	57.2%			57.6%			57.4%			57.6%				57.9%			58.2%			56.2%			60.9%
	-%			-15.2%			-%			-%		-%			0.3%			-%			-%
	2.9%			5.5%			6.4%			1.2%				5.1%			0.5%			32.8%			3.8%
	60.2%			47.9%			63.8%			58.8%				63.0%			59.0%			89.0%			64.6%
	24.6%			28.4%			24.8%			24.5%				25.0%			24.9%			23.9%			24.8%
	2.6%			2.5%			2.5%			2.6%				2.8%			2.8%			2.4%			2.4%
	87.3%			78.8%			91.1%			85.8%				90.8%			86.8%			115.3%			91.8%
	57.2%			57.8%			57.5%			57.6%				58.0%			58.2%			59.1%			58.8%
	84.4%			88.7%			84.9%			84.7%				85.9%			86.0%			86.8%			86.0%

Net CAT reinstatement premiums earned

-

5

19

(Some amounts may not reconcile due to rounding.)

-

9

5

-

5

-

110

-

1. Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, prior year development, COVID-19 losses and losses from the Russia/Ukraine war.
2. The attritional combined ratio for quarter and year ended December 31, 2023 included approximately $94m of profit commission related to loss reserves releases. Excluding this profit commission, the Reinsurance Segment's attritional combined ratio would have been 85.1% for the quarter and year ended December 31, 2023, respectively.

7

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Total Reinsurance Gross Premiums Written by Segment by LOB

(Dollars in millions)

				Year-to-Date
		March 31,			March 31,		December 31,
		2024			2023			2023
Gross Written Premium by Line of Business
Property Pro Rata	$	1,082	$	687	$	3,431
Property Non-Catastrophe XOL		171			176			720
Property Catastrophe XOL		462			445			1,690
Casualty Pro Rata		894			723			3,084
Casualty XOL		364			321			1,584
Financial lines		202			269			950
	$	3,175	$	2,620	$	11,460
Percentage of Gross Written Premium by Line of Business
Property Pro Rata		34.1%			26.2%			29.9%
Property Non-Catastrophe XOL		5.4%			6.7%			6.3%
Property Catastrophe XOL		14.6%			17.0%			14.7%
Casualty Pro Rata		28.2%			27.6%			26.9%
Casualty XOL		11.5%			12.2%			13.8%
Financial lines		6.4%			10.3%			8.3%
		100.0%			100.0%			100.0%

(Some amounts may not reconcile due to rounding.)

March 31, 2024

• 1,082
  171
  462
  894
  364
  202

• 3,175

34.1%

5.4%

14.6%

28.2%

11.5%

6.4%

100.0%

							Quarter-to-Date
December 31,		September 30,			June 30,		March 31,
	2023			2023			2023			2023
$	979	$	940	$	826		$	687
	162			181			201			176
	365			486			394			445
	795			847			719			723
	386			485			393			321
	207			260			215			269
$	2,894	$	3,198	$	2,747		$	2,620
	33.8%			29.4%			30.1%			26.2%
	5.6%			5.7%			7.3%			6.7%
	12.6%			15.2%			14.3%			17.0%
	27.5%			26.5%			26.2%			27.6%
	13.3%			15.2%			14.3%			12.2%
	7.2%			8.1%			7.8%			10.3%
	100.0%			100.0%			100.0%			100.0%

December 31,		September 30,			June 30,
	2022			2022			2022
$	704	$	648	$	610
	112			150			138
	289			479			304
	736			706			619
	318			376			317
	202			172			196
$	2,360	$	2,531	$	2,184
	29.8%			25.6%			27.9%
	4.7%			5.9%			6.3%
	12.2%			18.9%			13.9%
	31.2%			27.9%			28.3%
	13.5%			14.9%			14.5%
	8.5%			6.8%			9.0%
	100.0%			100.0%			100.0%

8

EVEREST GROUP, LTD.

Supplemental GAAP Financial Information - Insurance Segment Data

(Dollars in millions)

Insurance Segment

REVENUES:

Gross written premiums

Net written premiums

Net premiums earned

UNDERWRITING CLAIMS AND EXPENSES: Incurred losses and LAE

Current year Prior year Catastrophes

Total incurred losses and LAE Commission, brokerage, taxes and fees Other underwriting expenses

UNDERWRITING INCOME (LOSS)

KEY RATIOS

Loss Ratio:

Current year

Prior year

Catastrophe

Total Loss Ratio

Commission and brokerage

Other underwriting expenses

Combined ratio

Attritional Ratios (5)

Attritional loss ratio

Attritional combined ratio

Net CAT reinstatement premiums earned

			Year-to-Date														Quarter-to-Date
	March 31,			March 31,	December 31,			March 31,		December 31,		September 30,			June 30,		March 31,		December 31,		September 30,			June 30,
	2024			2023			2023			2024			2023			2023			2023			2023			2022			2022			2022
$	1,236	$	1,122		$	5,177		$	1,236	$	1,428	$	1,193	$	1,433		$	1,122	$	1,278	$	1,148	$	1,263
	958			891			3,929			958			1,107			878			1,053			891			887			881			917
$	923	$	874		$	3,644		$	923	$	962	$	920	$	888		$	874	$	818	$	841	$	794
	591			563			2,319			591			601			583			572			563			518			532			500
	-			-		392			-			392			-			-		-			(7)			-			-
	5			2			20			5			8			10			-		2			5			110			5
	596			565			2,732			596			1,002			593			572			565			516			642			505
	111			105			432			111			111			108			107			105			104			109			105
	153			137			591			153			160			151			143			137			120			116			118
$	64	$	67		$	(109)		$	64	$	(311)	$	69	$	66		$	67	$	78	$	(27)	$	67
	64.0%			64.4%			63.6%			64.0%			62.5%			63.3%			64.4%			64.4%			63.3%			63.3%			62.9%
	-%			-%		10.8%			-%			40.8%			-%			-%		-%			-0.9%			-%			-%
	0.5%			0.2%			0.6%			0.5%			0.9%			1.1%			-%		0.2%			0.6%			13.1%			0.6%
	64.5%			64.6%			75.0%			64.5%			104.2%			64.4%			64.4%			64.6%			63.1%			76.4%			63.6%
	12.0%			12.0%			11.8%			12.0%			11.6%			11.8%			12.1%			12.0%			12.7%			13.0%			13.2%
	16.6%			15.6%			16.2%			16.6%			16.6%			16.4%			16.2%			15.6%			14.7%			13.8%			14.8%
	93.1%			92.3%			103.0%			93.1%			132.4%			92.5%			92.6%			92.3%			90.5%			103.2%			91.6%
	64.0%			64.4%			63.6%			64.0%			62.6%			63.3%			64.4%			64.4%			63.3%			63.3%			62.9%
	92.5%			92.0%			91.7%			92.5%			90.8%			91.4%			92.6%			92.0%			90.7%			90.1%			90.9%
	-			-		-			-			-			-			-		-			-			-			-

(Some amounts may not reconcile due to rounding.)

1. Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, prior year development, COVID-19 losses and losses from the Russia/Ukraine war.

9