Everest Group Q2 Net Income Drops to $559M as Premiums Shrink; Core Combined Ratio Hits 90%
EG sits 30% above its 52-week low of $302.44.
Summary
Everest Group posted Q2 2026 net income of $559 million, down from $680 million a year earlier, as gross written premiums from core businesses contracted 7.1%. The core combined ratio rose to 90.0%, but solid underwriting income and $395 million in share repurchases helped drive a 16.8% annualized total shareholder return.
Key Events · Earnings and Guidance · EG
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Net Income Declines 18%
Driven by lower premiums and higher catastrophe losses, Q2 2026 net income came in at $559 million ($14.22 per diluted share), compared with $680 million ($16.10 per diluted share) in Q2 2025.
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Core Premiums Contract 7.1%
On a comparable basis, gross written premiums from Core businesses—Reinsurance Treaty and Global Wholesale & Specialty—fell to $3.7 billion, with Reinsurance Treaty down 9.1% and Global Wholesale & Specialty off 1.0%.
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Core Combined Ratio Rises to 90.0%
The core combined ratio increased 3.0 points to 90.0%, as Reinsurance Treaty reached 88.5% (up 3.6 points) and Global Wholesale & Specialty held at 95.2%. Catastrophe losses contributed 2.7 points to the deterioration.
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Aggressive Share Repurchases
During the quarter, Everest repurchased $395 million of common shares (1.2 million shares), helping to produce a 16.8% annualized total shareholder return and a book value per share of $398.83.
Analysis · EG · Finance
Second-quarter net income at Everest Group fell to $559 million from $680 million a year ago, pressured by a 7.1% decline in gross written premiums across its core reinsurance and specialty insurance operations. The core combined ratio climbed to 90.0% from 87.0%, reflecting higher catastrophe losses and expense ratios. Even with top-line headwinds, underwriting income held firm at $317 million, and the company bought back $395 million in shares, lifting book value per share to $398.83. The results underscore disciplined underwriting in a softening market, though the premium contraction and elevated combined ratio merit close monitoring.
At the time of this filing, EG was trading at $393.89 on NYSE in the Finance sector, with a market capitalization of approximately $15.6B. The 52-week trading range was $302.44 to $401.07. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.