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 Q4. Today, we are looking at reinsurance stocks, starting with Reinsurance Group of America (NYSE: RGA).

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%.

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

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. This print exceeded analysts’ expectations by 6.8%. Overall, it was an incredible quarter for the company with an impressive beat of analysts’ book value per share estimates and a beat of analysts’ EPS estimates.

Tony Cheng, President and Chief Executive Officer, commented, “A very strong fourth quarter capped off another year of excellent financial results. This was another quarter with positive contributions from most of our business segments, demonstrating the strength and diversity of our global platform and local teams. I am gratified that the collective efforts of the global RGA team have produced results that we all can be proud of.

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $207.19.

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

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, outperforming analysts’ expectations by 12.9%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

Hamilton Insurance Group pulled off the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.1% since reporting. It currently trades at $28.68.

Is now the time to buy Hamilton Insurance Group? 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.

The stock is flat since the results and currently trades at $334.28.

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

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 surpassed analysts’ expectations by 1.4%. It was a very strong quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

RenaissanceRe delivered the fastest revenue growth among its peers. The stock is up 4.5% since reporting and currently trades at $298.68.

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

AXIS Capital (NYSE: AXS)

Founded in the aftermath of the 9/11 attacks when insurance capacity was scarce, AXIS Capital Holdings Limited (NYSE: AXS) is a global specialty insurer and reinsurer that provides coverage for complex risks across property, liability, professional lines, cyber, and other specialty markets.

AXIS Capital reported revenues of $1.72 billion, up 8.9% year on year. This number beat analysts’ expectations by 1.8%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ net premiums earned estimates and a solid beat of analysts’ revenue estimates.

The stock is down 1.5% since reporting and currently trades at $102.19.

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

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