{
  "report_rows": [
    {
      "kpi": "Operating diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.52 vs. cons $2.47",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net premiums written",
      "prediction": "MISS",
      "answer": "pred ~$4.14B vs. cons $4.217B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Underwriting margin, ex-cat/ex-PYD",
      "prediction": "BEAT",
      "answer": "pred ~14.50% vs. cons 13.95%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 catastrophe load",
      "prediction": "UNCHANGED",
      "answer": "guide ~7-8% of NPE vs. cons UNVERIFIED",
      "confidence": "LOW"
    },
    {
      "kpi": "Property-cat pricing / volume commentary",
      "prediction": "LOWER",
      "answer": "guide ~more cautious growth posture vs. cons FY26 NPW $16.17B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Capital return commentary",
      "prediction": "BETTER",
      "answer": "guide ~active repurchases reiterated vs. cons UNVERIFIED",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": -2.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FOLLOW-THROUGH \u2014 premium-growth reset outweighs the margin beat",
  "day5_confidence": "LOW"
}