EG · 10-Q · 2026Q3 · Full report

Reinsurance Treaty Loss Performance

EVEREST GROUP, LTD. · 2026-10-30 · Importance 53 · Surprise 48 · Contradicted

For the three months ended September 30, 2026, Reinsurance Treaty incurred losses and LAE rose 20.6% to $1.8 billion, and the segment loss ratio increased 22.3 points to 80.1%. Current-year catastrophe losses increased $245 million, including $103 million from earthquakes, $89 million from other weather events and $50 million from foreign conflict; prior-year attritional losses had $293 million of additional unfavorable development, primarily from U.S. casualty reserve strengthening. For the nine months, incurred losses fell 6.7% to $4.7 billion as current-year attritional losses declined $418 million and catastrophe losses declined $99 million, while prior-year attritional losses had $244 million of additional unfavorable development.

Key facts

• Reinsurance Treaty incurred losses increased 20.6% to $1.8 billion for the three months ended September 30, 2026, from $1.5 billion in 2025; the segment loss ratio increased 22.3 points. source
• Reinsurance Treaty incurred losses decreased 6.7% to $4.7 billion for the nine months ended September 30, 2026, from $5.1 billion in 2025. source
• Reinsurance Treaty prior-year attritional losses had a $293 million increase in net unfavorable development, primarily related to reserve strengthening on the U.S. casualty line. source
• Reinsurance Treaty prior-year attritional losses had a $244 million increase in net unfavorable development for the nine months, primarily due to U.S. casualty reserve strengthening. source
• Reinsurance Treaty current-year attritional losses decreased $418 million for the nine months ended September 30, 2026, driven by decreased earned premiums and the Washington D.C. aviation accident loss recognized in first-quarter 2025. source
• Reinsurance Treaty current-year catastrophe losses increased $245 million in the third quarter, primarily from Earthquakes ($103 million), Other Weather Related Events ($89 million) and Foreign Conflict ($50 million). source
• Reinsurance Treaty current-year attritional losses decreased $207 million in the third quarter, primarily related to lower earned premium. source
• Reinsurance Treaty current-year catastrophe losses decreased $99 million for the nine months, primarily reflecting $466 million of Wildfire reserve releases, partly offset by higher reserves for Other Weather Related Events ($181 million), Foreign Conflict ($112 million) and Earthquakes ($83 million). source

Impact estimates