The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how property & casualty insurance stocks fared in Q1, starting with Palomar Holdings (NASDAQ: PLMR).

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 as they are up 3.2% on average since the latest earnings results.

Palomar Holdings (NASDAQ: PLMR)

Founded in 2013 to fill gaps in catastrophe insurance markets, Palomar Holdings (NASDAQ: PLMR) is a specialty insurance provider that offers property and casualty insurance products in underserved markets, with a focus on earthquake coverage.

Palomar Holdings reported revenues of $278.9 million, up 59.7% year on year. This print exceeded analysts’ expectations by 5.8%. Despite the top-line beat, it was still a mixed quarter for the company with an impressive beat of analysts’ net premiums earned estimates but a significant miss of analysts’ book value per share estimates.

Mac Armstrong, Chairman and Chief Executive Officer, commented, “The first quarter was another demonstration of our sustained profitable growth. Our unique, ‘one of one’ specialty products portfolio is purposely built to generate consistent earnings and compelling margins in any market cycle. The combination of Palomar’s mix of personal and commercial lines products written on both an admitted and excess and surplus basis, and strong growth from our Crop and Surety franchises made for a great start to the year.”

Interestingly, the stock is up 5% since reporting and currently trades at $116.30.

Is now the time to buy Palomar Holdings? 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 estimates.

Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 1.3% since reporting. It currently trades at $67.44.

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’ EPS estimates.

Fidelity National Financial delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 8.8% since the results and currently trades at $46.77.

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 came in 1.1% below analysts’ expectations. Zooming out, it was actually a strong quarter as it logged an impressive beat of analysts’ book value per share estimates and a solid beat of analysts’ net premiums earned estimates.

The stock is up 12% since reporting and currently trades at $172.31.

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

Assurant (NYSE: AIZ)

With roots dating back to 1892 when it was founded by a Civil War veteran, Assurant (NYSE: AIZ) provides specialized insurance products and services that protect major consumer purchases like mobile devices, vehicles, homes, and appliances.

Assurant reported revenues of $3.42 billion, up 11.3% year on year. This number beat analysts’ expectations by 3.8%. It was an exceptional quarter as it also logged an impressive beat of analysts’ net premiums earned estimates and a beat of analysts’ EPS estimates.

The stock is up 15.8% since reporting and currently trades at $265.38.

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