Everest Group, Ltd. ("Everest" or "the Company") (NYSE:EG), a global specialty reinsurance and insurance leader, today announced the completion of the previously announced sale of its Canadian Retail Insurance operations, Everest Insurance Company of Canada ("Everest Canada"), to The Wawanesa Mutual Insurance Company ("Wawanesa") following receipt of required regulatory approvals and satisfaction of customary closing conditions.

The transaction marks another milestone in Everest’s strategic repositioning and advances the Company’s focus on its core Reinsurance and Global Wholesale and Specialty businesses. Everest announced the definitive agreement on March 23, 2026, as part of its previously announced plan to exit its Commercial Retail Insurance operations.

"The completion of this transaction further sharpens Everest’s portfolio and positions the Company to concentrate its capital and capabilities on its core Reinsurance and Global Wholesale and Specialty Insurance businesses," said Jim Williamson, Everest President and CEO. "We thank our Canadian colleagues for their contributions and wish them continued success with Wawanesa."

Advisors to the transaction include Ardea Partners LP as exclusive financial advisor and Debevoise & Plimpton LLP and Stikeman Elliott LLP as legal advisors to Everest. TD Securities acted as exclusive financial advisor and Torys LLP acted as legal advisor to Wawanesa.

About Everest

Everest Group, Ltd. (Everest) is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE:EG) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at www.everestglobal.com.

About Wawanesa

The Wawanesa Mutual Insurance Company (Wawanesa), founded in 1896, is one of Canada’s largest mutual insurers, with over CAD$4 billion in annual revenue and assets of CAD$11.5 billion. Wawanesa, with its National Headquarters in Winnipeg, is the parent company of Wawanesa Life, which provides life insurance products and services throughout Canada, and Western Financial Group, which distributes personal and business insurance across Canada. Wawanesa proudly serves more than 1.87 million members in Canada.

Additional information about Wawanesa can be found on website at wawanesa.com.

Forward-looking Statements

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. Forward-looking statements about the sale transaction, strategic repositioning and Commercial Retail Insurance operations exit plans reflect management’s current expectations based on assumptions we believe are reasonable but are not guarantees of performance. Actual results may differ materially from those contained in forward-looking statements made on behalf of the Company. Forward-looking statements involve risks and uncertainties including the actual impact of the sale transaction, strategic repositioning and Commercial Retail Insurance operations exit plans and other factors described in our SEC filings, including but not limited to our latest Annual Report on Form 10-K. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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