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

Everest

29/07/2026 21:38

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/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$14.85
$14.39 (17 Analysts)
Q2 EPS
 
$14.22
 
Q2 Net Income
 
$559 mln
 
Q2 Combined Ratio
 
92.00%
 
Q2 Operating Income
 
$585 mln
 

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 

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(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.)