Everest Group is a global reinsurer and insurer that traces its roots to a reinsurance unit Prudential Financial spun off in the mid-1990s. The company trades on the New York Stock Exchange under the ticker EG and operates through affiliates in more than 115 countries. Its business splits into two segments, reinsurance and primary insurance, covering property, casualty, and specialty lines.
Website: everestglobal.com
Corporate headquarters: Seon Place, 141 Front Street, Hamilton HM 19, Bermuda
US headquarters: 100 Everest Way, Warren, New Jersey 07059
Founded: 1973, as Prudential Reinsurance, a subsidiary of Prudential Financial
Company type: public company (NYSE: EG); S&P 500 component
Business focus: reinsurance and insurance across property, casualty, and specialty lines
Regions served: more than 115 countries across six continents
The business started in 1973 as Prudential Reinsurance, a subsidiary formed to write reinsurance for Prudential Financial’s cedents. Prudential spun the unit off in the 1990s, and the company built its current identity from there. Key milestones since then include:
These changes moved Everest Group from a single-line reinsurer to a diversified underwriter that now runs both reinsurance and primary insurance operations.
Everest Group splits its underwriting into two segments, reinsurance and primary insurance, the latter sold under the Everest Insurance brand. Both draw on the same capital base and underwriting standards, applied at different points in the risk chain.
For more on Everest’s reinsurance business and the latest reinsurance news, visit the Everest Re Group profile on Reinsurance Business.
The group says reinsurance and insurance serve different purposes for the business. Reinsurance absorbs large, sudden losses, and the insurance business brings in steadier, longer-term client revenue.
Everest Group competes among the world’s largest reinsurers while building out a diversified specialty insurance book alongside that core business. Everest also manages third-party capital through its Mt. Logan platform, which it reorganized in 2024 into a multi-vehicle structure.
That platform now spans Mt. Logan Re, its original property catastrophe vehicle, and Annapurna Re, a casualty reinsurance sidecar it launched in 2025 with Stone Point and Mubadala as backers.
The company now reports its results across three segments, Reinsurance Treaty, Global Wholesale and Specialty, and Legacy, a structure it adopted in 2026 after exiting most of its commercial retail insurance business.
Everest Group’s long-term direction centers on underwriting discipline and capital management rather than rapid growth in premium volume, and its retail exit is freeing capital for its reinsurance and specialty lines.
Melcher takes the chair after USAA recovered from its first annual loss in a century, returned $3.8 billion to members in 2025, and began cutting auto rates for roughly half its policyholders
Treaty and wholesale specialty deliver a 90% combined ratio as the group's retail exit accelerates and share buybacks nearly double
As the market softens, carriers that built capability now have a structural retention edge over those that did not
Commercial P&C rates fell for the first time in 33 quarters and reinsurance capital hit a high of US$785 billion - Everest's distribution mandate just got more important
The move fills a new position designed to unify AIG's client and distribution strategy across its expanded global book
