{
  "report_rows": [
    {
      "kpi": "Combined Ratio - P&C (%)",
      "prediction": "BEAT",
      "answer": "pred ~90.7 vs. cons 91.9",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net Premiums Written ($B)",
      "prediction": "MISS",
      "answer": "pred ~$21.9B vs. cons $22.2B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Operating EPS ($)",
      "prediction": "BEAT",
      "answer": "pred ~$3.85 vs. cons $3.65",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Combined Ratio target (FY 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide 'at or below 96%' reaffirmed vs. cons 89.1",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Robinson/Property growth (qualitative, Q3 2026 call)",
      "prediction": "BETTER",
      "answer": "incrementally positive tone vs. muted expectations",
      "confidence": "LOW"
    },
    {
      "kpi": "Growth posture / NPW trajectory",
      "prediction": "UNCHANGED",
      "answer": "grow as fast as possible maintained vs. cons ~+4% YoY",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 2.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -1.0,
  "day5_path": "FADE",
  "day5_rationale": "FADE \u2014 NPW miss triggers sell-side estimate cuts on growth line; CR beat partially offsets but does not hold",
  "day5_confidence": "MEDIUM"
}