Looking back on reinsurance stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Hamilton Insurance Group (NYSE: HG) and its peers.

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. The primary headwind remains the immense and concentrated exposure to large-scale catastrophe losses, as the growing impact of climate change challenges traditional risk models and creates significant earnings volatility. Additionally, they face the risk of adverse prior-year reserve development, where claims prove more costly than anticipated, while the eventual influx of new capital from alternative sources threatens to soften the market and compress future returns.

The 6 reinsurance stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 1.1%.

While some reinsurance stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.2% since the latest earnings results.

Hamilton Insurance Group (NYSE: HG)

Founded in 2013 and operating through three distinct underwriting platforms across four countries, Hamilton Insurance Group (NYSE: HG) operates global specialty insurance and reinsurance platforms across Lloyd's, Ireland, Bermuda, and the United States.

Hamilton Insurance Group reported revenues of $728.3 million, up 27.7% year on year. This print exceeded analysts’ expectations by 12.9%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

Hamilton Insurance Group achieved the biggest analyst estimates beat of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 1.4% since reporting and currently trades at $28.90.

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

Reinsurance Group of America (NYSE: RGA)

Operating behind the scenes of the insurance industry since 1973, Reinsurance Group of America (NYSE: RGA) provides life and health reinsurance services to insurance companies, helping them manage risk and meet regulatory requirements.

Reinsurance Group of America reported revenues of $6.79 billion, up 23.6% year on year, outperforming analysts’ expectations by 6.8%. The business had an incredible quarter with a solid beat of analysts’ book value per share estimates and a beat of analysts’ EPS estimates.

However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $206.98.

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

Weakest Q4: Everest Group (NYSE: EG)

Rebranded from Everest Re in 2023 to reflect its evolution beyond just reinsurance, Everest Group (NYSE: EG) underwrites property and casualty reinsurance and insurance worldwide, serving insurance companies, corporations, and other clients across six continents.

Everest Group reported revenues of $4.42 billion, down 4.6% year on year, falling short of analysts’ expectations by 1.6%. It was a softer quarter as it posted a significant miss of analysts’ EPS estimates and a miss of analysts’ revenue estimates.

As expected, the stock is down 1.8% since the results and currently trades at $327.50.

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

Fidelis Insurance (NYSE: FIHL)

Founded in Bermuda in 2014 and designed to adapt nimbly to evolving market conditions, Fidelis Insurance (NYSE: FIHL) is a global specialty insurance and reinsurance company focused on creating value through strategic capital allocation, expert risk selection and a network of long-term underwriting partnerships.

Fidelis Insurance reported revenues of $600.9 million, down 10.8% year on year. This number missed analysts’ expectations by 15%. It was a slower quarter as it also logged a significant miss of analysts’ revenue estimates and a significant miss of analysts’ net premiums earned estimates.

Fidelis Insurance had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 6% since reporting and currently trades at $18.91.

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

RenaissanceRe (NYSE: RNR)

Born in Bermuda after the devastating Hurricane Andrew created a crisis in the catastrophe insurance market, RenaissanceRe (NYSE: RNR) provides property, casualty, and specialty reinsurance and insurance solutions to customers worldwide, primarily through intermediaries.

RenaissanceRe reported revenues of $2.97 billion, up 29.6% year on year. This print topped analysts’ expectations by 1.4%. Overall, it was a very strong quarter as it also put up a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

RenaissanceRe scored the fastest revenue growth among its peers. The stock is up 4% since reporting and currently trades at $297.33.

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

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