Everest Group Q2 net income falls on lower premiums, higher catastrophe losses

Everest

29/07/2026 21:38

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Overview
    * Global property and casualty reinsurer's Q2 adjusted EPS beat analyst expectations
    * Net income and net operating income declined year-over-year
    * Company repurchased $395 mln of common shares during the quarter

Outlook
    * Everest Group says focus remains on profitably developing core businesses and deploying capital

Result Drivers
    * LOWER PREMIUMS - Gross written premiums in core businesses fell 7.1% year-over-year, led by declines in Reinsurance Treaty segment, mainly from casualty and property lines
    * HIGHER CATASTROPHE LOSSES - Catastrophe losses rose versus prior year, driven by the Iran War and several mid-sized global events
    * PORTFOLIO MIX IMPROVEMENT - Global Wholesale & Specialty segment saw improved attritional loss ratio due to changes in business mix and portfolio quality

Company press release:  ID:nBw35bnXRa 
Key Details
 Metric    Beat/Mis  Actual    Consensu
           s                   s
                               Estimate
 Q2        Beat      $14.85    $14.39
 Adjusted                      (17
 EPS                           Analysts
                               )
 Q2 EPS              $14.22     
 Q2 Net              $559 mln   
 Income                        
 Q2                  92.00%     
 Combined                      
 Ratio                         
 Q2                  $585 mln   
 Operatin                      
 g Income                      
 Analyst Coverage
    * The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"
    * The average consensus recommendation for the reinsurance peer group is "buy."
    * Wall Street's median 12-month price target for Everest Group Ltd is $390.00, about 2.2% below its July 28 closing price of $398.70
    * The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads
    * July 28 - Arch Capital's quarterly profit hit by softer underwriting, higher catastrophe losses
    * July 28 - Bermuda's AXIS Capital Q2 net income rises, operating profit drops
    * July 27 - Cincinnati Financial Q2 adjusted EPS misses estimates on higher catastrophe losses 

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)