Property & Casualty Insurance Stocks Q4 Teardown: Selective Insurance Group (NASDAQ:SIGI) Vs The Rest

As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the property & casualty insurance industry, including Selective Insurance Group (NASDAQ:SIGI) 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 37 property & casualty insurance stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 5%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Selective Insurance Group (NASDAQ:SIGI)

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, but 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.

“We are well-positioned to build on recent momentum. We delivered a double-digit operating ROE of 14.2% in 2025, reflecting the strength of our disciplined execution and resilience of our business model. This exceeds our ten-year average operating ROE of 12.1%. Our performance drove an 18% increase in book value per share in 2025, and we returned $182 million to common stockholders through regular dividends and opportunistic share repurchases,” said John J. Marchioni, Chairman, President and Chief Executive Officer.

Unsurprisingly, the stock is down 3.8% since reporting and currently trades at $80.85.

Is now the time to buy Selective Insurance Group? Access our full analysis of the earnings results here, it’s free.

Best Q4: HCI Group (NYSE:HCI)

Starting as a Florida "take-out" insurer that assumed policies from the state-backed Citizens Property Insurance Corporation, HCI Group (NYSE:HCI) provides property and casualty insurance, primarily homeowners coverage, while leveraging proprietary technology to improve underwriting and claims processing.

HCI Group reported revenues of $246.2 million, up 52.1% year on year, outperforming analysts’ expectations by 3.8%. The business had an incredible quarter with a solid beat of analysts’ book value per share estimates and a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 5.1% since reporting. It currently trades at $171.88.

Is now the time to buy HCI Group? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Old Republic International (NYSE:ORI)

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 estimates and a significant miss of analysts’ book value per share estimates.

As expected, the stock is down 2.3% since the results and currently trades at $42.13.

Read our full analysis of Old Republic International’s results here.

W. R. Berkley (NYSE:WRB)

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 1.5% year on year. This print came in 0.8% below analysts' expectations. It was a softer quarter as it also produced a significant miss of analysts’ book value per share estimates and EPS in line with analysts’ estimates.

The stock is up 5.5% since reporting and currently trades at $70.55.

Read our full, actionable report on W. R. Berkley here, it’s free.

Erie Indemnity (NASDAQ:ERIE)

Operating under a unique business model dating back to 1925, Erie Indemnity (NASDAQ:ERIE) serves as the attorney-in-fact for Erie Insurance Exchange, managing policy issuance, claims handling, and investment services for this reciprocal insurer.

Erie Indemnity reported revenues of $951 million, up 2.9% year on year. This result lagged analysts' expectations by 2.5%. In spite of that, it was a very strong quarter as it logged a beat of analysts’ EPS estimates.

The stock is up 3.8% since reporting and currently trades at $273.83.

Read our full, actionable report on Erie Indemnity here, it’s free.

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