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Everest says selective property catastrophe capacity helped it outperform

On its Q2 2026 earnings call, the insurer said property catastrophe rates in the market fell about 15% to 20% while Everest’s risk-adjusted portfolio was down 10%.

Reported · Written up by our desk · Reinsurance

Everest Group, Ltd. said its selective approach to deploying property catastrophe capacity helped it outperform broader market trends at the mid-year reinsurance renewals, according to comments from CEO Jim Williamson on the company’s Q2 2026 earnings call. Williamson said property catastrophe rates across the market declined by around 15% to 20%, while Everest’s own portfolio was down 10% on a risk-adjusted basis. He tied the gap to the way Everest uses non-concurrent terms, including programs the company writes in Florida largely structured on a non-concurrent basis. Everest also said it adjusts where it participates in the “tower” based on margin and pricing and risk availability, with the company noting it moved participations during the quarter. Williamson said this included going up slightly rather than down to seek higher rates. The company linked its capacity shifts to premium outcomes, saying Reinsurance Treaty premiums fell by 9.1% in Q2 2026. Everest added that the Reinsurance Treaty gross written premium decline was driven by decreases in Casualty XOL, Casualty Pro-Rata, Property Non-Catastrophe XOL, and Property Catastrophe XOL, after accounting for reinstatement premium.

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