TRV

Earnings results often indicate what direction a company will take in the months ahead. With Q1 behind us, let’s have a look at Travelers (NYSE:TRV) and its peers. Property & Casualty (P&C) insurers protect individuals and businesses against financial loss from damage to property or from legal liability. 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. On the other hand, P&C insurers face a major secular headwind from the increasing frequency and severity of catastrophe losses due to climate change. Furthermore, the liability side of the business is pressured by 'social inflation'—the trend of rising litigation costs and larger jury awards. The 32 property & casualty insurance stocks we track reported a mixed Q1. As a group, revenues beat analysts’ consensus estimates by 1.9%. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Tracing its roots back to 1853 when it insured travelers against accidents on steamboats and railroads, Travelers (NYSE:TRV) provides a wide range of commercial and personal property and casualty insurance products to businesses, government units, associations, and individuals. Travelers reported revenues of $11.88 billion, flat year on year. This print fell short of analysts’ expectations by 3.6%. Overall, it was a softer quarter for the company with a significant miss of analysts’ revenue and net premiums earned estimates. The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $298.42. Is now the time to buy Travelers? Access our full analysis of the earnings results here, it’s free. Founded in 1893 during America's westward expansion when property records were often disputed, Stewart Information Services (NYSE:STC) provides title insurance and real estate services, helping homebuyers, sellers, and lenders verify property ownership and protect against title defects. Stewart Information Services reported revenues of $781.3 million, up 27.7% year on year, outperforming analysts’ expectations by 4.6%....

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 STARWOOD PROPERTY TRUST, INC. (STWD) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

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. 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-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. 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 Con...

MGIC Investment Corporation MTG reported first-quarter 2026 operating net income per share of 76 cents, which beat the Zacks Consensus Estimate by 4.1%. The bottom line also improved 1.3% year over year. Total operating revenues declined 3% year over year to $297 million, attributable to lower net premiums earned and other revenues. The top line missed the Zacks Consensus Estimate by 1.4%. The quarterly results reflected stable investment income, partially offset by lower net premiums earned and other revenues. MGIC Investment Corporation price-consensus-eps-surprise-chart | MGIC Investment Corporation Quote Insurance in force increased 3% year over year to $302.7 billion, exceeding the Zacks Consensus Estimate of $293.7 billion as well as our estimate of $295.6 billion. Meanwhile, primary delinquency rose 6.2% to 27,006 loans during the quarter. Net premiums earned declined 3.4% year over year to $235.4 million, surpassing our estimate of $234.3 million. Meanwhile, net investment income increased 0.5% year over year to $61.7 million, but came in below our estimate of $61.8 million and the Zacks Consensus Estimate of $62.4 million. Persistency, the percentage of insurance remaining in force, was 84% as of March 31, 2026, and declined 70 basis points from the year-ago quarter’s level. Meanwhile, new insurance written increased 41.5% year over year to $14.4 billion. Underwriting and other expenses, net, declined 9.4% year over year to $48.1 million. However, underwriting performance weakened materially, with the loss ratio surging to 14.1% from 3.9% in the prior-year quarter. Total losses and expenses increased 26.1% year over year to $90.2 million, attributable to a sharp rise in losses incurred, net, which nearly doubled from the year-ago period. Book value per share, a measure of net worth, increased 10.4% year over year to $23.63 as of March 31, 2026. Shareholder equity was $5.3 billion as of March 31, 2026, down 2.1% from the 2025-end level. MGIC Investment's PMIERs Available Assets totaled $5.8 billion, or $2.9 billion above its Minimum Required Assets as of March 31, 2026. Total assets were $6.4 billion as of March 31, 2026, down 4.4% from the 2025-end level. Senior notes totaled $646.5 million as of March 31, 2026, reflecting a 0.1% increase from the 2025-end level. The company repurchased 7.2 million shares of common stock for $192.6 million and paid...

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-eps-surprise-chart | The Allstate Corporation Quote 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. 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. Allstate exited the first quarter with a cash balan...

Cincinnati Financial Corporation's CINF reported first-quarter 2026 operating income of $2.10 per share, which surpassed the Zacks Consensus Estimate by 8.8%. The bottom line improved significantly from a loss of 24 cents per share in the year-ago quarter. Total operating revenues for the quarter were $2.9 billion, reflecting a 12% year-over-year increase. The figure, however, missed the Zacks Consensus Estimate by 0.7%. Quarterly results benefited from strong premium growth, improved pricing, and higher net investment income, alongside a sharp reduction in losses and related expenses. Cincinnati Financial Corporation price-consensus-eps-surprise-chart | Cincinnati Financial Corporation Quote Earned premiums climbed 11% year over year to $2.6 billion, driven by premium growth initiatives, price increases and higher insured exposures. The figure marginally missed the Zacks Consensus Estimate by 0.7%. Net investment income, net of expenses, increased 14% year over year to $318 million, primarily due to a 12% rise in interest income from fixed-maturity securities and a 13% jump in equity portfolio dividends. The figure marginally beat the Zacks Consensus Estimate by 3.6% Total benefits and expenses declined 6% year over year to $2.4 billion, mainly due to a 12% decrease in loss and loss expense. In its property and casualty insurance business, CINF reported underwriting income of $115 million, which improved significantly from a loss of $298 million. The figure was below the Zacks Consensus Estimates of $129.7 million. The combined ratio, a key measure of underwriting profitability, improved 1770 basis points year over year to 95.6, outperforming the consensus estimate of 96.3. Commercial Lines Insurance: Total revenues of $1.2 billion increased 5% year over year, missing the Zacks Consensus Estimate by 1.2%. The upside was primarily driven by a 5% rise in earned premiums. Underwriting income was $18 million, down 81% year over year. The combined ratio improved 670 basis points year over year to 98.6%. The Zacks Consensus Estimate was 96.3%. Personal Lines Insurance: Total revenues of $875 million increased 25% year over year, driven by an 25% rise in earned premiums. The Zacks Consensus Estimate was $856 million. Underwriting profit increased significantly year over year to $30 million from a loss of $357 million, surpassing the Zacks Consensus Estimate of $28...

Brown & Brown, Inc.’s BRO first-quarter 2026 adjusted earnings of $1.39 per share beat the Zacks Consensus Estimate by 2.2%. The bottom line increased 7.8% year over year. The quarterly results were supported by higher commissions and fees, improved investment income and higher adjusted EBITDAC, though partially offset by elevated expenses and flat organic growth. Total revenues of $1.9 billion beat the Zacks Consensus Estimate by 1.4%. The top line improved 35.4% year over year. The upside can be primarily attributed to commission and fees, which grew 35.7% year over year to $1.8 billion. The figure beat the Zacks Consensus Estimate for commission and fees by 1%. Improved investment and other income added to the top line. Brown & Brown, Inc. price-consensus-eps-surprise-chart | Brown & Brown, Inc. Quote Organic revenues remained flat year over year at $1.3 billion. Investment income and other income increased 10.5% year over year to $21 million. Adjusted EBITDAC was $731 million, up 36.6% year over year. The EBITDAC margin improved 40 basis points year over year to 38.5%. Total expenses increased 40% to $1.36 billion due to a rise in employee compensation and benefits, other operating expenses, amortization, depreciation and interest. Brown & Brown exited the first quarter with cash and cash equivalents of $1 billion, which decreased 7% from the 2025-end level. Long-term debt was $6.5 billion as of March 31, 2026, down 4.5% from the 2025-end level. Net cash provided by operating activities was $262 million, up 23% year over year. The board of directors approved a regular quarterly cash dividend of 16.5 cents per share to be paid out on May 20, 2026, to shareholders of record as of May 11, 2026. BRO currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 at $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 increase...

Principal Financial Group, Inc.’s PFG first-quarter 2026 operating net income of $2.07 per share beat the Zacks Consensus Estimate by 2.9%. The bottom line increased 14% year over year. Total revenues decreased 4.5% year over year to $3.5 billion, missing the Zacks Consensus Estimate by 14.5% Principal Financial witnessed operating earnings rising on strong fee income, assets under management ("AUM") growth and improved underwriting across segments. Despite a modest decline in total revenues, lower expenses and margin expansion led to a significant increase in the bottom line. Total expenses decreased 8.2% year over year to $3 billion due to lower benefits, claims and settlement expenses as well as operating expenses. Principal Financial Group, Inc. price-consensus-eps-surprise-chart | Principal Financial Group, Inc. Quote As of March 31, 2026, Principal Financial’s AUM were $770.2 billion, included within assets under administration of $1.8 trillion. Retirement and Income Solution: Revenues increased 4% year over year to $750 million due to higher premiums and other considerations, fees and other revenues, and net investment income. Pre-Tax operating earnings increased 6% year over year to $302.1 million, primarily due to higher net revenues and disciplined expense management. Investment Management: Revenues of $426 million were up 2% from the prior-year quarter due to higher fees and other revenues and net investment income. Pre-Tax operating earnings increased 8% year over year to $125.1 million, primarily due to higher operating revenues less pass-through expenses. The operating margin has increased 100 bps year over year to 30%. International Pension: Revenues increased 15% year over year to $169.3 million, owing to lower premiums and other considerations, fees and other revenues, and net investment income. Pre-Tax operating earnings of $83.4 million increased 17% year over year, driven by higher net revenues and disciplined expense management. Specialty Benefits: Premiums and fees increased 4% year over year to $861.4 million, owing to higher premiums and other considerations as well as net investment income. Pre-tax operating earnings of $136.8 million increased 29% year over year, primarily due to more favorable underwriting. Life Insurance: Revenues increased 1% year over year to $238.6 million, owing to higher premiums and other considerations, fee...

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. The company’s quarterly performance reflects significantly higher catastrophe losses and weaker underwriting, partially offset by strong investment income tailwinds. 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. However, the top line misses the Zacks Consensus Estimate by 0.5%. Selective Insurance Group, Inc. price-consensus-eps-surprise-chart | Selective Insurance Group, Inc. Quote On a year-over-year basis, net premiums written ("NPW") decreased 1% to $1.3 billion, due to a decline in standard personal lines and standard commercial lines. The figure was on par with our estimate. After-tax net investment income increased 18% year over year to $113 million. Underwriting income of $17 million declined 53% year over year, caused by higher catastrophe losses and an increased loss ratio. The combined ratio deteriorated 220 basis points year over year to 98.3. The Zacks Consensus Estimate was 98.3, while our estimate was 98.1 Total expenses rose 7% year over year to $1.2 billion, mainly due to loss expenses incurred, corporate expenses and other expenses. The figure was on par with our estimate. Standard Commercial Lines’ NPW was down 1% year over year to $992.4 million, due to lower new business. This was below our estimate of $908.4 million. The combined ratio was 100.2, deteriorating by 380 basis points year over year. The Zacks Consensus Estimate was 99, while our estimate was 98.1. Standard Personal Lines’ NPW declined 6% year over year to $82.5 million, reflecting reduced new business volume, while underwriting performance improved meaningfully. The average renewal price rose 10.1%, and retention was 78%. The figure was below our estimate of $89.6 million. The combined ratio was 92.8, improved significantly by 520 basis points. The Zacks Consensus Estimate was pegged at 101, while our estimate was 106.5. Excess & Surplus Lines’ NPW rose 1% year over year to $150.7 million, driven by average renewal pure price increases of 4.1%. Our estimate was $174 million. The combined ratio was 89.5, improving 300 basis points year over year. The Zacks Consensus Estimate...

First American Financial Corporation FAF reported first-quarter 2026 operating earnings of $1.33 per share, which beat the Zacks Consensus Estimate by 25.4% and rose 58.3% year over year. Operating revenues climbed 16.2% to $1.8 billion, driven by growth in direct premiums, escrow fees, and Information and other revenues. The top line surpassed the consensus estimate by 1.08%. The quarterly results were supported by robust growth in its Title segment, particularly commercial business, alongside increased average revenue per order and higher investment income. These gains were partly offset by elevated operating expenses. Direct premiums and escrow fees reached $660.2 million, marking a 17.7% increase from the prior-year level. The figure exceeded the Zacks Consensus Estimate by 17.7% and our model estimate by 17.7%. First American Financial Corporation price-consensus-eps-surprise-chart | First American Financial Corporation Quote Investment income totaled $152.4 million in the first quarter, up 13% year over year, driven by a 12% increase in Title segment investment income, partially offset by losses at the corporate level. The figure was below our estimate and the Zacks Consensus Estimate of $155.2 million. Expenses increased 12.8% to $1.6 billion, caused by higher interest expense, agent premiums, personal costs and other operating expenses. The figure was on par with our estimate of $1.6 billion. Title Insurance and Services: Total revenues rose 16.7% year over year to $1.7 billion, which beat the Zacks Consensus Estimate by 1.2%. This was driven by 21% growth in direct premiums and escrow fees, and agent premiums along with steady net investment income. Investment income increased 12% to $154 million, supported by higher interest income from the company's investment portfolio and warehouse lending business Adjusted pretax margin expanded 250 bps to 10%. Title open orders grew 8..2% to 182,900, closed orders rose 9%, and average revenue per direct title order increased to $4,229, reflecting a 48% jump in commercial order revenues. This was partly offset by a mix shift toward lower-premium refinance . Home Warranty: Total revenues rose 2% to $110.3 million, missing our model estimate of $111.2 million. Pretax income climbed 4% year over year to $26 million. The claim loss rate improved to 36%, driven by small reductions in the number and severity of claim...

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. The quarterly results reflect underwriting strain from catastrophe losses, though investment income and casualty growth offer resilience. 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 beat the Zacks Consensus Estimate by 1%. RLI Corp. price-consensus-eps-surprise-chart | RLI Corp. Quote Gross premiums written (GPW) 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. Net investment income increased 15.2% year over year to $42.3 million. The Zacks Consensus Estimate was $40.2 million, while our estimate for the metric was pegged at $38.3 million. The investment portfolio’s total return was -0.4% in the quarter. Total expenses increased 8% year over year to $385.7 million, primarily due to higher loss and settlement expenses and interest expense on debt. Our estimate was $349.4 million. Underwriting income fell 18% year over year to $57.8 million. Our estimate was $71.4 million. The combined ratio deteriorated 370 basis points (bps) year over year to 86, reflecting higher catastrophe losses. Our estimate was 82. Casualty lines’ GPW rose 10.3% year over year to $307.0 million. The figure was below our estimate of $300.9 million. The underwriting income increased significantly to $7.3 million from $2.1 million, up 249% year over year, supported by strong premium growth. The combined ratio improved 200 bps year over year to 97.1%. The figure was below our estimate of 99%. Property lines’ GPW fell 9.0% year over year to $154.8 million. The figure was below our estimate of $180.1 million. The underwriting income declined to $48.2 million, down 15.3% primarily due to catastrophe losses and lower premium volumes. The combined ratio deteriorated 480 bps year over year to 61.9%. Our estimate was 55%. Surety lines’ GPW remained largely flat at $42.1 million. The figure was on par with our estimate. The underwriting income dropped sharply to $2.3 million from $11.6 million, reflecting weaker reserve development and higher expenses. The combined ratio worsened significantly to 93....

Globe Life Inc. GL reported first-quarter 2026 net operating income of $3.43 per share, which missed the Zacks Consensus Estimate by 0.9%. The bottom line, however, improved 11.7% year over year, driven by higher insurance underwriting income. While higher premiums, stronger underwriting income, and increased investment income supported results, these gains were offset by elevated expenses, resulting in an earnings miss. Globe Life Inc. price-consensus-eps-surprise-chart | Globe Life Inc. Quote Globe Life reported total premium revenues of $1.3 billion, up 6% year over year. This upside was primarily driven by higher premiums from Life and Health insurance. Net investment income increased 3.3% year over year to $289.8 million. The company reported operating revenues of $1.56 billion, up 5.3% from the year-ago quarter’s level. The improvement was driven by growth in Life and Health insurance premiums and improved net investment income. The top line missed the Zacks Consensus Estimate by 0.4% Excess investment income, a measure of profitability, increased 2.2% year over year to $36.7 million. Total insurance underwriting income increased 5% year over year to $352.4 million. The increase can be attributed to higher Health underwriting income. Administrative expenses were up 7.7% year over year to $94.3 million. Total benefits and expenses increased 5.3% year over year to $1.2 billion, primarily due to higher total policyholder benefits, amortization of deferred acquisition costs, commissions, premium taxes, and non-deferred acquisition costs, and other operating expense. Premium revenues at Life increased 3% year over year to $853.2 million, driven by higher premiums written by distribution channels like American Income and Liberty National. American Income and Liberty National rose 5% and 4%, respectively. Net sales of $157.4 million increased 6% year over year. Underwriting margins increased 3% to $349.1 million. Health insurance premium revenues rose 13% year over year to $416.9 million, primarily driven by higher premiums from United American, Family Heritage and Direct to Consumer. Net health sales increased 58% to $106.2 million. Underwriting margins increased 12% to $94.5 million. Shareholders’ equity, excluding accumulated other comprehensive income (AOCI), as of March 31, 2026, increased 5.3% year over year to $7.8 billion. As of March 31, 2026, Globe...