In this post, we review the 2019 stock price returns for US property and casualty (re)insurers.
The top 5 performing stocks are shown in the graph below. Three of the five are small E&S carriers (PLMR, KNSL, HALL).
If we focus on the largest five P&C stocks (by market cap), we can see that all of them were up considerably over the year. ALL and AIG outperformed the S&P500’s return of 30%.
The table below summarizes the 2019 performance for all US listed P&C (re)insurer stocks.
Summary of 2019 P&C (Re)Insurer Stock Performance |
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ticker |
Company |
Total return |
Market cap ($m) |
BOY price |
EOY price |
Price return |
Div yield |
% up days |
% down days |
PLMR |
Palomar Holdings Inc. Common stock |
165.9% |
50,502,672,000 |
18.99 |
50.49 |
165.9% |
0.0% |
61% |
38% |
KNSL |
Kinsale Capital Group Inc. Common Stock |
83.2% |
33,166,745,000 |
55.69 |
101.66 |
82.5% |
0.4% |
57% |
42% |
HALL |
Hallmark Financial Services Inc. Common Stock |
63.9% |
933,482,000 |
107.20 |
175.70 |
63.9% |
0.0% |
54% |
42% |
ACGL |
Arch Capital Group Ltd. Common Stock |
63.8% |
660,195,296,000 |
26.19 |
42.89 |
63.8% |
0.0% |
61% |
37% |
FGFPP |
FG Financial Group Inc. 8.00% Cumulative Preferred Stock |
52.3% |
NA |
19.27 |
27.11 |
40.6% |
8.3% |
46% |
36% |
RNR |
RenaissanceRe Holdings Ltd. Common Stock |
50.9% |
29,219,183,000 |
130.39 |
196.02 |
50.3% |
0.4% |
54% |
45% |
AIZ |
Assurant Inc. Common Stock |
48.7% |
57,792,380,000 |
90.10 |
131.08 |
45.5% |
2.2% |
60% |
39% |
WRB |
W.R. Berkley Corporation Common Stock |
46.8% |
764,257,274,000 |
32.19 |
46.07 |
43.1% |
2.5% |
60% |
38% |
HIG |
Hartford Financial Services Group Inc. (The) Common Stock |
43.0% |
447,066,600,000 |
43.42 |
60.77 |
40.0% |
2.2% |
58% |
41% |
CINF |
Cincinnati Financial Corporation Common Stock |
42.2% |
893,840,500,000 |
75.62 |
105.15 |
39.1% |
2.2% |
60% |
40% |
ALL |
Allstate Corporation (The) Common Stock |
40.5% |
360,745,296,000 |
81.64 |
112.45 |
37.7% |
2.0% |
61% |
39% |
RLI |
RLI Corp. Common Stock (DE) |
35.6% |
22,529,770,000 |
67.79 |
90.02 |
32.8% |
2.1% |
56% |
43% |
RE |
Everest Re Group Ltd. Common Stock |
31.9% |
495,636,800,000 |
213.66 |
276.84 |
29.6% |
1.8% |
58% |
41% |
ACGLO |
Arch Capital Group Ltd. Depositary Shares Each Representing 1/1000th Interest in a Share of 5.45% Non-Cumulative Preferred Shares Series F |
30.9% |
NA |
20.81 |
25.79 |
23.9% |
5.6% |
57% |
37% |
WTM |
White Mountains Insurance Group Ltd. Common Stock |
30.6% |
61,775,107,000 |
855.00 |
1,115.51 |
30.5% |
0.1% |
58% |
42% |
ERIE |
Erie Indemnity Company Class A Common Stock |
30.1% |
246,747,322,000 |
130.20 |
166.00 |
27.5% |
2.1% |
57% |
42% |
AFG |
American Financial Group Inc. Common Stock |
28.6% |
124,778,004,000 |
89.47 |
109.65 |
22.6% |
4.9% |
55% |
45% |
FGF |
FG Financial Group Inc. Common Stock (NV) |
28.4% |
498,814,000 |
4.30 |
5.52 |
28.4% |
0.0% |
42% |
45% |
THG |
Hanover Insurance Group Inc |
28.3% |
84,053,200,000 |
115.37 |
136.67 |
18.5% |
8.3% |
56% |
43% |
PGR |
Progressive Corporation (The) Common Stock |
27.5% |
519,945,850,000 |
59.23 |
72.39 |
22.2% |
4.3% |
58% |
42% |
ESGRP |
Enstar Group Limited Depositary Shares Each Representing 1/1000th of an interest in Preference Shares |
26.0% |
NA |
23.68 |
27.92 |
17.9% |
6.9% |
54% |
41% |
CB |
Chubb Limited Common Stock |
24.8% |
630,911,333,000 |
127.29 |
155.66 |
22.3% |
2.0% |
56% |
44% |
ESGR |
Enstar Group Limited Ordinary Shares |
23.1% |
80,022,716,000 |
168.03 |
206.86 |
23.1% |
0.0% |
54% |
45% |
ESGRO |
Enstar Group Limited Depository Shares 7.00% Perpetual Non-Cumulative Preference Shares Series E |
22.8% |
NA |
23.80 |
27.27 |
14.6% |
7.1% |
57% |
39% |
TRV |
The Travelers Companies Inc. Common Stock |
19.4% |
254,287,987,000 |
117.37 |
136.95 |
16.7% |
2.3% |
59% |
40% |
HMN |
Horace Mann Educators Corporation Common Stock |
19.4% |
49,152,620,000 |
37.59 |
43.66 |
16.1% |
2.8% |
54% |
44% |
KMPR |
Kemper Corporation |
19.0% |
91,946,408,000 |
65.98 |
77.50 |
17.5% |
1.3% |
57% |
42% |
SAFT |
Safety Insurance Group Inc. Common Stock |
18.5% |
15,675,563,000 |
80.95 |
92.53 |
14.3% |
3.6% |
54% |
45% |
AXS |
Axis Capital Holdings Limited Common Stock |
17.9% |
5,425,626,000 |
51.07 |
59.44 |
16.4% |
1.3% |
52% |
46% |
JRVR |
James River Group Holdings Ltd. Common Shares |
17.1% |
91,398,000 |
35.90 |
41.21 |
14.8% |
2.0% |
54% |
43% |
L |
Loews Corporation Common Stock |
17.0% |
443,590,705,000 |
45.08 |
52.49 |
16.4% |
0.5% |
60% |
40% |
DGICA |
Donegal Group Inc. Class A Common Stock |
12.5% |
8,864,454,000 |
13.73 |
14.82 |
7.9% |
4.2% |
48% |
50% |
DGICB |
Donegal Group Inc. Class B Common Stock |
12.4% |
8,864,454,000 |
11.80 |
12.75 |
8.1% |
4.0% |
16% |
14% |
MKL |
Markel Corporation Common Stock |
11.8% |
791,363,478,000 |
1,022.24 |
1,143.17 |
11.8% |
0.0% |
54% |
46% |
SIGI |
Selective Insurance Group Inc. Common Stock |
11.1% |
2,965,938,000 |
59.36 |
65.19 |
9.8% |
1.2% |
53% |
46% |
CNA |
CNA Financial Corporation Common Stock |
10.7% |
175,307,585,000 |
43.64 |
44.81 |
2.7% |
7.9% |
58% |
41% |
CNFRL |
Conifer Holdings Inc. 6.75% Senior Unsecured Notes due 2023 |
10.7% |
NA |
21.75 |
22.35 |
2.8% |
7.7% |
34% |
37% |
SPNT |
SiriusPoint Ltd. Common Shares |
10.0% |
16,193,881,000 |
9.56 |
10.52 |
10.0% |
0.0% |
51% |
46% |
NODK |
NI Holdings Inc. Common Stock |
9.6% |
8,441,267,000 |
15.70 |
17.20 |
9.6% |
0.0% |
53% |
44% |
CNFR |
Conifer Holdings Inc. Common Stock |
8.1% |
141,155,000 |
3.70 |
4.00 |
8.1% |
0.0% |
33% |
35% |
IGIC |
International General Insurance Holdings Ltd. Ordinary Share |
7.0% |
9,010,298,000 |
9.81 |
10.50 |
7.0% |
-0.0% |
30% |
21% |
GLRE |
Greenlight Capital Re Ltd. Class A Ordinary Shares |
4.9% |
3,674,867,000 |
9.64 |
10.11 |
4.9% |
0.0% |
44% |
51% |
EIG |
Employers Holdings Inc Common Stock |
3.3% |
17,269,712,000 |
41.26 |
41.75 |
1.2% |
2.1% |
52% |
46% |
ICCH |
ICC Holdings Inc. Common Stock |
0.9% |
953,566,000 |
13.96 |
14.09 |
0.9% |
0.0% |
25% |
25% |
MCY |
Mercury General Corporation Common Stock |
0.7% |
82,724,719,000 |
50.71 |
48.73 |
-3.9% |
4.8% |
56% |
43% |
ARGO |
Argo Group International Holdings Ltd. |
-1.5% |
1,751,464,000 |
67.40 |
65.75 |
-2.4% |
1.0% |
52% |
48% |
UNAM |
Unico American Corporation Common Stock |
-3.2% |
94,144,000 |
6.51 |
6.30 |
-3.2% |
0.0% |
25% |
23% |
HCI |
HCI Group Inc. Common Stock |
-5.6% |
7,567,908,000 |
50.15 |
45.65 |
-9.0% |
3.7% |
55% |
44% |
OXBR |
Oxbridge Re Holdings Limited Ordinary Shares |
-5.7% |
104,283,000 |
0.79 |
0.74 |
-5.7% |
0.0% |
43% |
49% |
PRA |
ProAssurance Corporation Common Stock |
-5.9% |
4,905,152,000 |
39.68 |
36.14 |
-8.9% |
3.4% |
48% |
51% |
HRTG |
Heritage Insurance Holdings Inc. Common Stock |
-9.9% |
211,994,000 |
14.95 |
13.25 |
-11.4% |
1.7% |
45% |
54% |
GBLI |
Global Indemnity Group LLC Class A Common Stock (DE) |
-15.0% |
2,385,324,000 |
36.07 |
29.63 |
-17.9% |
3.5% |
48% |
52% |
UFCS |
United Fire Group Inc. Common Stock |
-17.9% |
8,713,192,000 |
54.81 |
43.73 |
-20.2% |
2.9% |
50% |
48% |
UIHC |
United Insurance Holdings Corp. Common Stock |
-20.9% |
2,537,692,000 |
16.22 |
12.61 |
-22.3% |
1.8% |
44% |
54% |
UVE |
UNIVERSAL INSURANCE HOLDINGS INC Common Stock |
-23.3% |
9,133,730,000 |
37.45 |
27.99 |
-25.3% |
2.6% |
50% |
49% |
MHLD |
Maiden Holdings Ltd. |
-56.1% |
5,313,960,000 |
1.71 |
0.75 |
-56.1% |
0.0% |
41% |
46% |