AXS

Looking back on reinsurance stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including AXIS Capital (NYSE:AXS) and its peers. This is a cyclical industry, and the sector benefits when there is 'hard market', characterized by strong premium rate increases that outpace loss and cost inflation, resulting in robust underwriting margins. The opposite is true in a 'soft market'. Interest rates also matter, as they determine the yields earned on fixed-income portfolios. The primary headwind remains the immense and concentrated exposure to large-scale catastrophe losses, as the growing impact of climate change challenges traditional risk models and creates significant earnings volatility. Additionally, they face the risk of adverse prior-year reserve development, where claims prove more costly than anticipated, while the eventual influx of new capital from alternative sources threatens to soften the market and compress future returns. The 6 reinsurance stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 3.8%. While some reinsurance stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.1% since the latest earnings results. Founded in the aftermath of the 9/11 attacks when insurance capacity was scarce, AXIS Capital Holdings Limited (NYSE:AXS) is a global specialty insurer and reinsurer that provides coverage for complex risks across property, liability, professional lines, cyber, and other specialty markets. AXIS Capital reported revenues of $1.71 billion, up 7.3% year on year. This print fell short of analysts’ expectations by 3.6%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ net premiums earned and EPS estimates. AXIS Capital delivered the weakest performance against analyst estimates among its peers. The market seems disappointed with the results as the stock is down 16.1% since reporting and currently trades at $100.06. Read our full report on AXIS Capital here, it’s free. Founded in 2013 and operating through three distinct underwriting platforms across four countries, Hamilton Insurance Group (NYSE:HG) operates global specialty insurance and reinsurance platforms across Lloyd's, Ireland, Bermuda, and the United States. Hamilton Insurance Group reported revenues of $839.6 million, up 13.3% year on year, outperforming analysts’ expectations by 19.9%. The business had an incredible quarter with a beat of analysts’ EPS estimates. Hamilton Insurance Group delivered the biggest analyst estimate beat in the group. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $35.34. Is now the time to buy Hamilton Insurance Group? Access our full analysis of the earnings results here, it’s free. Rebranded from Everest Re in 2023 to reflect its evolution beyond just reinsurance, Everest Group (NYSE:EG) underwrites property and casualty reinsurance and insurance worldwide, serving insurance companies, corporations, and other clients across six continents. Everest Group reported revenues of $3.96 billion, down 11.8% year on year, falling short of analysts’ expectations by 1.8%. It was a softer quarter as it posted a significant miss of analysts’ net premiums earned and book value per share estimates. As expected, the stock is down 4.1% since the results and currently trades at $377.76. Read our full analysis of Everest Group’s results here. Founded in Bermuda in 2014 and designed to adapt nimbly to evolving market conditions, Pelagos Insurance (NYSE:PLGO) is a global specialty insurance and reinsurance company focused on creating value through strategic capital allocation, expert risk selection and a network of long-term underwriting partnerships. Pelagos Insurance reported revenues of $650 million, up 10.3% year on year. This number beat analysts’ expectations by 1.6%. Aside from that, it was a softer quarter as it recorded a significant miss of analysts’ EPS and net premiums earned estimates. The stock is flat since reporting and currently trades at $24.52. Read our full, actionable report on Pelagos Insurance here, it’s free. Born in Bermuda after the devastating Hurricane Andrew created a crisis in the catastrophe insurance market, RenaissanceRe (NYSE:RNR) provides property, casualty, and specialty reinsurance and insurance solutions to customers worldwide, primarily through intermediaries. RenaissanceRe reported revenues of $2.77 billion, down 13.7% year on year. This result topped analysts’ expectations by 3.7%. Overall, it was a very strong quarter as it also produced a beat of analysts’ EPS estimates. RenaissanceRe had the slowest revenue growth of the whole group. The stock is up 3.4% since reporting and currently trades at $330.66. Read our full, actionable report on RenaissanceRe here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. 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It has been about a month since the last earnings report for Axis Capital (AXS). Shares have lost about 5.6% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Axis Capital due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Axis Capital Holdings Limited before we dive into how investors and analysts have reacted as of late. AXIS Capital Q2 Earnings Miss Estimates on Higher Catastrophe LossesAXIS Capital Holdings posted second-quarter 2026 operating income of $2.84 per share, which missed the Zacks Consensus Estimate of $3.23 and fell 12.1% year over year.The quarterly results reflected higher net premiums earned and continued premium growth. However, higher catastrophe losses, lower net investment income and increased operating expenses weighed on performance. Total operating revenues of $1.7 billion marginally missed the Zacks Consensus Estimate by 1%. The top line rose 7.4% year over year on higher premiums earned.Net premiums written decreased 1.8% to $1.6 billion, reflecting lower premiums in the Reinsurance segment, partially offset by growth in the Insurance segment.Net investment income decreased 3% year over year to $181.6 million, due to lower income from alternative investments and cash. The Zacks Consensus Estimate was pegged at $208.7 million.Total expenses in the reported quarter increased 6.2% year over year to $1.4 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 $152 million, including $95 million from natural catastrophes. The remaining $57 million was attributable to weather-related events.AXIS Capital’s underwriting income of $142.9 million decreased 24.5% year over year. The combined ratio deteriorated to 93.1 in the second quarter from 88.9 a year ago, reflecting higher catastrophe and weather-related losses. The Zacks Consensus Estimate was pegged at 93.2. Our estimate was 93.8. Insurance: Gross premiums written improved 15.3% year over year to $2.2 billion. Our estimate was $2.1 billion. Net premiums earned increased 14.9% year over year to $1.2 billion, driven by premium growth across most business lines. Our estimate was $1.1 billion.Underwriting income of $119.4 million decreased 21.3% year over year. The combined ratio deteriorated 470 basis points to 90. The Zacks Consensus Estimate for the combined ratio was pegged at 89.7.Reinsurance: Gross premiums written decreased 24.7% year over year to $439.5 million, mainly due to lower renewals and portfolio optimization compared to our estimate of $554.9 million. Net premiums earned declined 8% year over year to $331.8 million. Our estimate was pinned at $399.5 million.Underwriting income of $23.6 million decreased 37.3% year over year. The combined ratio deteriorated 250 basis points to 94.5. The Zacks Consensus Estimate for the combined ratio was pegged at 94.1. AXIS Capital exited the second quarter with cash and cash equivalents of $780 million, down 4.9% from the 2025-end level. Debt remained essentially unchanged at $1.32 billion.Shareholders' equity increased 2.3% from the 2025-end level to $6.5 billion.Book value per diluted common share was $79.01, up from $78.19 as of Dec. 31, 2025.Annualized operating return on average common equity (operating ROACE) was 14.3%, down from 19% a year ago. AXIS Capital returned $84 million to common shareholders in the second  quarter, including $52 million in share repurchases and $32 million in dividends. The company also declared a quarterly dividend of 44 cents per common share. Since the earnings release, investors have witnessed a downward trend in estimates review. The consensus estimate has shifted -11.57% due to these changes. At this time, Axis Capital has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock has a score of A on the value side, putting it in the top 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Axis Capital has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Palomar Holdings, Inc. PLMR, a specialty insurance provider, offers coverage across earthquake, inland marine, property, casualty, crop, and surety and credit markets. Its diversified specialty portfolio and disciplined underwriting approach remain key drivers of profitability. Palomar's premium growth has remained a key earnings catalyst. In the second quarter of 2026, gross written premiums increased 27% year over year to $630.5 million, driven by broad-based momentum across casualty, crop, inland marine and property, and surety and credit. New business production and policy count increased year over year, while premium retention exceeded 96%, supporting sustained earned premium growth. The company continues to grow premiums through new products, distribution relationships, program partnerships, geographic expansion and rate increases in selected lines. In the second quarter of 2026, net earned premiums surged 59.5% year over year to $287 million, aided by improved excess-of-loss reinsurance terms, greater premium retention, growth in quota-share businesses, such as crop, as well as the Gray Surety acquisition. Higher premiums are contributing to underwriting income and earnings, although pricing remains critical to profitability. In second-quarter 2026, the adjusted combined ratio increased to 76.7% from 73.1%, while commercial earthquake pricing remains competitive. Still, the larger premium base supported higher underwriting income and earnings. Overall, Palomar's specialty-market expertise, strong premium growth and disciplined underwriting provide a solid foundation for continued earnings growth. Sustaining this momentum will depend on balancing expansion with adequate pricing and underwriting profitability. Axis Capital Holdings Limited AXS, a global specialty underwriter, has a strategic focus on specialty products, such as professional liability, cyber, marine and aviation. AXS has been witnessing an increase in its top line over a considerable period of time on the back of higher net premiums, led by its strong Insurance segment. It continues to boost shareholder value through buybacks and dividend hikes. RLI Corp. RLI, another specialty insurer, benefits from premium growth across its diversified property, casualty and surety businesses. The insurer continues to emphasize disciplined underwriting while pursuing profitable premium growth. It also benefits from investment income generated from its growing invested asset base, providing an additional source of earnings. Shares of PLMR have gained 12.7% in the past three months compared with the industry’s growth of 4.6%. Image Source: Zacks Investment Research The stock is overvalued compared with its industry. It is currently trading at a price-to-book value multiple of 3.48, higher than the industry average of 1.41. Image Source: Zacks Investment Research The Zacks Consensus Estimate for Palmar’s 2026 earnings per share (EPS) indicates a year-over-year increase of 27.5%. The consensus estimate for revenues is pegged at $1.29 billion, implying a year-over-year improvement of 49.3%. The consensus estimate for 2027 EPS and revenues indicates an increase of 11.3% and 19.5%, respectively, from the corresponding 2026 estimates. The Zacks Consensus Estimate for PLMR’s 2026 and 2027 EPS has moved up 2.3% and 2.7%, respectively, in the past 30 days. Image Source: Zacks Investment Research PLMR stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Palomar Holdings, Inc. (PLMR) : Free Stock Analysis Report RLI Corp. (RLI) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

W. R. Berkley Corporation WRB, one of the nation’s largest commercial lines property and casualty insurance providers, offers a variety of insurance services, from reinsurance to workers’ comp third-party administrators across the United States. The insurance segment is W.R. Berkley’s core earnings engine, generating the majority of its premiums and underwriting income.In 2025, the segment generated $11.18 billion in net premiums written, up from $10.55 billion in 2024. Its 91.7% combined ratio reflected strong underwriting profitability. The segment continued to perform well in the first half of 2026, with net premiums written rising 3.4% year over year.W.R. Berkley’s Insurance segment is the company’s primary revenue-generating business, as it provides a broad range of property and casualty insurance products to commercial customers. The segment earns revenues primarily by collecting premiums from policyholders in exchange for providing coverage against various risks. A key advantage of the Insurance segment is its focus on disciplined underwriting and specialized risk selection, which enables Berkley to pursue premium growth while maintaining underwriting profitability rather than relying solely on higher policy volumes to increase revenues.The Insurance segment supports Berkley through two complementary channels: underwriting earnings from insurance operations and investment income from investing premiums before claims are paid. The combination of underwriting income and investment income supports WRB’s ability to generate attractive returns on equity.Overall, the Insurance segment aids W.R. Berkley by generating substantial premium revenues, producing underwriting profits through disciplined risk selection and creating investable funds that generate additional investment income. This combination helps WRB achieve profitable growth and strengthens its overall earnings base. Axis Capital Holdings Limited AXS, a global specialty underwriter, has a strategic focus on specialty products, including professional liability, cyber insurance, marine and aviation. AXS has been witnessing an increase in its top line over a considerable period of time on the back of higher net premiums. Its well-performing Insurance segment largely contributes to improving premiums. It continues to boost shareholder value through stock buybacks and dividend hikes.Palomar Holdings, Inc. PLMR has been displaying a good track record of net written premiums due to increased volume of policies written across the lines of business, driven by new business generated with existing partners, strong premium retention rates for existing business, expansion of its products’ geographic and distribution footprint, and new partnerships. Backed by sustained operational performance, the company has maintained a solid capital position. Shares of WRB have lost 2.5% in the past year against the industry’s growth of 4.3%. Image Source: Zacks Investment Research The stock is overvalued compared with its industry. It is currently trading at a price-to-book value multiple of 2.63, higher than the industry average of 1.42. Image Source: Zacks Investment Research The Zacks Consensus Estimate for WRB’s third-quarter 2026 EPS has moved down 0.9%, while the same for fourth-quarter 2026 EPS has moved up 1.7% in the past 60 days. The same for full-year 2026 EPS has moved up 3.4%, while the same for 2027 EPS has moved down 0.2% in the past 60 days.The consensus estimate for WRB’s 2026 EPS and revenues indicates a year-over-year increase. Image Source: Zacks Investment Research WRB stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report Palomar Holdings, Inc. (PLMR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Octave Specialty Group, Inc. OSG reported a second-quarter 2026 adjusted loss of 4 cents per share, narrower than the year-ago loss of 22 cents but wider than the Zacks Consensus Estimate of a 1-cent loss by 300%. Revenues rose 51% year over year to $83 million, beating the consensus estimate by 2.46%. Results benefited from strong Insurance Distribution growth and improving Everspan performance. Everspan's net premiums earned increased 34% year over year to $21.7 million. Octave Specialty Group, Inc. price-consensus-eps-surprise-chart | Octave Specialty Group, Inc. Quote Insurance Distribution revenues climbed 77% year over year to $58.4 million. Premiums placed increased 26% to $314.4 million, while organic revenue growth was 44.1%, reflecting growth across the Managing General Agent (MGA) portfolio and contributions from businesses launched over the past two years. The October 2025 ArmadaCare acquisition also supported the top line. Adjusted EBITDA attributable to shareholders surged to $9.8 million from $2.5 million a year earlier. The related margin expanded 920 basis points to 16.8%. Higher profit commissions and a larger ownership position in Octave Ventures also aided performance. Everspan generated revenues of $26.4 million, up 23% year over year. Gross premiums written dipped 2% to $94.7 million, while net premiums written jumped 52% to $23.1 million, reflecting a higher level of retained business.The combined ratio improved 610 basis points to 100.6%, helped by a 640-basis-point decline in the loss ratio to 61.4%. The expense ratio edged up 30 basis points to 39.2%. Adjusted EBITDA attributable to shareholders increased 158% to $1.8 million. Total expenses increased 21% year over year to $94.7 million. General and administrative expenses rose to $51.4 million from $40.5 million, while intangible amortization and depreciation increased to $12.3 million from $9.7 million.Interest expense declined to $2.8 million from $5.6 million. Consolidated adjusted EBITDA attributable to shareholders improved to $3.7 million from a loss of $4.6 million, while adjusted net loss attributable to shareholders narrowed to $1.8 million from $10.6 million. Management raised its 2026 Insurance Distribution organic growth outlook to at least 25% from at least 20%. Adjusted EBITDA guidance for the segment was increased to $45 million from $40 million, reflecting continued momentum and portfolio diversity. However, Everspan's adjusted EBITDA forecast was reduced to $6 million from $7.5 million because of higher acquisition costs tied to newer programs. OSG also lowered its adjusted net income per share outlook to 15-20 cents from 50 cents, reflecting updated interest, depreciation, tax and noncontrolling-interest assumptions. OSG ended June with total assets of $2.28 billion, compared with $2.27 billion as of March-end. Cash and cash equivalents declined to $79.1 million from $93.5 million, while total investments decreased to $241.7 million from $254.4 million.Long-term debt increased to $155.5 million from $117.1 million. Stockholders' equity attributable to common shareholders declined to $698.8 million from $712.6 million, with book value per share falling to $15.52 from $15.83. Management said nearly 75% of second-quarter organic growth came from MGAs launched in 2024 and 2025. Those nine launches represent about 40% of Octave's MGA portfolio, with roughly half already generating EBITDA. The company still expects one or two MGA launches in 2026 and targets two to four in 2027. Octave also continued rolling out its AI-driven underwriting platform. In one use case, the technology reduced submission-to-quote time from several hours to about seven minutes. Management expects implementation across the remaining applicable U.S. MGAs during the second half of 2026. OSG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Selective Insurance Group, Inc. SIGI reported second-quarter 2026 operating earnings of $1.95 per share, which beat the Zacks Consensus Estimate by 13.4%. The bottom line increased 48.9% year over year. Revenues of $1.37 billion rose 4.5% from the year-ago quarter and topped the consensus estimate by 0.7%. Net premiums written declined 5% year over year to $1.22 billion due to a 6% decrease in Standard Commercial Lines, an 8% fall in Standard Personal Lines and a 2% decline in Excess and Surplus Lines. Our estimate was $1.33 billion. Net premiums earned increased 2.3%. Direct new business fell to $206.1 million from $248.1 million. Renewal pure price increases averaged 6.5%, down from 9.9% in the prior-year quarter.AXIS Capital Holdings Limited AXS reported second-quarter 2026 operating income of $2.84 per share, which missed the Zacks Consensus Estimate of $3.23 and fell 12.1% year over year. Total operating revenues of $1.7 billion marginally missed the Zacks Consensus Estimate by 1%. The top line rose nearly 7.4% year over year on higher premiums earned.Net premiums written decreased 1.8% to $1.6 billion, reflecting lower premiums in the Reinsurance segment, partially offset by growth in the Insurance segment. AXIS Capital’s underwriting income of $142.9 million decreased 24.5% year over year. The combined ratio deteriorated to 93.1 in the quarter from 88.9 a year ago, reflecting higher catastrophe and weather-related losses. The Zacks Consensus Estimate was pegged at 93.2. Our estimate was 93.8.Cincinnati Financial Corporation's CINF reported second-quarter 2026 operating income of $1.43 per share, which missed the Zacks Consensus Estimate by 21.4%. The bottom line declined 27.4% from the year-ago quarter. Total operating revenues for the quarter were $3 billion, reflecting a 6.8% year-over-year increase. The figure, however, missed the Zacks Consensus Estimate by 1.4%.Earned premiums climbed 6.3% year over year to $2.6 billion, driven by higher renewal pricing, increased insured exposures and new business growth. The figure marginally missed the Zacks Consensus Estimate by 1.5%.The combined ratio deteriorated 550 basis points year over year, underperforming the consensus estimate of 97.1. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Octave Specialty Group, Inc. (OSG) : Free Stock Analysis Report Cincinnati Financial Corporation (CINF) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Mercury General Corporation MCY reported second-quarter 2026 operating income of $3.52 per share, which surged 31.8% year over year and beat the Zacks Consensus Estimate of $1.80 by 95.6%. Revenues of $1.67 billion surpassed the consensus mark by 5.8%.The better-than-expected results reflected premium growth, improved underwriting profitability and higher investment income. The combined ratio improved 260 basis points year over year to 89.9%, despite an increase in catastrophe losses. Net premiums earned increased 9.6% year over year to $1.5 billion. Net premiums written rose 5.3% to $1.56 billion, while direct premiums written advanced 9.3% to $1.62 billion.The combined ratio, a key measure of underwriting profitability, improved to 89.9% from 92.5% in the prior-year quarter. The loss ratio declined 380 basis points to 65%, more than offsetting a 120-basis-point increase in the expense ratio to 24.9%. Mercury General Corporation price-consensus-eps-surprise-chart | Mercury General Corporation Quote Mercury General benefited from approximately $35 million of favorable development on prior accident years’ loss and loss adjustment expense reserves. This compared with approximately $4 million of unfavorable development in the year-ago period. Catastrophe losses, net of reinsurance, totaled $75 million, up sharply from $13 million in the prior-year quarter. The increase reflected adverse reserve development related to the Palisades and Eaton wildfires, along with losses from storms in Texas and Oklahoma.For the first six months of 2026, catastrophe losses totaled $168 million compared with $460 million a year earlier. The majority of 2026 losses included about $80 million of adverse development tied to the California wildfires and roughly $72 million from storms in Texas and Oklahoma.The year-to-date combined ratio improved to 89.6% from 105.4%. On an accident-period basis, which excludes prior-period reserve development, the ratio improved to 91.1% from 107.2%. Net investment income before taxes increased 14% year over year to $89.8 million. After-tax investment income rose 16.1% to $76.6 million.The increase was largely driven by average invested assets, which climbed 20.8% to $6.89 billion. However, the average annual pre-tax investment yield declined to 4.5% from 4.7%, primarily due to a greater allocation to tax-exempt securities carrying lower pre-tax yields.Net realized investment gains before taxes increased to $86.5 million from $23.5 million. Including these gains, net income rose 58.3% to $263.5 million, or $4.76 per share, from $166.5 million, or $3.01 per share. Total expenses rose 6.6% year over year to $1.35 billion. Loss and loss adjustment expenses increased 3.5% to $973.3 million.Policy acquisition costs climbed 9.9% to $250.3 million, while other operating expenses increased 28% to $122.9 million. Interest expense rose 9.9% to $7.9 million.Despite the higher expense base, income before taxes increased 58.3% to $327.3 million. Operating income, which excludes net realized investment gains, advanced 31.9% to $195.2 million. Total company-wide policies in force increased 4.2% from the 2025-end level to 2.36 million. Personal automobile policies rose 2.5% to 1.07 million.Homeowners policies increased 6.2% to 938,000, while commercial automobile policies remained unchanged at 34,000. Policies across the company’s other insurance lines rose 4.6% to 318,000.The continued expansion in policies supported premium growth across Mercury General’s predominantly personal automobile and homeowners insurance portfolio. Mercury General ended June with total assets of $10.54 billion, up 10.3% from the 2025-end level. Cash increased 29.3% to $1.70 billion, while total investments rose 8.4% to $7.13 billion.Shareholders’ equity climbed 17.3% to $2.84 billion. Book value per share increased to $51.20 from $43.64, while statutory surplus rose to $2.77 billion from $2.39 billion.The reported debt-to-total-capital ratio increased to 25.1% from 19.2%. Following the July redemption of $375 million in senior notes, the June 30 ratio would have been 16.9%. The board also declared a quarterly dividend of 31.75 cents per share, to be paid out on Sept. 24, 2026, to shareholders of record as of Sept. 10. MCY currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Selective Insurance Group, Inc. SIGI reported second-quarter 2026 operating earnings of $1.95 per share, which beat the Zacks Consensus Estimate by 13.4%. The bottom line increased 48.9% year over year. Revenues of $1.37 billion rose 4.5% from the year-ago quarter and topped the consensus estimate by 0.7%. Net premiums written declined 5% year over year to $1.22 billion due to a 6% decrease in Standard Commercial Lines, an 8% fall in Standard Personal Lines and a 2% decline in Excess and Surplus Lines. Our estimate was $1.33 billion. Net premiums earned increased 2.3%. Direct new business fell to $206.1 million from $248.1 million. Renewal pure price increases averaged 6.5%, down from 9.9% in the prior-year quarter.AXIS Capital Holdings Limited AXS reported second-quarter 2026 operating income of $2.84 per share, which missed the Zacks Consensus Estimate of $3.23 and fell 12.1% year over year. Total operating revenues of $1.7 billion marginally missed the Zacks Consensus Estimate by 1%. The top line rose nearly 7.4% year over year on higher premiums earned.Net premiums written decreased 1.8% to $1.6 billion, reflecting lower premiums in the Reinsurance segment, partially offset by growth in the Insurance segment. AXIS Capital’s underwriting income of $142.9 million decreased 24.5% year over year. The combined ratio deteriorated to 93.1 in the quarter from 88.9 a year ago, reflecting higher catastrophe and weather-related losses. The Zacks Consensus Estimate was pegged at 93.2. Our estimate was 93.8.Cincinnati Financial Corporation CINF reported second-quarter 2026 operating income of $1.43 per share, which missed the Zacks Consensus Estimate by 21.4%. The bottom line declined 27.4% from the year-ago quarter. Total operating revenues for the quarter were $3 billion, reflecting a 6.8% year-over-year increase. The figure, however, missed the Zacks Consensus Estimate by 1.4%.Earned premiums climbed 6.3% year over year to $2.6 billion, driven by higher renewal pricing, increased insured exposures and new business growth. The figure marginally missed the Zacks Consensus Estimate by 1.5%. The combined ratio deteriorated 550 basis points year over year, underperforming the consensus estimate of 97.1. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mercury General Corporation (MCY) : Free Stock Analysis Report Cincinnati Financial Corporation (CINF) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

CNA Financial Corporation CNA reported second-quarter 2026 core earnings of $1.19 per share, which beat the Zacks Consensus Estimate of $1.04 by 14.4%. The bottom line decreased 3.3% year over year.Revenues rose 3% year over year to $3.46 billion and surpassed the consensus estimate of $3.34 billion by 3.6%. Higher investment income and premium growth supported the top line, while the Property & Casualty combined ratio deteriorated. CNA Financial Corporation price-consensus-eps-surprise-chart | CNA Financial Corporation Quote Property & Casualty net written premiums increased 4% year over year to $2.97 billion. Net earned premiums rose 3% to $2.66 billion, aided by 11% new business growth to a record $718 million and a 2% renewal premium change.Retention remained 83%, while the rate change was flat. Management noted that rate increases in casualty lines affected by social inflation and in Specialty offset property declines, workers’ compensation and International. P&C underwriting gain fell 39% year over year to $92 million. The combined ratio worsened 240 basis points to 96.5%, reflecting a 250-basis-point increase in the loss ratio to 66.4%.The underlying combined ratio deteriorated 250 basis points to 94.2%. The underlying loss ratio increased 260 basis points to 64.1%, while the expense ratio improved 10 basis points to 29.7%. Catastrophe losses were $60 million, down from $62 million a year earlier. Specialty net written premiums grew 5% year over year to $937 million, while net earned premiums increased 2% to $878 million. Our estimate for net written premiums was $875.8 million. Its combined ratio deteriorated 290 basis points to 96.5%, as the underlying loss ratio rose across various lines. Commercial net written premiums advanced 5% to $1.64 billion, and net earned premiums rose 3% to $1.44 billion. Our estimate for net written premiums was $1.57 billion. The combined ratio deteriorated 170 basis points to 96.5%. Higher losses in excess casualty and workers’ compensation were partly offset by a 60-basis-point improvement in the expense ratio. International net written premiums declined 2% year over year to $385 million, though net earned premiums increased 4% to $337 million. Excluding currency fluctuations, net written premiums fell 3%. Our estimate for net written premiums was $352.6 million. The segment’s combined ratio deteriorated 410 basis points to 96.9%. The expense ratio increased 200 basis points due to investments in talent and technology and higher acquisition costs, while catastrophe losses rose to $7 million from $5 million. Net investment income increased 6% year over year to $701 million. The increase was driven by higher returns on limited partnerships and common stock, as well as higher income from fixed-income securities, resulting from a larger invested asset base and favorable reinvestment rates. Our estimate for net investment income was $705.2 million. The Zacks Consensus Estimate was pegged at $705 million.Limited partnership and common stock income rose to $131 million from $100 million. Hedge funds and common stocks generated strong returns, while private equity remained a positive contributor. P&C core income nevertheless declined 5% to $426 million as lower underwriting results outweighed stronger investment income. Total claims, benefits and expenses increased 3% year over year to $3.42 billion. Insurance claims and policyholders’ benefits rose to $2.17 billion from $2.09 billion, while amortization of deferred acquisition costs increased to $481 million from $469 million. Our estimate was $3.34 billion.Life & Group posted a core loss of $10 million versus core income of $1 million a year earlier, reflecting lower investment income. Net earned premiums in Life & Group were $103 million, down 2.8% year over year. Our estimate was $102.7 million. Corporate & Other recorded a core loss of $92 million, narrower than $114 million, including a $77 million after-tax legacy mass tort charge. Net income increased 7% year over year to $321 million, or $1.18 per share. Core return on equity declined 50 basis points to 10.5%.Book value per share was $41.34 as of June 30, 2026, declining 3.7% from 2025 end. Book value excluding accumulated other comprehensive income was $45.83, up 4% from year-end after adjusting for $2.96 per share of dividends paid.As of June 30, 2026, statutory capital and surplus stood at $11.2 billion. The board declared a quarterly dividend of 48 cents per share, payable Sept. 3, 2026, to shareholders of record as of Aug. 17. CNA Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Arch Capital Group Ltd. ACGL reported second-quarter 2026 operating income of $2.56 per share, which beat the Zacks Consensus Estimate by 2.8%. The bottom line decreased 0.8% year over year. Revenues of $4.43 billion declined 6.9% year over year and missed the consensus mark by 3.1%. Results reflected lower earned premiums and catastrophe pressure, partly offset by higher net investment income. Gross premiums written declined 1.1% year over year to $6.13 billion. Net premiums written decreased 6.9% to $4.05 billion, reflecting lower volumes in the Insurance and Reinsurance segments. Net premiums earned fell 8.1% to $3.99 billion. Underwriting income fell 19.7% to $657 million. The combined ratio, which measures claims and expenses as a percentage of premiums, deteriorated 230 basis points to 83.5%. Selective Insurance Group, Inc. SIGI reported second-quarter 2026 operating earnings of $1.95 per share, which beat the Zacks Consensus Estimate by 13.4%. The bottom line increased 48.9% year over year. Revenues of $1.37 billion rose 4.5% from the year-ago quarter and topped the consensus estimate by 0.7%. Net premiums written declined 5% year over year to $1.22 billion due to a 6% decrease in Standard Commercial Lines, an 8% fall in Standard Personal Lines, and a 2% decline in Excess and Surplus Lines. Our estimate was $1.33 billion. Net premiums earned increased 2.3%. Direct new business fell to $206.1 million from $248.1 million. Renewal pure price increases averaged 6.5%, down from 9.9% in the prior-year quarter.AXIS Capital Holdings Limited AXS reported second-quarter 2026 operating income of $2.84 per share, which missed the Zacks Consensus Estimate of $3.23 and fell 12.1% year over year. Total operating revenues of $1.7 billion marginally missed the Zacks Consensus Estimate by 1%. The top line rose 7.4% year over year on higher premiums earned.Net premiums written decreased 1.8% to $1.6 billion, reflecting lower premiums in the Reinsurance segment, partially offset by growth in the Insurance segment. Net investment income decreased 3% year over year to $181.6 million, due to lower income from alternative investments and cash. The Zacks Consensus Estimate was pegged at $208.7 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CNA Financial Corporation (CNA) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report Arch Capital Group Ltd. (ACGL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

EverQuote, Inc. EVER reported second-quarter 2026 operating net income per share of 65 cents, significantly exceeding the Zacks Consensus Estimate by 6.6%. The bottom line increased 66.7% from the prior-year period level. Total revenues rose 24.6% year over year to $195 million. The top line exceeded the Zacks Consensus Estimate by 2.6%. The quarterly results benefited from continued strength in the Automotive and Home & Renters insurance verticals, supported by higher variable marketing dollars and record adjusted EBITDA. EverQuote, Inc. price-consensus-eps-surprise-chart | EverQuote, Inc. Quote Revenues in the Automotive insurance vertical grew 23.3% year over year to $172.1 million, surpassing the Zacks Consensus Estimate of $170.4 million. Our estimate was $170.5 million. Revenues in the Home and Renters insurance vertical increased 35.2% year over year to $23 million, exceeding the Zacks Consensus Estimate of $19.4 million. Our estimate was $19 million. Revenues in the Other insurance vertical declined 100% year over year. Total costs and operating expenses rose 20.5% year over year to $171.6 million, mainly due to higher sales and marketing, research and development costs and general and administrative expenses. Our estimate was $164 million. EverQuote’s variable marketing dollars increased 25% year over year to $56.9 million, which beat the Zacks Consensus Estimate of $56.4 million. Adjusted EBITDA rose 37.1% year over year to $30.1 million, which outpaced our estimate of $29.6 million. EverQuote exited the second quarter of 2026 with cash and cash equivalents of $192.3 million, up 12.3% from the 2025-end level. Total assets increased 4.3% from the 2025-end level to $341 million, while total stockholders' equity rose 7.9% from the 2025-end level to $256.8 million. Cash from operations was $24.3 million, compared with $25.3 million in the prior-year quarter. During the second quarter, EVER repurchased 0.578 million shares of its common stock for approximately $9.1 million. For the third quarter of 2026, EverQuote guided revenues in the range of $198-$208 million. Management expects variable marketing dollars in the $56-$59 million range, suggesting 23% year-over-year growth. Adjusted EBITDA is projected in the range of  $28-$31 million EVER currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. MGIC Investment Corporation MTG reported second-quarter 2026 operating net income per share of 87 cents, which beat the Zacks Consensus Estimate by 17.6%. The bottom line also improved 6.1% year over year. Total operating revenues declined 2.6% year over year to $298 million, primarily due to lower net premiums earned and net investment income. The top line missed the Zacks Consensus Estimate by 0.3%. Net premiums earned declined 2.6% year over year to $238.1 million, missing our estimate of $239 million. Meanwhile, net investment income decreased 2.5% year over year to $59.5 million. The figure was in line with our estimate of $59.3 million. AXIS Capital Holdings Limited AXS reported second-quarter 2026 operating income of $2.84 per share, which missed the Zacks Consensus Estimate of $3.23 and fell 12.1% year over year. Total operating revenues of $1.7 billion marginally missed the Zacks Consensus Estimate by 1%. The top line rose nearly 7.4% year over year on higher premiums earned. Net premiums written decreased 1.8% to $1.6 billion, reflecting lower premiums in the Reinsurance segment, partially offset by growth in the Insurance segment. AXIS Capital’s underwriting income of $142.9 million decreased 24.5% year over year. The combined ratio deteriorated to 93.1 in the quarter from 88.9 a year ago, reflecting higher catastrophe and weather-related losses. The Zacks Consensus Estimate was pegged at 93.2. Our estimate was 93.8. NMI Holdings, Inc. NMIH reported second-quarter 2026 adjusted earnings of $1.38 per share, which rose 13.1% year over year. The bottom line beat the Zacks Consensus Estimate of $1.28 by 7.81%. Revenues rose 8.1% year over year to $188 million and surpassed the consensus mark of $185 million by 1.73%. Primary insurance in force increased 5.8% to $227.1 billion. Net premiums earned increased 5.7% year over year to $157.5 million, reflecting continued expansion in the insured portfolio. Our estimate was $157 million. Net investment income climbed 21.6% to $30.3 million, providing another meaningful lift to the top line. Our estimate was $27 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EverQuote, Inc. (EVER) : Free Stock Analysis Report MGIC Investment Corporation (MTG) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report NMI Holdings Inc (NMIH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

NMI Holdings, Inc. NMIH reported second-quarter 2026 adjusted earnings of $1.38 per share, which rose 13.1% year over year. The bottom line beat the Zacks Consensus Estimate of $1.28 by 7.81%.Revenues rose 8.1% year over year to $188 million and surpassed the consensus mark of $185 million by 1.73%. Higher earned premiums, stronger investment income and lower claims supported the results. Primary insurance in force increased 5.8% to $227.1 billion. NMI Holdings Inc price-consensus-eps-surprise-chart | NMI Holdings Inc Quote Net premiums earned increased 5.7% year over year to $157.5 million, reflecting continued expansion in the insured portfolio. Our estimate was $157 million.Net investment income climbed 21.6% to $30.3 million, providing another meaningful lift to the top line. Our estimate was $27 million.The company recorded net realized investment losses of $0.2 million compared with $0.4 million a year earlier. Other revenues were $0.3 million, up from $0.2 million in the prior-year quarter. New insurance written totaled $16.1 billion, up 28.8% year over year. Purchase originations accounted for $14.3 billion, while refinance volume was $1.8 billion. The weighted average credit score on new business improved to 760 from 756.Primary risk in force grew to $60.8 billion (our estimates was $63.3 billion) from $57.5 billion. Policies in force rose to 694,273 (our estimate was 713,246) from 668,638. Annual persistency declined to 81.4% from 84.1%, indicating a somewhat faster pace of policy runoff. Insurance claims and claim expenses decreased 2.2% year over year to $13.1 million. The loss ratio improved 70 basis points to 8.3%, signaling favorable underwriting performance despite a higher default inventory.Underwriting and operating expenses increased 3.3% to $30.5 million. Still, the expense ratio improved 40 basis points to 19.4%, while the combined ratio improved 110 basis points to 27.7% (the Zacks Consensus Estimate was pegged at 31.03). Net income rose 10% year over year to $105.8 million. Income before taxes increased to $136.9 million from $123.6 million, supported by revenue growth and disciplined claims and expense management.Adjusted net income advanced 9.8% to $106 million. Annualized adjusted return on equity was 15.9%, down 40 basis points from the year-ago quarter. Book value per share excluding net unrealized investment gains and losses increased 15% year over year to $36.88. Reported book value per share was $35.89, while total shareholders’ equity was $2.7 billion at quarter-end.Total PMIERs available assets were $3.7 billion compared with $3.2 billion a year earlier. Net risk-based required assets were $2.1 billion, leaving available assets well above the regulatory requirement and supporting further portfolio growth. Loans with credit scores of 760 or higher represented $115 billion of primary insurance in force. Fixed-rate mortgages accounted for 98% of primary risk in force, limiting exposure to adjustable-rate loan resets.The default rate was 1.16%, up from 1% a year ago, and loans in default totaled 8,020. However, the portfolio remained broadly diversified, with the top 10 states accounting for 51.1% of primary risk in force.Management highlighted the company’s customer franchise, insured-book quality, risk-transfer arrangements and balance-sheet strength. These factors underpin its ability to pursue growth while maintaining protection against mortgage credit losses. Cash and cash equivalents totaled $72.1 million as of June 30, 2026, up from $43.9 million at the end of 2025. Total assets increased to $4 billion from $3.8 billion over the same period.Debt was $418 million, nearly unchanged from $417 million at 2025-end. The company also reported $3.3 billion of fixed-maturity investments at fair value. Its reserve for insurance claims and claim expenses was $214.6 million, up from $196.4 million at the end of 2025. NMIH currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. W.R. Berkley Corporation WRB reported second-quarter 2026 operating income of $1.27 per share, which beat the Zacks Consensus Estimate by 16.5%. The bottom line increased 21% year over year. Operating revenues totaled $3.8 billion, up 3.6% year over year. The top line surpassed the consensus estimate by 1.87%.W.R. Berkley’s net premiums written were about $3.4 billion, up 2.4% year over year. The consolidated combined ratio (a measure of underwriting profitability) improved 160 basis points year over year to 90, missing the Zacks Consensus Estimate of 92.AXIS Capital Holdings Limited AXS reported second-quarter 2026 operating income of $2.84 per share, which missed the Zacks Consensus Estimate of $3.23 and fell 12.1% year over year. Total operating revenues of $1.7 billion marginally missed the Zacks Consensus Estimate by 1%. The top line rose nearly 7.4% year over year on higher premiums earned.Net premiums written decreased 1.8% to $1.6 billion, reflecting lower premiums in the Reinsurance segment, partially offset by growth in the Insurance segment. AXIS Capital’s underwriting income of $142.9 million decreased 24.5% year over year. The combined ratio deteriorated to 93.1 in the quarter from 88.9 a year ago, reflecting higher catastrophe and weather-related losses. The Zacks Consensus Estimate was pegged at 93.2. Our estimate was 93.8.Selective Insurance Group, Inc. SIGI reported second-quarter 2026 operating earnings of $1.95 per share, which beat the Zacks Consensus Estimate by 13.4%. The bottom line increased 48.9% year over year. Revenues of $1.37 billion rose 4.5% from the year-ago quarter and topped the consensus estimate by 0.7%. Net premiums written declined 5% year over year to $1.22 billion due to a 6% decrease in Standard Commercial Lines, an 8% fall in Standard Personal Lines, and a 2% decline in Excess and Surplus Lines. Our estimate was $1.33 billion. Net premiums earned increased 2.3%. Direct new business fell to $206.1 million from $248.1 million. Renewal pure price increases averaged 6.5%, down from 9.9% in the prior-year quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NMI Holdings Inc (NMIH) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

AXIS Capital Holdings Limited AXS reported second-quarter 2026 operating income of $2.84 per share, which missed the Zacks Consensus Estimate of $3.23 and fell 12.1% year over year. The quarterly results reflected higher net premiums earned and continued premium growth. However, higher catastrophe losses, lower net investment income and increased operating expenses weighed on performance. Axis Capital Holdings Limited price-consensus-eps-surprise-chart | Axis Capital Holdings Limited Quote Total operating revenues of $1.7 billion marginally missed the Zacks Consensus Estimate by 1%. The top line rose 7.4% year over year on higher premiums earned.Net premiums written decreased 1.8% to $1.6 billion, reflecting lower premiums in the Reinsurance segment, partially offset by growth in the Insurance segment. Net investment income decreased 3% year over year to $181.6 million, due to lower income from alternative investments and cash. The Zacks Consensus Estimate was pegged at $208.7 million. Total expenses in the reported quarter increased 6.2% year over year to $1.4 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 $152 million, including $95 million from natural catastrophes. The remaining $57 million was attributable to weather-related events. AXIS Capital’s underwriting income of $142.9 million decreased 24.5% year over year. The combined ratio deteriorated to 93.1 in the second quarter from 88.9 a year ago, reflecting higher catastrophe and weather-related losses. The Zacks Consensus Estimate was pegged at 93.2. Our estimate was 93.8. Insurance: Gross premiums written improved 15.3% year over year to $2.2 billion. Our estimate was $2.1 billion. Net premiums earned increased 14.9% year over year to $1.2 billion, driven by premium growth across most business lines. Our estimate was $1.1 billion. Underwriting income of $119.4 million decreased 21.3% year over year. The combined ratio deteriorated 470 basis points to 90. The Zacks Consensus Estimate for the combined ratio was pegged at 89.7. Reinsurance: Gross premiums written decreased 24.7% year over year to $439.5 million, mainly due to lower renewals and portfolio optimization compared to our estimate of $554.9 million. Net premiums earned declined 8% year over year to $331.8 million. Our estimate was pinned at $399.5 million. Underwriting income of $23.6 million decreased 37.3% year over year. The combined ratio deteriorated 250 basis points to 94.5. The Zacks Consensus Estimate for the combined ratio was pegged at 94.1. AXIS Capital exited the second quarter with cash and cash equivalents of $780 million, down 4.9% from the 2025-end level. Debt remained essentially unchanged at $1.32 billion. Shareholders' equity increased 2.3% from the 2025-end level to $6.5 billion. Book value per diluted common share was $79.01, up from $78.19 as of Dec. 31, 2025. Annualized operating return on average common equity (operating ROACE) was 14.3%, down from 19% a year ago. AXIS Capital returned $84 million to common shareholders in the second  quarter, including $52 million in share repurchases and $32 million in dividends. The company also declared a quarterly dividend of 44 cents per common share. AXIS Capital currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Selective Insurance Group, Inc. SIGI reported second-quarter 2026 operating earnings of $1.95 per share, which beat the Zacks Consensus Estimate by 13.4%. The bottom line increased 48.9% year over year. Revenues of $1.37 billion rose 4.5% from the year-ago quarter and topped the consensus estimate by 0.7%. Net premiums written declined 5% year over year to $1.22 billion due to a 6% decrease in Standard Commercial Lines, an 8% fall in Standard Personal Lines, a 2% drop in Excess and Surplus Lines. Our estimate was $1.33 billion. Net premiums earned increased 2.3%. Direct new business fell to $206.1 million from $248.1 million. Renewal pure price increases averaged 6.5%, down from 9.9% in the prior-year quarter. Chubb Limited CB reported second-quarter 2026 core operating earnings of $7.26 per share, which beat the Zacks Consensus Estimate of $6.63 by 9.5%. The bottom line increased 18.2% year over year. Revenues rose 2.7% year over year to $15.77 billion but missed the consensus mark of $15.90 billion by 0.8%. Stronger P&C underwriting, record investment income, and higher life insurance income supported results. Net premiums earned increased 5.8% to $13.89 billion. P&C underwriting income increased 18.8% year over year to $1.94 billion. The combined ratio improved 180 basis points to 83.8%, reflecting a lower share of premiums consumed by claims and expenses. Our estimate was $1.15 billion. Principal Financial Group, Inc.’s PFG second-quarter 2026 operating earnings of $2.50 per share beat the Zacks Consensus Estimate by 7.3%. The bottom line increased 16% year over year. Revenues rose 6.4% year over year to $3.99 billion, which missed the consensus mark of $4.09 billion by 2.4%. Total expenses increased 7.6% year over year to $3.41 billion. Benefits, claims and settlement expenses rose 8.3% to $1.99 billion, while operating expenses increased 8.1% to $1.40 billion. Non-GAAP operating earnings climbed 12% to $547 million. Excluding significant variances, operating earnings advanced 13% to $528.7 million, reflecting growth across the operating segments. Net income attributable to PFG declined 1% to $403.4 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report Chubb Limited (CB) : Free Stock Analysis Report Principal Financial Group, Inc. (PFG) : Free Stock Analysis Report Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Axis Capital Holdings Limited? Here are five stocks we like better. AXIS delivered profitable growth: Net income reached $251 million, or $3.38 per diluted share, while gross written premiums rose 6% year over year to $2.7 billion. The insurance segment led results with 15% premium growth and a 90% combined ratio. Management is tightening underwriting as markets soften: Property pricing fell 17%, prompting higher loss picks and increased property treaty cessions, while reinsurance premiums declined 25% as AXIS reduced exposure to casualty and professional lines. Catastrophe losses weighed on results, but capital returns continued: Catastrophe losses totaled $80 million, including severe storms and Middle East conflict-related losses. AXIS returned $122 million to shareholders in the quarter and plans to remain active in share repurchases. A Quiet Outperformer With a Catastrophe Caveat Axis Capital (NYSE:AXS) reported second-quarter results marked by higher insurance premiums, continued profitability in its reinsurance business and an increased focus on underwriting discipline as specialty insurance market conditions soften. Net income available to common shareholders was $251 million, or $3.38 per diluted share, producing an annualized return on equity of 17%, Chief Financial Officer Matt Kirk said during the company’s second-quarter 2026 earnings call. Operating income totaled $211 million, or $2.84 per diluted share, for an annualized operating return on equity of 14%. → This Tiny AI Supplier Could Be More Important Than the Chipmakers President and Chief Executive Officer Vince Tizzio said the company delivered a 93% combined ratio and an 89% current accident-year combined ratio excluding catastrophe losses. Gross written premiums rose 6% year over year to $2.7 billion, with growth concentrated in specialty short-tail insurance lines. Insurance segment gross written premiums increased 15% to $2.2 billion, while underwriting income reached $119 million. The insurance segment recorded a 90% combined ratio and an 84.5% current accident-year combined ratio excluding catastrophe losses. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Tizzio said core insurance business contributed roughly 2 percentage points of insurance premium growth, while AXIS Capacity Solutions, or ACS, contributed about 8 points and expanded classes added about 5 points. ACS matches AXIS underwriting capabilities with third-party capital, allowing the company to write larger gross lines while retaining its desired net exposure. Fee income from ACS was nearly $4 million in the quarter, and the company expects approximately $17 million for the full year. In North America, 68% of insurance premiums came through wholesale distribution channels, while retail represented nearly 19% and delegated business accounted for about 13%. Delegated premiums were flat year over year, although Tizzio said the company’s delegated portfolio increased 5% companywide, driven largely by previously announced partners in pet and surety business. → Innovative ETF Strategies That Are Paying Off This Summer Property gross premiums increased 21%, supported substantially by ACS. However, net property premiums declined 15% as AXIS increased property treaty cessions. The company raised property cessions at midyear renewals to 37% from 30%, while maintaining its $100 million catastrophe excess-of-loss attachment. Property rates declined 17% during the quarter, including a 22% decline in excess-and-surplus property pricing, according to Kirk. He said the faster-than-expected softening prompted AXIS to adopt more conservative loss picks. Liability premiums rose 8%, primarily reflecting a 7% rate increase. U.S. excess casualty premiums declined 4% despite an 8% rate change, while the company’s lower-middle-market excess casualty unit grew 22%. Primary casualty premiums declined 8% year to date, with a 9% rate increase. Professional lines grew 16%, supported by errors-and-omissions business and expanded classes, while cyber premiums declined 5% amid a 7% rate reduction. The company’s underlying insurance loss ratio was 54%, up 1.7 percentage points from the prior-year quarter. Kirk said AXIS had previously anticipated about a one-point year-over-year increase tied to business mix and loss trends, but updated its view as market pricing weakened more rapidly than expected. “This is not from trend,” Kirk said in response to an analyst question, adding that the change reflected a combination of property and casualty considerations. He said the company remains cautious in casualty because rate increases are not at levels AXIS believes are needed. Tizzio said AXIS is selectively pursuing opportunities in casualty rather than broadly expanding its exposure. The company did not grow its larger excess casualty franchise during the quarter, but it continued to find acceptable pricing in lower-middle-market business and selected ACS-related opportunities. AXIS recorded a $15 million net reserve release in the quarter, including $12 million in insurance and $3 million in reinsurance. Kirk said releases came from short-tail lines, with about half of the first-half releases tied to 2023 property business and the remainder spread across more recent years. Reinsurance gross written premiums fell 25% to $440 million in the quarter, reflecting AXIS’ decision to reduce writings in casualty and professional lines. The reinsurance segment generated its 10th consecutive profitable quarter and posted a 94.5% combined ratio. More than half of reinsurance production, or 51%, came from specialty short-tail lines, while 94% of $90 million in new business came from short-tail classes. Tizzio said professional lines accounted for 58% of the premium reduction and liability accounted for 42%. For the first half, reinsurance premiums were down 10%, which Kirk said is broadly consistent with the company’s expectation for the full year. AXIS cited continued pressure in accident-and-health employer stop-loss business, where the company is seeing heightened competition. Tizzio said the company expects to remain highly selective in long-tail reinsurance lines because of what it views as unfavorable ceding commissions and uncertainty around loss development costs. Catastrophe losses totaled $80 million, or 5.3 points on the combined ratio. Severe convective storms in the U.S. accounted for $49 million, while the remainder related to the Middle East conflict. AXIS reported $31 million of losses associated with the Iran conflict, primarily in terrorism and marine war coverage. Tizzio said the company believes industry losses from the conflict range from $2.5 billion to $3 billion. Kirk said the situation remains fluid, but losses currently appear modestly below AXIS’ market share. The company also said it is receiving additional premium from marine war policies, which can be written on short durations and priced dynamically during the conflict. Investment income was $182 million, compared with $187 million a year earlier. Fixed-maturity investment income increased 9%, supported by stronger cash flow and a higher book yield, while alternative-investment returns were modest but within expectations. AXIS returned $122 million to shareholders during the quarter, including $33 million in dividends and $89 million in share repurchases. The company had $263 million remaining under its repurchase authorization at quarter-end and expects to remain active in buybacks during the second half of the year. Kirk said AXIS is targeting a full-year general and administrative expense ratio of approximately 11%, compared with 10.9% in the second quarter. He added that the company would continue to invest in talent, technology and other opportunities that it believes can support long-term shareholder value. AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Axis Capital Q2 Earnings Call Highlights" was originally published by MarketBeat. 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