The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Selective Insurance Group (NASDAQ: SIGI) and the rest of the property & casualty insurance stocks fared in Q1.

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 2.2%.

While some property & casualty insurance stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.5% since the latest earnings results.

Selective Insurance Group (NASDAQ: SIGI)

Founded in 1926 during the early days of automobile insurance, Selective Insurance Group (NASDAQ: SIGI) is a property and casualty insurance company that sells commercial, personal, and excess and surplus lines insurance products through independent agents.

Selective Insurance Group reported revenues of $1.36 billion, up 5.7% year on year. This print fell short of analysts’ expectations by 1%. Overall, it was a softer quarter for the company with a significant miss of analysts’ book value per share and EPS estimates.

“Our operating ROE of 12% this quarter was in-line with our long-term target and marked our seventh consecutive quarter of double-digit operating returns. We delivered a solid start to the year, which keeps us on track to achieve our 2026 guidance. In addition, we returned 57% of after-tax net income through our regular dividend and $30 million of share repurchases, reinforcing our commitment to delivering long-term value,” said John J. Marchioni, Chairman, President and Chief Executive Officer.

Interestingly, the stock is up 16.3% since reporting and currently trades at $90.29.

Read our full report on Selective Insurance Group here, it’s free.

Best Q1: Mercury General (NYSE: MCY)

Founded in 1961 and maintaining a network of over 6,300 independent agents across the country, Mercury General (NYSE: MCY) is an insurance company that primarily sells automobile insurance policies through independent agents in 11 states, with a strong focus on California.

Mercury General reported revenues of $1.54 billion, up 10.5% year on year, outperforming analysts’ expectations by 5.4%. The business had an incredible quarter with a beat of analysts’ EPS and net premiums earned estimates.

The market seems content with the results as the stock is up 2.9% since reporting. It currently trades at $100.30.

Is now the time to buy Mercury General? 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 $47.62.

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

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 $384 million, up 12.3% year on year. This result topped analysts’ expectations by 1.1%. It was an exceptional quarter as it also logged a beat of analysts’ EPS estimates and an impressive beat of analysts’ book value per share estimates.

The stock is down 7.9% since reporting and currently trades at $22.09.

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

Allstate (NYSE: ALL)

Born from a Sears, Roebuck & Co. initiative during the Great Depression with its famous "You're in good hands" slogan, Allstate (NYSE: ALL) is one of America's largest personal property and casualty insurers, offering protection for autos, homes, and personal property.

Allstate reported revenues of $17.35 billion, up 3.2% year on year. This number surpassed analysts’ expectations by 3%. Overall, it was a very strong quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ net premiums earned estimates.

The stock is up 2.2% since reporting and currently trades at $217.00.

Read our full, actionable report on Allstate 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 Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.