Energy insurer Everen Ltd has announced a dividend of $350 million, affirming its commitment to delivering value to its shareholders.

The decision by Everen’s board of directors was announced at the firm’s annual general meeting in Bermuda.

The dividend is payable on or before September 30, 2025 to shareholders of record on March 20, 2025.

Robert Foskey, president and chief executive officer of the Everen Group, said his firm continues to do well.

“It was an exceptional year in 2024, both from a financial and operational point of view,” he said. “We closed out the year with some of our best-ever results, driven by strong investment performance and modest incurred losses.”

Addressing Everen’s shareholders, Mr Foskey said they were declaring a substantial dividend for the 12th year in a row.

“Cumulatively, over the past 12 years, we have returned over $3.8 billion in dividends to our shareholders,” he said. “Everen’s consistent financial returns, coupled with our disciplined approach to capital management, puts us in a solid position to return value to our shareholders year after year.”

Mr Foskey also noted that the company closed out the year with the highest number of members since 2005, with five new members joining in 2024, bringing the total to 72 worldwide.

At the meeting, shareholders elected Everen’s board of directors who will serve until the March 2026 AGM, including John Weisner as chair and Brian Mullen as vice chair.

The AGM followed a two-day shareholder conference, at the Hamilton Princess & Beach Club.

The Everen Group’s flagship conference is Bermuda’s largest energy insurance event with more than 90 energy company representatives attending from the Americas, Europe and as far afield as Australia, New Zealand and Japan.

Experts in energy, earth systems science, climate change litigation and risk management spoke on the latest trends and emerging issues in the energy sector, including carbon capture, energy transition and climate attribution.

Everen is the largest energy insurance mutual company in the world, operating for over 50 years and acting as a pure mutual, owned by its member shareholders.