ELV · 10-Q · 2026Q2 · Full report

Net Investment Income Trends

Elevance Health, Inc. · 2026-07-15 · Importance 40 · Surprise 56

Net investment income rose significantly — up 44.9% for the three months and 36.5% for the six months ended June 30, 2026 — primarily due to higher income from alternative investments partially offset by lower income from fixed maturity securities. This increase in investment income partially offset declines in operating gain and contributed favorably to total revenues and net income despite underwriting pressure. Management highlights alternatives as the primary contributor to the investment income improvement. The shift underscores the growing importance of non-traditional asset classes to earnings volatility.

Key facts

• Net investment income for the three months ended June 30, 2026 was $1,469 compared to $1,076 for the three months ended June 30, 2025, an increase of 44.9% (36.5% for six months). source