Core Insights - CNA Financial Corporation reported second-quarter 2025 core earnings of $1.23 per share, exceeding the Zacks Consensus Estimate by 30.9% and reflecting a year-over-year increase of 3.4% [1][10] - Total operating revenues reached $3.4 billion, marking a 7.7% year-over-year growth, driven by higher premiums, net investment income, and other revenues, surpassing the Zacks Consensus Estimate by 3.5% [2][10] - Underwriting income rose significantly by 20.9% year over year to $150 million, with an improved combined ratio of 94.8, which is better than the Zacks Consensus Estimate of 93.6 [5][10] Revenue and Premiums - Net written premiums for Property & Casualty Operations increased by 6.4% year over year to $2.8 billion, exceeding the estimate of $2.7 billion [2] - Specialty's net written premiums grew by 4.1% year over year to $892 million, surpassing the estimate of $867.7 million [6] - Commercial's net written premiums increased by 7.2% year over year to $1.6 billion, slightly missing the estimate [6] Investment Income - Net investment income rose by 7.1% year over year to $662 million, driven by higher income from fixed income securities and favorable returns from limited partnerships and common stocks [3] - The estimate for net investment income was $686.6 million, indicating a slight miss against expectations [3] Claims and Expenses - Total claims, benefits, and expenses increased by 7.1% year over year to $3.3 billion, primarily due to higher insurance claims and policyholders' benefits [4] - Catastrophe losses were reported at $62 million, which is an improvement from a loss of $82 million in the same quarter last year [4] Financial Metrics - The core return on equity expanded by 40 basis points to 11% [9] - Book value, excluding AOCI, as of June 30 was $45.25 per share, down 2% from the end of 2024 [9] - Statutory capital and surplus for the Combined Continental Casualty Companies increased by 0.3% from the end of 2024 to $11.2 billion [9] Dividend Information - CNA Financial's board approved a quarterly dividend of 46 cents per share, payable on September 4, 2025, to stockholders of record on August 18, 2025 [12]

Core Insights - Selective Insurance Group, Inc. (SIGI) reported second-quarter 2025 operating income of $1.31 per share, missing the Zacks Consensus Estimate by 15.5%, but rebounding from a loss of $1.10 per share in the prior year [1][8] - The company's total revenues reached $1.3 billion, a 10.9% increase year-over-year, driven by higher net premiums written and net investment income, surpassing estimates by 0.9% [2][8] Financial Performance - Net premiums written (NPW) increased by 5% year-over-year to $1.3 billion, with average renewal pure price rising 80 basis points to 9.9% [2] - Net investment income rose 18% year-over-year to $101 million [3] - Net catastrophe losses were $79.9 million, down from $90.5 million in the previous year, while non-catastrophe property losses decreased to $173.2 million from $185.5 million [3] Combined Ratio and Expenses - The combined ratio improved by 1590 basis points year-over-year to 96.1, benefiting from lower catastrophe losses and loss expenses, compared to the Zacks Consensus Estimate of 98 [4][8] - Total expenses declined by 4.6% year-over-year to $1.2 billion, aligning with estimates [4] Segmental Results - Standard Commercial Lines' NPW increased by 6% year-over-year to $1 billion, with a combined ratio improvement of 1600 basis points to 102.8 [5] - Standard Personal Lines' NPW decreased by 5% year-over-year to $110.5 million, with a combined ratio improvement of 2650 basis points to 91.6 [6] - Excess & Surplus Lines' NPW rose by 9% year-over-year to $160.2 million, with a combined ratio improvement of 480 basis points to 89.8 [7] Financial Position - As of June 30, 2025, total assets were $14.5 billion, a 7% increase from December 2024 [9] - Long-term debt surged by 78% to $902.7 million, with a debt-to-total capitalization ratio of 21.1% [9] - Adjusted book value per share increased by 5% year-over-year to $54.48, with an operating return on common equity of 10.3% compared to negative 9.6% in the prior year [9] Shareholder Returns - The board authorized a quarterly cash dividend of 38 cents per share, payable on September 2, 2025 [10] 2025 Guidance - SIGI estimates a GAAP combined ratio of 97% to 98%, reflecting a 100-basis point deterioration from previous guidance, with net catastrophe losses expected to contribute 6 points [11] - The company anticipates after-tax net investment income of $415 million, an increase from prior guidance of $405 million [11]

Core Insights - RLI Corp. reported second-quarter 2025 operating earnings of 84 cents per share, exceeding the Zacks Consensus Estimate by 12%, although this represents a 2.3% decrease from the prior-year quarter [1] Operational Performance - Operating revenues for the quarter were $441 million, reflecting a 6.9% year-over-year increase, driven by a 6% rise in net premiums earned and a 16% increase in net investment income, though it missed the Zacks Consensus Estimate by 0.5% [2] - Gross premiums written remained flat at $562.3 million, with performance improvements in the Casualty and Property segments offset by a decline in the Surety segment [2] - Net investment income rose 16% year over year to $39.4 million, aligning with estimates, while total expenses increased by 9.8% to $345.8 million due to higher loss and settlement expenses [3] Financial Update - Underwriting income decreased by 11.14% year over year to $62.2 million, with the combined ratio deteriorating by 300 basis points to 84.5, better than the Zacks Consensus Estimate of 88 [4] - RLI exited the quarter with total investments and cash of $4.4 billion, an 8.4% increase from the end of 2024, and book value rose 13.9% to $18.89 per share [4] - Net cash flow from operations increased by 23.2% year over year to $174.7 million [4] - The statutory surplus increased by 2.3% to $1.8 billion as of June 30, 2025, while return on equity was 23.5%, down 180 basis points from the previous year [5] Dividend Update - On June 20, 2025, RLI paid a dividend of 16 cents, an increase of 1 cent from the previous payout, with cumulative dividends exceeding $971 million over the last five years [6] Peer Performances - The Travelers Companies reported second-quarter 2025 core income of $6.51 per share, beating estimates by 83.8%, with total revenues increasing by 6.7% to $12.1 billion [9] - The Progressive Corporation's earnings per share of $4.88 exceeded estimates by 10.1%, with operating revenues rising 19.5% to $42.2 billion [10] - W.R. Berkley's operating income of $1.05 per share beat estimates, with operating revenues at $3.6 billion, up 7.9% year over year [11]

Core Insights - CNA Financial Corporation reported first-quarter 2025 core earnings of $1.03 per share, missing the Zacks Consensus Estimate by 11.2%, and reflecting a year-over-year decrease of 20.7% [1] - Total operating revenues increased by 5.9% year over year to $3.2 billion, driven by higher premiums, and exceeded the Zacks Consensus Estimate by 5.5% [1] Financial Performance - Net written premiums for Property & Casualty Operations rose by 9% year over year to $2.6 billion, surpassing the estimate of $2.3 billion [2] - Net investment income decreased by 0.8% year over year to $604 million, falling short of the estimate of $698.2 million [2] - Total claims, benefits, and expenses increased by 8.6% to $3.3 billion, primarily due to higher insurance claims and policyholders' benefits, exceeding the estimate of $3 billion [3] - Underwriting income fell by 68.2% year over year to $40 million, with catastrophe losses amounting to $97 million, including $53 million for California wildfires, compared to a loss of $88 million in the prior year [3] Combined Ratio and Segment Results - The combined ratio deteriorated by 380 basis points year over year to 98.4, including 3.8 points of catastrophe loss from California wildfires [4] - Specialty's net written premiums increased by 6% year over year to $842 million, exceeding the estimate of $748 million, with a combined ratio of 95.1 [5] - Commercial's net written premiums climbed by 12% year over year to $1.5 billion, surpassing the estimate of $1.3 billion, with a combined ratio of 101.1 [5] - International's net written premiums rose by 2% year over year to $266 million, slightly above the estimate of $262 million, with a combined ratio of 95.4 [5] - Life & Group's net earned premiums decreased by 3.6% year over year to $106 million, with core income of $6 million, reflecting a 20% increase year over year [6] Corporate and Financial Update - Corporate & Other's core loss widened to $36 million from a loss of $22 million in the prior year, primarily due to a $17 million after-tax charge related to legacy mass tort claims [7] - Total assets increased by 1.2% from the end of 2024 to $67.6 billion, while stockholders' equity decreased by 2.2% to $10.2 billion [8] - The core return on equity contracted by 230 basis points to 9.2%, with book value, excluding AOCI, rising by 2% to $44.58 per share [8] - Statutory surplus decreased by 1.9% to $10.9 billion, and debt-to-capital ratio deteriorated by 40 basis points to 22.4 [8] - Net cash flows from operating activities increased by 26.5% from the end of 2024 to $638 million [9] Dividend Update - CNA Financial's board approved a quarterly dividend of 46 cents per share, payable on June 5 to shareholders as of May 19 [10]

Core Viewpoint - AXIS Capital Holdings Limited reported strong first-quarter 2025 results with operating income of $3.17 per share, exceeding estimates by 20% and reflecting a year-over-year increase of 23.3% driven by solid underwriting income and improved investment income [1][2] Quarterly Operational Update - Total operating revenues reached $1.6 billion, missing estimates by 5.9% but showing an 8.2% year-over-year increase due to higher net premiums earned and net investment income [1] - Net investment income surged 24% year over year to $208 million, primarily from cash and cash equivalents, higher returns on alternative investments, and increased yields on fixed maturities [2] - Total expenses rose 11.3% year over year to $1.3 billion, driven by higher net losses and acquisition costs [2] Underwriting Performance - Pre-tax catastrophe and weather-related losses net of reinsurance amounted to $49 million, including $32 million from California Wildfires, compared to $20 million in the prior year [3] - Underwriting income increased 12.2% year over year to $163.4 million, although it fell short of estimates [3] - The combined ratio improved by 90 basis points to 90.2 [3] Segment Results - In the Insurance segment, gross premiums written improved 5.2% year over year to $1.6 billion, with net premiums earned increasing 10% to $1 billion [4] - Underwriting income in the Insurance segment climbed 9.4% year over year to $134.5 million, with a slight deterioration in the combined ratio [5] - In the Reinsurance segment, gross premiums written rose 5.4% year over year to $1.1 billion, while net premiums earned declined 2.8% to $330.7 million [6][7] Financial Update - AXIS Capital ended the quarter with cash and cash equivalents of $2.76 billion, a 28.6% increase from the end of 2024 [8] - Debts stood at $1.3 billion, reflecting a marginal increase of 0.02% from the previous year [8] - Book value per share grew 1.9% to $66.48, driven by net income and unrealized investment gains [8] Capital Deployment - The board approved a new share repurchase program for up to $400 million, with $160 million remaining under the previous authorization as of March 31, 2024 [10] Zacks Rank - AXIS Capital currently holds a Zacks Rank 2 (Buy), indicating a favorable outlook [11]