{
  "report_rows": [
    {
      "kpi": "BI Underlying Combined Ratio (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~88.1% vs. cons 88.43%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Group Benefits Core Earnings Margin (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~7.8% vs. cons 8.09%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net Investment Income (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$720M vs. cons $729M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY 2026 Operating EPS (FY 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$12.40 reaffirmed vs. cons $12.40; implied H2 math is a cut",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY 2026 NII (FY 2026)",
      "prediction": "LOWER",
      "answer": "guide softened vs. cons $3.02B; LP headwinds acknowledged",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Group Benefits Margin (FY 2026)",
      "prediction": "LOWER",
      "answer": "guide toward lower end of 6-7% range vs. cons 7.53%",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -3.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FOLLOW-THROUGH \u2014 sell-side cuts Q3/Q4 estimates as implied H2 math forces revisions lower; EB and NII misses pull FY consensus from $12.40 toward $12.10-12.20",
  "day5_confidence": "MEDIUM"
}