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Everest Group posts $317 million underwriting income as premiums shrink

The insurer reported a 90% combined ratio for reinsurance and wholesale specialty, even as gross written premium fell 7.1% to $3.7 billion.

Thursday, July 30, 2026 · Written up by our desk · Industry & Deals

Everest Group said its core businesses generated $317 million in pre-tax underwriting income in the second quarter of 2026, helped by a 90% combined ratio from its reinsurance treaty and global wholesale and specialty segments.

The company reported net income of $559 million for the quarter and net operating income of $585 million, for an annualized net operating income return on equity of 14.9%. Book value per share rose to $398.83 from $379.83 at year-end 2025 as the group continued a planned contraction in premium volume.

Everest wrote $3.7 billion in gross written premium, down 7.1% on a comparable basis year on year. Its reinsurance treaty segment fell 9.1% to $2.7 billion, while global wholesale and specialty declined 1% to $958 million.

Catastrophe losses were $75 million, primarily tied to losses from the Iran War and mid-sized events globally. Everest reported a 92% group combined ratio versus 90.4% a year earlier, and it repurchased $395 million of common shares during the quarter and $725 million year to date.

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