EVEREST GROUP, LTD. — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Everest reported Q2 2026 net income of $559M ($14.22/diluted share) versus $680M ($16.10) in Q2 2025, with a 92.0% combined ratio on $3.77B gross written premium. Core business (Reinsurance Treaty + Global Wholesale) generated $317M underwriting income at 90.0% combined ratio. The company repurchased $395M of shares in Q2 (2.2M shares YTD for $725M), with book value per share rising to $398.83 from $379.83 at year-end. Gross written premium declined 19.4% overall (7.1% for Core on comparable basis), driven by premium rate compression and portfolio actions. Reinsurance Treaty premium fell 9.1% on comparable basis despite 'outperformance on rate and terms versus market.' Legacy segment (commercial retail, being sold) posted ($36M) underwriting loss.
Why this rating
Earnings down 18% YoY ($559M vs $680M); premium volume declining sharply (19.4% group, 7.1% core); ROE 14.2% below prior 18.2%, compression vs. market backdrop. At $14.3B market cap, $121M earnings miss is ~0.8% of value but trend concerning. Large capital return ($725M YTD) masks underlying business headwinds; not transformation but material deterioration.
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