Everen Announces $350 Million Dividend
Everen Limited has declared a dividend of $350 million, reinforcing its ongoing commitment to delivering substantial value to its shareholders. The announcement was made at the company’s Annual General Meeting (AGM) held on Thursday, March 20, 2025, in Bermuda, where shareholders gathered to hear the latest updates from the company’s leadership.
The $350 million dividend will be payable on or before September 30, 2025, to shareholders who are on record as of March 20, 2025. This marks yet another significant step in Everen’s strategy of returning value to its stakeholders, further emphasizing its financial strength and commitment to rewarding loyal investors.
A Record Year for Everen
Robert Foskey, President & CEO of the Everen Group, expressed his enthusiasm about the company’s performance, highlighting an exceptionally strong year in 2024. He emphasized that Everen had achieved some of its best-ever financial results, driven by robust investment performance and relatively modest incurred losses.
“We closed out the year with some of our best-ever results, driven by strong investment performance and modest incurred losses,” said Mr. Foskey. “Everen continues to go from strength to strength, and we are proud to deliver continued value to our shareholders.”
Mr. Foskey took the opportunity to share that this marks the twelfth consecutive year that Everen has declared a substantial dividend. Over this period, the company has returned more than $3.8 billion in dividends to its shareholders. This consistent dividend policy, coupled with Everen’s disciplined approach to capital management, has positioned the company to maintain its trajectory of delivering shareholder returns year after year.
Everen’s Growth and Expanding Membership
In addition to the impressive financial results, Mr. Foskey also highlighted the company’s growth in terms of membership. Everen closed 2024 with its highest membership count since 2005, bringing the total number of members to 72 worldwide. In 2024 alone, five new members joined the group, reflecting Everen’s continued appeal and strength in the global energy insurance sector.
At the AGM, Everen’s shareholders also elected the company’s Board of Directors, who will serve until the March 2026 AGM. Mr. John Weisner was elected as Chair, and Mr. Brian Mullen was elected Vice Chair, marking an important step in Everen’s leadership and governance.
The Everen Group’s Shareholder Conference
The AGM was preceded by a two-day Shareholder Conference held from March 18-19, 2025, at the prestigious Hamilton Princess in Bermuda. This conference, which is the flagship event of the Everen Group, is Bermuda’s largest energy insurance event. The conference saw more than 90 representatives from energy companies around the world, including those from the Americas, Europe, and as far afield as Australia, New Zealand, and Japan.
The event featured expert speakers from diverse fields, including energy, earth systems science, climate change litigation, and risk management. The discussions centered around some of the most pressing topics in the energy sector, such as carbon capture, the energy transition, and climate attribution. The conference served as a vital platform for industry professionals to share insights and explore emerging issues affecting the global energy market.
About Everen Group
The Everen Group is a collection of leading energy insurance companies based in Bermuda. It includes two distinct but complementary operating companies: Everen and Everen Specialty. Everen is the world’s largest energy insurance mutual company and has been in operation for over 50 years. As a pure mutual, Everen is entirely owned by its member shareholders, and its underwriting is supported 100% by its own balance sheet, without relying on third-party capital. The company offers up to $450 million of per-occurrence limits, providing comprehensive insurance coverage to its members.
Everen Specialty, a subsidiary of Everen, operates as an industry-owned commercial (re)insurer, offering property and casualty insurance and reinsurance for both members and non-members. Additionally, Everen Specialty has a subsidiary, OCIL Specialty, Ltd (OSL), which writes U.S. surplus lines business through its managing general agent, OSL Insurance Services (OISI), based in Houston, Texas.
Everen’s robust operational model and diverse offerings have allowed it to become a dominant force in the energy insurance sector, ensuring the continued growth and stability of the company and its members. With a commitment to innovation and a focus on delivering consistent financial returns, Everen is poised for continued success in the years to come.
As Everen continues to expand its membership base and strengthen its financial standing, its latest $350 million dividend declaration serves as a testament to the company’s solid foundation and its unwavering focus on creating long-term value for its stakeholders.
