- Here's Why W.R. Berkley (WRB) is a Strong Growth Stock
May 13, 2026 · zacks.com
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
- SIGI Stock Near 52-Week High: A Signal for Investors to Hold Tight?
May 11, 2026
Shares of Selective Insurance Group, Inc. SIGI closed at $84.78 on Friday, near its 52-week high of $91.63. This proximity underscores investor confidence. It has the ingredients for further price appreciation.
The stock is trading above the 50-day and 200-day simple moving averages (SMA) of $79.66 and $80.47, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.Zacks Investment Research
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SIGI is an Outperformer
Shares of Selective Insurance have gained 1.3% in the year-to-date period, outperforming the Finance sector’s growth of 0.2% and the industry’s decline of 12.2%.
Selective Insurance has outperformed its peers, including Axis Capital Holdings Limited AXS, NMI Holdings Inc. NMIH and W.R. Berkley Corporation WRB. Shares of AXS, NMIH and WRB have lost 7.2%, 4.7% and 6.3%, respectively, in the year-to-date period.Zacks Investment Research
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SIGI’s Growth Projection Encourages
The Zacks Consensus Estimate for Selective Insurance’s 2026 earnings per share indicates a year-over-year increase of 5.1%. The consensus estimate for revenues is pegged at $5.51 billion, implying a year-over-year improvement of 3.4%. The consensus estimate for 2027 earnings per share and revenues indicates an increase of 13.8% and 3.4%, respectively, from the 2026 estimates.
Selective Insurance has an impressive Growth Score of B. This style score helps analyze the growth prospects of a company.
Optimistic Analyst Sentiment for SIGI
Two of the five analysts covering the stock have raised estimates for both 2026 and 2027 over the past 30 days. Thus, the Zacks Consensus Estimate for 2026 and 2027 earnings has moved north 0.6% and 0.5%, respectively, over the past 30 days.
Target Price Reflects Potential Upside
Based on short-term price targets offered by seven analysts, the Zacks average price target is $90.14 per share. The average indicates a potential 6.3% upside from the last closing price.Zacks Investment Research
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Factors Favoring SIGI Stock
Exposure growth, solid retention rates and higher new business gains in standard commercial and excess and surplus (E&S) lines should drive premium growth.
Steady betterment of premiums, improved net investment income and higher other income have resulted in top-line improvement.
The E&S Lines segment of Selective Insurance is likely to improve because of renewal pure price increases, higher direct new business and favorable E&S lines marketplace conditions.
Given impressive investment results, Selective Insurance expects after-tax net investment income of $465 million in 2026. Strong and reliable returns from its growing fixed-income portfolio, supported by higher returns from its non-fixed income portfolio, are likely to drive the metric.
Selective Insurance flaunts a sound capital structure and remains committed to enhancing shareholders' value while improving its financial strength and underwriting capabilities. As of March 31, 2026, stockholders’ equity was $3.6 billion, and the net premiums written to policyholders’ surplus ratio was 1.35x, indicating capacity to support underwriting and geographic expansion. Debt-to-total capitalization was 20.1% at quarter-end, and long-term debt was $901 million, which management has kept stable since year-end 2025. This balance supports continued investment in underwriting, claims and technology capabilities while maintaining room for shareholder returns.
Story Continues
Impressive Wealth Distribution
Selective Insurance continues to return capital through dividends and repurchases while keeping flexibility for underwriting and investment opportunities. From a valuation perspective, the stock’s multiples remain below broader market averages, and consensus expectations imply relatively steady earnings power, with 2026 EPS estimated at $7.45 and 2027 EPS estimated at $8.70. This combination supports long-term total return potential, even as near-term premium growth is moderated by underwriting choices.
SIGI’s Favorable Return on Capital
Return on equity in the trailing 12 months was 13.7%, better than the industry average of 7.3%. This highlights the company’s efficiency in utilizing shareholders’ funds.
Conclusion
While Selective Insurance remains well-positioned to gain from strong renewal, fuel price increases, favorable E&S lines marketplace conditions and higher income earned on fixed-income securities portfolio, the specific challenges facing the company, like exposure to catastrophe loss and escalating expenses, cannot be ignored.
SIGI also has a VGM Score of A. Stocks with a favorable VGM Score are those with the most attractive value, best growth and most promising momentum compared with peers.
SIGI should benefit from favorable growth estimates, higher return on capital and prudent capital deployment. It is, therefore, wise to hold on to this Zacks Rank #3 (Hold) stock at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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- CNA Financial Q1 Earnings Miss Estimates on Weak Underwriting Income
May 5, 2026
CNA Financial Corporation CNA reported first-quarter 2026 core earnings of 83 cents per share, which missed the Zacks Consensus Estimate by 44.3%. The bottom line decreased 19.4% year over year.
The quarterly results of CNA reflected higher claims and expenses, a sharp deterioration in the combined ratio, which pressured underwriting income. These factors were partially offset by modest premium growth, improved investment income and decreased catastrophe losses.
Behind Q1 Headlines
Total operating revenues of CNA Financial were $3.3 billion, up 2.2% year over year, driven by higher premiums and net investment income. The top line missed the Zacks Consensus Estimate by 0.3%.
CNA Financial Corporation Price, Consensus and EPS SurpriseCNA Financial Corporation Price, Consensus and EPS Surprise
CNA Financial Corporation price-consensus-eps-surprise-chart | CNA Financial Corporation Quote
Net written premiums of Property & Casualty Operations increased 1% year over year to $2.7 billion. The new business grew 3% to $581 million.
Net investment income rose 1% year over year to $610 million. The increase was supported by higher fixed income returns, partly offset by weaker performance in limited partnerships and equities. Our estimate for net investment income was $640 million. The Zacks Consensus Estimate was pegged at $640.5 million.
Total claims, benefits and expenses increased 4% to $3.4 billion, primarily due to higher insurance claims and policyholders’ benefits, amortization of deferred acquisition costs, other operating expenses and interest expenses. Our estimate was $3.2 billion.
Catastrophe losses were $88 million, narrower than the loss of $96 million in the year-ago quarter. Underlying underwriting income declined 28% year over year to $144 million.
The combined ratio deteriorated 380 basis points (bps) year over year to 102.2. The Zacks Consensus Estimate was pegged at 92.5, while our estimate was 92.5.
Q1 Segment Results
Specialty’s net written premiums decreased 1% year over year to $834 million. Our estimate was $875.5 million. The combined ratio deteriorated 760 bps to 102.7. The Zacks Consensus Estimate was pegged at 90.3.
Commercial’s net written premiums decreased 1% year over year to $1.5 billion. Our estimate was $1.5 billion. The combined ratio deteriorated 240 bps to 103.5. The Zacks Consensus Estimate was pegged at 94.2.
International’s net written premiums increased 16% year over year to $308 million. Our estimate was $254.4 million. The combined ratio deteriorated 50 bps to 95.9. The Zacks Consensus Estimate was pegged at 91.4.
Life & Group’s net earned premiums were $103 million, down 2.8% year over year. Our estimate was $101.8 million. The core loss was $9 million versus income of $6 million earned in the year-ago quarter. Core loss increased primarily due to unfavorable persistency experience.
Story Continues
Corporate & Others’ core loss of $17 million was narrower than the loss of $36 million incurred in the year-earlier quarter.
CNA’s Financial Update
The core return on equity contracted 200 bps year over year to 7.2%. Book value per share was $40.13, down 6.5% from the year-end 2025 level.
Statutory capital and surplus for the Combined Continental Casualty Companies were $11.1 billion, down 6.5% from the 2025-end level.
Net cash flow provided by operating activities decreased 38.4% to $393 million year over year.
CNA’s Dividend Update
CNA Financial’s board of directors approved a quarterly dividend of 48 cents per share. The dividend will be paid out on June 4 to its shareholders of record as of May 18, 2026.
CNA’s Zacks Rank
CNA currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Some Other P&C Insurers
The Travelers Companies, Inc. TRV reported first-quarter 2026 core income of $7.71 per share, which beat the Zacks Consensus Estimate by 10.5%. The bottom line surged fourfold year over year. Travelers’ total revenues remained flat from the year-ago quarter to $11.9 billion. The top-line figure, however, missed the Zacks Consensus Estimate by 3.7%.
Net written premiums increased 2% year over year to a record $10.3 billion, driven by strong growth across Business Insurance and Bond & Specialty Insurance segments. Net investment income increased 8.4% year over year to $1 billion. The figure matched the Zacks Consensus Estimate.
W.R. Berkley Corporation WRB reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
Total revenues were $ 3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. The top-line figure, however, missed the Zacks consensus Estimate by 0.28%. W.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure beat our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
RLI Corp. RLI reported first-quarter 2026 operating earnings of 83 cents per share, which missed the Zacks Consensus Estimate by 2.3%. The bottom line decreased 13.2% from the prior-year quarter.
Operating revenues for the reported quarter were $454 million, up 4.4% year over year, driven by higher net premiums earned and net investment income. The top-line figure beat the Zacks Consensus Estimate by 1%. Gross premiums written increased 3% year over year to $503.9 million, driven by strong growth in the casualty segment (up 10%). Our estimate was $523.9 million.
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- NMI Holdings Q1 Earnings, Revenues Top, Insurance in Force Rises Y/Y
May 1, 2026
NMI Holdings NMIH reported first-quarter 2026 operating net income per share of $1.28, which beat the Zacks Consensus Estimate by 4.9%. The bottom line remained flat year over year.
The quarterly results reflected higher premiums earned, improved net investment income and consistent growth in the high-quality insured portfolio. These were offset by lower persistency.
NMI Holdings Inc Price, Consensus and EPS Surprise
NMI Holdings Inc price-consensus-eps-surprise-chart | NMI Holdings Inc Quote
Operational Update
NMI Holdings’ total operating revenues of $183 million increased 5.8% year over year on higher net premiums earned (up 4%) and net investment income (up 21%). Revenues beat the Zacks Consensus Estimate by 0.4%.
Primary insurance in force increased 5.2% year over year to $222.3 billion. Our estimate was $222.1 billion while the consensus estimate was $222.2 billion.
Annual persistency was 82.2%, down 210 basis points (bps) year over year.
New insurance written was $12.3 billion, up 33% year over year, reflecting strong business production.
Underwriting and operating expenses totaled $30.6 million, up 1.5% year over year.
Insurance claims and claim expenses were $20.6 million, which surged more than fourfold year over year.
The loss ratio was 13.3, which deteriorated 1030 bps. The adjusted expense ratio of 19.3 improved 400 bps year over year, while the adjusted combined ratio of 33.1 deteriorated 990 bps.
Financial Update
Book value per share, a measure of net worth, was up 16.6% year over year to $34.57 as of March 31, 2026.
NMI Holdings had $70.7 million in cash and cash equivalents, up 60.8% from the 2025 end level.
The debt balance of $417.5 million increased 0.1% from the end of 2025.
The annualized adjusted return on equity was 15.2%, which contracted 290 bps year over year. Total PMIERs available assets were $3.6 billion.
Net risk-based required assets totaled $2.2 billion at the end of first-quarter 2026.
Zacks Rank
NMIH currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
Selective Insurance Group SIGI reported first-quarter 2026 operating income of $1.69 per share, which missed the Zacks Consensus Estimate by 2.3%. The bottom line decreased 11% year over year.
Operating revenues of $1.4 billion increased 6.4% from the year-ago quarter’s level, driven primarily by higher net premiums earned and net investment income. The top line missed the Zacks Consensus Estimate by 0.5%. Net premiums written decreased 1% to $1.3 billion. The figure was on par with our estimate.
W.R. Berkley Corporation WRB reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
Total revenues were $3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. The top line missed the consensus estimate by 0.28%. W.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure beat our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Kinsale Capital Group, Inc. KNSL delivered first-quarter 2026 net operating earnings of $5.11 per share, which outpaced the Zacks Consensus Estimate by 8.7%. The bottom line increased 37.7% year over year. Operating revenues increased 10.2% year over year to $467 million, which beat the Zacks Consensus Estimate by 0.1%.
Kinsale Capital’s underwriting income was $94.5 million, up 40% year over year. The combined ratio improved 470 bps year over year to 77.4 compared with the Zacks Consensus Estimate of 79.1. The loss ratio improved 580 bps to 56.3, reflecting lower catastrophe losses and favorable reserve development. The expense ratio deteriorated 110 bps year over year to 21.1.
Story Continues
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- NMI Holdings Q1 Earnings, Revenues Top, Insurance in Force Rises Y/Y
May 1, 2026 · zacks.com
NMIH tops Q1 estimates as revenues rise 5.8% and primary insurance in force climbs to $222.3B, even as persistency slips and claims surge.
- Hanover Insurance Q1 Earnings Top Estimates on Lower Cat Losses
Apr 30, 2026
The Hanover Insurance Group, Inc. THG posted first-quarter 2026 operating income of $5.25 per share, which rose 35.7% year over year and beat the Zacks Consensus Estimate of $4.14 by 26.8%.
Total revenues rose 6.1% year over year to $1.7 billion but missed the consensus mark of $1.72 billion by 1.2%. Results reflected firm pricing and improved underlying loss trends, helping drive a record operating return on equity of 20.3%.
The Hanover Insurance Group, Inc. Price, Consensus and EPS Surprise
The Hanover Insurance Group, Inc. price-consensus-eps-surprise-chart | The Hanover Insurance Group, Inc. Quote
THG Delivers Better Combined Ratio Despite Cat Losses
Underwriting profitability strengthened in the quarter, with the consolidated combined ratio improving to 91.7% from 94.1% a year ago.
Catastrophe losses were $98.9 million, adding 6.3 points to the combined ratio.
Excluding catastrophes, the combined ratio improved to 85.4%, supported by a 2.3-point year-over-year decline in the loss and loss adjustment expense ratio. The current accident year combined ratio, excluding catastrophes, was 87.0%, pointing to better core underwriting performance.
Net premiums written increased to $1,559.7 million from $1,510.8 million, aided by renewal pricing and disciplined growth across businesses.
The Hanover’s Core Commercial Segment Benefits From Rate Action
Core Commercial generated net premiums written of $630.4 million, up 4.3% from the prior-year quarter. Renewal price increases were 8.6%, while rate increases were 7.5%, reflecting continued emphasis on adequate pricing and targeted appetite across small commercial and middle-market accounts.
Profitability improved meaningfully as underwriting actions flowed through. The segment’s combined ratio was 96.6% versus 103.4% a year ago, with the total loss and LAE ratio improving to 63.9% from 70.0%. Prior-year favorable development, excluding catastrophes, was 0.3 points, and GAAP underwriting profit swung to $17.8 million from a loss of $20.0 million in the prior-year period.
THG Specialty Segment Posts Strong Underwriting Profit
Specialty net premiums written increased 2.3% year over year to $366.7 million. Renewal price increases were 4.6% and rate increases were 2.4%, indicating steady momentum while maintaining underwriting discipline across the segment’s marine, professional, and other specialty offerings.
The segment produced a combined ratio of 84.2%, an improvement from 87.7% in the prior-year quarter. A lower total loss and loss adjustment expense ratio of 47.8% (down from 50.7%) helped lift GAAP underwriting profit to $56.1 million from $41.2 million, while the expense ratio was 36.4% compared with 37.0% a year earlier.
Story Continues
The Hanover’s Personal Lines Segment Mixed as Pricing Stays Firm
Personal Lines net premiums written rose 2.7% year over year to $562.6 million. Renewal price increases were 8.4% and rate increases were 4.3%, underscoring continued pricing traction as the company works to improve profitability in auto and homeowners lines.
Even with that pricing support, results were more mixed. The segment’s combined ratio was 91.5% compared with 89.7% a year earlier, as catastrophe losses remained elevated for the book, with a current-year catastrophe loss ratio of 12.4% versus 5.8% in the prior-year quarter. The total loss and LAE ratio was 65.8% compared with 64.4% a year ago, and GAAP underwriting profit totaled $52.3 million, down from $61.7 million.
THG Balance Sheet Advances With Book Value Increase
Hanover ended the quarter with book value per share of $101.86, up 1% from Dec. 31, 2025.
The investment portfolio expanded, with total investments rising 4% to $10.80 billion as of March 31, 2026, including fixed maturities of $9.98 billion. The company also reduced leverage, with short-term debt falling to $50.1 million from $375.0 million and long-term debt declining to $793.7 million from $843.3 million.
As of March 31, 2026, the operating insurance company's statutory capital and surplus were $3.54 billion, up from $3.34 billion as of Dec. 31, 2025.
Capital Deployment
From the start of the year till April 28, 2026, THG repurchased about 0.6 million shares for $101 million, of which about 0.5 million were repurchased during the first quarter of 2026 for $87 million. The company has about $72 million of remaining capacity under its existing share repurchase program.
Zacks Rank
THG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
Selective Insurance Group SIGI reported first-quarter 2026 operating income of $1.69 per share, which missed the Zacks Consensus Estimate by 2.3%. The bottom line decreased 11% year over year.
Operating revenues of $1.4 billion increased 6.4% from the year-ago quarter’s level, driven primarily by higher net premiums earned and net investment income. The top line missed the Zacks Consensus Estimate by 0.5%. Net premiums written (NPW) decreased 1% to $1.3 billion. The figure was on par with our estimate.
W.R. Berkley Corporation WRB reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
Total revenues were $3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. The top line missed the consensus estimate by 0.28%. W.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure missed our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Kinsale Capital Group, Inc. KNSL delivered first-quarter 2026 net operating earnings of $5.11 per share, which outpaced the Zacks
Consensus Estimate by 8.7%. The bottom line increased 37.7% year over year. Operating revenues increased 10.2% year over year to $467 million, which beat the Zacks Consensus Estimate by 0.1%.
Kinsale Capital’s underwriting income was $94.5 million, up 40% year over year. The combined ratio improved 470 basis points (bps) year over year to 77.4 compared with the Zacks Consensus Estimate of 79.1. The loss ratio improved 580 bps to 56.3, reflecting lower catastrophe losses and favorable reserve development. The expense ratio deteriorated 110 bps year over year to 21.1.
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- ALL Q1 Earnings Beat Estimates on Strong Underwriting, Lower Expenses
Apr 30, 2026
The Allstate Corporation ALL reported a first-quarter 2026 adjusted net income of $10.65 per share, which outpaced the Zacks Consensus Estimate by 43.3%. The bottom line surged 201.7% year over year.
Operating revenues of $17.3 billion grew 3.2% year over year. However, the top line missed the consensus mark by 2%.
Allstate’s quarterly results were driven by higher property and casualty insurance premiums, improved net investment income and lower catastrophe losses. Lower expenses and strong underwriting performance further aided results.
The Allstate Corporation Price, Consensus and EPS SurpriseThe Allstate Corporation Price, Consensus and EPS Surprise
The Allstate Corporation price-consensus-eps-surprise-chart | The Allstate Corporation Quote
Key Takeaways From Allstate’s Q1 Results
Property and casualty insurance premiums improved 5.8% year over year to $15.6 billion. Net investment income of $938 million advanced 9.8% year over year on the back of a growing market-based portfolio. The metric beat the Zacks Consensus Estimate of $895 million and our estimate of $935 million. Market-based investment income rose 10% year over year to $791 million in the quarter under review.
Total costs and expenses were $13.8 billion, which decreased 12.1% year over year and was lower than our estimate of $15.5 billion. The year-over-year decline was due to decreased property and casualty insurance claims and claims expenses, accident, health and other policy benefits and Pension and other postretirement remeasurement (gains) losses. Catastrophe losses of $1.2 billion dropped 43.7% year over year.
Allstate’s pretax income increased significantly, up 332.3% year over year to $3.1 billion. As of Dec. 31, 2025, total policies in force were 212 million, up 2.5% year over year.
ALL’s Segmental Performances
The Property-Liability segment reported premiums earned of $14.8 billion in the first quarter, up 5.5% year over year, driven by higher average premiums in homeowners insurance and growth in policies in force. However, the metric missed both the Zacks Consensus Estimate and our estimate of $15.1 billion. Underwriting income in the segment surged 638.3% year over year to $2.7 billion. The underlying combined ratio improved 280 basis points to 80.3%.
The Protection Services segment’s revenues advanced 7.2% year over year to $922 million, aided by Allstate Protection Plans and Roadside businesses. The metric lagged our estimate of $958.9 million. Adjusted net income of $47 million declined 14.5% year over year.
Financial Update (As of March 31, 2026)
Allstate exited the first quarter with a cash balance of $697 million, up from $678 million at 2025-end. Total assets increased to $124 billion from $119.8 billion at the end of 2025.
Story Continues
Debt remained unchanged at $7.5 billion from the 2025-end level.
Total equity increased to $31.6 billion from $30.6 billion at 2025-end.
Book value per common share was $113.52 as of March 31, 2026, up 52.2% year over year.
ALL’s Zacks Rank
Allstate currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
Of the insurance industry players that have reported first-quarter 2026 results so far, the bottom-line results of W.R. Berkley Corporation WRB, The Travelers Companies, Inc. TRV and AXIS Capital Holdings Limited (AXS beat the respective Zacks Consensus Estimate.
W.R. Berkley reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year. WRB’s total revenues were $3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. Net premiums written were about $3.2 billion, up 1.3% year over year. The figure, however, beat our estimate as well as the Zacks Consensus Estimate of $3.2 billion.
The Travelers Companies reported first-quarter 2026 core income of $7.71 per share, which beat the Zacks Consensus Estimate by 10.5%. The bottom line surged fourfold year over year. Total revenues remained flat from the year-ago quarter at $11.9 billion. TRV’s net written premiums increased 2% year over year to a record $10.3 billion, driven by strong growth across Business Insurance and Bond & Specialty Insurance segments. Net investment income increased 8.4% year over year to $1 billion. The figure matched the Zacks Consensus Estimate.
AXIS Capital reported first-quarter 2026 operating income of $3.42 per share, which outpaced the Zacks Consensus Estimate of $3.23 and rose 7.9% year over year. Total operating revenues of $1.7 billion, which marginally beat the Zacks Consensus Estimate by 0.4%. The top line rose nearly 7.7% year over year on higher premiums earned. AXS’s net premiums written increased 9% to $1.9 billion, driven by a 24% rise in the Insurance segment, partially offset by a 13% decline in the Reinsurance segment. Net investment income decreased 11.1% year over year to $184.7 million, due to lower income from cash.
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- AXIS Capital Q1 Earnings Beat Estimates on Solid Underwriting Income
Apr 30, 2026
AXIS Capital Holdings Limited AXS reported first-quarter 2026 operating income of $3.42 per share, which outpaced the Zacks Consensus Estimate of $3.23 and rose 7.9% year over year.
The quarterly results benefited from higher net premiums earned and stronger underwriting income, partly offset by lower net investment income and higher expenses.
Axis Capital Holdings Limited Price, Consensus and EPS SurpriseAxis Capital Holdings Limited Price, Consensus and EPS Surprise
Axis Capital Holdings Limited price-consensus-eps-surprise-chart | Axis Capital Holdings Limited Quote
AXS’s Quarterly Operational Update
Total operating revenues of $1.7 billion marginally beat the Zacks Consensus Estimate by 0.4%. The top line rose nearly 7.7% year over year on higher premiums earned.
Net premiums written increased 9% to $1.9 billion, driven by a 24% rise in the Insurance segment, partially offset by a 13% decline in the Reinsurance segment.
Net investment income decreased 11.1% year over year to $184.7 million, due to lower income from cash. The Zacks Consensus Estimate was pegged at $225.1 million.
Total expenses in the quarter increased 3.8% year over year to $1.3 billion due to higher net losses and loss expenses, acquisition costs and reorganization expenses. Our estimate was pegged at $1.4 billion.
Pre-tax catastrophe and weather-related losses, net of reinsurance, totaled $48 million, including $33 million from natural catastrophes. The remaining $15 million was attributable to the Middle East conflict.
AXIS Capital’s underwriting income of $187 million increased 15% year over year. The combined ratio improved to 89.8 in the quarter from 90.2 a year ago, reflecting stronger underwriting performance. The Zacks Consensus Estimate was pegged at 93.1. Our estimate was 92.6.
Segment Results
Insurance: Gross premiums written improved 19.8% year over year to $2 billion. Our estimate was $1.8 billion. Net premiums earned increased 23.8% year over year to $1.3 billion, driven by higher gross premiums written and a lower cession rate in liability lines, partly offset by a higher cession rate in property lines. Our estimate was $1.1 billion.
Underwriting income of $157.4 million increased 17% year over year. The combined ratio improved 40 basis points to 86.3. The Zacks Consensus Estimate for the combined ratio was pegged at 88.4.
Reinsurance: Gross premiums written decreased 2.2% year over year to $1.1 billion, mainly due to non-renewals and reduced line sizes in liability and motor lines, in line with our estimate of $1.1 billion. Net premiums earned increased 2.4% year over year to $338.7 million, exceeding our estimate of $315.3 million.
Story Continues
Underwriting income of $30 million increased 3.8% year over year. The combined ratio deteriorated 40 basis points, up 92.7%. The Zacks Consensus Estimate for the combined ratio was pegged at 101.
Financial Update
AXIS Capital exited the first quarter with cash and cash equivalents of $862.4 million, up 5.1% from the 2025-end level. Debt was $1.3 billion at quarter-end, unchanged from the 2025 year-end level.
Book value per diluted common share was $78.19, up 1.3% from the Dec. 31, 2025, level.
An annualized operating ROACE of 17.7% reflected strong capital efficiency despite easing from 19.2% a year ago.
Capital Deployment
AXIS Capital returned $93 million to common shareholders in the quarter, including $60 million in share repurchases and $33 million in dividends.
AXS’s Zacks Rank
AXIS Capital currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
American Financial Group, Inc. AFG reported first-quarter 2026 net operating earnings per share of $2.47, which missed the Zacks Consensus Estimate of $2.55. However, the bottom line increased 36.5% year over year, driven by underwriting income. American Financial‘s total revenues of $1.8 billion decreased 1.7% year over year. The top line also missed the Zacks Consensus Estimate by 8.3%.
AFG’s net earned premiums rose 1.8% year over year to $1.6 billion in the first quarter of 2026. Net investment income rose 8.1% year over year to $187 million in the quarter under review. The figure was lower than our estimate of $199.8 million and also missed the Zacks Consensus Estimate of $210.2 million.
W.R. Berkley Corporation WRB reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
WRB’s total revenues were $3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. W.R. Berkley’s top line missed the consensus estimate by 0.28%. The company’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure, however, beat our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Chubb Limited CB reported first-quarter 2026 core operating income of $6.82 per share, which outpaced the Zacks Consensus Estimate by 5.2%. The bottom line decreased 85.2% year over year. CB’s total operating revenues improved 11.8% year over year to $15.3 billion. The top line beat the Zacks Consensus Estimate by 3%.
Chubb’s net premiums written improved 10.7% year over year to $14 billion in the quarter. Our estimate was $13.6 billion, while the Zacks Consensus Estimate was pegged at $13.5 billion. Net investment income was $1.7 billion, up 9.5% year over year. The Zacks Consensus Estimate was pegged at $1.8 billion.
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This article originally published on Zacks Investment Research (zacks.com).
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- AFG Q1 Earnings Miss Estimates, Revenues Decline 1.7% Y/Y
Apr 30, 2026
American Financial Group, Inc. AFG reported first-quarter 2026 net operating earnings per share of $2.47, which missed the Zacks Consensus Estimate of $2.55. However, the bottom line increased 36.5% year over year, driven by underwriting income.
Total revenues of $1.8 billion decreased 1.7% year over year. The decline was due to lower investment income and realized gains (losses) on securities. The top line also missed the Zacks Consensus Estimate by 8.3%.
AFG’s first-quarter results were weighed down by weaker performance in its alternative investment portfolio, which offset strong underwriting results in its Specialty Property & Casualty (“P&C”) insurance segment.
American Financial Group, Inc. Price, Consensus and EPS SurpriseAmerican Financial Group, Inc. Price, Consensus and EPS Surprise
American Financial Group, Inc. price-consensus-eps-surprise-chart | American Financial Group, Inc. Quote
Behind the Headlines
Net earned premiums rose 1.8% year over year to $1.6 billion in the first quarter of 2026. The figure was below both the Zacks Consensus Estimate and our estimate of $1.8 billion.
Net investment income rose 8.1% year over year to $187 million in the quarter under review. The figure was lower than our estimate of $199.8 million and also missed the Zacks Consensus Estimate of $210.2 million.
Total costs and expenses decreased 2.7% year over year to $1.6 billion due to lower losses & loss adjustment expenses, interest charges on borrowed money and expenses of managed investment entities. The figure was lower than our estimate of $1.8 billion.
Segmental Update
The Specialty P&C Insurance segment generated $1.7 billion in net written premiums, which improved 3% year over year, driven by new business, favorable renewal rates and higher exposures, supported by diversified operations and disciplined underwriting.
Net written premiums in the Property & Transportation Group increased 6% year over year to $596 million in the quarter.
Net written premiums at the Specialty Casualty Group increased 2% year over year to $789 million. Further, net written premiums at Specialty Financial Group rose 1% year over year to $279 million.
The Specialty P&C Insurance segment’s underwriting profit increased 66% year over year to $156 million in the quarter, driven by higher underwriting profit across all three groups. The figure exceeded our estimate of $145 million. Pre-tax core operating earnings before income taxes of the P&C Insurance segment were $309 million, up 25.6% year over year.
In the Specialty Financial Group, a higher year-over-year underwriting profit of $57 million was primarily driven by stronger performance in its fidelity/crime and financial institutions businesses. Catastrophe losses in Specialty Financial Group totaled $12 million in the reported quarter, narrower than the year-ago loss of $35 million. The current combined ratio of 80% improved 70 basis points year over year. The results benefited from favorable prior-year reserve development.
Story Continues
Financial Update
American Financial exited the first quarter of 2026 with total cash and investments of $17.1 billion, which decreased 0.2% from the 2025-end level. Long-term debt of $1.82 billion in the first quarter of 2026 remained the same as the 2025-end level.
As of March 31, 2026, the company’s book value per share, excluding accumulated other comprehensive income (AOCI), was $57.83 compared to $58.38 at the end of 2025. Annualized return on equity was 15.8% in the first quarter, which increased 250 basis points year over year.
AFG’s Prudent Capital Deployment
American Financial returned $259 million to shareholders in the first quarter of 2026, consisting of $125 million in special dividends and $60 million in share repurchases. It paid total cash dividends of $2.38 per share, which included a $1.50 per share special dividend paid in February 2026.
AFG’s Zacks Rank
American Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
The Progressive Corporation’s PGR first-quarter 2026 earnings per share of $4.96 beat the Zacks Consensus Estimate by 2.5%. The bottom line increased 6.7% year over year. Net premiums written were $23.6 billion in the quarter, up 6.5% from $22.2 billion a year ago.
PGR's Net premiums earned grew 8% to $20.9 billion. The reported figure beat the Zacks Consensus Estimate by 1.5%. Operating revenues grew 8.2% year over year to $22.3 billion, driven by 8% higher net premiums earned, a 12.7% increase in net investment income, a 3.5% rise in fees and other revenues, and 13.5% higher service revenue. The top line missed the Zacks Consensus Estimate by 1.2%.
W.R. Berkley Corporation WRB reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year. Total revenues were $3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. The top line missed the consensus estimate by 0.3%.
W.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure missed our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Chubb Limited CB reported first-quarter 2026 core operating income of $6.82 per share, which outpaced the Zacks Consensus Estimate by 5.2%. The bottom line decreased 85.2% year over year. Total operating revenues improved 11.8% year over year to $15.3 billion. The top line beat the Zacks Consensus Estimate by 3%.
CB's Net premiums written improved 10.7% year over year to $14 billion in the quarter. Our estimate was $13.6 billion, while the Zacks Consensus Estimate was pegged at $13.5 billion. Net investment income was $1.7 billion, up 9.5% year over year. The Zacks Consensus Estimate was pegged at $1.8 billion, and our estimate was $2 billion.
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- 3 Big Reasons WRB Should Be On Your Watchlist
Apr 29, 2026
Over the past six months, W. R. Berkley’s shares (currently trading at $66.20) have posted a disappointing 8.8% loss, well below the S&P 500’s 3.9% gain. This was partly driven by its softer quarterly results and may have investors wondering how to approach the situation.
Given the weaker price action, is now a good time to buy WRB? Find out in our full research report, it’s free.
Why Do Investors Watch WRB Stock?
Founded in 1967 and operating through more than 50 specialized insurance units across the globe, W. R. Berkley (NYSE:WRB) underwrites commercial insurance and reinsurance through specialized subsidiaries serving industries from healthcare to construction to transportation.
Three Positive Attributes:
1. Net Premiums Earned Skyrocket, Fueling Growth Opportunities
Net premiums earned are net of what’s paid to reinsurers (insurance for insurance companies), which are used by insurers to protect themselves from large losses.
W. R. Berkley’s net premiums earned has grown at a 12.1% annualized rate over the last five years, better than the broader insurance industry and in line with its total revenue.W. R. Berkley Trailing 12-Month Net Premiums Earned
2. Outstanding Long-Term EPS Growth
Analyzing the long-term change in earnings per share (EPS) shows whether a company's incremental sales were profitable – for example, revenue could be inflated through excessive spending on advertising and promotions.
W. R. Berkley’s EPS grew at 30.6% compounded annual growth rate over the last five years, higher than its 12% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.W. R. Berkley Trailing 12-Month EPS (Non-GAAP)
3. Projected BVPS Growth Is Remarkable
An insurer’s book value per share (BVPS) increases when it maintains a profitable pre-tax profit margin and effectively manages its investment portfolio.
Over the next 12 months, Consensus estimates call for W. R. Berkley’s BVPS to grow by 22.1% to $27.79, elite growth rate.W. R. Berkley Quarterly Book Value per Share
Final Judgment
W. R. Berkley is an interesting business with potential. With the recent decline, the stock trades at 2.4× forward P/B (or $66.20 per share). Is now the time to initiate a position? See for yourself in our comprehensive research report, it’s free.
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