WRB

As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the property & casualty insurance industry, including W. R. Berkley (NYSE:WRB) 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 satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 2.3% while next quarter’s revenue guidance was 0.9% above. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Founded in 1967 and operating through more than 50 specialized insurance units across the globe, W. R. Berkley (NYSE:WRB) underwrites commercial insurance and reinsurance through specialized subsidiaries serving industries from healthcare to construction to transportation. W. R. Berkley reported revenues of $3.72 billion, up 1.2% year on year. This print fell short of analysts’ expectations by 1.4%. Overall, it was a mixed quarter for the company with a beat of analysts’ EPS estimates but a significant miss of analysts’ book value per share estimates. The market seems disappointed with the results as the stock is down 3.6% since reporting and currently trades at $70.09. Is now the time to buy W. R. Berkley? Access our full analysis of the earnings results here, it’s free. Serving as a crucial bridge between homebuyers and the American dream of homeownership, Essent Group (NYSE:ESNT) provides private mortgage insurance and title services that enable lenders to offer home loans with down payments of less than 20%. Essent Group reported revenues of $362.7 million, up 13.6% year on year, outperforming analysts’ expectations by 9.7%. The business had a stunning quarter with a beat of analysts’ EPS estimates. The market seems content with the results as the stock is up 4.5% since reporting. It currently trades at $68.47. Is now the time to buy Essent Group? Access our full analysis of the earnings results here, it’s free. Founded during the housing boom of 1977 and weathering multiple real estate cycles since, Radian Group (NYSE:RDN) provides mortgage insurance and real estate services, helping lenders manage risk and homebuyers achieve affordable homeownership. Radian Group reported revenues of $580.7 million, up 90.8% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ EPS estimates. As expected, the stock is down 6.3% since the results and currently trades at $36.71. Read our full analysis of Radian Group’s results here. Founded in 2013 to fill gaps in catastrophe insurance markets, Palomar Holdings (NASDAQ:PLMR) is a specialty insurance provider that offers property and casualty insurance products in underserved markets, with a focus on earthquake coverage. Palomar Holdings reported revenues of $314.4 million, up 54.7% year on year. This print topped analysts’ expectations by 5%. Aside from that, it was a satisfactory quarter as it also produced an impressive beat of analysts’ net premiums earned estimates but a miss of analysts’ book value per share estimates. The stock is down 2.3% since reporting and currently trades at $133.02. Read our full, actionable report on Palomar Holdings here, it’s free. Founded in 1961 and maintaining a network of over 6,300 independent agents across the country, Mercury General (NYSE:MCY) is an insurance company that primarily sells automobile insurance policies through independent agents in 11 states, with a strong focus on California. Mercury General reported revenues of $1.68 billion, up 13.8% year on year. This result beat analysts’ expectations by 10.3%. Overall, it was an exceptional quarter as it also recorded a beat of analysts’ EPS estimates. The stock is flat since reporting and currently trades at $106.25. Read our full, actionable report on Mercury General here, it’s free. 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A month has gone by since the last earnings report for W.R. Berkley (WRB). Shares have lost about 2.8% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is W.R. Berkley 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 W.R. Berkley Corporation before we dive into how investors and analysts have reacted as of late. WRB Q2 Earnings Beat Estimates on Higher Premiums, Investment IncomeW.R. Berkley Corporation 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.The insurer benefited from higher premiums, strong investment income growth and lower catastrophe losses.Behind the HeadlinesW.R. Berkley’s net premiums written were about $3.4 billion, up 2.4% year over year. The figure surpassed our estimate of $3.4 billion.Operating revenues totalled $ 3.8 billion, up 3.6% year over year, driven by higher net premiums earned, improved net investment income, and higher revenues from non-insurance businesses. The top line surpassed the consensus estimate by 1.87%.Net investment income grew 10.4% to $418.7 million, supported by higher invested assets and higher portfolio yields. The figure topped our estimate of $407 million. The consensus estimate was $395.6 million.Total expenses declined 0.3% to $3.1 billion, reflecting lower other operating costs and interest expense, partly offset by higher loss and loss expenses. The figure was lower than our estimate of $3.20 billion.The loss ratio improved 160 basis points (bps) to 61.5, while the expense ratio remained flat year over year at 28.5.Catastrophe losses of $62.4 million were lower than the $99.2 million incurred in the year-ago quarter. The consolidated combined ratio improved 160 basis points year over year to 90, lower than the Zacks Consensus Estimate of 92.Q2 Segment DetailsNet premiums written at the Insurance segment increased 3.7% year over year to $3.12 billion in the quarter, primarily driven by higher premiums from other liability, short-tail lines, auto and professional liability. The figure was slightly higher than our estimate.The combined ratio deteriorated 70 basis points year over year to 91.4. Our estimate was 94.1.Net premiums written in the Reinsurance & Monoline Excess segment decreased 9.3% year over year to $306.3 million. The figure missed our estimate of $393.8 million.The combined ratio improved 810 bps to 79.3, which was lower than the Zacks Consensus Estimate. Our estimate for the metric was 86.1.WRB's Financial UpdateW.R. Berkley exited the second quarter of 2026 with total assets worth $45.7 billion compared with $43.9 billion at the 2025-end level.Senior notes and other debt increased 0.01% from the 2025-end levels to $1.83 billion.Book value per share increased 3% from 2025-end levels to $26.50.Cash flow from operations was $800 million, up 13.7% year over year.Operating return on equity in the second quarter increased 50 basis points year over year to 20.5%.Capital DeploymentTotal capital returned to shareholders was $334.1 million, consisting of $111.5 million in share repurchases, $37.1 million in regular dividends and $185.5 million in special dividends. In the past month, investors have witnessed a upward trend in estimates revision. At this time, W.R. Berkley has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the top 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, W.R. Berkley has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. W.R. Berkley is part of the Zacks Insurance - Property and Casualty industry. Over the past month, Progressive (PGR), a stock from the same industry, has gained 0.7%. The company reported its results for the quarter ended June 2026 more than a month ago. Progressive reported revenues of $23.01 billion in the last reported quarter, representing a year-over-year change of +6.4%. EPS of $4.85 for the same period compares with $4.88 a year ago. Progressive is expected to post earnings of $3.62 per share for the current quarter, representing a year-over-year change of -10.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.5%. Progressive has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C. 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 The Progressive Corporation (PGR) : 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

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

The Hanover Insurance Group, Inc. THG reported second-quarter 2026 operating earnings of $5.31 per share, up 22.1% year over year. The figure beat the Zacks Consensus Estimate of $3.88 by 36.9%.Total revenues increased 4.6% year over year to $1.72 billion but missed the consensus mark of $1.73 billion by 0.4%. Results benefited from stronger Personal Lines underwriting, lower catastrophe losses and higher net investment income. The consolidated combined ratio improved to 91.2%. The consolidated loss and loss adjustment expense ratio improved 1.7 percentage points year over year to 60.2%. Catastrophe losses totaled $91.8 million, contributing 5.7 points to the combined ratio, compared with a catastrophe ratio of 7% in the prior-year quarter.The combined ratio excluding catastrophes remained unchanged at 85.5%. The current accident year loss and LAE ratio excluding catastrophes improved 30 basis points to 55.8%, while favorable prior-year reserve development contributed 1.3 points. Net premiums earned increased to $1.60 billion from $1.55 billion. The Hanover Insurance Group, Inc. price-consensus-eps-surprise-chart | The Hanover Insurance Group, Inc. Quote Core Commercial net premiums written rose 7.2% year over year to $574.8 million. Growth accelerated from the first quarter, supported by increases of 6% in small commercial and 9.4% in the middle market. Renewal price increases averaged 7.8%, including rate increases of 7%.Segment profitability weakened despite the faster premium growth. Operating income before taxes declined to $77.5 million from $83.9 million, while the combined ratio increased to 95.7% from 93%. The current accident year combined ratio excluding catastrophes deteriorated 1.8 points to 91.2%, reflecting higher liability loss selections and a difficult comparison with unusually low property losses a year earlier. Specialty net premiums written increased 4.4% to $384.4 million, reflecting improved growth momentum from the first quarter. Renewal pricing rose 3.6%, including average rate increases of 2.1%.Operating income before taxes declined to $68.4 million from $71.2 million. The combined ratio increased to 88.3% from 86.5%, as the current accident year loss and LAE ratio, excluding catastrophes, rose 2.6 points to 51.6%. Lower catastrophe losses provided some support, falling to $10 million from $14.6 million. Personal Lines net premiums written increased 2.6% year over year to $697.6 million. Growth reflected higher new business and continued renewal pricing, with renewal price increases averaging 8.7% and rate increases averaging 4.8%. Policies in force were essentially unchanged sequentially.Operating income before taxes surged to $104.9 million from $57.4 million. The combined ratio improved 6.6 points to 88.9%, aided by lower catastrophe losses and better underlying loss experience. The current accident year combined ratio, excluding catastrophes, improved to 81.9% from 84.8%, as earned pricing exceeded loss trends and property claim frequency remained favorable. Net investment income increased 13.4% year over year to $119.6 million, driven by operating cash flows and higher earned yields. The portfolio’s pretax earned yield increased to 4.28% from 4.11%, while the fixed-maturity yield improved to 4.45% from 4.24%.The Hanover ended June with $11.2 billion in cash and invested assets. Book value per share increased 3.5% from March 31, 2026, to $105.40. During the quarter, THG repurchased about 0.3 million shares for approximately $55 million. Through July 24, repurchases totaled roughly 0.8 million shares for $149 million, leaving about $660 million under the company’s authorization. THG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Progressive Corporation’s PGR second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year. Net premiums written were $21.1 billion in the quarter, up 5% from $20.1 billion a year ago. Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate. Net realized gains on securities were $604 million, up 56% year over year. Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 110 basis points from the prior-year quarter’s level to 87.1.The Travelers Companies, Inc. TRV reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%.Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio.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. 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 The Hanover Insurance Group, Inc. (THG) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report The Progressive Corporation (PGR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

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 second quarter were $3 billion, reflecting a 6.8% year-over-year increase. The figure, however, missed the Zacks Consensus Estimate by 1.4%. Quarterly results benefited from strong premium growth, improved pricing, and higher net investment income. However, weaker underwriting performance, driven by higher catastrophe losses, weighed on results. Cincinnati Financial Corporation price-consensus-eps-surprise-chart | Cincinnati Financial Corporation Quote 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%. Net investment income, net of expenses, increased 12% year over year to $319 million, primarily due to a 14% rise in interest income from fixed-maturity securities and a 3% jump in equity portfolio dividends. The figure marginally beat the Zacks Consensus Estimate by 1.8% Total benefits and expenses increased 12.8% year over year to $2.7 billion, mainly due to higher insurance losses and underwriting, acquisition and insurance expenses. In its property and casualty insurance business, CINF reported an underwriting loss of $18 million, compared to an underwriting profit of $128 million in the year-ago quarter, reflecting higher catastrophe losses.  The Zacks Consensus Estimates was $62.6 million. The combined ratio, a key measure of underwriting profitability, deteriorated 590 basis points year over year to 100.8%, underperforming the consensus estimate of 97.1. Commercial Lines Insurance: Total revenues of $1.25 billion increased 3% year over year, driven by a 3% increase in earned premiums and higher investment income. Underwriting recorded a loss of $49 million, against a profit of $87 million in the prior-year quarter. The combined ratio deteriorated 1,120 basis points year over year to 104.1%. The Zacks Consensus Estimate was 99.8%. Personal Lines Insurance: Total revenues of $881 million increased 9% year over year, driven by a 9% rise in earned premiums. The Zacks Consensus Estimate was $889 million. Underwriting profit increased significantly year over year to $1 million from a loss of $14 million, missing the Zacks Consensus Estimate of $6 million. The combined ratio deteriorated 210 basis points year over year to 99.9%.  The Zacks Consensus Estimate was 98.1. Excess and Surplus Lines Insurance: Total revenues of $190 million grew 9% year over year, aided by a 9% increase in earned premiums. The Zacks Consensus Estimate was $185 million. Underwriting profit increased 19% year over year to $19 million, significantly surpassing the Zacks Consensus Estimate of $14.5 million. The combined ratio improved 60 basis points year over year to 90.5%. The Zacks Consensus Estimate was 92.4%. Life Insurance: Total revenues were $142 million, up 9% year over year, driven by 5% higher earned premiums and 10% higher investment income, net of expenses. The Zacks Consensus Estimate was $140.3 million. Total benefits and expenses increased 7% year over year to $104 million. As of June 30, 2026, Cincinnati Financial reported total assets of $43.2 billion, up 5.4% from the 2025-end level. Long-term debt was $791 million, remaining nearly flat from the 2025-end level. The company's debt-to-total-capital ratio improved to 4.6% from 4.9% at 2025-end. As of June 30, 2026, CINF’s book value per share increased 6.1% from the 2025-end level to $108.64. Cincinnati Financial 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 plunged 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. The combined ratio improved 220 basis points to 98. 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. W.R. Berkley’s net premiums written were $3.4 billion, up 2.4% year over year. The figure surpassed our estimate of $3.4 billion. Operating revenues totaled $ 3.8 billion, up 3.6% year over year. The top line surpassed the consensus estimate by 1.87%. Net investment income grew 10.4% to $418.7 million, supported by higher invested assets and higher portfolio yields. The figure topped our estimate of $407 million. The consensus estimate was $395.6 million. RLI Corp. RLI reported second-quarter 2026 operating earnings of 83 cents per share, which beat the Zacks Consensus Estimate by 16.9%. The bottom line increased 1.2% from the prior-year quarter. Operating revenues for the reported quarter were $463 million, up 4.9% year over year, driven by higher net premiums earned and net investment income. The top line beat the Zacks Consensus Estimate by 1.6%. Gross premiums written increased 3.1% year over year to $579.7 million, driven by strong growth in the casualty segment. Net investment income increased 16.8% year over year to $46 million. The combined ratio deteriorated 110 basis points year over year to 85.6. 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 Cincinnati Financial Corporation (CINF) : Free Stock Analysis Report RLI Corp. (RLI) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : 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

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%. Results benefited from stronger investment income and improved underwriting, while lower premiums written reflected continued portfolio actions. Selective Insurance Group, Inc. price-consensus-eps-surprise-chart | Selective Insurance Group, Inc. Quote 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.The combined ratio improved 220 basis points to 98%. Lower catastrophe and non-catastrophe property losses, along with no prior-year casualty reserve development, supported the improvement. Higher current-year casualty loss costs partly offset these benefits. After-tax net investment income increased 18% year over year to $119.2 million. Net investment income per common share rose 20% to $1.98.The after-tax yield was 4.4% for fixed-income securities and 4.2% for the overall portfolio. Investment income contributed 13.9 percentage points to annualized return on equity, up from 13 points a year ago. Standard Commercial Lines net premiums written fell 6% year over year to $961.9 million as lower new business weighed on production. Our estimate was $1 billion.Net premiums earned rose 3% to $962 million, while retention was 81%.The segment's combined ratio improved 350 basis points to 99.3%. The improvement reflected no prior-year casualty reserve development and lower non-catastrophe property losses, partly offset by higher current-year casualty loss costs. Standard Personal Lines net premiums written declined 8% to $101.5 million, while net premiums earned decreased 5% to $97.6 million. Our estimate for net premiums written was $111.4 million. New business fell 36%, renewal pure price increased 8.9% and retention remained at 79%.The segment's combined ratio deteriorated 390 basis points to 95.5%. Higher non-catastrophe property losses and a higher expense ratio pressured the result, though lower catastrophe losses provided some relief. Excess and Surplus Lines net premiums written decreased 2% year over year to $157.3 million. Our estimate was $174.7 million. Net premiums earned increased 5% to $155.8 million, while average renewal pure price rose 3.4%.The segment's combined ratio increased 200 basis points to 91.8%. Higher current-year casualty loss costs and non-catastrophe property losses more than offset lower catastrophe losses. After-tax underwriting income was $19.3 million against a loss of $1.9 million a year earlier. Non-GAAP operating income climbed 46% to $117.6 million, while net income available to common stockholders increased 52% to $127.1 million.Operating return on common equity improved 340 basis points year over year to 13.7%. The company marked its eighth consecutive quarter of double-digit operating returns. Total expenses increased slightly to $1.22 billion from $1.21 billion, reflecting higher other insurance expenses. Our estimate was $1.24 billion. Selective Insurance ended the quarter with total assets of $15.62 billion, up 3% from year-end 2025. Total investments increased 2% to $11.58 billion, while common stockholders' equity rose 2% to $3.46 billion.Book value per common share was $58.13, up 3% sequentially, while adjusted book value per share increased 3% to $60.56. During the quarter, the company repurchased $32 million of shares at an average price of $84.72. For 2026, Selective Insurance continues to expect a GAAP combined ratio of 96.5-97.5, including 6 points of catastrophe losses. The outlook assumes no prior-year casualty reserve development.The company raised its after-tax net investment income guidance to $480 million from $465 million. It continues to project an effective tax rate of 21.5% and now expects weighted average diluted shares of 60.2 million. Selective Insurance currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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.The Travelers Companies, Inc. TRV reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%.Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio.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. W.R. Berkley’s net premiums written were about $3.4 billion, up 2.4% year over year. The figure surpassed our estimate of $3.4 billion.Operating revenues totaled $ 3.8 billion, up 3.6% year over year. The top line surpassed the consensus estimate by 1.87%. Net investment income grew 10.4% to $418.7 million, supported by higher invested assets and higher portfolio yields. The figure topped our estimate of $407 million. The consensus estimate was $395.6 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 Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report Chubb Limited (CB) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

In the past quarter, W. R. Berkley Corporation reported second-quarter 2026 revenue of US$3,716.12 million and net income of US$452.26 million, with both basic and diluted earnings per share from continuing operations rising year over year. Alongside stronger earnings, the company continued shrinking its share count, having repurchased US$111.5 million of stock in the latest quarter and roughly US$4.74 billion since 2006, which can enhance per-share results over time. We’ll now examine how W. R. Berkley’s earnings beat and improving profitability profile interact with its existing investment narrative. Capitalize on the AI infrastructure supercycle with our selection of the 54 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. To own W. R. Berkley, you need to believe its specialty focus and underwriting discipline can offset competition, inflation, and catastrophe exposure. The latest quarter’s earnings beat and higher net investment income support that thesis in the near term, but they do not eliminate the risk that rising property and reinsurance competition, or a turn in loss trends, could pressure margins. The most important short term catalyst remains sustaining underwriting profitability while integrating recent leadership changes. The recent update on buybacks is especially relevant here. Repurchasing US$111.5 million of stock in Q2 2026, and roughly US$4.74 billion since 2006, directly supports per share earnings growth at a time when underwriting and investment income are driving results. If those operational drivers soften, continued capital returns could help cushion per share outcomes, but they would not fully offset sustained pressure on pricing or loss costs. Yet against this solid quarter, investors should still be aware that increasing competition and reinsurance dependence could... Read the full narrative on W. R. Berkley (it's free!) W. R. Berkley's narrative projects $14.3 billion revenue and $2.0 billion earnings by 2028. This implies 0.0% yearly revenue decline and an earnings increase of about $0.2 billion from $1.8 billion today. Uncover how W. R. Berkley's forecasts yield a $68.33 fair value, a 7% downside to its current price. Some analysts are far more optimistic, expecting earnings around US$2.1 billion by 2029 and higher profit margins, but Q2’s strong investment income and underwriting margin also highlight how rising catastrophe losses and competitive pressure could reshape those forecasts, so it is worth weighing how different your own expectations might be. Explore 2 other fair value estimates on W. R. Berkley - why the stock might be worth as much as 70% more than the current price! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your W. R. Berkley research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision. Our free W. R. Berkley research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate W. R. Berkley's overall financial health at a glance. The market won't wait. These fast-moving stocks are hot now. Grab the list before they run: Outshine the giants: these 16 early-stage AI stocks could fund your retirement. Find 38 companies with promising cash flow potential yet trading below their fair value. Invest in the nuclear renaissance through our list of 90 elite nuclear energy infrastructure plays powering the global AI revolution. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include WRB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

RLI Corp. RLI reported second-quarter 2026 operating earnings of 83 cents per share, which beat the Zacks Consensus Estimate by 16.9%. The bottom line increased 1.2% from the prior-year quarter. The quarterly results reflect continued premium growth, higher investment income and favorable prior-year reserve development. However, weaker underwriting performance in the casualty segment partly offset these positives. Operating revenues for the reported quarter were $463 million, up 4.9% year over year, driven by higher net premiums earned and net investment income. The top line beat the Zacks Consensus Estimate by 1.6%. RLI Corp. price-consensus-eps-surprise-chart | RLI Corp. Quote Gross premiums written (GPW) increased 3.1% year over year to $579.7 million, driven by strong growth in the casualty segment. Our estimate was $592.9 million. Net investment income increased 16.8% year over year to $46 million. The Zacks Consensus Estimate was $42.7 million, while our estimate for the metric was pegged at $40.7 million. The investment portfolio’s total return was 3.4% in the second quarter. Total expenses increased 6.4% year over year to $367.9 million, primarily due to higher policy acquisition costs, insurance operating expenses and interest expense on debt. Our estimate was $376.8 million. Underwriting income fell 3.7% year over year to $59.9 million. Our estimate was $53.1 million. The combined ratio deteriorated 110 basis points year over year to 85.6, reflecting higher catastrophe losses. Our estimate was 87.2. Casualty lines’ GPW rose 10.6% year over year to $339 million. The figure was above our estimate of $338.1 million. The underwriting income decreased significantly to $1.7 million from $8.3 million, down 79% year over year. The combined ratio deteriorated 280 bps year over year to 99.3%. The figure was above our estimate of 98.4%. Property lines’ GPW fell 5.9% year over year to $199.3 million. The figure was below our estimate of $207.7 million. The underwriting income increased to $53.5 million, up 8.1%, supported by favorable reserve development. The combined ratio improved 530 bps year over year to 56.8%. Our estimate was 65.2%. Surety lines’ GPW declined 5.7% year over year to $41.4 million. The figure was below our estimate of $47.1 million. The underwriting income improved 5.4% year over year to $4.7 million. The combined ratio improved 70 bps year over year to 87.2%. Our estimate was 84.8%. RLI exited the second quarter with total investments and cash of $4.9 billion, up 4.5% from 2025-end level. Book value was $19.09 per share as of June 30, 2026, up 11% from Dec. 31, 2025. Net cash flow from operations was $145.2 million, down 16.9% year over year. The statutory surplus increased 5.2% from 2025-end to $1.94 billion as of June 30, 2026. Return on equity was 24.5%, expanding 480 bps from the year-ago period. On June 12, 2026, the insurer paid a regular quarterly dividend of 18 cents per share for the second quarter. RLI’s cumulative dividends totaled more than $1.3 billion over the last five years. On May 14, 2026, the board of directors approved a $250 million share repurchase program. The company repurchased 0.2 million shares for $12 million during the second quarter. As of June 30, 2026, $238 million remained available under the authorization. RLI currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. First American Financial Corporation FAF reported second-quarter 2026 operating earnings of $2.08 per share, which beat the Zacks Consensus Estimate by 15.6% and rose 35.9% year over year. Operating revenues climbed 15% to $2.1 billion, driven by growth in direct premiums, escrow fees, and Information and other revenues. The top line surpassed the consensus estimate by 4.4%. Direct premiums and escrow fees reached $794.1 million, marking a 14.8% increase from the prior-year level. Investment income totaled $183.7 million in the second quarter, up 14.7% year over year. The figure exceeded both our estimate and the Zacks Consensus Estimate of $182.3 million. The Travelers Companies, Inc. TRV reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%. Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio. 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 figure surpassed our estimate of $3.4 billion. 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. 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 RLI Corp. (RLI) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report First American Financial Corporation (FAF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Kinsale Capital Group, Inc. KNSL delivered second-quarter 2026 net operating earnings of $5.54 per share, which outpaced the Zacks Consensus Estimate by 8.6%. The bottom line increased 15.9% year over year. Operating revenues increased 16.8% year over year to $548.5 million, which surpassed the Zacks Consensus Estimate by 12.3%. The quarterly results benefited from growth in net earned premiums, increased net investment income, favorable prior-year reserve development and disciplined underwriting. However, these gains were partially offset by lower gross written premiums and higher operating expenses. Kinsale Capital Group, Inc. price-consensus-eps-surprise-chart | Kinsale Capital Group, Inc. Quote Gross written premiums of $527.6 million decreased 5% year over year, primarily due to a 32.7% decline in the Commercial Property Division. Net written premiums declined 1.4% year over year to $452.5 million. Net investment income increased 19.9% year over year to $55.7 million. The increase was primarily driven by growth in the company’s investment portfolio. However, net investment income missed the Zacks Consensus Estimate by 4.7%. Total expenses increased 9% year over year to $328.7 million due to higher underwriting, acquisition and insurance expenses, interest expense and other operating expenses. Our model estimate was $342.4 million. Kinsale Capital’s underwriting income was $105.4 million, up 10.5% year over year. The increase was driven by growth in net earned premiums, higher favorable development of loss reserves from prior accident years, partially offset by lower ceding commissions. Underwriting income surpassed our model estimate of $70.8 million. The combined ratio improved 30 basis points (bps) year over year to 75.5 compared with the Zacks Consensus Estimate of 78.6. The loss ratio improved 130 bps to 53.8, reflecting favorable reserve development. The expense ratio deteriorated 100 bps year over year to 21.7. Kinsale Capital exited the second quarter of 2026 with cash and cash equivalents of $210.5 million, up 28.9% from the 2025-end level. As of June 30, 2026, stockholders' equity increased 3.9% from the 2025-end level to approximately $2.04 billion. Book value per share was $89.34 as of June 30, 2026, up 5.5% from the 2025-end level. Annualized operating return on equity deteriorated 30 bps year over year to 24.4% in the reported quarter. KNSL repurchased 0.3 million shares for $100 million in the second quarter of 2026. In July 2026, the board approved an additional $250 million share repurchase authorization, increasing the remaining capacity under the program to $337.5 million. KNSL paid a cash dividend of 25 cents per share in the second quarter of 2026. KNSL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Progressive Corporation’s PGR second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year. Net premiums written were $21.1 billion in the second quarter, up 5% from $20.1 billion a year ago. Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate. Net realized gains on securities were $604 million, up 56% year over year. The combined ratio, the percentage of premiums paid out as claims and expenses, deteriorated 110 basis points from the prior-year quarter’s level to 87.1. The Travelers Companies, Inc. TRV reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%. Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio. 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 figure surpassed our estimate of $3.4 billion. 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. 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 Kinsale Capital Group, Inc. (KNSL) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report The Progressive Corporation (PGR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Universal Insurance Holdings UVE delivered adjusted earnings of $1.84 per share for the second quarter of 2026, up 49.6% year over year. Earnings beat the Zacks Consensus Estimate of $1.43 by 28.7%.Total revenues increased 6.7% to $427 million and surpassed the consensus estimate of $382 million by 11.9%. The upside reflected improved underwriting results, higher net premiums earned and stronger investment income. Direct premiums written rose 4.1% to $621.3 million. UNIVERSAL INSURANCE HOLDINGS INC price-consensus-eps-surprise-chart | UNIVERSAL INSURANCE HOLDINGS INC Quote Direct premiums written in Florida increased 0.8% year over year to $453.2 million. Growth in the company’s largest market remained modest but positive, supported by retention and new business generation.Expansion outside Florida remained considerably faster. Direct premiums written in other states climbed 14.4% to $168.1 million, reflecting continued growth across Universal Insurance’s multi-state platform. Total policies in force advanced 7.1% to 934,371, while premiums in force increased 4.3% to $2.20 billion. The net loss ratio improved 750 basis points year over year to 64.8%, reflecting better current accident-year results. Management attributed the favorable claims and litigation trends to Florida’s legislative reforms and said its litigation inventory had returned to levels seen before the state’s litigation crisis.Net expense ratio deteriorated 130 basis points to 26.8%. Higher policy acquisition costs associated with growth outside Florida drove the increase, partly offset by a lower ceded premium ratio. The lower losses more than absorbed that pressure, improving the net combined ratio by 620 basis points to 91.6%. Net premiums earned rose 4.7% to $377.3 million, helped by higher direct premiums earned and a lower ceded premium ratio. Direct premiums earned increased 4.1% to $544.8 million, reflecting premium growth generated over the past 12 months.The ceded premium ratio declined to 30.8% from 31.2% a year earlier, primarily due to the new reinsurance program that took effect on June 1, 2026. Core revenues, which exclude realized and unrealized investment movements, increased 4.6% to $419.4 million. Net investment income rose to $20.2 million from $17.3 million in the prior-year quarter. Higher fixed-income reinvestment yields and a larger invested-asset base supported the increase.Commissions, policy fees and other revenues moved in the opposite direction, declining 6.7% to $21.9 million. The decrease primarily reflected commissions earned on reinstatements in the year-ago period. Total invested assets were $1.63 billion at quarter end, up from $1.53 billion at the end of 2025. Adjusted net income available to common stockholders increased 49.7% year over year to $53.4 million. The improvement was primarily driven by the lower net loss ratio, higher net premiums earned and stronger net investment income.Adjusted operating income advanced 51.6% to $74 million. Adjusted operating income margin expanded 540 basis points to 17.6%, demonstrating the earnings leverage generated by better underwriting performance. On a GAAP basis, operating income surged 70% to $81.6 million, while operating margin improved to 19.1% from 12%. Book value per share increased 39.7% year over year to $22.89. Adjusted book value per share rose 35.4% to $24.17, while annualized adjusted return on common equity improved 3.8 percentage points to 33.2%.UVE repurchased about $4.5 million worth of shares during the quarter. About $8.6 million remained under the current repurchase authorization. The board also declared a quarterly cash dividend of 16 cents per share, to be paid out on Aug. 7, 2026, to shareholders of record as of July 31. UVE currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Progressive Corporation’s PGR second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year. Net premiums written were $21.1 billion in the quarter, up 5% from $20.1 billion a year ago. Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate. Net realized gains on securities were $604 million, up 56% year over year. Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 110 basis points from the prior-year quarter’s level to 87.1.The Travelers Companies, Inc. TRV reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%.Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio.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. 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 UNIVERSAL INSURANCE HOLDINGS INC (UVE) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report The Progressive Corporation (PGR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research