Looking back on property & casualty insurance stocks’ Q2 earnings, we examine this quarter’s best and worst performers, 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 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.

While some property & casualty insurance stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.1% 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 $1.39 billion, up 4.6% year on year. This print exceeded analysts’ expectations by 1.8%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but a significant miss of analysts’ book value per share estimates.

“Our results reflect disciplined execution in an increasingly competitive environment. Operating ROE in the quarter was 13.7%, which marked our eighth consecutive quarter of double-digit operating returns. With our strong capital position and commitment to delivering long-term value, we returned 45% of after-tax net income through our regular dividend and $32 million of share repurchases. Even with this capital return, book value per share grew 3% in the quarter,” said John J. Marchioni, Chairman, President and Chief Executive Officer.

Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 6% since reporting and currently trades at $91.96.

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

Best Q2: Essent Group (NYSE: ESNT)

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 happy with the results as the stock is up 6% since reporting. It currently trades at $69.43.

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

Weakest Q2: Radian Group (NYSE: RDN)

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 5.4% since the results and currently trades at $37.06.

Read our full analysis of Radian Group’s results here.

CNA Financial (NYSE: CNA)

With roots dating back to 1853 and majority ownership by Loews Corporation, CNA Financial (NYSE: CNA) is a commercial property and casualty insurance provider offering coverage for businesses, including professional liability, surety bonds, and specialized risk management services.

CNA Financial reported revenues of $3.83 billion, up 1.9% year on year. This result topped analysts’ expectations by 1.2%. It was a very strong quarter as it also logged a beat of analysts’ EPS estimates.

The stock is down 5.1% since reporting and currently trades at $49.80.

Read our full, actionable report on CNA Financial here, it’s free.

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 $2.33 billion, up 5.2% year on year. This print came in 1.8% below analysts’ expectations. It was a softer quarter as it also recorded a significant miss of analysts’ net premiums earned and book value per share estimates.

The stock is up 2.2% since reporting and currently trades at $42.51.

Read our full, actionable report on Old Republic International here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.