| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 24, 2026 | 6/12 | 2 high, 4 medium, 2 low flags | 3 | 0 | Call sheet → |
| Q1'26 | April 24, 2026 | 11/12 | 2 medium, 4 low flags | 3 | 0 | Call sheet → |
| Q4'25 | January 30, 2026 | 8/12 | 2 high, 4 medium, 1 low flags | 6 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | $450M quarterly buybacks Completed $450M in Q2, raising to $475M going forward |
| Q2'26 | Delivered | Employee benefits 6-7% margin target 7.4% margin in Q2, but concerning trends in disability |
| Q2'26 | Delivered | Full year net investment income growth with yields in line with 2025 NII up 22% YoY, yields at 4.7% before tax |
| Q2'26 | Pending | Property premium growth of 10% for full year No specific Q2 disclosure but pricing holding in mid-single digits |
| Q2'26 | Pending | 30 states for agency product by early 2027 At 23 states now from 15 last quarter, ahead of pace |
| Q2'26 | Pending | Expense improvement in 2026 Q2 expense ratio improved to 30.7% from 31.6%, on track but early |
| Q1'26 | Pending | Business Insurance expense ratio improvements over next 7 quarters Q1 at 31.6% shows seasonal increase but Swift reaffirmed target below 30% by end of 2027 |
| Q1'26 | Delivered | Agency Prevail rollout continuing through 2026 Now live in 15 states vs 10 at year-end, on track for 30 by early 2027 |
| Q1'26 | Delivered | Share repurchases to increase to $450M quarterly beginning Q1 Executed exactly as promised with $450M in Q1 |
| Q1'26 | Delivered | Net investment income expected to increase in 2026 Q1 NII of $739M on track despite LP normalization, full-year guidance maintained |
| Q1'26 | Pending | Property pricing in packaged product expected to stabilize as we move into 2026 Q1 pricing was down 50 bps to 7.2% but Swift says it will 'flatten out here relatively shortly' |
| Q4'25 | Exceeded | Fourth quarter LP returns to be in similar range to third quarter Delivered 11.4% vs Q3's 6.7% |
| Q4'25 | Delivered | Quarterly share repurchases to remain at $400M in Q4 Executed $400M in Q4 as guided |
| Q4'25 | Delivered | Continue to deliver industry-leading returns 19.4% core ROE achieved for full year |
| Q4'25 | Exceeded | CAT losses expected under budget Came in at 4.2 points versus higher budget expectations |
| Q4'25 | Pending | Prevail rollout continuing with 30 state launches by early 2027 On track with 10 states live, but timeline extends into 2027 |
| Q4'25 | Delivered | Small business written premium expected to exceed $6B in 2025 Achieved 10% growth target with strong new business |
| Q4'25 | Delivered | Property written premium to reach $3.3B for full year 2025 Met the target with disciplined growth strategy |
Get free previews of our earnings-call research: the key changes, management scores, and questions worth investigating. Subscribe for full call sheets and deeper analysis.
Subscriptions are managed by Substack. If the form does not load, subscribe directly. Or follow the RSS feed.