FNF) And Property & Casualty Insurance Stocks In Q4
Looking back on property & casualty insurance stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Fidelity National Financial (NYSE:FNF) 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 33 property & casualty insurance stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 2.9%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.8% since the latest earnings results.
Issuing more title insurance policies than any other company in the United States, Fidelity National Financial (NYSE:FNF) provides title insurance and escrow services for real estate transactions while also offering annuities and life insurance through its F&G subsidiary.
Fidelity National Financial reported revenues of $4.05 billion, up 11.9% year on year. This print exceeded analysts’ expectations by 13%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ EPS estimates.
Chris Blunt, F&G’s Chief Executive Officer, said, “We delivered a strong finish to an outstanding year, highlighted by record assets under management before flow reinsurance of $73 billion fueled by $14.6 billion of gross sales in full year 2025, including $9 billion of gross sales in our core products – indexed annuities, indexed universal life and pension risk transfer. Our high quality, diversified investment portfolio continues to perform extremely well with credit-related impairments remaining stable and below our expectations. “
Fidelity National Financial Total Revenue
Unsurprisingly, the stock is down 13.9% since reporting and currently trades at $46.67.
Tracing its roots back to 1889 when California was experiencing its first major real estate boom, First American Financial (NYSE:FAF) provides title insurance, settlement services, and risk solutions for residential and commercial real estate transactions across the United States and internationally.
First American Financial reported revenues of $2.05 billion, up 21.6% year on year, outperforming analysts’ expectations by 15.2%. The business had an incredible quarter with a beat of analysts’ EPS and revenue estimates.
First American Financial Total Revenue
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 5.7% since reporting. It currently trades at $60.67.
Founded during the Roaring Twenties in 1923 and weathering nearly a century of economic cycles, Old Republic International (NYSE:ORI) is a diversified insurance holding company that provides property, liability, title, and mortgage guaranty insurance through its various subsidiaries.
Old Republic International reported revenues of $2.36 billion, up 9.5% year on year, exceeding analysts’ expectations by 1.6%. Still, it was a softer quarter as it posted a significant miss of analysts’ EPS and book value per share estimates.
As expected, the stock is down 6.4% since the results and currently trades at $40.36.
Playing a critical role in helping first-time homebuyers access the housing market, Enact Holdings (NASDAQ:ACT) provides private mortgage insurance that enables lenders to offer home loans with lower down payments while protecting against borrower defaults.
Enact Holdings reported revenues of $315.6 million, up 2.1% year on year. This number met analysts’ expectations. It was a strong quarter as it also recorded a beat of analysts’ EPS estimates.
The stock is up 3.6% since reporting and currently trades at $41.78.
Founded in 1926 during the early days of automobile insurance, Selective Insurance Group (NASDAQ:SIGI) is a property and casualty insurance company that sells commercial, personal, and excess and surplus lines insurance products through independent agents.
Selective Insurance Group reported revenues of $1.36 billion, up 8.6% year on year. This print was in line with analysts’ expectations. Taking a step back, it was a mixed quarter as it also recorded a beat of analysts’ EPS estimates but a significant miss of analysts’ book value per share estimates.
The stock is down 7.6% since reporting and currently trades at $77.72.
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