Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Everest Group's Q2 FY2026 was defined by a strategic reshaping, as the company shifted to a focused Reinsurance Treaty and Global Wholesale & Specialty model while legacy businesses ran off. The steep decline in gross written premiums—down 19.4%—was driven by the wind-down of the Legacy segment and, to a lesser extent, lower Reinsurance Treaty volume. Underwriting profitability in the core businesses remained resilient, though the consolidated combined ratio edged up 1.6 points to 92.0%, pressured by higher catastrophe losses. The quarter's results hinged on the successful execution of the business transition and contained catastrophe activity.
Revenue
$3.96B
-11.80% YoY
EPS (Diluted)
$14.22
-11.68% YoY
Source: SEC XBRL
Everest Group (EG) reported Q2 FY2026 revenue of $3.96B, down 11.8% year over year. EG's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 14.85 | 14.83 | Beat +0.2% |
| Mar 2026 | 16.08 | 14.39 | Beat +11.7% |
| Dec 2025 | 13.26 | 13.56 | Miss -2.2% |
| Sep 2025 | 7.54 | 14.82 | Miss -49.1% |
Adjusted (non-GAAP) EPS of $14.85 versus the $14.83 analyst consensus — a +0.2% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $14.22.
Compiled by AI from 10-Q Item 2 of this filing
Effective January 1, 2026, Everest reorganized into three reportable segments—Reinsurance Treaty, Global Wholesale & Specialty, and Legacy—following the sale of renewal rights for its commercial retail insurance business to AIG.
Source: 10-Q Item 2 MD&A
Everest entered into an ADC with State National Insurance, transferring $1.25 billion of in-the-money reserves for accident years 2024 and prior, covering up to $1.2 billion of adverse development on North American liabilities, with a co-participation of $100 million in the second and third layers.
Source: 10-Q Item 2 MD&A
On June 17, 2026, Everest partnered with Stone Point to sponsor Annapurna Re Ltd., a Bermuda-based collateralized insurer and special purpose vehicle, with funds managed by Stone Point as anchor investors in a multi-year arrangement.
Source: 10-Q Item 2 MD&A
Everest agreed to sell its Canadian commercial retail insurance operations for C$410 million and its Colombian operations to AIG, with closings expected in H2 2026 and early 2027, respectively. Assets and liabilities are classified as held-for-sale.
Source: 10-Q Item 2 MD&A
The Bermuda Monetary Authority formally designated itself as Group Supervisor for Everest, with Bermuda Re as the designated insurer. A twelve-month transition period ending January 2027 will require compliance with new group-level solvency, capital, reporting, and prior-approval requirements.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 1 high, 3 medium, 1 low
Everest is newly subject to BMA group supervision, imposing additional solvency, capital, reporting, and prior-approval requirements. Compliance will require significant time and resources, potentially increasing costs, affecting capital structure, and leading to regulatory constraints on intercompany transactions.
Source: 10-Q Item 1A Risk Factors
The sale of commercial retail insurance operations involves complex transactions with regulatory approvals, loss portfolio transfers, and transition services. Any delays or unexpected liabilities could disrupt operations and financials.
Source: 10-Q Item 2 MD&A
Current-year catastrophe losses rose to $94 million in Q2 2026 from $20 million a year ago, driven by weather events and foreign conflicts. Future catastrophe events could materially increase claims and reduce earnings.
Source: 10-Q Item 2 MD&A
Fluctuations in the Euro, British Pound Sterling, and Israeli New Shekel have historically caused significant other expense (e.g., $134 million FX loss in H1 2025). Although H1 2026 FX loss was only $10 million, adverse movements could pressure earnings.
Source: 10-Q Item 2 MD&A
Gross written premiums fell 19.4% YoY in Q2, driven by the Legacy segment runoff and a 7.8% decline in Reinsurance Treaty. If core business volumes do not stabilize, overall revenue and earnings could continue to decline.
Source: 10-Q Income Statement (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 3.96 $B | 4.49 $B | -11.80% |
Net Income $M | 559.00 $M | 680.00 $M | -17.79% |
EPS (Basic) $ | 14.22 $ | 16.10 $ | -11.68% |
EPS (Diluted) $ | 14.22 $ | 16.10 $ | -11.68% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
EG reported Q1 FY2026 net income of $653M, surging 211% YoY despite a 4.6% revenue decline to $4.07B, driven by significantly improved profitability rather than top-line growth.
EG delivered solid FY2025 results with revenue growing 1.2% to $17.5B and net income surging 15.9% to $1.59B, though operating cash flow declined sharply by 38.1% to $3.07B.