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Everest Group has reported a turnover of 4.391 billion USD for the first quarter of 2025, down slightly by 0.5% compared to the 4.411 billion USD posted a year earlier.
The Bermudan group closed the first three months of the current financial year with a net profit of 210 million USD, against 733 million USD in Q1 2024. The operating result also fell significantly, amounting to 276 million USD as opposed to the 709 million USD recorded twelve months earlier.
The combined ratio deteriorated by 13.9 points, from 88.8% at the end of March 2024 to 102.7% a year later.
Everest's results were adversely affected by the sharp rise in natural catastrophe losses, which cost 472 million USD compared with 85 million USD in the same period of 2024. This surge was primarily driven by the Los Angeles forest fires, which cost the Group's reinsurance segment 442 million USD.
