The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how property & casualty insurance stocks fared in Q4, starting with Travelers (NYSE: TRV).

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 4.8%.

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

Travelers (NYSE: TRV)

Tracing its roots back to 1853 when it insured travelers against accidents on steamboats and railroads, Travelers (NYSE: TRV) provides a wide range of commercial and personal property and casualty insurance products to businesses, government units, associations, and individuals.

Travelers reported revenues of $12.45 billion, up 3.2% year on year. This print exceeded analysts’ expectations by 0.5%. 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.

Interestingly, the stock is up 13.9% since reporting and currently trades at $307.11.

Is now the time to buy Travelers? 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 content with the results as the stock is up 5% since reporting. It currently trades at $171.66.

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

Weakest Q4: Trupanion (NASDAQ: TRUP)

Born from a vision to help pet owners avoid economic euthanasia when faced with expensive veterinary bills, Trupanion (NASDAQ: TRUP) provides medical insurance for cats and dogs through data-driven, vertically-integrated products priced specifically for each pet's unique characteristics.

Trupanion reported revenues of $376.9 million, up 11.7% 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 17.4% since the results and currently trades at $26.54.

Read our full analysis of Trupanion’s results here.

The Hanover Insurance Group (NYSE: THG)

Founded in 1852 during a time when fire insurance was crucial for protecting businesses and homes, The Hanover Insurance Group (NYSE: THG) provides property and casualty insurance products through independent agents, serving individuals, small businesses, and mid-sized companies.

The Hanover Insurance Group reported revenues of $1.69 billion, up 4.3% year on year. This result missed analysts’ expectations by 1.1%. More broadly, it was a satisfactory quarter as it also recorded a beat of analysts’ EPS estimates but a miss of analysts’ net premiums earned estimates.

The stock is up 3.8% since reporting and currently trades at $180.65.

Read our full, actionable report on The Hanover Insurance Group here, it’s free.

Stewart Information Services (NYSE: STC)

Founded in 1893 during America's westward expansion when property records were often disputed, Stewart Information Services (NYSE: STC) provides title insurance and real estate services, helping homebuyers, sellers, and lenders verify property ownership and protect against title defects.

Stewart Information Services reported revenues of $795.5 million, up 19.7% year on year. This number beat analysts’ expectations by 2.6%. Overall, it was a stunning quarter as it also logged a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

The stock is up 3.1% since reporting and currently trades at $71.02.

Read our full, actionable report on Stewart Information Services here, it’s free.

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