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Octave Specialty revenue jumps in Q2 2026 as underwriting improves

The insurer lifted total revenue 51% to $83 million, while its Everspan unit cut its loss ratio to 61.4%, improving the combined ratio by more than 600 basis points year over year.

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Octave Specialty Group reported improved second-quarter 2026 results, citing stronger underwriting at its Everspan insurance business and continued growth in its insurance distribution operations, including acquisition-led expansion, according to Reinsurance News.

At Everspan, Octave Specialty said the combined ratio improved by more than 600 basis points versus the second quarter of 2025, driven by a reduction in the loss ratio to 61.4%. The unit increased net income to $1.1 million from $0.4 million a year earlier, while gross premiums written in specialty property and casualty insurance were broadly stable at $95 million, down 2% year over year.

Across the full group, total revenue rose 51% to $83 million from $55 million in the prior-year period. Octave Specialty attributed the gain primarily to its Insurance Distribution segment, reflecting the ArmadaCare acquisition alongside organic revenue growth of 44%.

Financially, Octave Specialty reported a net loss attributable to shareholders of $14.4 million for the quarter, improving from a $20.5 million loss in the second quarter of 2025. It also said adjusted EBITDA attributable to shareholders increased to $1.8 million from $0.7 million, and narrowed adjusted net loss attributable to shareholders to $1.8 million from $10.6 million.

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