AM Best Affirms Credit Ratings of Everest Group, Ltd and Its Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating subsidiaries of Everest Group, Ltd. (Bermuda) (collectively referred to as Everest). Concurrently, AM Best has affirmed the Long-Term ICRs of “a-” (Excellent) of Everest Group, Ltd. and Everest Reinsurance Holdings, Inc. (Delaware). Lastly, AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IRs) of Everest Reinsurance Holdings, Inc. The outlook of these Credit Ratings (ratings) is negative. (See below for a detailed listing of the companies and Credit Ratings [ratings].)

The ratings reflect Everest’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very favorable business profile and appropriate enterprise risk management.

The affirmations reflect Everest’s profitable operating results, despite continued reserve strengthening through third-quarter 2026. Similar to peers, Everest has recognized continued adverse trends related to U.S. casualty reserves. Despite the reserve strengthening, the group’s combined ratio through third-quarter 2026 was 96.3, reflecting the solid diversification and scale of the organization. Since the initial reserve charges at year-end 2024, the group has implemented a number of operational changes that continue to mature under the new management team. AM Best will continue to monitor these changes and how they impact the overall stability of the organization going forward.

AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) with negative outlooks for the following reinsurance and insurance subsidiaries of Everest Group, Ltd.:

• Everest Reinsurance (Bermuda), Ltd.
• Everest Reinsurance Company
• Everest International Reinsurance, Ltd.
• Everest Reinsurance Company (Ireland), Designated Activity Company
• Everest Insurance (Ireland) Designated Activity Company
• Everest National Insurance Company
• Everest Indemnity Insurance Company
• Everest Security Insurance Company
• Everest Insurance Company of Canada
• Everest International Assurance Ltd.
• Everest Denali Insurance Company
• Everest Premier Insurance Company

The following Long-Term IRs have been affirmed with negative outlooks.

Everest Reinsurance Holdings, Inc.—
-- “a-” (Excellent) on $400 million 4.868% fixed senior unsecured notes, due 2044
-- “bbb” (Good) on $400 million 6.6% fixed-to-floating long-term junior subordinated notes, due 2067
-- “a-” (Excellent) on $1 billion 3.5% senior unsecured notes, due 2050

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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