E-L Financial (ELF) Q2 2026 earnings summary

Executive summary

• Net equity value per common share rose to $27.37 as of June 30, 2026, up 7.5% from December 31, 2025, and 17.5% year-over-year.

• Consolidated shareholders' net income for Q2 2026 was $1,011 million ($2.99 per share), up from $365 million ($1.07 per share) in Q2 2025.

• Year-to-date net income reached $1,043 million ($3.08 per share), compared to $451 million ($1.32 per share) for the same period in 2025.

Financial highlights

• E-L Corporate Q2 net income was $928 million, up from $333 million in Q2 2025, driven by a net gain on investments of $1,128 million.

• Empire Life Q2 net income was $83 million, a $51 million increase year-over-year, mainly due to stronger investment and insurance finance results.

• Empire Life's net income for the first six months was $89 million, down from $102 million in 2025, impacted by less favorable claims experience and higher expenses.

Segment performance

• E-L Corporate's global investment portfolio delivered a 15% pre-tax total return in Q2 2026, compared to 6% in Q2 2025.

• Empire Life saw improved net insurance service results in Wealth Management and Group Solutions, partially offset by higher technology investments.