By Kelly Cloonan

Shares of Everest Group slipped after the underwriter logged lower profit in its latest quarter and said it plans to sell its renewal rights for its retail commercial insurance business.

The stock slid 6.6%, to $321.39, in after-hours trading Monday. Shares are down 5.1% this year through market close.

The Bermuda company posted a profit of $255 million, or $6.09 a share, in its latest quarter, compared with $509 million, or $11.80 a share, a year earlier.

Adjusted earnings per share were $7.54, below estimates of $14.63 a share according to analysts polled by FactSet.

Revenue rose to $4.32 billion compared with $4.29 billion a year ago. Analysts expected $4.45 billion.

Everest also said it has agreed to sell the rights to renew its U.S., U.K., European, and Asia-Pacific commercial retail insurance businesses to AIG. The businesses total an estimated $2 billion in gross premiums written, Everest said.

The transaction is a result of strategic review of the company, and will provide further flexibility for share repurchases and investments in talent, technology and data, Chief Executive Jim Williamson said.

The company expects the transition process to begin in the current quarter. It estimates a pre-tax non-operating charge of $250 million to $350 million in connection with the transaction, which would be recognized over this year and next year.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

October 27, 2025 17:45 ET (21:45 GMT)

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