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Everest Group reports $559m net income as reinsurance premiums fall
Net income declined from $680 million a year earlier as gross written premium in core businesses dropped 7.1% to $3.7 billion.
Bermuda-based re/insurer Everest Group, Ltd. reported second-quarter 2026 net income of $559 million, with gross written premium from its core businesses falling 7.1% year on year to $3.7 billion, according to Reinsurance News.
The decline was driven primarily by a 9.1% drop in its Reinsurance Treaty arm, where the company attributed the movement to lower volumes in several lines including Casualty XOL, Casualty Pro-Rata, Property Non-Catastrophe XOL, and Property Catastrophe XOL, partially offset by an increase in Property Pro-Rata.
Everest said pre-tax underwriting income for the group was $281 million and the combined ratio for its core businesses rose to 90% from 87% last year, as pre-tax net catastrophe losses increased to $85 million. Within Reinsurance Treaty, underwriting income was $283 million with a combined ratio of 88.5%, up from 84.9% a year earlier.
In the Global Wholesale & Specialty segment, Everest’s GWP fell 1% to $958 million, while catastrophe losses totaled $10 million, net of estimated recoveries and reinstatement premiums. Everest President and CEO Jim Williamson said the quarter reflected contributions from underwriting income and investments, with an annualized total shareholder return of 16.8%.