The table below displays long-term note agreements that Group entered into with Holdings for the periods indicated. These transactions are presented as Notes Payable – Affiliated in the Consolidated Balance Sheet of Holdings. The fair value of these long-term notes is considered Level 2 in the fair value hierarchy.


					June 30, 2026				December 31, 2025
(Dollars in millions)	Date Issued	Date Due	Principal Amounts		Consolidated Balance Sheet Amount		Fair Value		Consolidated Balance Sheet Amount		Fair Value
4.30% Long-term Note	12/23/2024	12/23/2027	$	600	$	600	$	603	$	600	$	615


			Three Months Ended June 30,		Six Months Ended June 30,
(Dollars in millions)	Interest Received	Receivable Dates	2026	2025	2026	2025
4.30% Long-term Note	semi-annually	June 30 and December 31	6	6	13	13

(Some amounts may not reconcile due to rounding.)

Holdings holds 1,773.214 preferred shares of Preferred Holdings with a $1.0 million par value and 1.75% annual dividend rate. Holdings received these shares in December 2015 in exchange for previously held 9,719,971 common shares of Group. After the exchange, Holdings no longer holds any shares or has any ownership interest in Group. Holdings has reported the preferred shares in Preferred Holdings, as other invested assets, fair value, in the consolidated balance sheets with changes in fair value re-measurement recorded in net gains (losses) on investments in the consolidated statements of operations and comprehensive income (loss). The following table presents the dividends received on the preferred shares of Preferred Holdings that are reported as net investment income in the consolidated statements of operations and comprehensive income (loss) for the period indicated:

Everest Global Services, Inc. (“Global Services”), an affiliate of Holdings, provides centralized management and home office services, through a management agreement, to Holdings and other affiliated companies within Holdings’ consolidated structure. Services provided by Global Services include executive managerial services, legal services, actuarial services, accounting services, information technology services and others.


	Three Months Ended June 30,		Six Months Ended June 30,
(Dollars in millions)	2026	2025	2026	2025
Written premiums:
Assumed	15	16	39	40
Ceded	(75)	(88)	(205)	(294)

Premiums earned:
Assumed	14	15	43	35
Ceded	(88)	(118)	(178)	(234)

Incurred losses and LAE:
Assumed	8	3	16	—
Ceded	(1)	7	(1)	5

Effective January 1, 2018, Everest Re entered into a twelve-month whole account aggregate stop loss reinsurance contract (the “stop loss agreement”) with Bermuda Re, that is renewed annually. The stop loss agreement provides coverage for ultimate net losses on applicable net earned premiums above a retention level, subject to certain other coverage limits and conditions. The stop loss agreements between Everest Re and Bermuda Re that were effective for 2018 and 2019 were both commuted during the third quarter of 2023, and the agreement for the 2020 effective year was commuted during the third quarter of 2025. The commutation of the 2020 agreement resulted in the recognition of an incurred gain of $10 million for Everest Re in the third quarter of 2025. The stop loss agreement was most recently renewed effective January 1, 2026. Beginning in 2025, Bermuda Re and Everest International are co-participants with 70% and 30% participation shares, respectively. As of June 30, 2026 and December 31, 2025, Everest Re had reinsurance recoverables on unpaid losses of $7 million and $24 million, respectively, in connection with the aggregate stop loss agreement.

Everest Re had whole account quota share reinsurance agreements in place with Bermuda Re from 2002 through the end of 2017. Quota share percentages ranged from 20% to 60% depending on the year. As of December 31, 2017, the quota share reinsurance agreements between Everest Re and Bermuda Re were not renewed and the existing quota shares were put into run-off. As of June 30, 2026 and December 31, 2025, Everest Re had reinsurance recoverables on unpaid losses of $369 million and $443 million, respectively, in connection with these agreements.

Everest Re had whole account quota share reinsurance agreements in place with Everest International from 2004 through the end of 2009. Quota share percentages ranged from 2% to 8% depending on the year. As of December 31, 2009, the quota share reinsurance agreements between Everest Re and Everest International were not renewed and the existing quota shares were put into run-off. As of June 30, 2026 and as of December 31, 2025, Everest Re had reinsurance recoverables on unpaid losses of $5 million and $6 million, respectively, in connection with these agreements.

Everest Re (Canadian Branch) had quota share reinsurance agreements in place with the Company from 2007 through the end of 2017. Quota share percentages ranged from 60% to 75% depending on the year. As of December 31, 2017, the quota share reinsurance agreements between Everest Re (Canadian Branch) and the Company were not renewed and the existing quota shares were put into run-off. During the second quarter of 2025, the quota share reinsurance agreements between Everest Re (Canadian Branch) and the Company were commuted effective June 30, 2025; the commutation loss recognized by the Company upon settlement was not significant.

Effective October 1, 2008, the Company entered into a loss portfolio transfer (“LPT”) agreement with Bermuda Re that covers subject loss reserves related to casualty business for accident years 2002 to 2007. As a result of the LPT agreement, the Company transferred $747 million of loss reserves to Bermuda Re. During the fourth quarter of 2025, the LPT agreement between Everest Re and Bermuda Re was commuted effective December 1, 2025 and a $6 million loss was recognized by Everest Re upon settlement.

Effective December 31, 2017, Everest Re entered into an LPT agreement with Bermuda Re. The LPT agreement covers subject loss reserves of $2.3 billion for accident years 2017 and prior subject to retention. As a result of the LPT agreement, the Company transferred $1.0 billion of cash and fixed maturity securities and transferred $970 million of loss reserves to Bermuda Re. As part of the LPT agreement, Bermuda Re will provide an additional $500 million of adverse development coverage on the subject loss reserves. During the fourth quarter of 2025, this additional LPT agreement between Everest Re and Bermuda was commuted effective December 1, 2025 and the loss recognized by Everest Re upon settlement was not significant.

Everest Assurance entered into a continuous, 100% whole account quota share reinsurance agreement with Bermuda Re effective January 1, 2018. This agreement covers life business and is renewable until terminated. As of June 30, 2026 and as of December 31, 2025, related balance sheet amounts were not significant.

Everest Re entered into a catastrophe excess of loss contract with Bermuda Re effective January 1, 2025 through December 31, 2025. The contract provided Everest Re up to $600 million of reinsurance coverage in excess of $1.5 billion for hurricane perils and in excess of $1.1 billion for earthquake events. The agreement was amended effective July 1, 2025 to provide Everest Re up to $500 million of reinsurance coverage in excess of $1.5 billion for hurricane perils and in excess of $1.1 billion for earthquake events. This contract was most recently renewed effective January 1, 2026 to provide Everest Re up to $300 million of reinsurance coverage in excess of $1.95 billion for hurricane perils and in excess of $1.3 billion for earthquake events. Everest Re will pay Bermuda Re $54 million for this coverage. As of June 30, 2026 and as of December 31, 2025, related balance sheet amounts were not significant.

Everest Re entered into a catastrophe excess of loss reinsurance contract with Everest Insurance (Ireland), dac (“Ireland Insurance”) effective January 1, 2021 through December 31, 2021. This contract has been renewed annually since inception. The contract provides Ireland Insurance with up to €750 million of reinsurance coverage for each catastrophe occurrence above €15 million. Ireland Insurance paid Everest Re €15 million and €26 million for treaty years 2026 and 2025 for this coverage. This contract was most recently renewed effective January 1, 2026. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $31 million and $23 million, respectively, recorded on its balance sheet due from Ireland Insurance.

Everest Re entered into a catastrophe excess of loss reinsurance contract with Everest Reinsurance Company (Ireland), dac (“Ireland Re”), effective February 1, 2021 through January 31, 2022. This contract has been renewed annually since inception. The contract provides Ireland Re with up to €125 million of reinsurance coverage for each catastrophe occurrence above €18 million. Ireland Re paid Everest Re €7 million and €9 million for treaty years 2026 and 2025 for this coverage. This agreement was most recently renewed effective February 1, 2026, and was amended to provide Ireland Re with up to €90 million of reinsurance coverage for each catastrophe occurrence above €18 million. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $15 million and $11 million, respectively, recorded on its balance sheet due from Ireland Re.

Everest Re entered into a catastrophe excess of loss reinsurance contract with Lloyd’s Syndicate 2786, effective June 1, 2022 through March 31, 2023. This contract has been renewed annually since inception. The contract provides Lloyd’s Syndicate 2786 with up to $40 million of reinsurance coverage for each catastrophe occurrence above $8 million. Lloyd’s Syndicate 2786 paid Everest Re $4 million for this coverage. This contract was most recently renewed effective April 1, 2025, and was not renewed in 2026. As of December 31, 2025, the Company had assumed premiums receivable of $3 million recorded on its balance sheet due from Lloyd’s Syndicate 2786. As of June 30, 2026, related balance sheet amounts were not significant.

Everest Re entered into a per event excess of loss reinsurance contract with Lloyd’s Syndicate 2786, effective July 1, 2025 through June 30, 2026. The agreement was not renewed in 2026. The contract provides Lloyd’s Syndicate 2786, with up to $8 million of reinsurance coverage for each catastrophe occurrence above $3 million. Lloyd’s Syndicate 2786 will pay Everest Re $0.4 million for this coverage annually. As of June 30, 2026 and December 31, 2025, related balance sheet amounts were not significant.

Everest Re (Canadian Branch) entered into an excess of loss reinsurance agreement with Everest Insurance Company of Canada (“Everest Canada”), effective January 1, 2024 through December 31, 2024. This contract has been renewed annually since inception. This contract provides Everest Canada with up to C$270 million of reinsurance coverage for each catastrophe occurrence above C$50 million. Everest Canada will pay Everest Re (Canadian Branch) C$9 million for this coverage annually. This agreement was most recently renewed January 1, 2026. On March 22, 2026, EUGIL entered into a definitive agreement to Everest Canada to Wawanesa. See Note 1 of the Notes to the Consolidated Financial Statements for details. In connection with this sale, Everest Canada will enter into an LPT reinsurance agreement with Everest Re (Canadian Branch) pursuant to which Everest Re (Canadian Branch) will reinsure certain liabilities of Everest Canada with respect to insurance business written prior to the closing of the transaction. The transaction is anticipated to close in the second half of 2026. As of June 30, 2026 and December 31, 2025, related balance sheet amounts were not significant.

Everest Re entered into a whole account quota share reinsurance agreement with Everest Compañía de Seguros Generales Colombia S.A. (“Everest Colombia”), effective July 1, 2025 through June 30, 2026. This agreement covers property and casualty business. Quota share percentages vary based on the line of business for the premium written. On May 19, 2026, Group entered into a definitive agreement to sell Everest Colombia to AIG. The transaction is anticipated to close in early 2027, pursuant to customary regulatory approvals and closing conditions. As a condition of this agreement, Everest Re and Everest Colombia will enter into an Amended and Restated Reinsurance Agreement for this existing whole account quota share reinsurance agreement. The current contract was extended and will terminate upon change of control of Everest Colombia. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $16 million and $10 million, respectively, recorded on its balance sheet due from Everest Colombia.

Everest Re entered into a 99.0% whole account quota share reinsurance agreement with Compañía General de Seguros Everest Mexico (“Everest Mexico”), effective July 1, 2024 through June 30, 2025. This contract has been renewed annually since inception. This agreement covers property and casualty business. Effective January 1, 2025, the quota

share percentage was amended to 99.7% for real estate fund business and 99% for all remaining lines of property and casualty business. This agreement was extended and will expire on December 31, 2026. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $15 million and $12 million, respectively, recorded on its balance sheet due from Everest Mexico.

Everest Re entered into a catastrophe excess of loss reinsurance agreement with Everest Compañía de Seguros Generales Chile S.A. (“Everest Chile”), effective July 1, 2022 through June 30, 2023. This contract has been renewed annually since inception. The contract provides Everest Chile with up to $180 million of reinsurance coverage for each catastrophe occurrence above $9 million. This agreement was most recently renewed July 1, 2026. Everest Chile paid Everest Re $7 million for this coverage for the July 2025 - June 2026 treaty year, and will pay $9 million for coverage for the July 2026 - June 2027 treaty year. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $12 million and $13 million, respectively, recorded on its balance sheet due from Everest Chile.

Everest Re entered into a 65% whole account quota share reinsurance agreement with Everest Chile, effective July 1, 2022 through June 30, 2023. The contract was not renewed and is in run-off as of December 31, 2024. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $10 million and $11 million, respectively, recorded on its balance sheet due from Everest Chile.

Everest Re entered into a catastrophe excess of loss reinsurance contract with Bermuda Re (UK Branch), effective January 1, 2021 through December 31, 2021. This contract has been renewed annually since inception. The contract provides Bermuda Re (UK Branch) with up to £130 million of reinsurance coverage for each catastrophe occurrence above £27 million. Bermuda Re (UK Branch) paid Everest Re £5 million and £7 million for treaty years 2026 and 2025, respectively, for this coverage. This contract was most recently renewed effective January 1, 2026. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $9 million and $7 million, respectively, recorded on its balance sheet due from Bermuda Re (UK Branch).

Everest Re entered into a per risk and per occurrence and excess of loss reinsurance contract with the Australia Branch of Everest International (“Everest International - Australia Branch”), effective July 1, 2025 through June 30, 2026. The contract provides Everest International - Australia Branch with up to A$65 million of reinsurance coverage for each risk or occurrence above A$8 million. Everest International - Australia Branch will pay Everest Re A$11 million for the coverage annually. This contract was most recently renewed effective July 1, 2026, and was amended to provide Everest International - Australia Branch with up to A$55 million of reinsurance coverage for each risk or occurrence above A$8 million. As of June 30, 2026, the Company had assumed premiums receivable of $3 million, and as of December 31, 2025, related balance sheet amounts were not significant.

Everest Re entered into a catastrophe excess of loss reinsurance contract with the Everest International - Australia Branch, effective February 1, 2025 through June 30, 2025. The contract provides Everest International - Australia Branch, with up to A$167 million of reinsurance coverage for each catastrophe occurrence above A$73 million. Everest International - Australia Branch paid Everest Re A$4 million for this coverage annually. The contract was most recently renewed effective July 1, 2025, and was not renewed in 2026. As of June 30, 2026 and December 31, 2025, the Company had assumed premiums receivable of $5 million and $4 million, respectively, recorded on its balance sheet due from Everest International - Australia Branch.

Everest Re entered into a catastrophe excess of loss reinsurance contract with the Everest International Reinsurance - Singapore Branch, effective July 1, 2025 through December 31, 2025. This contract was most recently renewed effective January 1, 2026. The contract provides Everest International Reinsurance - Singapore Branch, with up to S$85 million of aggregate reinsurance coverage for subject ultimate net loss from loss occurrences above S$9 million. Everest International Reinsurance - Singapore Branch will pay Everest Re S$2 million for this coverage annually. As of June 30, 2026 and December 31, 2025, related balance sheet amounts were not significant.

In 2013, Group established Mt. Logan Re, Ltd. (“Mt. Logan Re”), which is a collateralized insurer based in Bermuda. Mt. Logan Re then established separate segregated accounts for its business activity, which invest in a diversified set of catastrophe exposures.


(Dollars in millions)	Three Months Ended June 30,				Six Months Ended June 30,
Mt. Logan Re Segregated Accounts	2026		2025		2026		2025
Ceded written premiums	$	72	$	63	$	173	$	209
Ceded earned premiums	72		75		173		182
Ceded losses and LAE	9		(4)		27		109

The Company reinsures some of its loss exposures from its global casualty and specialty reinsurance and facultative portfolios with the segregated accounts of a subsidiary of Annapurna. Annapurna is a Bermuda-based collateralized insurer and special purpose vehicle. For the three and six months ended June 30, 2026, written premiums, earned premiums, and losses and LAE ceded to Annapurna were $132 million, $37 million, and $25 million, respectively.