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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“In October, we were very pleased to announce renewal rights deal for Everest's global retail insurance portfolio.”
AIG acquired the renewal rights to Everest's global retail insurance portfolio (~$1.8B premium), a read-through that Everest is exiting/handing off its global retail insurance book.
“we also announced our acquisition of the renewal rights for the majority of Everest's core retail commercial property and casualty portfolios, representing approximately $2 billion of gross premiums written across multiple geographies.”
AIG acquired renewal rights to roughly $2 billion of Everest's retail commercial P&C book, a read-through on Everest exiting/remediating those lines.
“we sold the renewal rights to our European, U.S. and Asian commercial retail insurance businesses to AIG for a total consideration of $426 million, including the transition services agreement.”
Everest divested the renewal rights to its commercial retail insurance business to AIG for $426M, a read-through on AIG expanding its commercial retail book.
“I was really, really glad that we were able to do this transaction with Longtail Re, which I'm sure you're familiar with that team and Mike Sapnar.”
Longtail Re provided Everest's $1.2 billion adverse development cover on legacy casualty reserves, a sizable reinsurance transaction won by Longtail Re.
“we sold the renewal rights of our U.S., U.K., European and Asia Pacific commercial retail insurance business to AIG.”
Everest divested the renewal rights to its global commercial retail insurance business (~$2 billion GWP) to AIG, a portfolio acquisition that expands AIG's commercial book.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Josh Shanker | Bank of America | 13 (31%) |
| Dave Motemaden | Evercore ISI | 12 (8%) |
| Meyer Shields | KBW |
“The Edison International is pretty much acknowledging that they're going to have some capability in the event of the Eaton Fire.”
Edison International's acknowledged liability exposure for the Eaton Fire is a source of potential subrogation recoveries for Everest, whose reinsurance book absorbed the bulk of the California wildfire losses this quarter.
“Well, it's fundamental to offer the A+ financial strength rating and that's clearly secure, not in danger at all. The S&P negative outlook is something we respect. We'll work with them not something that concerns us very much but clearly something we have to manage.”
S&P revised its outlook on Everest to negative; management says its A+ financial strength rating is secure and it will work with S&P but is not overly concerned.
| Alex Scott | Barclays | 12 (8%) |
| Mike Zaremski | BMO Capital Markets | 10 (0%) |
| Elyse Greenspan | Wells Fargo | 10 (10%) |
| Greg Peters | Raymond James | 10 (20%) |
| Brian Meredith | UBS | 10 (0%) |
| Andy Andersen | Jefferies | 8 (0%) |
| Tracy Benguigui | Wolfe Research | 6 (33%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wells Fargo | 3 | 14 (7%) |
| Bank of America | 1 | 13 (31%) |
| Evercore ISI | 1 | 12 (8%) |
| KBW | 1 | 12 (0%) |
| Barclays | 1 | 12 (8%) |
| UBS | 1 | 10 (0%) |
| BMO Capital Markets | 1 | 10 (0%) |
| Raymond James | 1 | 10 (20%) |
Everest posted Q4 operating income of $549M with a 14.2% operating return on equity, as the combined ratio settled at 98.4% including 5.6 points of catastrophe losses. Gross written premiums fell 8.6% in constant dollars driven by the global retail insurance exit and AIG renewal rights transition. The company executed $400M in Q4 buybacks plus $100M in January, while 1/1/26 property cat renewal rates declined approximately 10% globally.
Capital Allocation | Pricing | Competitive Dynamics | Credit | Margin | Guidance Reliability | Revenue Growth | Macroeconomic | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 3 | 9 | 2 | 4 | 3 | 1 | 4 |
| 2025Q1 | 4 | 8 | 6 | 5 | 4 | 3 | 3 | 1 |
| 2025Q2 | 6 | 7 | 5 | 6 | 8 | 3 | 1 | |
| 2025Q3 | 10 | 3 | 4 | 10 | 4 | 5 | 1 | 1 |
| 2025Q4 | 7 | 5 | 4 | 4 | 6 | 6 | 3 | |
| 2026Q1 | 5 | 8 | 5 | 4 | 4 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Capital Allocation | 4 | 4 | 6 | 10 | 7 | 5 |
| Pricing | 3 | 8 | 7 | 3 | 5 | 8 |
| Competitive Dynamics | 9 | 6 | 5 | 4 | 4 | 5 |
| Credit | 2 | 5 | 6 | 10 | 4 | 4 |
| Margin | 4 | 4 | 8 | 4 | 6 | 4 |
| Guidance Reliability | 3 | 3 | 5 | 6 | ||
| Revenue Growth | 1 | 3 | 3 | 1 | 3 | |
| Macroeconomic | 4 | 1 | 1 | 1 | 2 |