Everest Group's net income drops to $210m in Q1 2025, with decline in operating income.

From Yahoo Finance: 2025-05-01 11:21:00

Reinsurer Everest Group reported a net income of $210m for Q1 2025, down from $733m the previous year. Net operating income also declined to $276m, with net written premium at $3.7bn, a 4.2% reduction. The reinsurance segment saw a 4.5% decrease, while the insurance segment’s premium remained flat. Catastrophe losses of $461m, mainly from California wildfires, impacted results. President Jim Williamson cited high Q1 losses but expressed confidence in strategic plans for the future. In Q4 2024, Everest Group recorded a net loss of $593m, compared to a net income of $804m a year earlier. For the full year 2024, net income was $1.4bn, down from $2.5bn in 2023.



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