As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at property & casualty insurance stocks, starting with Old Republic International (NYSE: ORI).

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 31 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.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 8.4% since the latest earnings results.

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 fell short of analysts’ expectations by 1.8%. Overall, it was a softer quarter for the company with a significant miss of analysts’ net premiums earned estimates and a miss of analysts’ book value per share estimates.

The market seems disappointed with the results as the stock is down 9.3% since reporting and currently trades at $37.72.

Read our full report on Old Republic International 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.

Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 8.8% since reporting. It currently trades at $59.72.

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 95.7% 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 14.4% since the results and currently trades at $33.51.

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

Skyward Specialty Insurance (NASDAQ: SKWD)

Founded in 2006 to serve markets where standard insurance coverage falls short, Skyward Specialty Insurance (NASDAQ: SKWD) provides customized commercial property, casualty, and health insurance solutions for underserved or specialized market niches.

Skyward Specialty Insurance reported revenues of $489.5 million, up 53% year on year. This number topped analysts’ expectations by 4.4%. It was a very strong quarter as it also logged an impressive beat of analysts’ net premiums earned estimates and a decent beat of analysts’ book value per share estimates.

The stock is down 10.4% since reporting and currently trades at $55.17.

Read our full, actionable report on Skyward Specialty Insurance here, it’s free.

Kinsale Capital Group (NYSE: KNSL)

Founded in 2009 during the aftermath of the financial crisis when many insurers were retreating from riskier markets, Kinsale Capital Group (NYSE: KNSL) is an insurance company that specializes in writing policies for hard-to-place, unusual, or high-risk businesses that standard insurers typically avoid.

Kinsale Capital Group reported revenues of $548.5 million, up 16.8% year on year. This print beat analysts’ expectations by 14.9%. 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.

Kinsale Capital Group pulled off the biggest analyst estimate beat in the group. The stock is flat since reporting and currently trades at $331.18.

Read our full, actionable report on Kinsale Capital Group 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 Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.