EG · 10-Q · 2026Q3 · Full report

Income Tax Rate Changes

EVEREST GROUP, LTD. · 2026-10-30 · Importance 41 · Surprise 48

Income tax expense increased to $243 million for the nine months ended September 30, 2026, from $187 million, a 29.8% increase, primarily reflecting the geographic mix of pretax income and jurisdictional statutory tax rates. The 2026 tax expense included an approximately $40 million one-time benefit from a U.K. tax-law change effective March 20, 2026. Everest said the Bermuda Corporate Income Tax Act’s Economic Transition Adjustment creates deferred tax benefits, but OECD guidance limits their use against Pillar Two minimum taxes to approximately 20% of originally calculated amounts and only through 2026. Everest continued evaluating September 2026 OECD implementation guidance and its potential tax impact.

Key facts

• Income tax expense was $36 million and $14 million for the three months ended September 30, 2026 and 2025, respectively, and $243 million and $187 million for the nine months. source
• Everest’s 2026 income tax expense included a one-time tax benefit of approximately $40 million from a U.K. tax-law change effective March 20, 2026, following OECD guidance issued in January 2025. source
• The One Big Beautiful Bill was signed into law July 4, 2025; Everest reported no material impact on 2025 results, financial condition or cash flows and did not expect a material future impact, while continuing to evaluate it. source