Third Quarter 2020: Financial Supplement

Everest Re Group, Ltd.

Financial Supplement

September 30, 2020

EVEREST RE GROUP, LTD.

Supplemental GAAP Financial Information (Dollars in thousands, except per share amounts) (unaudited)

					Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
PRODUCTION INFORMATION:
Gross written premiums	$	7,731,813	$	6,697,037	$	9,133,364		$	2,791,604	$	2,369,338	$	2,570,871	$	2,436,327		$	2,403,274	$	2,166,655	$	2,127,108	$	2,278,361
Net written premiums		6,667,637			5,704,238			7,824,424			2,448,680			2,017,478			2,201,479			2,120,186			2,068,557			1,783,983			1,851,698			2,057,071
Net premiums earned		6,285,030			5,455,615			7,403,686			2,205,811			2,042,405			2,036,814			1,948,071			1,905,619			1,817,299			1,732,697			1,850,975
INVESTMENT INCOME:
Pre-tax investment income	$	420,116	$	501,062	$	647,139		$	234,233	$	38,083	$	147,800	$	146,077		$	181,058	$	179,028	$	140,976	$	140,204
Effective tax rate		12.2%			11.6%			11.7%			12.2%			19.3%			10.5%			12.1%			10.8%			9.8%			14.9%			12.1%
After-tax investment income	$	368,674	$	442,853	$	571,323		$	205,645	$	30,749	$	132,280	$	128,470		$	161,420	$	161,436	$	119,997	$	123,220
Net pre-tax yield - amortized cost		2.7%			3.5%			3.3%			4.3%			0.7%			2.9%			2.9%			3.7%			3.7%			3.0%			3.0%
Net after-tax yield - amortized cost		2.3%			3.1%			2.9%			3.8%			0.6%			2.6%			2.6%			3.3%			3.4%			2.6%			2.6%
CATASTROPHE INFORMATION:
Net pre-tax catastrophe losses (1)	$	345,000	$	335,000	$	550,000		$	300,000	$	15,000	$	30,000	$	215,000		$	280,000	$	30,000	$	25,000	$	875,000
After-tax effect of catastrophe losses
on earnings per basic common share (1)		(6.79)			(6.57)			(10.83)			(5.96)			(0.29)			(0.58)			(4.25)			(5.49)			(0.55)			(0.53)			(17.28)
After-tax effect of catastrophe losses
on earnings per diluted common share (1)		(6.78)			(6.55)			(10.79)			(5.95)			(0.29)			(0.57)			(4.24)			(5.49)			(0.55)			(0.53)			(17.28)
EFFECTIVE TAX RATE ON:
Net income (loss)		3.3%			10.0%			8.1%			10.8%			19.5%			-138.1%			0.7%			-12.2%			10.6%			14.5%			-45.4%
Net realized capital gains (losses)		20.4%			18.1%			18.5%			19.3%			18.5%			-18.2%			19.1%			-21.6%			14.1%			19.9%			-16.7%
Foreign exchange income (expense)		-3.6%			-11.1%			3.0%			6.9%			-3.7%			-19.5%			17.2%			-8.4%			-22.9%			469.7%			-27.0%
Operating income		-0.1%			9.0%			5.9%			3.9%			14.2%			-12.3%			-16.3%			-4.8%			10.9%			12.5%			-54.9%
AFTER-TAX EARNINGS:
Net income (loss)	$	450,549	$	791,817	$	1,009,461		$	243,057	$	190,880	$	16,612	$	217,644		$	104,398	$	332,868	$	354,551	$	(385,313)
Per basic common share		11.20			19.44			24.77			6.08			4.78			0.41			5.34			2.56			8.17			8.70			(9.58)
Per diluted common share		11.18			19.38			24.70			6.07			4.77			0.41			5.32			2.56			8.15			8.67			(9.58)
Net realized capital gains (losses)		67,067			89,756			150,808			88,911			150,519			(172,364)			61,052			(10,143)			25,994			73,905			(143,870)
Per basic common share		1.67			2.20			3.70			2.22			3.76			(4.23)			1.50			(0.25)			0.64			1.81			(3.58)
Per diluted common share		1.66			2.20			3.69			2.22			3.76			(4.22)			1.49			(0.25)			0.64			1.81			(3.58)
Foreign exchange income (expense)		39,233			(39,530)			(13,767)			57,157			(42,528)			24,604			25,763			(23,821)			(13,988)			(1,722)			(5,274)
Per basic common share		0.98			(0.97)			(0.34)			1.43			(1.06)			0.60			0.63			(0.58)			(0.34)			(0.04)			(0.13)
Per diluted common share		0.97			(0.97)			(0.34)			1.43			(1.06)			0.60			0.63			(0.58)			(0.34)			(0.04)			(0.13)
Income (loss) on TCJA Reform Act		-			-			-			-			-			-			-			-			-			-			703
Per basic common share		-			-			-			-			-			-			-			-			-			-			0.02
Per diluted common share		-			-			-			-			-			-			-			-			-			-			0.02
Operating income (2)		344,249			741,592			872,420			96,989			82,889			164,372			130,828			138,362			320,862			282,368			(236,872)
Per basic common share		8.56			18.21			21.41			2.43			2.07			4.04			3.21			3.40			7.88			6.93			(5.89)
Per diluted common share		8.54			18.15			21.34			2.42			2.07			4.03			3.20			3.39			7.85			6.91			(5.89)
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:
Basic		39,711			40,289			40,291			39,483			39,449			40,204			40,298			40,287			40,277			40,304			40,233
Diluted		39,790			40,421			40,420			39,557			39,519			40,296			40,418			40,411			40,404			40,445			40,408

(Some amounts may not reconcile due to rounding.) (NM, Not Meaningful)

Financial Supplement

Page 1 of 12

EVEREST RE GROUP, LTD.

Supplemental GAAP Financial Information (cont.) (Dollars in thousands, except per share amounts) (unaudited)

				Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
COMBINED RATIO:
Loss ratio		72.8%			64.4%			66.5%			78.7%			68.9%			70.3%			72.3%			72.0%			60.2%			60.5%			108.1%
Commission and brokerage ratio		21.7%			23.0%			23.0%			20.2%			22.8%			22.0%			23.1%			23.3%			23.2%			22.5%			21.4%
Other underwriting expense ratio		6.1%			5.9%			6.0%			6.3%			5.8%			6.3%			6.1%			6.1%			5.8%			5.7%			4.6%
Combined ratio		100.6%			93.3%			95.5%			105.2%			97.5%			98.6%			101.5%			101.4%			89.2%			88.7%			134.1%
CASH FLOW INFORMATION:
Cash flow provided by operations	$	2,190,608	$	1,486,863	$	1,852,002		$	1,086,022	$	598,597	$	505,989	$	365,139		$	633,352	$	393,709	$	459,802	$	66,440
Paid losses, net		3,058,250			2,957,477			4,503,071			907,859			1,074,073			1,076,318			1,545,594			984,810			1,051,973			920,694			1,257,134
Paid cats, net		505,916			677,965			868,824			150,280			136,298			219,338			190,859			192,664			236,081			249,220			371,448
Paid (recovered) asbestos and
environmental losses, net		21,378			19,871			32,756			6,212			7,880			7,286			12,885			6,951			3,097			9,823			8,670
Taxes paid (recovered)		(169,149)			(80,544)			(148,585)			(180,044)			5,975			4,920			(68,041)			3,451			6,851			(90,846)			2,877
RETURN ON EQUITY:
Beginning of period shareholders' equity	$	9,132,925	$	7,860,797	$	7,860,797		$	9,286,299	$	8,580,944	$	9,132,925	$	8,983,258		$	8,836,817	$	8,389,273	$	7,860,797	$	8,289,045
Net unrealized depreciation (appreciation)
of investments		(304,425)			179,392			179,392			(600,921)			(56,425)			(304,425)			(340,977)			(247,740)			(51,851)			179,392			213,020
Adjusted beginning of period
shareholders' equity	$	8,828,500		$	8,040,189		$	8,040,189		$	8,685,378		$	8,524,519		$	8,828,500		$	8,642,281		$	8,589,077		$	8,337,422		$	8,040,189		$	8,502,065
End of period shareholders' equity	$	9,591,292	$	8,983,258	$	9,132,925		$	9,591,292	$	9,286,299	$	8,580,944	$	9,132,925		$	8,983,258	$	8,836,817	$	8,389,273	$	7,860,797
Net unrealized depreciation (appreciation)
of investments		(652,949)			(340,977)			(304,425)			(652,949)			(600,921)			(56,425)			(304,425)			(340,977)			(247,740)			(51,851)			179,392
Adjusted end of period shareholders' equity	$	8,938,343		$	8,642,281		$	8,828,500		$	8,938,343		$	8,685,378		$	8,524,519		$	8,828,500		$	8,642,281		$	8,589,077		$	8,337,422		$	8,040,189
Average adjusted shareholders' equity	$	8,883,422	$	8,341,235	$	8,434,345		$	8,811,861	$	8,604,949	$	8,676,510	$	8,753,667		$	8,615,679	$	8,463,250	$	8,188,806	$	8,271,127
After-tax operating income (2)	$	344,249	$	741,592	$	872,420		$	96,989	$	82,889	$	164,372	$	130,828		$	138,362	$	320,862	$	282,368	$	(236,872)
After-tax net realized capital gains (losses)		67,067			89,756			150,808			88,911			150,519			(172,364)			61,052			(10,143)			25,994			73,905			(143,870)
After-tax foreign exchange income (expense)		39,233			(39,530)			(13,767)			57,157			(42,528)			24,604			25,763			(23,821)			(13,988)			(1,722)			(5,274)
After-tax TCJA Reform Act income (loss)		-			-			-			-			-			-			-			-			-			-			703
Net income (loss)	$	450,549	$	791,817	$	1,009,461		$	243,057	$	190,880	$	16,612	$	217,643		$	104,398	$	332,868	$	354,551	$	(385,313)
Return on equity (annualized)
After-tax operating income (2)		5.2%			11.9%			10.3%			4.4%			3.9%			7.6%			6.0%			6.4%			15.2%			13.8%			-11.5%
After-tax net realized capital gains (losses)		1.0%			1.4%			1.9%			4.0%			7.0%			-7.9%			2.8%			-0.5%			1.2%			3.6%			-6.9%
After-tax foreign exchange income (expense)		0.6%			-0.6%			-0.2%			2.6%			-2.0%			1.1%			1.2%			-1.1%			-0.7%			-0.1%			-0.3%
After-tax TCJA Reform Act income (loss)		0.0%			0.0%			0.0%			0.0%			0.0%			0.0%			0.0%			0.0%			0.0%			0.0%			0.0%
Net income (loss)		6.8%			12.7%			12.0%			11.0%			8.9%			0.8%			10.0%			4.8%			15.7%			17.3%			-18.6%

(Some amounts may not reconcile due to rounding.)

__________________________________________

1. Catastrophe losses are net of specific reinsurance and reinstatement premiums.
2. The Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating income (loss) consists of net income (loss) excluding after-tax net realized capital gains (losses), after-tax net foreign exchange income (expense) and the loss due to the enactment of the Tax Cuts and Jobs Act ("TCJA") of 2017. Although net realized capital gains (losses) and net foreign exchange income (expense) are an integral part of the Company's insurance operations, the determination of net realized capital gains (losses) and net foreign exchange income (expense) is independent of the insurance underwriting process. The Company believes that the level of net realized capital gains (losses) and net foreign exchange income (expense) for any particular period is not indicative of the performance of the underlying business in that particular period. Providing only a GAAP presentation of net income (loss) makes it more difficult for users of the financial information to evaluate the Company's success or failure in its basic business, and may lead to incorrect or misleading assumptions and conclusions. The Company understands that the equity analysts who follow the Company focus on after-tax operating income (loss) in their analyses for the reasons discussed above. The Company provides after-tax operating income (loss) to investors so that they have what management believes to be a useful supplement to GAAP information concerning the Company's performance.

Financial Supplement

Page 2 of 12

EVEREST RE GROUP, LTD.

Supplemental GAAP Balance Sheet Information (Dollars in thousands, except per share amounts) (unaudited)

	September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2020			2020			2019			2019			2019			2019			2018
BALANCE SHEET HIGHLIGHTS:
Total investments and cash	$	23,104,678	$	21,601,676	$	20,336,582	$	20,748,500		$	20,364,593	$	19,793,852	$	19,223,944	$	18,433,066
Total assets		30,153,027			28,584,793			27,222,638			27,324,051			27,023,741			26,340,448			25,593,151			24,750,992
Reserve for losses and loss adjustment expenses ("LAE") (gross)		15,233,125			14,276,641			13,820,504			13,611,313			13,637,639			13,249,488			13,247,102			13,119,090
Future policy benefit reserve		40,374			40,659			41,677			42,592			44,276			45,130			46,881			46,778
Senior notes due 6/1/2044		397,164			397,134			397,104			397,074			397,044			397,014			396,984			396,954
Long term notes due 5/1/2067		223,649			223,625			235,083			236,758			236,733			236,709			236,684			236,659
Shareholders' equity		9,591,292			9,286,299			8,580,944			9,132,925			8,983,258			8,836,817			8,389,273			7,860,797
Common shares outstanding		39,967			39,972			39,987			40,799			40,780			40,741			40,771			40,651
Book value per common share outstanding	$	239.98	$	232.32	$	214.59	$	223.85		$	220.28	$	216.90	$	205.77	$	193.37
TOTAL LOSS RESERVES:
Gross reserve for losses and LAE	$	15,233,125	$	14,276,641	$	13,820,504	$	13,611,313		$	13,637,639	$	13,249,488	$	13,247,102	$	13,119,090
Reinsurance receivables on unpaid losses		(1,774,732)			(1,692,947)			(1,651,946)			(1,640,712)			(1,632,687)			(1,636,918)			(1,621,292)			(1,619,641)
Net reserve for losses and LAE	$	13,458,393	$	12,583,694	$	12,168,558	$	11,970,601		$	12,004,952	$	11,612,570	$	11,625,810	$	11,499,449
ASBESTOS AND ENVIRONMENTAL LOSS RESERVES:
Net loss and LAE reserves	$	207,323	$	213,534	$	221,415	$	228,701		$	241,586	$	248,537	$	251,633	$	261,456
Net asbestos 3 year survival ratio		5.3			5.3			5.6			5.7			5.6			5.5			5.2			5.7
END OF PERIOD INVESTMENT PORTFOLIO INFORMATION:
Pre-tax book yield to maturity		3.1%			3.4%			3.4%			3.4%			3.4%			3.4%			3.5%			3.4%
After-tax book yield to maturity		2.7%			2.9%			3.0%			3.0%			3.0%			3.0%			3.1%			3.0%
Modified duration of fixed income portfolio (in years)		3.5			3.7			3.6			3.5			3.2			3.1			3.1			3.0
Average credit quality		Aa3			A1			Aa3			A1		A1			Aa3			Aa3			Aa3
OPERATING LEVERAGE:
Ratio of net written premiums to shareholders' equity
(12 month rolling)		0.92 TO 1			0.91 TO 1			0.95 TO 1			0.86 TO 1		0.86 TO 1			0.86 TO 1			0.91 TO 1			0.94 TO 1
Ratio of net loss and LAE reserves to shareholders' equity		1.40 TO 1			1.36 TO 1			1.42 TO 1			1.31 TO 1		1.34 TO 1			1.31 TO 1			1.39 TO 1			1.46 TO 1

Financial Supplement

Page 3 of 12

EVEREST RE GROUP, LTD. Segment Results (Dollars in thousands) (unaudited)

TOTAL SEGMENTS

					Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Gross written premiums	$	7,731,813	$	6,697,037	$	9,133,364		$	2,791,604	$	2,369,338	$	2,570,871	$	2,436,327		$	2,403,274	$	2,166,655	$	2,127,108	$	2,278,361
Net written premiums		6,667,637			5,704,238			7,824,424			2,448,680			2,017,478			2,201,479			2,120,186			2,068,557			1,783,983			1,851,698			2,057,071
Premiums earned	$	6,285,030	$	5,455,615	$	7,403,686		$	2,205,811	$	2,042,405	$	2,036,814	$	1,948,071		$	1,905,619	$	1,817,299	$	1,732,697	$	1,850,975
Incurred losses and LAE
Attritional - current year		4,217,640			3,239,004			4,440,955			1,427,509			1,386,689			1,403,441			1,201,951			1,128,669			1,085,219			1,025,116			1,112,209
Attritional - prior year		1,426			(74,400)			(93,558)			(1,299)			5,327			(2,601)			(19,158)			(52,245)			(20,589)			(1,566)			(74,153)
Catastrophes		355,000			350,500			575,501			310,000			15,000			30,000			225,001			295,500			30,000			25,000			962,998
Total incurred losses and LAE		4,574,066			3,515,104			4,922,898			1,736,210			1,407,016			1,430,840			1,407,794			1,371,924			1,094,630			1,048,550			2,001,054
Commission and brokerage		1,360,170			1,253,500			1,703,726			445,332			466,316			448,522			450,226			443,076			420,950			389,474			396,588
Other underwriting expenses		385,865			321,976			440,899			138,875			118,130			128,860			118,923			118,158			104,833			98,985			84,216
Underwriting gain (loss)	$	(35,071)	$	365,035	$	336,163		$	(114,606)	$	50,943	$	28,592	$	(28,872)		$	(27,539)	$	196,886	$	195,688	$	(630,883)
Loss ratio
Attritional - current year		67.1%			59.4%			60.0%			64.8%			67.9%			68.9%			61.7%			59.2%			59.6%			59.2%			60.0%
Attritional - prior year		0.1%			-1.4%			-1.3%			-0.1%			0.3%			-0.1%			-1.0%			-2.7%			-1.1%			-0.1%			-4.0%
Catastrophes		5.6%			6.4%			7.8%			14.0%			0.7%			1.5%			11.5%			15.5%			1.7%			1.4%			52.1%
Total loss ratio		72.8%			64.4%			66.5%			78.7%			68.9%			70.3%			72.3%			72.0%			60.2%			60.5%			108.1%
Commission and brokerage ratio		21.7%			23.0%			23.0%			20.2%			22.8%			22.0%			23.1%			23.3%			23.2%			22.5%			21.4%
Other underwriting expenses		6.1%			5.9%			6.0%			6.3%			5.8%			6.3%			6.1%			6.1%			5.8%			5.7%			4.6%
Combined ratio		100.6%			93.3%			95.5%			105.2%			97.5%			98.6%			101.5%			101.4%			89.2%			88.7%			134.1%
Ratios excluding reinstatement premium impact
Attritional loss ratio - current year		67.2%			59.5%			60.2%			65.0%			67.9%			68.9%			62.0%			59.7%			59.6%			59.2%			63.1%
Attritional combined ratio		95.0%			87.7%			88.4%			91.6%			96.5%			97.3%			90.3%			87.1%			88.6%			87.4%			90.4%

(Some amounts may not reconcile due to rounding.)

Financial Supplement

Page 4 of 12

EVEREST RE GROUP, LTD. Segment Results (cont.) (Dollars in thousands) (unaudited)

TOTAL REINSURANCE

					Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Gross written premiums	$	5,403,080	$	4,678,310	$	6,355,889		$	2,086,961	$	1,538,348	$	1,777,771	$	1,677,579		$	1,736,672	$	1,409,587	$	1,532,051	$	1,695,990
Net written premiums		4,974,034			4,212,952			5,732,272			1,936,851			1,424,089			1,613,094			1,519,320			1,583,713			1,234,686			1,394,553			1,590,365
Premiums earned	$	4,656,733	$	4,072,078	$	5,491,296		$	1,669,257	$	1,502,256	$	1,485,221	$	1,419,218		$	1,420,799	$	1,343,760	$	1,307,519	$	1,432,855
Incurred losses and LAE
Attritional - current year		3,067,495			2,330,472			3,177,518			1,063,847			1,004,886			998,762			847,046			808,007			773,701			748,764			836,345
Attritional - prior year		(3,128)			(74,428)			(77,153)			(1,299)			791			(2,620)			(2,725)			(52,243)			(20,619)			(1,566)			(22,969)
Catastrophes		297,000			349,857			574,813			272,500			-			24,500			224,956			294,857			30,000			25,000			947,152
Total incurred losses and LAE		3,361,367			2,605,901			3,675,178			1,335,048			1,005,677			1,020,642			1,069,277			1,050,621			783,082			772,198			1,760,528
Commission and brokerage		1,130,946			1,039,113			1,400,247			373,251			387,339			370,356			361,134			371,098			345,378			322,637			324,929
Other underwriting expenses		135,170			117,031			160,834			51,333			39,698			44,139			43,803			43,832			37,430			35,769			31,503
Underwriting gain (loss)	$	29,250	$	310,033	$	255,037		$	(90,375)	$	69,542	$	50,084	$	(54,996)		$	(44,752)	$	177,870	$	176,915	$	(684,105)
Loss ratio
Attritional - current year		65.9%			57.2%			57.9%			63.8%			66.9%			67.2%			59.7%			56.9%			57.6%			57.3%			58.4%
Attritional - prior year		-0.1%			-1.8%			-1.4%			-0.1%			0.1%			-0.2%			-0.2%			-3.7%			-1.5%			-0.1%			-1.6%
Catastrophes		6.4%			8.6%			10.5%			16.3%			0.0%			1.7%			15.9%			20.7%			2.2%			1.9%			66.1%
Total loss ratio		72.2%			64.0%			67.0%			80.0%			67.0%			68.7%			75.4%			73.9%			58.3%			59.1%			122.9%
Commission and brokerage ratio		24.3%			25.5%			25.5%			22.3%			25.8%			24.9%			25.4%			26.1%			25.7%			24.7%			22.7%
Other underwriting expense ratio		2.9%			2.9%			2.9%			3.1%			2.6%			3.0%			3.1%			3.1%			2.8%			2.7%			2.1%
Combined ratio		99.4%			92.4%			95.4%			105.4%			95.4%			96.6%			103.9%			103.1%			86.8%			86.5%			147.7%
Ratios excluding reinstatement premium impact
Attritional loss ratio - current year		66.0%			57.5%			58.2%			64.1%			66.9%			67.2%			60.1%			57.6%			57.6%			57.3%			62.2%
Attritional combined ratio		93.3%			84.9%			85.5%			89.7%			95.3%			95.2%			87.4%			84.0%			86.1%			84.7%			88.7%

(Some amounts may not reconcile due to rounding.)

Financial Supplement

Page 5 of 12

EVEREST RE GROUP, LTD. Segment Results (cont.) (Dollars in thousands) (unaudited)

TOTAL REINSURANCE

					Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Gross Written Premium by Line of Business
Property Pro Rata	$	1,761,097	$	1,431,659	$	1,974,212		$	671,906	$	524,306	$	564,885	$	542,553		$	529,361	$	403,925	$	498,373	$	500,757
Property Non-Catastrophe XOL		363,107			377,387			491,740			154,332			93,206			115,569			114,353			143,099			107,720			126,568			95,542
Property Catastrophe XOL		991,248			878,557			1,137,879			428,791			206,773			355,684			259,322			358,287			220,387			299,883			363,808
Casualty Pro Rata		1,118,138			1,031,037			1,443,324			363,152			360,708			394,278			412,287			375,858			355,057			300,122			398,720
Casualty XOL		720,125			536,434			730,291			289,650			212,458			218,017			193,857			199,447			159,473			177,514			160,379
Financial lines		449,365			423,236			578,443			179,130			140,897			129,338			155,207			130,620			163,025			129,591			176,784
	$	5,403,080			4,678,310	$	6,355,889		$	2,086,961	$	1,538,348	$	1,777,771	$	1,677,579		$	1,736,672	$	1,409,587	$	1,532,051	$	1,695,990
Percentage of Gross Written Premium by Line of Business
Property Pro Rata		32.6%			30.6%			31.1%			32.2%			34.1%			31.8%			32.3%			30.5%			28.7%			32.5%			29.5%
Property Non-Catastrophe XOL		6.7%			8.1%			7.7%			7.4%			6.1%			6.5%			6.7%			8.2%			7.6%			8.2%			5.6%
Property Catastrophe XOL		18.4%			18.8%			17.9%			20.5%			13.4%			20.0%			15.5%			20.6%			15.6%			19.6%			21.5%
Casualty Pro Rata		20.7%			22.0%			22.7%			17.4%			23.4%			22.2%			24.6%			21.6%			25.2%			19.6%			23.5%
Casualty XOL		13.3%			11.5%			11.5%			13.9%			13.8%			12.3%			11.6%			11.5%			11.3%			11.6%			9.5%
Financial lines		8.3%			9.0%			9.1%			8.6%			9.2%			7.3%			9.3%			7.5%			11.6%			8.5%			10.4%
		100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%

(Some amounts may not reconcile due to rounding.)

Financial Supplement

Page 6 of 12

EVEREST RE GROUP, LTD. Segment Results (cont.) (Dollars in thousands) (unaudited)

TOTAL INSURANCE

					Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Gross written premiums	$	2,328,733	$	2,018,727	$	2,777,475		$	704,643	$	830,990	$	793,100	$	758,748		$	666,602	$	757,068	$	595,057	$	582,371
Net written premiums		1,693,603			1,491,286			2,092,152			511,829			593,389			588,385			600,866			484,844			549,297			457,145			466,706
Premiums earned	$	1,628,297	$	1,383,537	$	1,912,390		$	536,554	$	540,149	$	551,593	$	528,853		$	484,820	$	473,539	$	425,178	$	418,120
Incurred losses and LAE
Attritional - current year		1,150,145			908,532			1,263,437			363,662			381,803			404,679			354,905			320,662			311,518			276,352			275,864
Attritional - prior year		4,554			28			(16,405)			-			4,536			19			(16,433)			(2)			30			-			(51,184)
Catastrophes		58,000			643			688			37,500			15,000			5,500			45			643			-			-			15,846
Total incurred losses and LAE		1,212,699			909,203			1,247,720			401,162			401,339			410,198			338,517			321,303			311,548			276,352			240,526
Commission and brokerage		229,224			214,387			303,479			72,081			78,977			78,166			89,092			71,978			75,572			66,837			71,659
Other underwriting expenses		250,695			204,945			280,065			87,542			78,432			84,721			75,120			74,326			67,403			63,216			52,713
Underwriting gain (loss)	$	(64,321)	$	55,002	$	81,126		$	(24,231)	$	(18,599)	$	(21,492)	$	26,124		$	17,213	$	19,016	$	18,773	$	53,222
Loss ratio
Attritional - current year		70.7%			65.7%			66.1%			67.8%			70.7%			73.4%			67.1%			66.1%			65.8%			65.0%			65.9%
Attritional - prior year		0.3%			0.0%			-0.9%			0.0%			0.8%			0.0%			-3.1%			0.0%			0.0%			0.0%			-12.2%
Catastrophes		3.6%			0.1%			0.0%			7.0%			2.8%			1.0%			0.0%			0.1%			0.0%			0.0%			3.8%
Total loss ratio		74.6%			65.8%			65.2%			74.8%			74.3%			74.4%			64.0%			66.2%			65.8%			65.0%			57.5%
Commission and brokerage ratio		14.0%			15.5%			15.9%			13.4%			14.6%			14.2%			16.8%			14.8%			16.0%			15.7%			17.1%
Other underwriting expense ratio		15.4%			14.7%			14.7%			16.3%			14.5%			15.3%			14.3%			15.4%			14.2%			14.9%			12.7%
Combined ratio		104.0%			96.0%			95.8%			104.5%			103.4%			103.9%			95.1%			96.4%			96.0%			95.6%			87.3%
Ratios excluding reinstatement premium impact
Attritional loss ratio - current year		70.6%			65.6%			66.0%			67.8%			70.7%			73.4%			67.1%			65.9%			65.8%			65.0%			65.9%
Attritional combined ratio		100.0%			95.9%			96.5%			97.6%			99.8%			102.9%			98.1%			96.0%			96.0%			95.6%			95.7%

(Some amounts may not reconcile due to rounding.)

Financial Supplement

Page 7 of 12

EVEREST RE GROUP, LTD. Segment Results (cont.) (Dollars in thousands) (unaudited)

TOTAL INSURANCE

					Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Gross Written Premium by Line of Business
Accident and Health	$	284,217	$	251,472	$	336,806		$	88,597	$	87,166	$	108,454	$	85,334		$	86,118	$	81,877	$	83,477	$	66,524
Specialty Casualty		721,664			566,654			789,630			235,525			251,237			234,902			235,066			188,560			195,455			170,550			167,132
Other Specialty		118,536			113,278			151,049			36,872			36,289			45,375			33,767			42,497			41,515			33,269			26,326
Professional Liability		366,081			267,829			400,605			113,860			138,514			113,707			124,691			94,533			108,729			72,652			88,011
Property/Short Tail		452,033			395,737			530,585			124,750			203,330			123,953			134,847			127,573			175,625			92,540			91,668
Workers' Compensation		386,202			423,757			568,800			105,039			114,454			166,709			145,043			127,321			153,867			142,569			142,710
	$	2,328,733	$	2,018,727	$	2,777,475		$	704,643	$	830,990	$	793,100	$	758,748		$	666,602	$	757,068	$	595,057	$	582,371
Percentage of Gross Written Premium by Line of Business
Accident and Health		12.2%			12.5%			12.1%			12.6%			10.5%			13.7%			11.2%			12.9%			10.8%			14.0%			11.4%
Specialty Casualty		31.0%			28.0%			28.4%			33.4%			30.2%			29.6%			31.0%			28.3%			25.8%			28.7%			28.7%
Other Specialty		5.1%			5.6%			5.4%			5.2%			4.4%			5.7%			4.5%			6.4%			5.5%			5.6%			4.5%
Professional Liability		15.7%			13.3%			14.5%			16.2%			16.7%			14.4%			16.4%			14.2%			14.4%			12.2%			15.1%
Property/Short Tail		19.4%			19.6%			19.1%			17.7%			24.4%			15.6%			17.8%			19.1%			23.2%			15.6%			15.8%
Workers' Compensation		16.6%			21.0%			20.5%			14.9%			13.8%			21.0%			19.1%			19.1%			20.3%			23.9%			24.5%
		100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%			100.0%

(Some amounts may not reconcile due to rounding.)

Financial Supplement

Page 8 of 12

EVEREST RE GROUP, LTD.

Supplemental Investment Portfolio Analysis (Dollars in thousands)

(unaudited)

INVESTMENTS AND CASH
			At September 30, 2020						At December 31, 2019
					Cost/
				Amortized Cost		Pre-tax									Pre-tax
				Less Allowances		Unrealized						Cost/		Unrealized
Investments and cash:		Market Value		for Credit losses	Gains/(Losses)			Market Value		Amortized Cost	Gains/(Losses)
Fixed maturities-available for sale, at market value	$	17,856,377		$	17,111,773		$	744,604		$	16,824,944		$	16,473,491		$	351,453
Fixed maturities-available for sale, at fair value		3,748			3,748			-			5,826			5,826			-
Equity securities, at fair value		1,173,162			1,173,162			-			931,457			931,457			-
Other invested assets		1,911,757			1,911,757			-			1,763,531			1,763,531			-
Short-term investments		1,220,753			1,221,198			(445)			414,706			414,639			67
Cash		938,881			938,881			-			808,036			808,036			-
Total	$	23,104,678		$	22,360,519		$	744,159		$	20,748,500		$	20,396,980		$	351,520
FIXED INCOME AND CASH
Fixed income investments and cash:		Market Value			% of Total					Market Value			% of Total
Fixed maturities-available for sale, at market value	$	17,856,377			89.2%					$	16,824,944			93.2%
Fixed maturities-available for sale, at fair value		3,748			0.0%						5,826			0.0%
Short-term investments		1,220,753			6.1%						414,706			2.3%
Cash		938,881			4.7%						808,036			4.5%
Total	$	20,019,759			100.0%					$	18,053,512			100.0%
								Pre-tax									Pre-tax
								Unrealized									Unrealized
Investment Sectors:		Market Value			% of Total	Gains/(Losses)			Market Value			% of Total	Gains/(Losses)
Treasury	$	1,452,003			7.3%		$	64,521		$	1,515,803			8.4%		$	26,143
Agency		5,001			0.0%			(1)			460			0.0%			(1)
Corporate		6,800,348			34.0%			296,697			6,374,486			35.2%			147,286
Mortgage-backed securities
Agency		2,118,653			10.6%			73,816			2,198,581			12.2%			25,482
Non-agency residential		2,520			0.0%			(39)			5,703			0.0%			(20)
Commercial		969,320			4.8%			76,321			844,557			4.7%			29,987
Asset-backed securities		1,338,202			6.7%			11,284			897,333			5.0%			4,960
Municipal		543,283			2.7%			28,496			536,915			3.0%			29,562
Non-US		4,630,795			23.1%			193,509			4,456,932			24.7%			88,054
Cash & short-term investments		2,159,634			10.8%			(445)			1,222,742			6.8%			67
Total	$	20,019,759			100.0%		$	744,159		$	18,053,512			100.0%		$	351,520
Credit Quality:		Market Value			% of Total					Market Value			% of Total
AAA	$	8,644,036			43.2%					$	7,702,103			42.7%
AA		2,612,526			13.0%						2,564,038			14.2%
A		4,588,439			22.9%						3,986,809			22.1%
BBB		2,823,770			14.1%						2,457,850			13.6%
BB		743,214			3.7%						722,406			4.0%
B		230,372			1.2%						265,441			1.4%
Rated Below B		41,046			0.2%						17,708			0.1%
Other		336,356			1.7%						337,157			1.9%
Total	$	20,019,759			100.0%					$	18,053,512			100.0%

Financial Supplement

Page 9 of 12

EVEREST RE GROUP, LTD.

Supplemental Investment Portfolio Analysis (cont.) (Dollars in thousands)

(unaudited)

FIXED INCOME AND CASH (cont.)
		September 30, 2020			December 31, 2019
					Unrealized						Unrealized
Top 20 Largest Corporate Fixed Income Positions:		Market Value			Gain / (Loss)	Top 20 Largest Corporate Fixed Income Positions:		Market Value			Gain / (Loss)
Apple Inc.	$	128,251	$	4,537	Apple Inc.	$	126,376	$	1,179
Toyota Motor Credit Corporation		106,553			5,376	Wells Fargo & Company		105,306			1,268
Wells Fargo & Company		102,007			2,772	Toyota Motor Credit Corporation		104,202			3,476
Citigroup Inc.		100,466			3,827	Citigroup Inc.		84,783			2,261
Daimler AG		97,148			4,544	Bank of America Corporation		84,555			2,847
Goldman Sachs Group Inc.		94,107			(164)	Daimler AG		83,806			2,617
Bank of America Corporation		93,434			5,834	BMW Group		79,707			1,358
Caterpillar Financial Services Corporation		83,074			6,831	Lloyds Banking Group plc		79,510			2,243
BMW Group		80,848			2,696	International Business Machines Corporation		71,373			965
JPMorgan Chase & Co.		73,050			6,780	Portfolio Advisors, L.L.C.		70,649			-
International Business Machines Corporation		73,020			2,478	Caterpillar Financial Services Corporation		69,986			4,987
Portfolio Advisors, L.L.C.		70,649			-	The Bank of New York Mellon		69,347			3,658
European Investment Bank		69,544			3,872	The Royal Bank of Canada		69,141			81
The Bank of New York Mellon		69,343			6,959	Truist Financial Corporation		68,957			2,028
Massachusetts Mutual Life Insurance Company		69,179			4,749	JPMorgan Chase & Co.		67,266			4,204
The Walt Disney Company		69,016			3,875	Goldman Sachs Group Inc.		66,904			546
The Royal Bank of Canada		68,594			1,180	Massachusetts Mutual Life Insurance Company		66,640			2,057
CPPIB Capital Inc		66,316			6,219	Deere & Company		65,809			918
Deere & Company		66,173			3,174	Sumitomo Mitsui Financial Group, Inc.		64,538			1,051
The Coca-Cola Company		66,158			4,278	The Toronto-Dominion Bank		64,201			1,860
Total	$	1,646,930	$	79,817	Total	$	1,563,056	$	39,604

Financial Supplement

Page 10 of 12

EVEREST RE GROUP, LTD.

Supplemental Investment Portfolio Analysis (cont.) (Dollars in thousands)

(unaudited)

EQUITIES AT FAIR VALUE
	September 30, 2020		December 31, 2019
Top 20 Largest Individual Equity Positions:		Fair Value	Top 20 Largest Individual Equity Positions:		Fair Value
Houston International Insurance Group	$	22,083	The Westaim Corporation	$	12,581
Meituan Dianping		13,531	Accenture plc		10,695
Microsoft Corporation		12,387	Microsoft Corporation		8,041
The Westaim Corporation		10,648	Gilead Sciences, Inc.		7,900
Adobe Inc.		10,626	Merck & Company, Inc.		7,883
Square, Inc.		9,475	Philip Morris International, Inc.		7,575
Reckitt Benckiser Group plc		9,288	Thermo Fisher Scientific Inc.		7,176
Idexx Laboratories, Inc.		9,277	Reckitt Benckiser Group plc		7,171
Thermo Fisher Scientific Inc.		8,931	Abbott Laboratories		6,395
Abbott Laboratories		8,509	Mastercard Incorporated		6,298
Danaher Corporation		8,259	Danaher Corporation		6,077
Accenture plc		8,154	PepsiCo, Inc.		5,758
Mastercard Incorporated		8,147	Adobe Inc.		5,711
PayPal Holdings, Inc.		8,078	Cigna Corporation		5,479
Philip Morris International, Inc.		7,821	Idexx Laboratories, Inc.		5,458
The Procter and Gamble Company		7,615	SAP SE		5,408
NVIDIA Corporation		7,279	Nike, Inc.		5,356
Teladoc Health, Inc.		7,016	Alphabet Inc.		5,309
Alphabet Inc.		6,742	Visa Inc.		5,186
Nike, Inc.		5,789	Marriott International, Inc.		5,168
Total	$	189,655	Total	$	136,625

Financial Supplement

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EVEREST RE GROUP, LTD.

Supplemental Investment Income and Realized Capital Gains (Losses)

(Dollars in thousands)

(unaudited)

				Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
NET INVESTMENT INCOME		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Fixed maturities	$	407,946	$	383,440	$	520,291		$	136,104	$	133,918	$	137,924	$	136,851		$	130,139	$	126,593	$	126,708	$	122,774
Equity securities		11,585			12,250			19,505			4,402			3,662			3,521			7,255			4,147			4,596			3,507			6,448
Short-term investments and cash		4,356			13,497			17,619			494			1,687			2,175			4,122			3,899			5,393			4,205			5,566
Other invested assets
Limited partnerships		22,092			100,298			105,815			88,778			(88,254)			21,568			5,517			43,758			48,243			8,297			9,608
Other		(1,291)			13,565			14,117			14,742			(2,962)			(13,071)			552			7,286			3,299			2,980			6,996
Gross investment income before adjustments		444,688			523,050			677,347			244,520			48,051			152,117			154,297			189,229			188,124			145,697			151,392
Funds held interest income (expense)		10,921			9,715			13,271			684			2,021			8,216			3,556			2,325			1,422			5,968			(272)
Future policy benefit reserve income (expense)		(805)			(965)			(1,380)			(291)			(303)			(211)			(415)			(372)			(359)			(234)			(420)
Gross investment income		454,804			531,800			689,238			244,913			49,769			160,122			157,438			191,182			189,187			151,431			150,700
Investment Expenses		34,688			30,738			42,099			10,680			11,686			12,322			11,361			10,124			10,159			10,455			10,496
Net investment income	$	420,116		$	501,062		$	647,139		$	234,233		$	38,083		$	147,800		$	146,077		$	181,058		$	179,028		$	140,976		$	140,204
				Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
Allocation of net investment income		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Reinsurance	$	294,234	$	360,987	$	458,492		$	163,903	$	26,297	$	104,034	$	97,505		$	130,442
Insurance		125,882			140,075			188,647			70,330			11,786			43,766			48,572			50,616
				Year-to-Date															Quarter-to-Date
	September 30,		September 30,		December 31,		September 30,			June 30,			March 31,		December 31,	September 30,			June 30,			March 31,		December 31,
NET REALIZED CAPITAL GAINS (LOSSES)		2020			2019			2019			2020			2020			2020			2019			2019			2019			2019			2018
Fixed maturities	$	(18,725)	$	1,625	$	9,289		$	12,963	$	5,284	$	(36,972)	$	7,664		$	(2,023)	$	1,295	$	2,353	$	(36,169)
Equity securities		101,722			105,336			169,348			95,356			177,968			(171,602)			64,012			(13,200)			29,047			89,489			(136,957)
Other Invested Assets		51			2,341			6,003			1,085			1,293			(2,327)			3,662			2,097			(152)			396			318
Short-term investments		1,215			259			364			799			103			313			105			183			82			(6)			(7)
Total net realized capital gains (losses)	$	84,263	$	109,561	$	185,004		$	110,203	$	184,648	$	(210,588)	$	75,443		$	(12,943)	$	30,272	$	92,232	$	(172,815)

Financial Supplement

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