As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the property & casualty insurance industry, including Essent Group (NYSE: ESNT) 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 mixed Q1. As a group, revenues beat analysts’ consensus estimates by 1.9%.

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

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 $336.1 million, up 5.8% year on year. This print exceeded analysts’ expectations by 7.2%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ revenue and EPS estimates.

“We are pleased with our first quarter 2026 financial results, which continued to benefit from favorable credit trends and the impact of interest rates on both persistency and investment income,” said Mark A. Casale, Chairman and Chief Executive Officer.

The stock is down 1.2% since reporting and currently trades at $60.86.

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

Best Q1: 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 $781.3 million, up 27.7% year on year, outperforming analysts’ expectations by 4.6%. The business had an incredible quarter with a beat of analysts’ EPS and revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.2% since reporting. It currently trades at $66.83.

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

Weakest Q1: Fidelity National Financial (NYSE: FNF)

Issuing more title insurance policies than any other company in the United States, Fidelity National Financial (NYSE: FNF) provides title insurance and escrow services for real estate transactions while also offering annuities and life insurance through its F&G subsidiary.

Fidelity National Financial reported revenues of $3.23 billion, up 18.2% year on year, falling short of analysts’ expectations by 10.7%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and EPS estimates.

Fidelity National Financial delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 7.2% since the results and currently trades at $47.61.

Read our full analysis of Fidelity National Financial’s results here.

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 $242.9 million, up 12.2% year on year. This print missed analysts’ expectations by 1.1%. In spite of that, it was a strong quarter as it put up a solid beat of analysts’ book value per share estimates and an impressive beat of analysts’ net premiums earned estimates.

The stock is flat since reporting and currently trades at $153.14.

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

NMI Holdings (NASDAQ: NMIH)

Founded in the aftermath of the 2008 housing crisis to bring new capacity to the mortgage insurance market, NMI Holdings (NASDAQ: NMIH) provides mortgage insurance that protects lenders against losses when homebuyers default on their mortgage loans.

NMI Holdings reported revenues of $183.5 million, up 5.9% year on year. This result met analysts’ expectations. Aside from that, it was a mixed quarter as it also recorded revenue in line with analysts’ estimates but a narrow beat of analysts’ EPS estimates.

The stock is down 3.4% since reporting and currently trades at $37.38.

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

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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