Everest Group posts strong Q1 earnings, boosts share buyback, signals turnaround progress

Everest Group reported better-than-expected Q1 earnings of $16.08 per share, driven by improved underwriting with a 91.2% combined ratio and $33 million in favorable reserve adjustments. The company is focusing on reinsurance and shedding underperforming insurance lines as part of a strategic turnaround. Capital return efforts have accelerated, with the quarterly buyback floor raised to $300 million and a 6.3% reduction in share count year-over-year. Analysts maintain a Buy rating with a target price around $390 by year-end, expecting the company’s self-help initiatives and capital deployment to support a gradual stock re-rating.