Everest Group has reported net income for Q2 of approximately £512m, down on the £545m generated in the same period the previous year. It said gross written premium in its insurance business for Q2 was down by 3.1% on last year and stood at around £1.1bn. Its combined ratio of 102% has deteriorated from the 92.9% achieved in Q2 last year.

Jim Williamson, president and CEO of Everest, said: “In Insurance, the execution of our 1-Renewal Strategy is nearly complete, positioning our portfolio to generate improved results over time. As we move through the second half of 2025, we are squarely focused on execution, while at the same time, actively managing our capital to benefit shareholders.”

Everest’s reinsurance operations delivered gross written premium of approximately £2.4bn in Q2, which was and increase of 1.1% on the previous year. Its combined ratio of 85% was an improvement of 3.3% on Q2 2024.

Williamson added: “Our Reinsurance business continues to deliver outstanding results, further supported by favourable reserve development this quarter.”