Everest

Q2 FY2026 EarningsQ2 FY26 results beat consensus on both top and bottom lines, with premiums earned of $3.49B exceeding the $3.44B expected and GAAP EPS of $14.22 surpassing the $14.00 mean estimate. Underwriting strength in the Reinsurance Treaty segment (88.5% Combined Ratio) offset a significant GWP contraction (-19.4% YoY) caused by the strategic sale of renewal rights to AIG. Aggressive capital management through $395M in quarterly share repurchases provided significant support to EPS, while the successful launch of the Annapurna sidecar signaled a shift toward more capital-efficient growth.