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The filed complaint alleges that Everest Group, Ltd made materially false and/or misleading statements and/or failed to disclose that: (a) Everest remained materially exposed to and concentrated in casualty risks subject to escalating claim costs, including business defendants claimed Everest had reduced or exited; (b) Everest had inadequately priced portions of that business; (c) Everest’s reserves were insufficient, causing it to understate its liabilities and expenses and materially overstate its earnings; and (d) addressing these problems would require substantial reserve charges, protection against further adverse development, and reductions in Everest’s casualty business, thereby sacrificing recurring premium revenue.
Investors who purchased or otherwise acquired Everest Group, Ltd. securities within the class period described above and suffered losses may be eligible.
If you suffered a loss in Everest Group, Ltd. during the relevant time frame or pursuant to the relevant offering(s), you have until December 28, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
● The Allegation: The complaint alleges Everest publicly assured investors that it had strengthened underwriting, adequately priced its U.S. casualty business, and maintained sufficient reserves, while the company allegedly remained concentrated in the very risks it claimed to have reduced, underpriced that business, and failed to timely record adequate reserves, understating liabilities and overstating earnings.
● The Stock Drop: On October 28, 2025, EG fell $39.07 per share (11.4%) to $304.91 per share after Everest disclosed an additional $478 million reserve charge and purchased up to $1.2 billion of protection against further adverse development; earlier, EG fell $24.39 per share (6.4%) to $355.61 per share on October 31, 2024, after Everest disclosed spiking U.S. casualty loss activity and a pending reserve review; EG fell $14.91 per share (4.1%) to $353.52 per share on January 10, 2025, following the unexpected departure of CEO Juan Andrade.
● Class Period & Defendants: The class period runs from February 8, 2024 through October 27, 2025, inclusive. The named defendants are Everest Group, Ltd., James Williamson (acting Chief Executive Officer beginning January 8, 2025, and President and Chief Executive Officer beginning January 22, 2025), Juan Andrade (President and Chief Executive Officer through January 8, 2025), Mark Kociancic (Executive Vice President and Group Chief Financial Officer), and Michael Karmilowicz (head of the Insurance segment, who resigned as Chairman of Everest Global Insurance on December 3, 2024).
● Lead Plaintiff Deadline: December 28, 2026. Investors who wish to seek appointment as lead plaintiff must apply by the deadline.
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Everest Class Action Summary |
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Company |
Everest Group, Ltd. (NYSE: EG) |
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Lead Plaintiff Deadline |
December 28, 2026 |
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Class Period |
February 8, 2024 – October 27, 2025 |
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Stock Drop |
October 28, 2025 – EG fell $39.07 (11.4%) to $304.91 |
A securities class action lawsuit has been filed against Everest Group, Ltd. (NYSE: EG). The case was brought by the City of Detroit General Retirement System and the City of Plantation Police Officers' Retirement System. The class period runs from February 8, 2024 through October 27, 2025.
The complaint alleges that Everest made materially false and misleading statements about its U.S. casualty insurance business. Everest told investors it had strengthened underwriting, priced its policies well, and held enough reserves. In reality, the lawsuit claims the company stayed concentrated in risky casualty business, underpriced it, and failed to set aside adequate reserves.
As the alleged problems emerged, Everest recorded about $2.2 billion in reserve charges, bought protection against further losses, and exited parts of its casualty business. Everest's stock declined following several of the disclosures. The complaint alleges that investors suffered significant losses as a result.
Everest Group, Ltd. is a commercial property and casualty insurer and reinsurer incorporated in Bermuda, where it maintains its principal executive offices in Hamilton. The company operates through two reportable segments, Insurance and Reinsurance, and its common stock trades on the New York Stock Exchange under the ticker symbol EG.
February 8, 2024 – October 27, 2025
Investors who purchased or otherwise acquired Everest Group, Ltd. (EG) common stock during the Class Period may be eligible to seek recovery under the federal securities laws.
The complaint centers on Everest's aggressive expansion of its U.S. casualty insurance business, which began in 2020 under then Chief Executive Officer Juan Andrade and Insurance segment head Michael Karmilowicz. According to the lawsuit, defendants portrayed that expansion as disciplined and profitable. They represented that Everest had strengthened its underwriting, improved pricing and policy terms to account for expected losses, and reduced its exposure to underperforming business and risks particularly vulnerable to social inflation, meaning increases in claim costs beyond ordinary inflation caused by larger verdicts, settlements, litigation funding, and rising legal expenses.
The class period opens on February 8, 2024, after Everest increased its Insurance segment casualty reserves by $392 million, primarily for accident years 2016 through 2019. On the earnings call, then Chief Financial Officer Mark Kociancic stated that management felt "good about the loss picks" for accident years 2020 through 2023, and Andrade said Everest had "exited certain social inflation-prone industry classes" and would not write business that failed to meet its underwriting criteria. The complaint alleges these statements framed the charge as a legacy issue confined to older accident years while assuring investors that more recent business had been carefully selected, adequately priced, and conservatively reserved.
Defendants reinforced these assurances throughout 2024, the lawsuit claims. In April, Andrade stated Everest remained "conservative with our loss picks for casualty lines," and Kociancic said a review of reserves "across the board" had not "altered our view of our reserve portfolio." In August, Kociancic stated Everest had set "prudent loss picks," its "picks are holding," and there was "nothing material overall."
According to the complaint, these statements were materially false and misleading because defendants failed to disclose that Everest remained materially exposed to and concentrated in casualty risks subject to escalating claim costs, including business defendants claimed Everest had reduced or exited; that Everest had inadequately priced portions of that business; that its reserves were insufficient, causing it to understate liabilities and expenses and materially overstate earnings; and that addressing these problems would require substantial reserve charges, protection against further adverse development, and reductions in its casualty business.
According to the complaint, the alleged problems began to emerge after the market closed on October 30, 2024, when Everest disclosed that loss activity in its U.S. casualty business had "definitely spiked" and that its annual casualty reserve review was underway. Analysts warned the review could produce a reserve charge. Investor concerns deepened when Karmilowicz resigned as Chairman of Everest Global Insurance on December 3, 2024, and intensified further when Everest unexpectedly announced Andrade's departure on January 8, 2025, prompting analysts to raise their estimates of a potential reserve charge.
Less than three weeks later, after the market closed on January 27, 2025, Everest announced a $1.7 billion reserve charge, hundreds of millions of dollars more than analysts had projected, with approximately $1.3 billion related to U.S. casualty losses principally from accident years 2020 through 2024. Newly appointed Chief Executive Officer James Williamson called the portfolio's performance "unacceptable" and admitted that underwriting choices, including large guaranteed cost programs and concentrations involving large auto fleets, had contributed significantly to the losses. The complaint alleges these admissions revealed that, contrary to prior assurances, Everest had maintained a broader risk appetite and concentrated its portfolio in riskier casualty business.
Despite describing the January charge as action that would "firmly put this issue behind us," the lawsuit claims defendants continued to mislead investors throughout 2025, assuring them as late as July 31, 2025, that the Insurance division's reserve position was "adequate." Then, after the market closed on October 27, 2025, Everest disclosed an additional $478 million in net unfavorable prior year reserve development, entered an agreement providing $1.2 billion of protection against further adverse development on approximately $5.4 billion of reserves, and announced it would exit its global retail commercial insurance business, transferring to AIG the renewal rights for portfolios representing roughly $2 billion in annual premiums. Williamson later admitted that "80% of that development in U.S. casualty" came from policies Everest had already eliminated during its remediation.
Everest's stock declined across multiple disclosure dates. On October 31, 2024, EG fell $24.39 per share, or 6.4%, from $380.00 to $355.61 after the company disclosed spiking casualty loss activity and a pending reserve review. The stock declined $6.44 per share, or 1.7%, to $378.77 on December 4, 2024, following Karmilowicz's resignation, and a further $4.06 per share, or 1.1%, to $374.71 on December 5, 2024. On January 10, 2025, EG fell $14.91 per share, or 4.1%, to $353.52 after Andrade's unexpected departure was announced.
Following the $1.7 billion reserve charge, EG declined $5.53 per share, or 1.5%, to $367.47 on January 28, 2025, and then another $15.96 per share, or 4.3%, to $351.51 on January 29, 2025, as S&P revised its outlook from stable to negative. The most significant drop came on October 28, 2025, when EG fell $39.07 per share, or 11.4%, from $343.98 to $304.91 after the company disclosed the additional $478 million reserve charge, its purchase of adverse development protection, and the exit from its global retail commercial insurance business.
● Lead Plaintiff Deadline: December 28, 2026
● After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.
● Defendants may file a motion to dismiss.
● If the case proceeds, the Court may later consider class certification.
Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.
The lawsuit alleges that Everest Group, Ltd. (NYSE: EG) made materially false and misleading statements about its U.S. casualty insurance business between February 8, 2024 and October 27, 2025. According to the complaint, Everest assured investors that it had strengthened underwriting, adequately priced its casualty policies, and maintained sufficient reserves. The complaint alleges that in reality the company remained concentrated in risky casualty business, underpriced portions of it, and failed to timely record adequate reserves, which understated its liabilities and overstated its earnings.
The defendants are Everest Group, Ltd. and four individual defendants: James Williamson, who became Chief Executive Officer in January 2025; Juan Andrade, who served as President and Chief Executive Officer until his departure on January 8, 2025; Mark Kociancic, Executive Vice President and Group Chief Financial Officer; and Michael Karmilowicz, who led the Insurance segment and resigned as Chairman of Everest Global Insurance on December 3, 2024. The complaint alleges each individual defendant knew or recklessly disregarded that the statements attributed to him were materially false or misleading.
The class period runs from February 8, 2024 through October 27, 2025, inclusive. Investors who purchased or acquired Everest Group, Ltd. (EG) common stock during this period may be eligible to seek recovery under the federal securities laws. The complaint alleges that throughout this period, defendants made materially false and misleading statements about the adequacy of Everest's casualty reserves, the discipline of its underwriting, and its exposure to social inflation.
Everest Group's stock declined across several dates as the alleged truth emerged. On October 31, 2024, EG fell 6.4% to $355.61 per share. The stock dropped 4.1% to $353.52 on January 10, 2025, after Andrade's departure, and declined following the $1.7 billion reserve charge in late January 2025. The largest single drop occurred on October 28, 2025, when EG fell $39.07 per share, or 11.4%, to $304.91 after Everest disclosed an additional $478 million reserve charge and purchased protection against further adverse development.
According to the complaint, Everest failed to disclose that it remained materially exposed to and concentrated in casualty risks subject to escalating claim costs, including business it claimed to have reduced or exited. The lawsuit alleges Everest inadequately priced portions of that business and that its reserves were insufficient, causing it to understate liabilities and expenses and overstate earnings. The complaint further alleges that addressing these problems would ultimately require substantial reserve charges, protection against further adverse development, and reductions in the casualty business.
The complaint alleges Everest recorded approximately $2.2 billion in reserve charges as the truth emerged. This included a $1.7 billion reserve charge announced on January 27, 2025, of which roughly $1.3 billion related to U.S. casualty losses principally from accident years 2020 through 2024. On October 27, 2025, Everest disclosed an additional $478 million in net unfavorable prior year reserve development, driven principally by adverse development in U.S. casualty losses, and purchased up to $1.2 billion of adverse development protection on approximately $5.4 billion of reserves.
The lead plaintiff deadline is December 28, 2026.
Under the Private Securities Litigation Reform Act, an investor who purchased or otherwise acquired Everest Group (EG) common stock during the class period may apply to the Court to serve as lead plaintiff. The lead plaintiff is typically the investor with the largest financial interest who can adequately represent the class. The lead plaintiff oversees the prosecution of the action and selects counsel. Investors who wish to seek appointment as lead plaintiff must apply by the deadline.
The lawsuit alleges Everest Group (NYSE: EG) made materially false and misleading statements about its U.S. casualty business, claiming it had strengthened underwriting and held adequate reserves while allegedly remaining concentrated in risky, underpriced business with insufficient reserves.
The class period runs from February 8, 2024 through October 27, 2025, inclusive. Investors who purchased Everest Group (EG) common stock during this period may be eligible to seek recovery.
EG fell $39.07 per share, or 11.4%, to $304.91 on October 28, 2025, after Everest disclosed an additional $478 million reserve charge and purchased protection against further losses. Everest's stock also declined following earlier disclosures identified in the complaint.
The lead plaintiff deadline is December 28, 2026.
The complaint alleges Everest concealed that it remained concentrated in escalating casualty risks, underpriced that business, held insufficient reserves, and would need substantial charges, adverse development protection, and casualty business reductions to address the problems.
Deadline
Dec 28, 2026