PLGO

Pelagos Insurance’s second quarter saw strong revenue growth driven by new underwriting partnerships and expansion in specialty lines such as property, marine, and asset-backed financing. However, the market responded negatively to the quarter due to a significant shortfall in non-GAAP profit versus Wall Street expectations. Management attributed the underperformance to a higher-than-normal volume of large loss events, including major claims from Middle East conflict-related incidents and a gas plant explosion in Qatar. CEO Daniel Burrows described this quarter’s loss activity as “random variability and timing of losses,” emphasizing that performance should be viewed over a longer period given the nature of specialty insurance. Is now the time to buy PLGO? Find out in our full research report (it’s free). Revenue: $650 million vs analyst estimates of $639.9 million (10.3% year-on-year growth, 1.6% beat) Adjusted EPS: $0.34 vs analyst expectations of $0.88 (61.2% miss) Market Capitalization: $1.95 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Meyer Shields (KBW) questioned the profitability impact of Middle East conflict-related underwriting. CEO Daniel Burrows explained that risk was managed tightly, with business written on a per-risk basis, resulting in a historically low loss ratio despite recent volatility. David Motemaden (Evercore ISI) asked about the seasonality and expectations for catastrophe and large loss ratios. Burrows clarified the company evaluates performance on an annual basis and expects loss ratios to normalize as more premium is earned in the second half of the year. Pablo Singzon (JPMorgan) sought clarity on profitability thresholds for new underwriting partnerships. Group Managing Director Jonathan Strickle emphasized that all partners must meet or exceed existing performance hurdles and that recent partnerships had outperformed these targets. Brian Meredith (UBS) probed the impact of alternative capital in the market and Pelagos’s approach to using it. Burrows highlighted that alternative capital is enhancing outwards reinsurance programs, helping improve margin and manage volatility. Chongwook Lee (Barclays, for Alex Scott) inquired about growth in asset-backed financing and the potential for further mix shift. Strickle noted that both new and existing partners contribute to growth, with asset-backed lines expected to continue expanding, offering diversification benefits. In upcoming quarters, our analysts will monitor (1) the pace of growth and profitability from new and existing underwriting partnerships, (2) the effectiveness of outwards reinsurance strategies in reducing volatility and protecting margins, and (3) the impact of large loss activity and catastrophe exposure on combined ratio targets. Additional attention will be paid to how successfully Pelagos adapts to competitive pressures and rate changes in its core markets. Pelagos Insurance currently trades at $23.59, down from $24.32 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it’s free for active Edge members). ONE MORE THING: Top 6 Stocks for This Week. This market is separating quality stocks from expensive ones fast. AI is taking down whole sectors with no warning. In a rotation this fast, you need more than a list of good companies. Our AI system flagged Palantir before it ran 1,662% between October 2022 and February 2026. AppLovin before it ran 753% between February 2024 and February 2026. Nvidia before it ran 1,178% between January 2023 and February 2026. Each week it produces 6 new names that pass the same tests. Get Our Top 6 Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,552% between June 2020 and June 2025). Find your next big winner with StockStory today.

This article first appeared on GuruFocus. Operating Net Income: $29 million, or $0.34 per diluted common share, in Q2 2026. Six-Month Operating Net Income: $117 million, or $1.31 per diluted common share. Annualized Operating Return on Average Equity: 5.1% for Q2 2026; 10.1% for the first half of 2026. Book Value per Diluted Common Share: $26.56, up 23% year-over-year including cumulative dividends. Gross Premiums Written: $1.3 billion, up 6% versus the same quarter last year. Net Premiums Earned: $515 million in Insurance and $66 million in Reinsurance. Combined Ratio: 99.5% for Q2 2026; 93.1% for the first half of 2026; 86.4% over the last 12 months. Catastrophe and Large Losses: 27.8 points of the combined ratio, or $162 million, in Q2 2026. Attritional Loss Ratio: 28.2 points of the combined ratio for Q2 2026. Net Favorable Prior Year Development: $33 million in Q2 2026. Policy Acquisition Expenses: 32 points of the combined ratio for Q2 2026. General and Administrative Expenses: $29 million in Q2 2026. Net Investment Income: $44 million in Q2 2026. Net Income from Other Investments: $26 million in Q2 2026. Effective Tax Rate: 16% for Q2 2026. Share Repurchases: 2.8 million common shares for $60 million at an average price of $21.60 per share in Q2 2026. Capital Returned to Shareholders: $73 million in Q2 2026, including $60 million in share repurchases. Quarterly Dividend: $0.15 per share, payable in September. Warning! GuruFocus has detected 10 Warning Signs with BN. Is PLGO fairly valued? Test your thesis with our free DCF calculator. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Gross premiums written grew by over 6% in both the quarter and year-to-date, driven by strong performance from new underwriting partners and targeted deployment into attractive risk-adjusted return areas. Book value per diluted common share increased by 23% year-over-year, reflecting strong business performance and a continued focus on creating long-term shareholder value. Returned $73 million to shareholders in the quarter, including $60 million in share repurchases, which have been highly accretive to book value and earnings per share. The underwriting partnership strategy is gaining momentum, with new partners performing ahead of through-the-cycle targets and a strong pipeline of high-quality underwriting teams seeking to partner with the company. The company secured an additional whole-account quota share arrangement with a leading US insurance partner, which supports growth, optimizes capital, and validates the quality of the portfolio. The portfolio is well-positioned with stable probable maximum losses (PMLs), including a 1-in-250 California earthquake PML in the mid-single digits and a 1-in-100 Southeast, Gulf, and Caribbean clash exposure below 10% of shareholders' equity. The company demonstrated agility in capitalizing on geopolitical dislocations, such as the Middle East conflict, writing over $1 billion in war-related premium since Russia-Ukraine with a sub-20% loss ratio. Net favorable prior year development of $33 million was recognized in the quarter, indicating better-than-expected loss emergence across multiple lines of business. The company maintains a strong capital position, allowing for both growth investments and accretive capital returns, with $280 million in repurchases in the first half of 2026 contributing $0.90 to diluted book value per share. The company's leadership position in the market allows it to outperform peers in softening conditions, with rate decreases closer to single digits compared to the broader market's 15-20% decline in reinsurance cat renewals. The combined ratio for the second quarter was 99.5%, significantly higher than the first half's 93.1%, due to a higher-than-normal number of large loss events. Catastrophe and large losses were 27.8 points of the combined ratio, or $162 million, including a $60 million loss from the Middle East and a $34 million loss from the Ras Laffan gas plant explosion in Qatar. The property market remains competitive with continued rate contraction across a number of classes, requiring disciplined underwriting and selectivity that could limit growth opportunities. The company experienced a reescalation of conflicts in the Middle East and increased competition in those lines, leading to fewer risks aligning with its underwriting appetite. The policy acquisition expense ratio was higher than anticipated in the Reinsurance segment, partly due to a shift towards quota share deals which carry higher commissions. The company's growth is expected to moderate in the third quarter due to seasonality, with net earned premiums in Reinsurance expected to be between $130 million and $160 million, potentially impacting quarterly results. The company faces uncertainty in predicting future growth in Asset Backed Financing & Portfolio Credit, as other lines of business are more cyclical and dependent on market conditions. The company's operating return on average equity for the second quarter was only 5.1%, well below its through-the-cycle target of 13-15%, highlighting the impact of the volatile loss quarter. The company's effective tax rate of 16% for the quarter could be a headwind if it remains elevated, potentially impacting net income and returns. The company's reliance on outwards reinsurance to manage volatility and improve margins introduces counterparty risk and could be less effective if the retrocession market becomes less competitive. Q: How do you evaluate the underwriting profitability associated with the Middle East conflict, given the strategy to lean in and the risk of randomness and losses?A: Dan Burrows (CEO) explained that the company leveraged its capital allocator model to identify The Fidelis Partnership as the best partner to execute on the opportunity. They set a risk framework immediately and deployed capacity on a per-vessel, per-voyage, per-cargo basis, avoiding broader facilities. This first-mover advantage has resulted in a sub-20% loss ratio on this business. Jonny Strickle (Group Managing Director) added that the overall war book has written over $1 billion in premium since Russia-Ukraine with a sub-20% loss ratio, and the Middle East portfolio has performed well given their market share of over 5% in these lines. Q: How does the second quarter catastrophe and large loss ratio compare to your expectation for a typical second quarter, given the seasonality of the property book?A: Dan Burrows (CEO) stated that the company manages to an annual plan, not quarter-to-quarter. The last 12-month combined ratio is 86.4%, in line with expectations, and the first half of 2026 is running at just over 10% ROAE with a 93% combined ratio, broadly on plan. Jonny Strickle (Group Managing Director) clarified that they expect a mid-40s loss ratio overall for insurance with about a third from large and cat losses, while Reinsurance is expected to have a mid-40s loss ratio with half from big events. More dollar cat and large load is expected in the second half due to higher earned premium. Q: Can you talk about the profitability threshold applied to new underwriting partners and lines of business, and whether the same lens is applied as for existing partners?A: Jonny Strickle (Group Managing Director) confirmed that exactly the same lens is applied to new underwriting partnerships. New partners must compete with existing partners for capital deployment based on the best risk-return relationship. He noted that while it's early days, the new underwriting partners' performance is beating their through-the-cycle hurdles. Dan Burrows (CEO) added that new partners must meet or beat the existing framework, and they are pleased that this is happening. Q: Was the new whole-account quota share arrangement struck in anticipation of an uptick in gross premium growth, or was it more of a surplus management strategy?A: Jonny Strickle (Group Managing Director) explained that the arrangement was much more of a strategic relationship expected to build out and support the portfolio over the longer term. It covers all business written, whether through The Fidelis Partnership or new underwriting partners, positioning the company well to scale in either over time. Q: What are you seeing regarding the effect of alternative capital in the marketplace, and what is your approach to using it?A: Dan Burrows (CEO) noted that alternative capital is contributing to the abundant capital in the market. As a buyer, the company interacts with ILS and funds, and finds the retrocession market to be one of the most competitive. This is enhancing their outwards reinsurance program, improving margin, and managing volatility. He emphasized that alternative capital is here to stay and is helping improve their margin. Q: Can you talk about the hyperscale opportunity for data center build-out and the company's approach?A: Jonny Strickle (Group Managing Director) stated that the company continues to see this as an attractive opportunity but maintains a "pretty vanilla" risk appetite, sticking to construction risk and avoiding chips business interruption. Since data center build-out is driving economic growth, particularly in the US, the company will continue to participate where it can do so in a vanilla way. Q: Given the current market dynamics, should we be thinking consensus ROAEs are at the very low end of the range for the foreseeable future?A: Dan Burrows (CEO) expressed confidence in the guidance around ROAE and combined ratios. The last 12 months' combined ratio of 86.4% demonstrates the ability to deliver target metrics through a more competitive environment. Halfway through the year, the company is on plan, and with more premium earned in Q3 and Q4, they expect to achieve their targets of 13% to 15% ROAE and mid-to-high 80s combined ratio. He noted that while the market is more competitive, the bifurcation between lead and follow markets is being managed through improved outwards reinsurance. Q: Is there still an opportunity for share buybacks in the private market versus the public market on a go-forward basis?A: Allan Decleir (CFO) confirmed that in the first half of the year, the company repurchased $280 million worth of shares, with $216 million through privately negotiated transactions with existing institutional shareholders. While they don't comment on shareholders' aspirations, they will continue to talk to private shareholders when they come to them, but will focus on the open market for now. Q: Was there any growth coming from existing partners in the Asset Backed Financing & Portfolio Credit line, or was it all from new partnerships?A: Jonny Strickle (Group Managing Director) explained that the company has been growing consistently with The Fidelis Partnership in this line over the last few years and expects to continue. The new partnership targets a slightly different client base with a different geographical focus, making it complementary to The Fidelis Partnership. Both opportunities outside and within The Fidelis Partnership are being pursued. Q: How has the bifurcation between lead and follow markets evolved over the last 6 to 12 months, and how durable is it?A: Dan Burrows (CEO) noted that at midyear reinsurance cat renewals, rates are down 15% to 20% per broker estimates. However, by leveraging their lead position, enhanced outwards reinsurance structure, and ability to pivot capacity, the company is outperforming this metric, with rate decreases closer to single digits. He stated that the spread between lead and follow markets has widened over the last 12 months, and being a leader provides a distinct, differentiated advantage. Q: Given the quarter's losses, is there any change in frequency assumptions or pricing and portfolio construction going forward?A: Jonny Strickle (Group Managing Director) stated there is no change in frequency assumptions. The company expects three or For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Fidelis Insurance Holdings Limited? Here are five stocks we like better. Second-quarter profitability was pressured by large losses: Operating net income was $29 million, or $0.34 per diluted share, while the combined ratio rose to 99.5% due to $162 million in catastrophe and large losses. Management said the elevated losses reflected timing variability, and reaffirmed its mid-40% overall loss-ratio outlook. Premiums continued to grow through specialty lines and partnerships: Gross written premiums increased 6% year over year to $1.3 billion, led by property, marine, asset-backed finance and portfolio credit. Management maintained its 2026 target for mid-single-digit premium growth despite pricing pressure in some markets. Capital returns remained significant: Pelagos returned $73 million to shareholders during the quarter, including $60 million in share repurchases, and maintained its $0.15 quarterly dividend. First-half repurchases totaled $280 million and contributed $0.90 to diluted book value per share. Fidelis Insurance (NYSE:FIHL), operating as Pelagos Insurance Capital, reported second-quarter operating net income of $29 million, or $0.34 per diluted common share, as higher large-loss activity pushed its quarterly combined ratio to 99.5%. For the first six months of 2026, operating net income totaled $117 million, or $1.31 per diluted common share, while annualized operating return on average equity was 10.1%, Chief Financial Officer Allan Decleir said. Book value per diluted common share rose to $26.56, and including cumulative dividends, increased 23% over the past 12 months. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Chief Executive Officer Dan Burrows said the quarter was the company’s first under the Pelagos Insurance Capital name and that the rebrand had increased clarity around its strategy as a capital allocator. He said the company is seeing wider interest from underwriting teams and an increased pipeline of partnership opportunities. Gross premiums written increased 6% from a year earlier to $1.3 billion in the second quarter. Burrows said insurance growth was led by property, marine, asset-backed finance and portfolio credit, while the reinsurance segment expanded through targeted deployment in areas with attractive risk-adjusted returns. → Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Net premiums earned totaled $515 million in insurance and $66 million in reinsurance. For the third quarter, Decleir said Pelagos expects insurance net earned premiums to remain similar to the second quarter, while reinsurance net earned premiums are expected to range from $130 million to $160 million. The company earns a larger share of its reinsurance premium in the third and fourth quarters because of its exposure to wind perils, management said. → On Holding's Price Stumble May Be an Opening for a Company Built to Run Property growth included expanded business with bundled insurance, Burrows said. He added that the company remained selective in classes where pricing no longer met its return requirements, even as it sought new opportunities through its network of underwriting partners. Marine, political-risk and political-violence business saw stronger demand and favorable pricing amid geopolitical uncertainty in the Middle East. Burrows said Pelagos deployed capital selectively, but has become more cautious as conflict re-escalated and competition increased in those lines. During the question-and-answer session, Burrows said Middle East business written since the conflict began this year had operated at a loss ratio below 20%. Group Managing Director Jonny Strickle said the company’s broader war book, including business written since the Russia-Ukraine conflict, has generated more than $1 billion in premium at a sub-20% loss ratio. Catastrophe and large losses accounted for 27.8 points of the quarterly combined ratio, or $162 million. The two largest events were a $60 million loss related to the Middle East and a $34 million loss from the gas plant explosion at the Ras Laffan facility in Qatar, Decleir said. Other large losses affected the company’s property and marine lines. Management characterized the quarter’s elevated loss activity as variability in the timing of losses rather than evidence of a sustained increase in loss frequency or severity. The combined ratio was 93.1% for the first half and 86.4% over the trailing 12 months. Attritional losses represented 28.2 points of the quarterly combined ratio. Over the past four quarters, the insurance segment’s average attritional loss ratio was 30.4%, which Decleir said was in line with long-term expectations. The company recorded $33 million of net favorable prior-year reserve development during the quarter, compared with $89 million of adverse development in the prior-year period. Decleir attributed the favorable development to better-than-expected loss emergence in several insurance lines and continued positive development in reinsurance. Management reaffirmed its expectation for a mid-40% overall loss ratio. For insurance, it expects roughly two-thirds of losses to be attritional and one-third to come from catastrophe and large-loss events. In reinsurance, attritional and catastrophe-related losses are expected to be more evenly divided. Pelagos returned $73 million to shareholders during the quarter, including $60 million used to repurchase 2.8 million common shares at an average price of $21.60 each. The buybacks included 1.4 million shares acquired in privately negotiated transactions with Pine Brook. During the first half, the company repurchased $280 million of shares, which Decleir said contributed $0.90 to diluted book value per share. Since the share repurchase program began in 2024, repurchases have added $2.14 to diluted book value per share, according to the company. Pelagos also maintained its quarterly dividend and announced a $0.15 per-share dividend payable in September. Net investment income was $44 million, consistent with the prior quarter. As of June 30, 91% of the investment portfolio was held in cash and fixed-maturity securities, with an average yield of 4.5%. Fixed-maturity securities carried an average A+ rating, a 2.9-year average duration and a 4.7% new-money yield. Burrows said insurance and reinsurance markets remain bifurcated, with increased capacity creating rate pressure in certain classes. However, he said Pelagos’ position as a lead market has helped it retain attractive business and achieve more favorable outcomes than follow markets. At midyear catastrophe reinsurance renewals, management said market rates were reportedly down 15% to 20%, while Pelagos experienced declines closer to single digits because of its lead position, ability to restructure programs and outward reinsurance strategy. The company said it has shifted some reinsurance capacity toward quota-share arrangements from excess-of-loss business where pricing remained attractive. It also secured an additional whole-account quota-share arrangement with a U.S. insurance partner effective July 1, although management did not disclose the size of the agreement. Strickle said the company’s one-in-250 California earthquake probable maximum loss remained in the mid-single digits as a percentage of shareholders’ equity as of July 1. Its one-in-100 Southeast Gulf and Caribbean clash exposure remained below 10% of shareholders’ equity. Management maintained its outlook for mid-single-digit gross written premium growth in 2026 and targets of 13% to 15% return on average equity and a mid-to-high-80% combined ratio through the cycle. Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments. The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Fidelis Insurance Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Pelagos Insurance Capital (PLGO) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -61.36%. A quarter ago, it was expected that this insurance and reinsurance company would post earnings of $0.75 per share when it actually produced earnings of $0.94, delivering a surprise of +25.33%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Pelagos Insurance, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $625.1 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.22%. This compares to year-ago revenues of $582.6 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Pelagos Insurance shares have added about 25.1% since the beginning of the year versus the S&P 500's gain of 12.9%. While Pelagos Insurance has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Pelagos Insurance was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.86 on $737.39 million in revenues for the coming quarter and $3.80 on $2.78 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the top 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Credicorp (BAP), another stock in the broader Zacks Finance sector, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This Peruvian finance company is expected to post quarterly earnings of $7.20 per share in its upcoming report, which represents a year-over-year change of +15.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Credicorp's revenues are expected to be $1.72 billion, up 9.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pelagos Insurance Capital Limited (PLGO) : Free Stock Analysis Report Credicorp Ltd. (BAP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Gross premiums written of $1.3 billion, growth of 6.4% from the second quarter of 2025 Growth of 23% in book value per diluted common share including cumulative dividends from June 30, 2025 Second Quarter 2026 Highlights: Gross premiums written of $1.3 billion; growth of 6.4% from the second quarter of 2025 Combined ratio of 99.5%, an improvement of 4 points compared to 103.7% in the second quarter of 2025 Annualized operating return on average common equity ("Annualized Operating ROAE") of 5.1%, an improvement of 3 points compared to the second quarter of 2025 Total capital returned to common shareholders in the quarter of $72.6 million, including common share repurchases of $60.1 million, at an average price of $21.60 per share, and dividends of $12.5 million Net income of $44.4 million, or $0.52 per diluted common share, and operating net income of $28.7 million, or $0.34 per diluted common share Half Year 2026 Highlights: Gross premiums written of $3.1 billion; growth of 6.6% from the first half of 2025 Combined ratio of 93.1%, an improvement of 17 points compared to 110.1% in the first half of 2025 Annualized Operating ROAE of 10.1%, an improvement of 13 points compared to the first half of 2025 Total capital returned to common shareholders was $305.3 million, including common share repurchases of $279.5 million, at an average price of $19.51 per share, and dividends of $25.8 million Net income of $152.4 million, or $1.71 per diluted common share, and operating net income of $117.1 million, or $1.31 per diluted common share Book value per diluted common share was $26.56 at June 30, 2026, an increase of 9.1% including cumulative dividends from December 31, 2025, of $24.61 PEMBROKE, Bermuda, August 12, 2026--(BUSINESS WIRE)--Pelagos Insurance Capital Limited, formerly known as Fidelis Insurance Holdings Limited ("Pelagos" or "PLGO" or the "Company") (NYSE: PLGO) announced today its financial results for the second quarter ended June 30, 2026. Dan Burrows, Group Chief Executive Officer of Pelagos Insurance Capital, commented: "Our first-half performance reflects the continued success of our capital allocator model and our underwriting discipline. Year-to-date, we grew gross premiums written by 6.6% and book value per diluted common share by 9.1%, and by 22.6% over the last 12 months. "We returned $73 million to shareholders in the second quarter through dividends and repurchases, underscoring our commitment to balancing profitable growth with accretive capital management. "Looking ahead, our network of underwriting partners provides differentiated access to compelling opportunities. Through evolving market conditions, our focus remains consistent - deploying capital where we see attractive risk-adjusted returns. We believe that agility, combined with our capital strength, positions Pelagos to continue creating long-term value for shareholders." Net income for the second quarter of 2026 was $44.4 million, or $0.52 per diluted common share. Operating net income was $28.7 million, or $0.34 per diluted common share. Underwriting income for the second quarter of 2026 was $2.8 million and the combined ratio was 99.5%, compared to an underwriting loss of $20.6 million and a combined ratio of 103.7% in the second quarter of 2025. Net favorable prior year loss reserve development for the second quarter of 2026 was $32.7 million, compared to net adverse development of $89.2 million in the prior year period. Catastrophe and large losses for the second quarter of 2026 were $161.8 million compared to $74.3 million in the prior year period. Net investment income for the second quarter of 2026 was $44.0 million compared to $44.6 million in the prior year period. Net realized and unrealized investment gains for the second quarter of 2026 were $24.9 million, which included $26.4 million of net realized and unrealized gains on other investments. Annualized Operating ROAE of 5.1% in the quarter compared to 2.3% in the prior year period. Net income for the six months ended June 30, 2026, was $152.4 million, or $1.71 per diluted common share. Operating net income was $117.1 million, or $1.31 per diluted common share. Underwriting income for the six months ended June 30, 2026, was $79.0 million and the combined ratio was 93.1%, compared to an underwriting loss of $115.1 million and a combined ratio of 110.1% for the six months ended June 30, 2025. Catastrophe and large losses for the six months ended June 30, 2026, were $234.1 million compared to $407.6 million in the prior year period. Net favorable prior year loss reserve development of $35.8 million compared to net adverse development of $48.4 million in the prior year period. Net investment income of $87.7 million compared to $94.1 million in the prior year period. Net realized and unrealized investment gains for the six months ended June 30, 2026, were $23.3 million, which included $26.9 million of net realized and unrealized gains on other investments. This compared to net realized and unrealized investment gains for the six months ended June 30, 2025, of $12.6 million, which included $5.7 million of net realized and unrealized gains on other investments. Annualized Operating ROAE of 10.1% for the six months ended June 30, 2026, compared to (2.6)% in the prior year period. Book value per diluted common share was $26.56 at June 30, 2026 (dilutive shares at June 30, 2026 of 882,554), compared to $24.61 at December 31, 2025. The following table details key financial indicators in evaluating our performance for the three and six months ended June 30, 2026, and 2025: Insurance Segment The following table is a summary of our Insurance segment’s underwriting results: For the three months ended June 30, 2026, our GPW increased primarily driven by growth from our network of expanded underwriting partners in our Asset Backed Finance & Portfolio Credit and Property lines of business. For the six months ended June 30, 2026, our GPW increased primarily driven by growth from our network of expanded underwriting partners, in several lines of business, partially offset by a non-renewal in our Cyber line of business that did not meet our underwriting criteria and rating hurdles. For the three and six months ended June 30, 2026, net premiums earned ("NPE") increased due to earnings from higher net premiums written in the current and prior year periods. Our policy acquisition expense ratio for the three and six months ended June 30, 2026, remained consistent with the prior year periods. The following table is a summary of our Insurance segment’s losses and loss adjustment expenses: For the three and six months ended June 30, 2026, our loss ratio in the Insurance segment improved by 5.1 points and 7.6 points, respectively, compared to the prior year periods. The attritional loss ratio for the three and six months ended June 30, 2026, increased by 5.6 points and 4.6 points, respectively, compared to the prior year periods due to a higher level of small losses in the current year periods. The catastrophe and large losses for the three months ended June 30, 2026, were primarily from losses related to the conflict in the Middle East, the gas plant explosion at the Ras Laffan facility in Qatar, as well as other loss events in our Property and Marine lines of business. This compared to the prior period catastrophe and large losses that were primarily attributable to our Aviation & Aerospace line of business, related to Air India, and our Property line of business, related to two loss events. The catastrophe and large losses for the six months ended June 30, 2026, were primarily attributable to losses related to the conflict in the Middle East, the gas plant explosion at the Ras Laffan facility in Qatar, as well as loss events in various lines of business including Other Insurance, Property and Marine. This compared to the prior period catastrophe and large losses that were primarily attributable to the California wildfires in our Property line of business, together with other losses in our Other Insurance, Aviation & Aerospace, and Property lines of business. For the three months ended June 30, 2026, favorable prior year development was primarily driven by better than expected loss emergence in multiple lines of business. For the six months ended June 30, 2026, favorable prior year development was primarily driven by better than expected loss emergence in multiple lines of business, partially offset by increased loss estimates related to the Baltimore Bridge collapse within our Marine line of business as well as increases in prior year property D&F losses. Reinsurance Segment The following table is a summary of our Reinsurance segment’s underwriting results: For the three months ended June 30, 2026, GPW increased from targeted deployment into areas where we continue to see attractive risk-adjusted returns. For the six months ended June 30, 2026, our GPW increased primarily from targeted deployment into areas where we continue to see attractive risk-adjusted returns, partially offset by reinstatement premiums related to the California Wildfires in the prior year period. For the three months ended June 30, 2026, NPE decreased driven by our business mix. For the six months ended June 30, 2026, NPE decreased due to the acceleration of earnings on contracts with exposure to the California wildfires in the prior year period. Our policy acquisition expense ratio for the three and six months ended June 30, 2026, increased primarily due to business mix and changes in ceded premium and commissions earned from outwards reinsurance partners. The following table is a summary of our Reinsurance segment’s losses and loss adjustment expenses: For the three and six months ended June 30, 2026, our loss ratio in the Reinsurance segment improved by 19.2 points and 100.2 points, respectively, compared to the prior year periods. The attritional loss ratio for the three and six months ended June 30, 2026, improved by 17.3 points and 4.9 points, respectively, compared to the prior year periods, both of which were benign in terms of attritional losses. There were no material catastrophe and large losses for the three and six months ended June 30, 2026. The catastrophe and large losses for the three months ended June 30, 2025, were a result of an updated estimate of outwards reinsurance recoveries. The catastrophe and large losses for the six months ended June 30, 2025, were attributable to the California wildfires. For the three and six months ended June 30, 2026, favorable prior year development was driven by positive development on catastrophe losses and benign prior year attritional experience. We do not allocate The Fidelis Partnership commissions or general and administrative expenses by segment. The Fidelis Partnership Commissions The Fidelis Partnership manages origination, underwriting, underwriting administration, outwards reinsurance and claims handling under delegated authority agreements with the Company. The following table summarizes The Fidelis Partnership commissions earned: For the three months ended June 30, 2026, the decrease in The Fidelis Partnership commissions ratio was driven by our business mix and by the reduction of the accrued profit commission as a result of operating profit in the period. For the six months ended June 30, 2026, the increase in The Fidelis Partnership commissions ratio was driven by our mix of business and by improved performance in the current year period compared to the prior year period. General and Administrative Expenses For the three and six months ended June 30, 2026, general and administrative expenses were $29.3 million and $58.5 million, respectively (2025: $22.3 million and $44.3 million, respectively). The increase was due to strategic investments to strengthen our talent base, enhance our infrastructure and improve our technology. Also, improved financial performance resulted in higher variable compensation accruals in the current year. The components of net investment return are as follows: Net Investment Income Net investment income is the interest income earned on our cash balances, available-for-sale (AFS) fixed income securities and distributions received from our fixed income funds and private credit funds, net of total investment expenses. For the three and six months ended June 30, 2026, we generated net investment income of $44.0 million and $87.7 million, respectively, at an average yield of 4.3% and 4.2%, respectively (2025: $44.6 million and $94.1 million at an average yield of 4.4% and 4.4%) Our net investment income for the three months ended June 30, 2026, remained consistent with the prior year period. For the six months ended June 30, 2026, the decrease was driven by lower investable assets compared to the prior year period as well as a lower yield achieved on the fixed income portfolio and cash balances. Net Realized and Unrealized Gains/(Losses) on Other Investments Net realized and unrealized gains on other investments is the change in net asset value ("NAV") of our fixed income fund, hedge fund and private credit fund investments. The increase in our net investment income for the three and six months ended June 30, 2026, was driven by positive performance from our hedge fund portfolio and positive change in the NAV on our fixed income funds as interest rates moved higher in the quarter. Net Realized and Unrealized Investment Gains/(Losses) Excluding Other Investments Net realized and unrealized investment gains/(losses) excluding other investments includes net realized gains/(losses) on sales of fixed maturity securities, available-for-sale, and movements in our provision for current expected credit losses. For the three and six months ended June 30, 2026, the decrease resulted from movements in our provision for current expected credit losses of $(0.8) million and $(3.0) million, respectively (2025: $1.3 million and $5.3 million). Share Repurchases In the three and six months ended June 30, 2026, we repurchased 2,779,812 and 14,324,667 common shares, respectively, for an aggregate of $60.1 million and $279.5 million, respectively, excluding expenses, at an average price of $21.60 and $19.51 per common share, respectively, pursuant to our share repurchase authorization. Included in common shares repurchased for the three and six months ended June 30, 2026, were 1,440,000 common shares repurchased from Pine Brook Feal Intermediate, L.P. for $31.7 million in privately negotiated transactions. This resulted in a pro-rata repurchase of 157,785 common shares from The Fidelis Partnership for $3.5 million. Included in common shares repurchased for the six months ended June 30, 2026, were 8,597,170 common shares from CVC Falcon Holdings Limited for an aggregate of $163.3 million through a privately negotiated transaction. This resulted in a pro-rata repurchase of 942,014 common shares from The Fidelis Partnership for $17.9 million. The unutilized amount of the share repurchase authorization at June 30, 2026, was $139.1 million Dividend Announcement On August 3, 2026, we announced that our Board of Directors has approved and declared a dividend of $0.15 per share, payable on September 25, 2026, to common shareholders of record on September 14, 2026. Conference Call Pelagos will host a teleconference to discuss its financial results on Thursday, August 13, 2026, at 9:00 a.m. Eastern time. The call can be accessed by dialing 1-800-715-9871 (U.S. callers), or 1-646-307-1963 (international callers), and entering the passcode 8797451 approximately 10 minutes in advance of the call. A live, listen-only webcast of the call will also be available via the Investors section of the Company’s website at www.pelagosinsurancecapital.com. A recording of the webcast will be available in the Investor Relations section of the Company’s website approximately two hours after the event concludes and will be archived on the site for one year. About Pelagos Insurance Capital Pelagos Insurance Capital (NYSE: PLGO), formerly Fidelis Insurance Group (NYSE: FIHL), is an expert capital allocator and risk selector in specialty insurance and reinsurance. We bring together strategic capital and specialist underwriting expertise to deliver value through the cycle. With a differentiated, diversified portfolio and strong balance sheet, we deploy capital into the most compelling areas of the market through our network of best-in-class underwriting partners. Our deep expertise and multiple points of access to the market enable us to adapt as the market evolves, optimize performance, and produce superior outcomes for clients, brokers, and shareholders. Pelagos Insurance Capital makes the connections that matter in specialty risk. For additional information about Pelagos Insurance Capital, our people, products and our insurer financial strength ratings please visit our website at www.pelagosinsurancecapital.com. Non-GAAP Financial Measures This press release includes, and the related conference call will include, certain financial measures that are not calculated in accordance with generally accepted accounting principles in the U.S. ("U.S. GAAP") including Operating net income, Operating EPS and Operating ROAE, attritional loss ratio and catastrophe and large loss ratio, and therefore are non-GAAP financial measures. Reconciliations of such measures to the most comparable U.S. GAAP figures are included in the attached financial information in accordance with Regulation G. Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements" which include all statements that do not relate solely to historical or current facts and which may concern our strategy, plans, targets, projections or intentions and are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "continue," "grow," "opportunity," "create," "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "target," "tracking," "expect," "evolve," "achieve," "remain," "proactive," "pursue," "optimize," "emerge," "drive," "enable," "allow," "build," "looking ahead," "commit," "strategy," "predict," "potential," "assumption," "future," "likely," "may," "should," "could," "will," "position" and the negative of these and also similar terms and phrases. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are qualified by these cautionary statements, because they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, targets, projections, anticipated events and trends, the economy and other future conditions, but are subject to significant business, economic, legal and competitive uncertainties, many of which are beyond our control or are subject to change. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements contained therein may include, among others, statements in relation to: targeted operating results such as return on equity, net income and earnings per share, underwriting profitability and target combined, loss and expense ratios, growth in gross premiums written and book value per share; our expectations regarding current settlement discussions, court cases and current settlement and litigation strategies; our expectations regarding our business, including the industries we operate in, and capital management strategy and the performance of our business; information regarding our estimates for catastrophes, claims and other loss events; our expectations regarding our partnerships and strategic agreements, including The Fidelis Partnership; anticipated market conditions, pricing cycles, and competitive positioning; sustainability and renewable energy initiatives; use of and exposure to emerging technologies; our management team and human capital; our share price performance and valuation; and our regulatory or listing status; our liquidity and capital resources; and expectations of the effect on our results of operations and financial condition of our loss claims, litigation, climate change impacts, contingent liabilities and governmental and regulatory investigations and proceedings. Our actual results in the future could differ materially from those anticipated in any forward-looking statements as a result of changes in assumptions, risks, uncertainties and other factors impacting us, many of which are outside our control, including: the inherent uncertainty, volatility and unpredictability of underwriting insurance and reinsurance risks, including low-frequency, high-severity events and natural and non-natural catastrophic events; the frequency and severity of claims and loss activity, including the impact of climate change, inflation (including social inflation), emerging claims trends and complex causation or coverage issues; limitations in available data and the reliability of pricing, accumulation, catastrophe and other analytical models used to estimate losses and exposures; the adequacy of our loss reserves and the actual development of losses and loss adjustment expenses; macroeconomic, geopolitical and market conditions, sanctions and other global developments; cyclical changes in the insurance and reinsurance industry, including premium rate movements, competitive pressures and consolidation; our ability to implement our strategy, identify and execute growth opportunities and compete effectively; any downgrades, potential downgrades or other negative actions by rating agencies; the availability, affordability and collectability of reinsurance and retrocessional protections; litigation, arbitration and regulatory proceedings and the inherent uncertainty of their outcomes; our reliance on TFP and other third parties for underwriting, claims handling and other services, and the effectiveness of our risk management and oversight framework; operational risks, including system failures, cybersecurity incidents, data protection breaches and risks associated with emerging technologies, including artificial intelligence, and evolving regulatory requirements applicable thereto; risks relating to our investment portfolio, including market volatility, interest rate movements, credit risk, liquidity risk and currency fluctuations; our ability to access capital and liquidity, including through letters of credit and other financing arrangements, and our status as a holding company dependent on dividends and other distributions from our operating subsidiaries; regulatory developments, including changes in capital regimes, increased supervisory scrutiny and compliance with economic and trade sanctions, anti-bribery and similar laws; tax developments, including changes in tax laws, interpretations and international tax initiatives; our ability to attract and retain key personnel; our potential inability to pay dividends or distributions in accordance with our dividend policy; our ability to maintain the listing of our common shares on the NYSE or another national securities exchange; the Company’s status as a foreign private issuer; and the other risks, uncertainties and other factors disclosed under the section titled ‘Risk Factors’ in our Annual Report on Form 20-F filed with the SEC on March 5, 2026, as well as subsequent current reports and other filings with the SEC available electronically at www.sec.gov. The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in our filings with the SEC. All forward-looking statements included herein are expressly qualified in their entirety by the cautionary statements contained or referred to therein. The forward-looking statements contained herein are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond our control and which could cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements, expectations, beliefs and projections made by us in this press release speak only as of the date referenced on such date on which they are made and are expressed in good faith and our management believes that there is reasonable basis for them, based only on information currently available to us. There can be no assurance that management’s expectations, beliefs, and projections will be achieved and actual results may vary materially from what is expressed or indicated by the forward-looking statements. Furthermore, our past performance, and that of our management team and of TFP, should not be construed as a guarantee of future performance. Except to the extent required by applicable laws and regulations, we undertake no obligation to update or revise any forward-looking statements contained in the above discussion, whether as a result of new information, future developments or otherwise. In light of these risks and uncertainties, you should keep in mind that any event described in a forward-looking statement might not occur. PELAGOS INSURANCE CAPITAL LIMITED Consolidated Balance Sheets At June 30, 2026, (Unaudited) and December 31, 2025 (Expressed in millions of U.S. dollars, except for share and per share amounts) PELAGOS INSURANCE CAPITAL LIMITED Consolidated Statements of Income and Comprehensive Income (Unaudited) For the three and six months ended June 30, 2026, and June 30, 2025 (Expressed in millions of U.S. dollars, except for share and per share amounts) PELAGOS INSURANCE CAPITAL LIMITED Consolidated Segment Data (Unaudited) For the three and six months ended June 30, 2026, and June 30, 2025 (Expressed in millions of U.S. dollars) PELAGOS INSURANCE CAPITAL LIMITED NON-GAAP FINANCIAL MEASURES RECONCILIATION (UNAUDITED) Attritional loss ratio and catastrophe and large loss ratio: the attritional loss ratio is a non-GAAP measure of the loss ratio excluding the impact of catastrophe and large losses. Management believes that the attritional loss ratio is a performance measure that is useful to investors as it excludes losses that are not as predictable as to timing and amount. The attritional loss ratio is calculated by dividing the losses and loss adjustment expenses, excluding catastrophe and large losses and prior year development, by NPE. The catastrophe and large loss ratio is a non-GAAP measure that is calculated by dividing the current year catastrophe and large loss expense by NPE. The reconciliation of these non-GAAP measures is included in each segment’s summary of losses and loss adjustment expenses table. Operating net income/(loss): is a non-GAAP financial measure of our performance which does not consider the impact of certain non-recurring and other items that may not properly reflect the ordinary activities of our business, its performance or its future outlook. This measure is calculated as net income/(loss) excluding net realized and unrealized investment gains, net foreign exchange gains/(losses), corporate and other expenses, and the income tax effect on these items. Annualized return on average common equity ("Annualized ROAE"): represents annualized net income/(loss) divided by average common shareholders’ equity. Annualized operating return on average common equity ("Annualized Operating ROAE"): is a non-GAAP financial measure that represents a meaningful comparison between periods of our financial performance expressed as a percentage and is calculated as annualized operating net income/(loss) divided by average common shareholders’ equity. Operating earnings per share ("Operating EPS"): is a non-GAAP financial measure that represents a valuable measure of profitability and enables investors, analysts, rating agencies and other users of our financial information to more easily analyze our results in a manner similar to how management analyzes its underlying business performance. It is calculated by dividing operating net income/(loss) by the weighted average diluted common shares outstanding. The table below sets out the calculation of our Operating net income/(loss), Annualized ROAE, Annualized Operating ROAE and Operating EPS, for the three and six months ended June 30, 2026, and 2025. View source version on businesswire.com: https://www.businesswire.com/news/home/20260812431754/en/ Contacts Pelagos Insurance Capital Investor Contact: Pelagos Insurance CapitalMiranda Hunter+1 (441) 279 2561 Pelagos Insurance Capital Media Contact: Rein4ceSarah Hills+44 (0)7718 882011

Horace Mann (HMN) came out with quarterly earnings of $1.17 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $1.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +74.63%. A quarter ago, it was expected that this provider of auto and homeowners' insurance for teachers and other educators would post earnings of $1.1 per share when it actually produced earnings of $1.28, delivering a surprise of +16.36%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Horace Mann, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $443.5 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.09%. This compares to year-ago revenues of $411.7 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Horace Mann shares have added about 12.5% since the beginning of the year versus the S&P 500's gain of 13%. While Horace Mann has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Horace Mann was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.12 on $446.3 million in revenues for the coming quarter and $4.50 on $1.77 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Pelagos Insurance Capital (PLGO), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 12. This insurance and reinsurance company is expected to post quarterly earnings of $0.88 per share in its upcoming report, which represents a year-over-year change of +633.3%. The consensus EPS estimate for the quarter has been revised 8.5% lower over the last 30 days to the current level. Pelagos Insurance Capital's revenues are expected to be $645.88 million, up 10.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Horace Mann Educators Corporation (HMN) : Free Stock Analysis Report Pelagos Insurance Capital Limited (PLGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Oscar Health, Inc. (OSCR) came out with quarterly earnings of $1.1 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to a loss of $0.89 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +155.81%. A quarter ago, it was expected that this company would post earnings of $1.21 per share when it actually produced earnings of $2.07, delivering a surprise of +71.07%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Oscar Health, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $4.88 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.92%. This compares to year-ago revenues of $2.86 billion. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Oscar Health shares have added about 109.5% since the beginning of the year versus the S&P 500's gain of 12.8%. While Oscar Health has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Oscar Health was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.22 on $4.75 billion in revenues for the coming quarter and $0.63 on $18.92 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Pelagos Insurance Capital (PLGO), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 12. This insurance and reinsurance company is expected to post quarterly earnings of $0.88 per share in its upcoming report, which represents a year-over-year change of +633.3%. The consensus EPS estimate for the quarter has been revised 8.5% lower over the last 30 days to the current level. Pelagos Insurance Capital's revenues are expected to be $645.88 million, up 10.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oscar Health, Inc. (OSCR) : Free Stock Analysis Report Pelagos Insurance Capital Limited (PLGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wall Street expects a year-over-year increase in earnings on higher revenues when Pelagos Insurance Capital (PLGO) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 12. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This insurance and reinsurance company is expected to post quarterly earnings of $0.88 per share in its upcoming report, which represents a year-over-year change of +633.3%. Revenues are expected to be $645.88 million, up 10.9% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 8.51% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Pelagos Insurance, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Pelagos Insurance will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Pelagos Insurance would post earnings of $0.75 per share when it actually produced earnings of $0.94, delivering a surprise of +25.33%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Pelagos Insurance doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pelagos Insurance Capital Limited (PLGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Announces Quarterly Dividend of $0.15 Per Common Share Payable on September 25, 2026 PEMBROKE, Bermuda, August 03, 2026--(BUSINESS WIRE)--Pelagos Insurance Capital Limited (formerly known as Fidelis Insurance Holdings Limited) (NYSE:PLGO) ("Pelagos Insurance Capital" or the "Company"), an expert capital allocator and risk selector in specialty insurance and reinsurance, announced today that its Board of Directors has approved and declared a dividend of $0.15 per share, payable on September 25, 2026, to common shareholders of record on September 14, 2026. About Pelagos Insurance Capital Pelagos Insurance Capital (NYSE: PLGO), formerly Fidelis Insurance Group (NYSE: FIHL), is an expert capital allocator and risk selector in specialty insurance and reinsurance. We bring together strategic capital and specialist underwriting expertise to deliver value through the cycle. With a differentiated, diversified portfolio and strong balance sheet, we deploy capital into the most compelling areas of the market through our network of best-in-class underwriting partners. Our deep expertise and multiple points of access to the market enable us to adapt as the market evolves, optimize performance, and produce superior outcomes for clients, brokers, and shareholders. Pelagos Insurance Capital makes the connections that matter in specialty risk. For additional information about Pelagos Insurance Capital, our people, products and our insurer financial strength ratings please visit our website at www.pelagosinsurancecapital.com. CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS Certain statements contained in this press release constitute "forward-looking statements," and are made pursuant to the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation, statements regarding the Company’s timing and ability to pay dividends, the Company’s plans to return capital to shareholders, and the Company's business strategy and plans. These statements reflect management’s current beliefs, expectations, assumptions, estimates and projections. While management believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Important risk factors regarding the Company can be found under the heading "Risk Factors" in the Company’s Annual Report on Form 20-F for the year ended December 31, 2025, which are incorporated herein by reference, as such factors may be updated from time to time in the Company's subsequent current reports and other filings with the SEC available electronically at www.sec.gov. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to rely on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements after the date of this press release, whether as a result of new information, future events, or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260803613714/en/ Contacts Pelagos Insurance Capital Investor Contact: Pelagos Insurance CapitalMiranda Hunter+1 (441) 279 2561 Pelagos Insurance Capital Media Contact: Rein4ceSarah Hills+44 (0)7718 882011