The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products through agents, contact centers, and online. The Protection Services segment provides consumer product protection; protection and insurance products, including vehicle service contracts, guaranteed asset protection, road hazard tire and wheel, and paintless dent repair protection; and roadside assistance, device and mobile data collection services, and analytic solutions using automotive telematics information, as well as identity theft protection and remediation services. This segment also offers its products under various brands, including Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity, Avail, and Allstate Identity Protection. The Allstate Health and Benefits segment provides life, accident, critical illness, short-term disability, and other health insurance products; stop-loss and fully insured group health products to employers; and short-term medical and medicare supplement insurance to individuals. The Run-off Property-Liability segment offers property and casualty insurance coverage that primarily relates to policies written during the 1960s through the mid-1980s. The Corporate and Other segment provides debt services, as well as non-insurance operations. It sells its products through agents, independent agents, call and contact centers, retailers, direct to consumer, wholesale partners, and affinity groups, as well as through online and mobile applications. The Allstate Corporation was founded in 1931 and is headquartered in Northbrook, Illinois.

Allstate Corporation (The)

Assurant, Inc. AIZ is expected to register an improvement in its top and bottom lines when it reports third-quarter 2025 results on Nov. 4, after the closing bell.
The Zacks Consensus Estimate for AIZ’s third-quarter revenues is pegged at $3.16 billion, indicating 5.8% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $4.06 per share. The Zacks Consensus Estimate for AIZ’s third-quarter earnings has moved down 0.2% in the past 30 days. The estimate suggests a year-over-year increase of 35.3%.
What the Zacks Model Unveils for AIZ
Our proven model does not conclusively predict an earnings beat for Assurant this time around. A stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, this is not the case here, as you can see below.
Earnings ESP of AIZ: Assurant has an Earnings ESP of -0.05%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Assurant, Inc. Price and EPS Surprise
Assurant’s Zacks Rank: AIZ carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Shape Q3 Results of AIZ
Solid performance at the Global Housing segment, as well as growth in Global Lifestyle, is likely to have aided the third-quarter performance of Assurant.
Revenues are likely to have gained from improved net earned premiums and higher net investment income.
Net earned premiums are expected to have benefited from higher premiums in the Global Housing and Global Lifestyle segments.
The Zacks Consensus Estimate for third-quarter net earned premiums, fees and other income is pegged at $2.5 billion. We expect net earned premiums to increase 4.6% to $2.5 billion in the to-be-reported quarter. Fees and other income are expected to increase 10.9% to $486.9 million in the third quarter.
Net investment income is expected to have been driven by higher yields and assets in fixed maturity securities. The upside is likely to have been partially offset by reduced income in real estate joint ventures and lower yields and balances in cash and cash equivalents. The Zacks Consensus Estimate for third-quarter net investment income is pegged at $131 million. We expect net investment income to be $125.1 million.
Global Housing is expected to have been driven by Homeowners’ top-line growth, including growth in policies in force and higher average premiums within lender-placed and growth across various specialty products within Homeowners. The Zacks Consensus Estimate for the segment’s third-quarter revenues is pegged at $711 million, suggesting growth of 11.8% from the year-ago quarter’s level. We expect the segment’s revenues to be $703.1 million.
Global Lifestyle is likely to have benefited from Connected Living growth, driven by higher contributions from global mobile protection and trade-in programs and a new program within financial services. Global Automotive results are likely to have benefited from improved loss experience. The Zacks Consensus Estimate and our estimate for the segment’s third-quarter revenues are both pegged at $2.4 billion, suggesting growth of 4.8% from the year-ago quarter’s level. We expect the segment’s revenues to be $2.4 billion.
Total benefits, losses and expenses might have escalated because of higher underwriting and selling, general and administrative expenses. We expect total expenses to be $2.8 billion.
Continued share buybacks are likely to have aided the bottom line in the to-be-reported quarter.
Stocks to Consider
Here are some finance stocks you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat:
The Allstate Corporation ALL has an Earnings ESP of +13.73% and carries a Zacks Rank of 3 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $6.73 per share, implying an increase of 72.1% from the year-ago reported figure.
ALL’s earnings beat estimates in each of the last four quarters.
HCI Group, Inc. HCI has an Earnings ESP of +87.40% and carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $2.35 per share, implying an increase of 400% from the year-ago reported figure.
HCI’s earnings beat estimates in each of the last four quarters.
Berkshire Hathaway Inc. (BRK.B) has an Earnings ESP of +18.72% and carries a Zacks Rank of 3 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $4.70 per share, implying an increase of 0.4% from the year-ago reported figure.
BRK.B’s earnings beat estimates in one of the last four quarters while missing in the other three.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
See This Stock Now for Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Assurant Gears Up to Report Q3 Earnings: Here's What to Expect

Unum Group UNM is expected to register an improvement in its top and bottom lines when it reports third-quarter 2025 results on Nov. 3, after the closing bell.
The Zacks Consensus Estimate for UNM’s third-quarter revenues is pegged at $3.30 billion, indicating 2.4% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.16 per share. The estimate suggests a year-over-year increase of 1.4%.
What the Zacks Model Unveils for UNM
Our proven model does not conclusively predict an earnings beat for Unum Group this time around. A stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) to beat earnings. However, this is not the case here, as you can see below:
Unum Group’s Earnings ESP: UNM has an Earnings ESP of -0.26% at present. This is because the Most Accurate Estimate of $2.15 is pegged lower than the Zacks Consensus Estimate of $2.16. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Unum Group Price and EPS Surprise
Zacks Rank of Unum Group: UNM currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Shape Q3 Results of UNM
Favorable persistency and better sales in the operating segments are likely to have favored premiums in the third quarter. The Zacks Consensus Estimate for premium income is pegged at $2.7 billion. We expect premium income to be $2.7 billion, suggesting a 2.3% increase from the year-ago quarter.
Higher miscellaneous investment income and an increase in the level of invested assets are likely to have supported higher net investment income. Our estimate for miscellaneous investment income is pegged at $531.8 million. The Zacks Consensus Estimate is pegged at $532 million, suggesting a 0.7% increase from the year-ago quarter.
The performance of Unum U.S. and Colonial Life — two of the largest operating segments — is likely to have been driven by higher premium income, favorable persistency, improved benefit experience across life, accident, sickness and disability product lines, favorable recoveries in long-term disability product line, and enhanced stop loss experience.
Better performance in life and group disability is likely to aid Unum U.S. results.
Our estimate for Unum U.S. operating revenues is pegged at $2 billion, while the same for Colonial Life is $485.4 million.
Unum International is expected to have benefited from the expansion of its in-force block, favorable recoveries in its group long-term disability product line, higher premium income, improved benefits experience and increased sales and persistency across both Unum International and Unum U.K. Our estimate for Unum International’s operating revenues is pegged at $291 million.
Expenses are likely to have increased because of higher policy benefits, commissions, interest and debt expense, amortization of deferred acquisition costs, and other expenses. We expect total benefits and expenses to be $2.8 billion.
Continued share buybacks are likely to have contributed to a boost in the bottom line.
Stocks to Consider
Some insurance stocks with the right combination of elements to deliver an earnings beat this time around are:
The Allstate Corporation ALL has an Earnings ESP of +13.73% and carries a Zacks Rank of 3 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $6.73 per share, implying an increase of 72.1% from the year-ago reported figure.
ALL’s earnings beat estimates in each of the last four quarters.
HCI Group, Inc. HCI has an Earnings ESP of +87.40% and carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $2.35 per share, implying an increase of 400% from the year-ago reported figure.
HCI’s earnings beat estimates in each of the last four quarters.
Berkshire Hathaway Inc. (BRK.B) has an Earnings ESP of +18.72% and carries a Zacks Rank of 3 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $4.70 per share, implying an increase of 0.4% from the year-ago reported figure.
BRK.B’s earnings beat estimates in one of the last four quarters while missing in the other three.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
See This Stock Now for Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Unum Group Gears Up to Report Q3 Earnings: Here's What to Expect

Key Points
Despite the pullback, much of Chime Financial's valuation remains built on high expectations about future profitability progress.
Progressive shares recently took a dive due to a one-time event, but there's another issue at hand that may persist.
Upstart Holdings may be at risk of another pullback, if a worsening credit market leads the AI-based lender to walk back growth expectations.
Financial stocks, like the stock market in general, have performed well this year. Investors continue to anticipate positive changes like lower interest rates, and a possible normalization of macro issues like high inflation. However, while many financial stocks have rallied this year, there are a few exceptions.
Namely, shares in companies with industry or company-specific issues. That's the situation with the following three financial stocks: Chime Financial (NASDAQ: CHYM), Progressive (NYSE: PGR), and Upstart Holdings (NASDAQ: UPST).
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
Each one has moved lower since the start of the year, and each one may be at risk of further price declines, both through the rest of 2025, and possibly, into 2026.
Chime Financial could fail to make profitability progress
Chime Financial, a fintech well known for its mobile banking platform, went public back in June. The initial public offering (IPO) was at $27 per share, the stock debuted on the Nasdaq exchange at $43 per share, but in more recent months, shares have experienced a steady slide to lower prices.
Right now, the stock changes hands at around $19 per share. Yet while this pullback may at first seem like an opportunity to buy the dip, keep in mind that expectations about profitability progress may remain high. Estimates call for Chime to reach near-breakeven in 2026, with losses per share going from $4.24 to just $0.28 per share.
However, expectations about future performance represent much of Chime's current $7 billion market cap. Shares could be in for another big de-rating if subsequent results fail to meet expectations.
Progressive may experience a further valuation drop
Progressive shares recently tanked after the company reported lower-than-expected earnings. The main reason for this earnings miss was a one-time event. Insurance regulators in Florida have mandated that the auto insurer issue a rebate to its customers in Florida, due to underwriting profits from 2023 to 2025 that exceeded statutory limits.
However, even as charges related to this will have just a temporary impact on Progressive's bottom line, another issue, increased competitive pressures, may persist. As the sell-side analyst team at Morgan Stanley recently argued in a downgrade of the stock to underweight, increased competition could impact pricing.
In turn, concerns about a decrease in Progressive's economic moat may drive a further drop in valuation. Right now, Progressive trades for around 15 times forward earnings. Compare this to public peers like Allstate, which trades at a forward P/E of less than 10.
Credit market concerns are a key risk for Upstart Holdings
Upstart Holdings shares have sold off lately, mostly because of the recent bankruptcy of Tricolor, a subprime auto lender. Concerns are rising that consumer lending companies, Upstart included, may begin to experience worsening loan performance.
Sure, Upstart isn't a lender, per se. Rather, the company licenses AI-based loan underwriting technology to third-party banks. The company also originates loans for resale into the secondary market. Still, if the consumer lending market worsens, Upstart could experience issues, such as decreased revenue from its lending partners.
Or worse, the company could start finding itself unable to sell originated loans to third parties. Trading for a pricey 39 times forward earnings, if Upstart has to start walking back expectations for future growth and earnings, shares could take another tumble.
Should you invest $1,000 in Upstart right now?
Before you buy stock in Upstart, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Upstart wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,287!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,173,807!*
Now, it’s worth noting Stock Advisor’s total average return is 1,047% — a market-crushing outperformance compared to 195% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 27, 2025
Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Progressive and Upstart. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

These 3 Beaten-Down Financial Stocks Could Have Farther to Fall

Intercontinental Exchange Inc. ICE is expected to register an improvement in its top and bottom lines when it reports third-quarter 2025 results on Oct. 30, before market open.
The Zacks Consensus Estimate for ICE’s third-quarter revenues is pegged at $2.4 billion, indicating 2.7% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $1.62 per share. The Zacks Consensus Estimate for ICE’s third-quarter earnings has moved down 5.8% in the past 30 days. The estimate suggests a year-over-year increase of 4.5%.
What the Zacks Model Unveils for ICE
Our proven model does not conclusively predict an earnings beat for Intercontinental Exchange this time around. This is because the stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) for an earnings beat. This is not the case, as you can see below.
Earnings ESP: Intercontinental Exchange has an Earnings ESP of -0.72%. This is because the Most Accurate Estimate of $1.61 is pegged below the Zacks Consensus Estimate of $1.62. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Intercontinental Exchange Inc. Price and EPS Surprise
Zacks Rank: ICE carries a Zacks Rank #4 (Sell) at present.
Factors Likely to Shape Q3 Results of ICE
Continued strong trends across fixed-income data and analytics and an acceleration in growth in other data and network services businesses are likely to have aided the third-quarter performance of Intercontinental Exchange.
Improved pricing and reference data business, strength in index business growth in ICE Global Network offering, coupled with strength in consolidated feeds, desktop, and derivative analytics revenues, are likely to have favored Fixed Income and Data Services revenues. The Zacks Consensus Estimate for Fixed Income and Data Services revenues is pegged at $612 million, while our estimate is pinned at $616.9 million.
The Exchange segment is likely to have benefited from higher volumes in energy futures and options markets, financial futures and options markets, increased cash equities volume, improved data and connectivity services revenues, as well as listings revenues. The Zacks Consensus Estimate is pinned at $1.9 billion, while our estimate for the same is pegged at $2 billion.
Increased origination technology revenues, closing solutions revenues, MSP mortgage servicing system revenues, and default management revenues are expected to have aided the Mortgage Technology segment’s revenues. The Zacks Consensus Estimate for the segment’s revenues is pegged at $528 million. We expect the metric to be $491.2 million.
Expenses are likely to have increased owing to higher compensation and benefits, professional expenses, acquisition-related transaction costs, and technology and communication costs. We estimate expenses to increase 2.2% to $981.3 million.
For the third quarter of 2025, GAAP operating expenses are expected in the range of $1.45-$1.55 billion. Adjusted operating expenses are projected to be between $999 million and $1.005 billion. Non-operating expense is anticipated to be between $170 million and $175 million.
Continued share buybacks are likely to have added to the upside.
ICE reported a 0.2% increase in third-quarter average daily volume (ADV). Total Commodities ADV was down 2.2% year over year, while Energy ADV decreased 1.6% year over year. Total Financials ADV increased 3.6% in the third quarter.
Stocks to Consider
Here are some finance stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Allstate Corporation ALL has an Earnings ESP of +9.80% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $6.73 per share, indicating a year-over-year increase of 72.1%.
ALL’s earnings beat estimates in each of the last four quarters.
S&P Global SPGI has an Earnings ESP of +1.66% and carries a Zacks Rank of 3 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $4.40 per share, implying an increase of 13.1% from the year-ago reported figure.
SPGI’s earnings beat estimates in each of the last four quarters.
Cboe Global Markets, Inc. CBOE has an Earnings ESP of +3.11% and carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $2.46 per share, implying an increase of 10.8% from the year-ago reported figure.
CBOE’s earnings beat estimates in three of the last four quarters while missing in one.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.
See "2nd Wave" AI stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

What to Expect From Intercontinental Exchange This Earnings Season

Arthur J. Gallagher & Co. AJG is expected to register an improvement in its top and bottom lines when it reports third-quarter 2025 results on Oct. 30, after the closing bell.
The Zacks Consensus Estimate for AJG’s third-quarter revenues is pegged at $3.45 billion, indicating 25.8% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.51 per share. The Zacks Consensus Estimate for AJG’s third-quarter earnings has moved north 2% in the past 30 days. The estimate suggests a year-over-year increase of 11%.
What the Zacks Model Unveils for AJG
Our proven model predicts an earnings beat for Arthur J. Gallagher this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) that increases the chances of an earnings beat.
Earnings ESP: Arthur J. Gallagher has an Earnings ESP of +0.10%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Arthur J. Gallagher & Co. Price and EPS Surprise
Zacks Rank: AJG carries a Zacks Rank #3 at present.
Factors Likely to Shape Q3 Results of AJG
Better performances in both segments are likely to aid AJG’s third-quarter results. New business, solid retention and higher renewal premiums across its business lines are likely to have benefited the third-quarter performance.
The Zacks Consensus Estimate for fees is pegged at $1 billion, indicating an increase of 10.5% from the prior-year period’s reported number. The consensus mark for commissions is pegged at $1.9 billion, implying 27.7% growth from the prior-year period’s reported number.
Excellent client retention, strong new business production, and increases in customer business activity are expected to have benefited the Risk management segment.
Continued strong customer retention, higher new business generation and increasing renewal premiums, an improvement in interest income earned on own and fiduciary funds are expected to have favored the Brokerage segment.
Increased commissions and fees, higher supplemental revenues and improved contingent revenues and investment income, as well as strategic mergers and acquisitions, are likely to have driven the top line in the to-be-reported quarter.
Total expenses are expected to have increased mainly because of higher compensation, reimbursements, interest, amortization and changes in estimated acquisition earnout payables.
Other Stocks to Consider
Here are some other insurance stocks you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat:
Primerica, Inc. PRI has an Earnings ESP of +2.27% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $5.51 per share, indicating a year-over-year decrease of 2.9%.
PRI’s earnings beat estimates in each of the last four reported quarters.
The Allstate Corporation ALL has an Earnings ESP of +9.80% and carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $6.73 per share, implying an increase of 72.1% from the year-ago reported figure.
ALL’s earnings beat estimates in each of the last four quarters.
CNA Financial Corporation. CNA has an Earnings ESP of +6.02% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is $1.25, representing a 15.7% year-over-year increase.
CNA’s earnings beat estimates in three of the last four quarters while missing in one.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.
See "2nd Wave" AI stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is a Beat in the Cards for Arthur J. Gallagher This Earnings Season?

Cboe Global Markets, Inc. CBOE is expected to register an improvement in its top and bottom lines when it reports third-quarter 2025 results on Oct. 31, before the opening bell.
The Zacks Consensus Estimate for CBOE’s third-quarter revenues is pegged at $579.03 million, indicating 8.8% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.46 per share. The Zacks Consensus Estimate for CBOE’s third-quarter earnings has moved up 5.5% in the past 30 days. The estimate suggests a year-over-year increase of 10.8%.
What the Zacks Model Unveils for CBOE
Our proven model predicts an earnings beat for Cboe Global this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) that increases the chances of an earnings beat.
Earnings ESP: Cboe Global has an Earnings ESP of +3.11%. This is because the Most Accurate Estimate of $2.53 is pegged higher than the Zacks Consensus Estimate of $2.46. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Cboe Global Markets, Inc. Price and EPS Surprise
Zacks Rank: CBOE carries a Zacks Rank #2 at present.
Factors Likely to Shape Q3 Results of CBOE
Solid index options growth, higher transaction and clearing fees, access and capacity fees, market data fees and regulatory fees are likely to have aided the third-quarter performance of CBOE.
Higher cash and spot markets and derivatives markets revenues, driven by an increase in transaction and clearing fees, as a result of increased volumes traded on the Cboe options, Cboe U.S. equities, and Cboe European equities exchanges, are expected to have favored the company’s top line in the third quarter.
Cboe Data Vantage revenues are likely to have benefited from strong new subscription and unit sales, pricing changes, ongoing brand investments, and a solid focus on sales outcomes, as well as increases in access and capacity fees and proprietary market data fees.
Higher regulatory fees and transaction and clearing fees are expected to have favored Cash and Spot Markets. Increases in transaction and clearing fees and regulatory fees are likely to have benefited the Derivatives business.
Access and capacity fees are likely to have been aided by increases in logical port fees in the North American Equities, Options, and Europe and Asia Pacific segments, driven by increased customer demand.
Proprietary market data fees are expected to have been aided by increases in proprietary market data fees in the Options and Europe and Asia Pacific segments.
Our estimate for market data revenues is pegged at $79.5 million, while the same for access and capacity fees is pegged at $100.1 million.
An increase in net transaction and clearing fees driven by a rise in index options ADV and multi-listed options ADV is likely to have favored Options’ performance in the to-be-reported quarter.
Net transaction and clearing fees are likely to have benefited from an increase in Cboe European equities matched ADNV, a rise in Global FX ADNV, and growth in Cboe Clear Europe net settlement volumes. A decrease in net transaction and clearing fees in the North American Equities segment is likely to have partially offset the increase.
Cboe Global is likely to have benefited from strong proprietary products, VIX futures, VIX and SPX options. Also, the company expects to witness solid growth in multi-listed options trading.
Continued share buybacks are expected to have aided the bottom line in the to-be-reported quarter.
Other Stocks to Consider
Here are some other finance stocks you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat:
Primerica, Inc. PRI has an Earnings ESP of +2.27% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $5.51 per share, indicating a year-over-year decrease of 2.9%.
PRI beat estimates in each of the last four reported quarters.
The Allstate Corporation ALL has an Earnings ESP of +79.39% and carries a Zacks Rank of 3 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $6.73 per share, implying an increase of 72.1% from the year-ago reported figure.
ALL’s earnings beat estimates in each of the last four quarters.
CNA Financial Corporation. CNA has an Earnings ESP of +6.02% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pinned at $1.25, suggesting a 15.7% year-over-year increase.
CNA’s earnings beat estimates in three of the last four quarters while missing in one.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.
See "2nd Wave" AI stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Will Cboe Global's Beat Streak Continue in This Earnings Season?

Willis Towers Watson Public Limited Company WTW is expected to register an improvement in its bottom line but a decline in the top line when it reports third-quarter 2025 results on Oct. 30, before the opening bell.
The Zacks Consensus Estimate for WTW’s third-quarter revenues is pegged at $2.28 billion, indicating a 0.5% decline from the year-ago reported figure.
The consensus estimate for earnings is pegged at $3.00 per share. The Zacks Consensus Estimate for WTW’s third-quarter earnings has moved north 0.3% in the past 60 days. The estimate suggests a year-over-year increase of 2.3%.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Willis Towers this time around. This is because a stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). This is not the case, as you can see below.
Earnings ESP: Willis Towers has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $3.00. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Willis Towers Watson Public Limited Company Price and EPS Surprise
Zacks Rank: Willis Towers carries a Zacks Rank of 3 at present.
Factors at Play
Revenues in the third quarter are likely to have benefited from strong performances across all the segments.
Increases outside of North America and solid performance in North America, strong new business and focus on client retention, along with the ongoing appeal of the Global Benefits Management solution, are likely to have aided the Organic revenue growth in Health in the to-be-reported quarter.
Wealth business revenues are likely to have benefited from higher levels of Retirement work globally, growth in the Investments business from new business wins and product launches.
Healthy demand for advisory project work outside of North America, compensation design and employee communication projects, and a net positive increase in compensation committee employment are expected to have favored Career revenues.
Benefits Delivery & Outsourcing segment’s performance is likely to have been aided by growth in outsourcing due to increased project and core administration work in Europe. The upside is likely to be offset by lower commission revenues in the individual marketplace business.
Corporate Risk & Broking is expected to have benefited from strong business generation, expanded market presence, global specialization, recent investment in credit risk solutions, strong client retention, new business generation, and growth across the Global Specialty business in all of the geographies.
Expenses in the third quarter are likely to have increased, attributable to higher incentive costs and salary expense, losses on professional liability claims and higher non-income-related tax expense, increased consulting and compensation costs related to the Transformation program. We expect the metric to be $1.8 billion in the to-be-reported quarter.
Stocks to Consider
Some insurance stocks with the right combination of elements to come up with an earnings beat this time around are:
Primerica, Inc. PRI has an Earnings ESP of +2.27% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $5.51 per share, indicating a year-over-year decrease of 2.9%.
PRI’s earnings beat estimates in each of the last four reported quarters.
The Allstate Corporation ALL has an Earnings ESP of +9.80% and carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is pegged at $6.73 per share, implying an increase of 72.1% from the year-ago reported figure.
ALL’s earnings beat estimates in each of the last four quarters.
CNA Financial Corporation. CNA has an Earnings ESP of +6.02% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2025 earnings is $1.25, representing a 15.7% year-over-year increase.
CNA’s earnings beat estimates in three of the last four quarters while missing in one.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.
See "2nd Wave" AI stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Willis Towers Gears Up to Report Q3 Earnings: Here's What to Expect

For Immediate Release
Chicago, IL – October 27, 2025 – Today, Zacks Equity Research discusses The Travelers Companies TRV, The Allstate Corp. ALL, Cincinnati Financial Corp. CINF, CNA Financial Corp. CNA and Axis Capital Holdings Ltd. AXS.
Industry: P&C Insurance
Link: https://www.zacks.com/commentary/2776672/5-stocks-to-add-to-your-portfolio-from-the-prospering-pc-insurance-industry
The Zacks Property and Casualty Insurance (P&C) industry is likely to benefit from prudent underwriting, exposure growth and accelerated digitalization. Industry players like The Travelers Companies, The Allstate Corp., Cincinnati Financial Corp., CNA Financial Corp. and Axis Capital Holdings Ltd. are poised to grow despite a rise in catastrophic events. Given an active catastrophe environment, the policy renewal rate should accelerate. The increasing adoption of technology and the emergence of insurtech help the industry players function smoothly.
However, insurers are witnessing soft pricing after several years of improved pricing. Also, the Fed in its September FOMC meeting had implemented an interest rate cut and hinted at the possibility of more through the year. Though insurers are direct beneficiaries of an improved rate environment and rate cuts are headwinds, investment income is expected to remain strong, given insurers’ diverse investment portfolio as well as continued growth of private market investments. Also, an investment portfolio skewed toward fixed-income maturities provides some upside. The imposition of tariffs by President Trump, as well as higher inflation, will have an impact on pricing. Nonetheless, an improvement in surplus and accelerated economic activities set the stage for a better M&A environment. Per Fitch Ratings, personal auto is expected to stay strong, and, coupled with better investment results and lower claims, should fuel insurers' performance in 2025.
About the Industry
The Zacks Property and Casualty Insurance industry comprises companies that provide commercial and personal property insurance, and casualty insurance products and services. Such insurance helps to safeguard property in case of any natural or man-made disasters. Some industry players also provide liability coverage. The insurance coverage offered also includes automobiles, professional risk, marine, excess casualty, aviation, personal accident, commercial multi-peril, and professional indemnity and surety. Premiums are the primary source of revenues for these insurers. Better pricing and increased exposure drive premiums. These companies invest a portion of premiums to meet their commitments to policyholders. However, rate cuts by the Fed is a downside.
4 Trends Shaping the Future of the Property and Casualty Insurance Industry
Proper pricing to help navigate claims: Catastrophes remain a major concern for insurers due to the high losses incurred, leading to rate increases to ensure claims payouts. Per Global Insurance Market Index by Marsh, global commercial insurance rates fell 4% in the third quarter, for fifth straight time. The Index noted rate decline were across all regions and most product lines. Fitch Ratings expects strong performance in personal auto insurance, driven by improved investment returns and reduced claims. S&P Global projects that underwriting profits in this segment will stabilize as insurers aim to grow policy volumes while keeping rates steady or slightly reduced. Deloitte estimates gross premiums to grow sixfold to $722 billion by 2030, with China and North America accounting for over two-thirds of the total. Swiss Re predicts premium growth of 5% in 2025 and 4% in 2026.
Catastrophe loss induces volatility in underwriting profits: Catastrophe events drag down profitability of the P&C insurers. The latest report published by CSU states that the 2025 hurricane season may have 16 named storms, including eight hurricanes and three major hurricanes. Swiss Re estimates the combined ratio to be 98.5% in 2025 and deteriorate by another 50 basis points to 99% in 2026. Underwriting profitability is expected to be under pressure, primarily due to soft performance in personal lines, which are expected to witness higher catastrophe losses per Insurance Information Institute and Milliman. Exposure growth, better pricing, prudent underwriting and favorable reserve development will help withstand the blow. Also, frequent occurrences of natural disasters should accelerate the policy renewal rate.
Merger and acquisitions: Consolidation in the property and casualty industry is likely to continue as players look to diversify their operations into new business lines and geography. Buying businesses along the same lines will also continue as players look to gain market share and grow in their niche areas. With a sturdy capital level, the industry is witnessing a number of mergers, acquisitions and consolidations.
Increased adoption of technology: The industry is witnessing increased use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation that expedite business operations and save costs. The industry has also witnessed the emergence of insurtechs or technology-led insurers. The focus of insurtech is mainly on the property and casualty insurance industry. Insurers continue to invest heavily in technology, generative AI in particular, as it is expected to improve basis points, scale and efficiencies. However, the use of technology poses cyber threats.
Zacks Industry Rank Indicates Bright Prospects
The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright prospects in the near term. The Zacks Property and Casualty Insurance industry, which is housed within the broader Zacks Finance sector, currently carries a Zacks Industry Rank #37, which places it in the top 15% of more than 250 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregates. Earnings estimates for 2025 have increased 5% year over year.
Before we present a few property and casualty stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Underperforms Sector and the S&P 500
The Property and Casualty Insurance industry has underperformed its sector and the Zacks S&P 500 composite year to date. The stocks in this industry have collectively risen 6.8% compared with the sector’s increase of 12.5% and the Zacks S&P 500 composite’s increase of 14.9% in the said time frame.
Current Valuation
On the basis of the trailing 12-month price-to-book (P/B), which is commonly used for valuing insurance stocks, the industry is currently trading at 1.53X compared with the S&P 500’s 8.79X and the sector’s 4.23X.
Over the past five years, the industry has traded as high as 1.72X, as low as 1.17X and at the median of 1.42X.
5 Property and Casualty Insurance Stocks to Add
Here, we are discussing one Zacks Rank #1 (Strong Buy) stock and four Zacks Rank #2 (Buy) stocks from the P&C Insurance industry. You can see the complete list of today’s Zacks #1 Rank stocks here.
Travelers Companies: Based in New York, NY, Travelers Companies is one of the leading writers of auto and homeowners’ insurance, plus commercial U.S. property-casualty insurance. High levels of retention, improved pricing, increased new business and a positive renewal premium change, banking on the strength of a compelling product portfolio of coverages across nine lines of business, position it well for growth. Travelers’ commercial businesses should continue to perform well on the back of stability in the markets where it operates, as well as the execution of its strategies. It sports a Zacks Rank #1.
The Zacks Consensus Estimate for TRV’s 2025 and 2026 earnings suggests 12.3% and 7.6% year-over-year growth. The consensus estimate for 2025 and 2026 has moved up 11.3% and 4.7%, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 89.26%. It has a VGM Score of A. The expected long-term earnings growth rate is pegged at 4.6%.
Allstate: Headquartered in Northbrook, IL, Allstate is the third-largest P&C insurer and the largest publicly held personal lines carrier in the United States. Its premiums are poised to improve courtesy of rate increases in auto and home insurance businesses, as well as an enhanced distribution strategy. The company keeps expanding its Protection Services business with strategic acquisitions, which position it for long-term growth. Divestments and cost-cutting measures are expected to enhance the margins of this Zacks Rank #2 insurer.
The Zacks Consensus Estimate for ALL’s 2025 and 2026 earnings suggests 0.1% and 22% year-over-year growth, respectively. The consensus estimate for 2025 and 2026 has moved up 7.7% and 0.1%, respectively, in the past 30 days. The company delivered a four-quarter average earnings surprise of 57.7%. The expected long-term earnings growth rate is pegged at 11.8%, better than the industry average of 7%. It has a VGM Score of A.
Cincinnati Financial: Headquarters in Fairfield, OH, Cincinnati Financial markets property and casualty insurance. Cincinnati Financial continues to grow on better pricing, strong renewal, solid retention and exposure growth and a disciplined expansion of Cincinnati Re, which is making a nice contribution to its overall earnings. The company intends to grow the commercial lines segment through additional agency appointments, expansion of local field presence, enhanced expertise and a robust product catalog. It carries Zacks Rank #2.
The Zacks Consensus Estimate for 2026 earnings suggests 31.1% year-over-year growth. The consensus estimate for 2025 and 2026 earnings has moved 0.9% and 0.6% north, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 41.2%. It has a VGM Score of B. The expected long-term earnings growth rate is pegged at 3.5%, better than the industry average of 6.7%.
Axis Capital: Bermuda-based Axis Capital aims to be a leading specialty underwriter and thus focuses on growth areas, including wholesale insurance and lower middle markets. Lowering risk exposure while concentrating on accident and health, excess and supply property, casualty, credit and surety, and specialty reinsurance lines bodes well for growth. A compelling and diversified product portfolio, underwriting excellence, digital capabilities and solid capital position continue to drive this specialty and global reinsurer. It carries a Zacks Rank #2.
The Zacks Consensus Estimate for 2025 and 2026 bottom line suggests a year-over-year increase of 8.7% and 1.9%, respectively. The expected long-term earnings growth rate is 6.8%. The consensus estimate for 2025 and 2026 has moved 1.6% and 0.9% north, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 13.4%.
CNA Financial: Headquartered in Chicago, IL, CNA Financial offers commercial P&C insurance products, mainly across the United States. It is one of the most versatile property and casualty insurers, maintaining its combined ratio at favorable levels despite a challenging operating environment. A compelling product portfolio, better retention, improved pricing, positive growth in all three operating segments and new business growth poise it well for growth. It carries a Zacks Rank #2.
The Zacks Consensus Estimate for CNA’s 2026 earnings suggests 4.3% year-over-year growth. The expected long-term earnings growth rate is 2.5%. The consensus estimate for 2025 has moved 2.2% and 0.2% north, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 8.78%.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.
See "2nd Wave" AI stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zacks Industry Outlook Highlights Travelers, Allstate, Cincinnati Financial, CNA Financial and Axis Capital

Fintel reports that on October 24, 2025, Wells Fargo maintained coverage of Allstate (NYSE:ALL) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 23.28% Upside
As of September 29, 2025, the average one-year price target for Allstate is $238.23/share. The forecasts range from a low of $199.98 to a high of $288.75. The average price target represents an increase of 23.28% from its latest reported closing price of $193.24 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Allstate is 52,565MM, a decrease of 20.62%. The projected annual non-GAAP EPS is 35.96.
What is the Fund Sentiment?
There are 2,599 funds or institutions reporting positions in Allstate. This is an increase of 25 owner(s) or 0.97% in the last quarter. Average portfolio weight of all funds dedicated to ALL is 0.29%, an increase of 8.36%. Total shares owned by institutions increased in the last three months by 0.59% to 245,327K shares. The put/call ratio of ALL is 0.97, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 15,591K shares representing 5.92% ownership of the company. In its prior filing, the firm reported owning 11,710K shares , representing an increase of 24.89%. The firm increased its portfolio allocation in ALL by 19.01% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,517K shares representing 3.23% ownership of the company. In its prior filing, the firm reported owning 8,380K shares , representing an increase of 1.62%. The firm decreased its portfolio allocation in ALL by 11.84% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 7,517K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 7,364K shares , representing an increase of 2.04%. The firm decreased its portfolio allocation in ALL by 11.83% over the last quarter.
Geode Capital Management holds 6,715K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 6,635K shares , representing an increase of 1.18%. The firm decreased its portfolio allocation in ALL by 12.38% over the last quarter.
Bank Of America holds 6,597K shares representing 2.50% ownership of the company. In its prior filing, the firm reported owning 6,588K shares , representing an increase of 0.13%. The firm decreased its portfolio allocation in ALL by 11.83% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wells Fargo Maintains Allstate (ALL) Equal-Weight Recommendation

The Zacks Property and Casualty Insurance (P&C) industry is likely to benefit from prudent underwriting, exposure growth and accelerated digitalization. Industry players like The Travelers Companies TRV, The Allstate Corporation ALL, Cincinnati Financial Corporation CINF, CNA Financial Corporation CNA and Axis Capital Holdings Limited AXS are poised to grow despite a rise in catastrophic events. Given an active catastrophe environment, the policy renewal rate should accelerate. The increasing adoption of technology and the emergence of insurtech help the industry players function smoothly.
However, insurers are witnessing soft pricing after several years of improved pricing. Also, the Fed in its September FOMC meeting had implemented an interest rate cut and hinted at the possibility of more through the year. Though insurers are direct beneficiaries of an improved rate environment and rate cuts are headwinds, investment income is expected to remain strong, given insurers’ diverse investment portfolio as well as continued growth of private market investments. Also, an investment portfolio skewed toward fixed-income maturities provides some upside. The imposition of tariffs by President Trump, as well as higher inflation, will have an impact on pricing. Nonetheless, an improvement in surplus and accelerated economic activities set the stage for a better M&A environment. Per Fitch Ratings, personal auto is expected to stay strong, and, coupled with better investment results and lower claims, should fuel insurers' performance in 2025.
About the Industry
The Zacks Property and Casualty Insurance industry comprises companies that provide commercial and personal property insurance, and casualty insurance products and services. Such insurance helps to safeguard property in case of any natural or man-made disasters. Some industry players also provide liability coverage. The insurance coverage offered also includes automobiles, professional risk, marine, excess casualty, aviation, personal accident, commercial multi-peril, and professional indemnity and surety. Premiums are the primary source of revenues for these insurers. Better pricing and increased exposure drive premiums. These companies invest a portion of premiums to meet their commitments to policyholders. However, rate cuts by the Fed is a downside.
4 Trends Shaping the Future of the Property and Casualty Insurance Industry
Proper pricing to help navigate claims: Catastrophes remain a major concern for insurers due to the high losses incurred, leading to rate increases to ensure claims payouts. Per Global Insurance Market Index by Marsh, global commercial insurance rates fell 4% in the third quarter, for fifth straight time. The Index noted rate decline were across all regions and most product lines. Fitch Ratings expects strong performance in personal auto insurance, driven by improved investment returns and reduced claims. S&P Global projects that underwriting profits in this segment will stabilize as insurers aim to grow policy volumes while keeping rates steady or slightly reduced. Deloitte estimates gross premiums to grow sixfold to $722 billion by 2030, with China and North America accounting for over two-thirds of the total. Swiss Re predicts premium growth of 5% in 2025 and 4% in 2026.
Catastrophe loss induces volatility in underwriting profits: Catastrophe events drag down profitability of the P&C insurers. The latest report published by CSU states that the 2025 hurricane season may have 16 named storms, including eight hurricanes and three major hurricanes. Swiss Re estimates the combined ratio to be 98.5% in 2025 and deteriorate by another 50 basis points to 99% in 2026. Underwriting profitability is expected to be under pressure, primarily due to soft performance in personal lines, which are expected to witness higher catastrophe losses per Insurance Information Institute and Milliman. Exposure growth, better pricing, prudent underwriting and favorable reserve development will help withstand the blow. Also, frequent occurrences of natural disasters should accelerate the policy renewal rate.
Merger and acquisitions: Consolidation in the property and casualty industry is likely to continue as players look to diversify their operations into new business lines and geography. Buying businesses along the same lines will also continue as players look to gain market share and grow in their niche areas. With a sturdy capital level, the industry is witnessing a number of mergers, acquisitions and consolidations.
Increased adoption of technology: The industry is witnessing increased use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation that expedite business operations and save costs. The industry has also witnessed the emergence of insurtechs or technology-led insurers. The focus of insurtech is mainly on the property and casualty insurance industry. Insurers continue to invest heavily in technology, generative AI in particular, as it is expected to improve basis points, scale and efficiencies. However, the use of technology poses cyber threats.
Zacks Industry Rank Indicates Bright Prospects
The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright prospects in the near term. The Zacks Property and Casualty Insurance industry, which is housed within the broader Zacks Finance sector, currently carries a Zacks Industry Rank #37, which places it in the top 15% of more than 250 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregates. Earnings estimates for 2025 have increased 5% year over year.
Before we present a few property and casualty stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Underperforms Sector and the S&P 500
The Property and Casualty Insurance industry has underperformed its sector and the Zacks S&P 500 composite year to date. The stocks in this industry have collectively risen 6.8% compared with the sector’s increase of 12.5% and the Zacks S&P 500 composite’s increase of 14.9% in the said time frame.
Year-to-Date Price Performance
Current Valuation
On the basis of the trailing 12-month price-to-book (P/B), which is commonly used for valuing insurance stocks, the industry is currently trading at 1.53X compared with the S&P 500’s 8.79X and the sector’s 4.23X.
Over the past five years, the industry has traded as high as 1.72X, as low as 1.17X and at the median of 1.42X.
Price-to-Book (P/B) Ratio (TTM)
Price-to-Book (P/B) Ratio (TTM)
5 Property and Casualty Insurance Stocks to Add
Here, we are discussing one Zacks Rank #1 (Strong Buy) stock and four Zacks Rank #2 (Buy) stocks from the P&C Insurance industry. You can see the complete list of today’s Zacks #1 Rank stocks here.
Travelers Companies: Based in New York, NY, Travelers Companies is one of the leading writers of auto and homeowners’ insurance, plus commercial U.S. property-casualty insurance. High levels of retention, improved pricing, increased new business and a positive renewal premium change, banking on the strength of a compelling product portfolio of coverages across nine lines of business, position it well for growth. Travelers’ commercial businesses should continue to perform well on the back of stability in the markets where it operates, as well as the execution of its strategies. It sports a Zacks Rank #1.
The Zacks Consensus Estimate for TRV’s 2025 and 2026 earnings suggests 12.3% and 7.6% year-over-year growth. The consensus estimate for 2025 and 2026 has moved up 11.3% and 4.7%, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 89.26%. It has a VGM Score of A. The expected long-term earnings growth rate is pegged at 4.6%.
Price and Consensus: TRV
Allstate: Headquartered in Northbrook, IL, Allstate is the third-largest P&C insurer and the largest publicly held personal lines carrier in the United States. Its premiums are poised to improve courtesy of rate increases in auto and home insurance businesses, as well as an enhanced distribution strategy. The company keeps expanding its Protection Services business with strategic acquisitions, which position it for long-term growth. Divestments and cost-cutting measures are expected to enhance the margins of this Zacks Rank #2 insurer.
The Zacks Consensus Estimate for ALL’s 2025 and 2026 earnings suggests 0.1% and 22% year-over-year growth, respectively. The consensus estimate for 2025 and 2026 has moved up 7.7% and 0.1%, respectively, in the past 30 days. The company delivered a four-quarter average earnings surprise of 57.7%. The expected long-term earnings growth rate is pegged at 11.8%, better than the industry average of 7%. It has a VGM Score of A.
Price and Consensus: ALL
Cincinnati Financial: Headquarters in Fairfield, OH, Cincinnati Financial markets property and casualty insurance. Cincinnati Financial continues to grow on better pricing, strong renewal, solid retention and exposure growth and a disciplined expansion of Cincinnati Re, which is making a nice contribution to its overall earnings. The company intends to grow the commercial lines segment through additional agency appointments, expansion of local field presence, enhanced expertise and a robust product catalog. It carries Zacks Rank #2.
The Zacks Consensus Estimate for 2026 earnings suggests 31.1% year-over-year growth. The consensus estimate for 2025 and 2026 earnings has moved 0.9% and 0.6% north, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 41.2%. It has a VGM Score of B. The expected long-term earnings growth rate is pegged at 3.5%, better than the industry average of 6.7%.
Price and Consensus: CINF
Axis Capital: Bermuda-based Axis Capital aims to be a leading specialty underwriter and thus focuses on growth areas, including wholesale insurance and lower middle markets. Lowering risk exposure while concentrating on accident and health, excess and supply property, casualty, credit and surety, and specialty reinsurance lines bodes well for growth. A compelling and diversified product portfolio, underwriting excellence, digital capabilities and solid capital position continue to drive this specialty and global reinsurer. It carries a Zacks Rank #2.
The Zacks Consensus Estimate for 2025 and 2026 bottom line suggests a year-over-year increase of 8.7% and 1.9%, respectively. The expected long-term earnings growth rate is 6.8%. The consensus estimate for 2025 and 2026 has moved 1.6% and 0.9% north, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 13.4%.
Price and Consensus: AXS
CNA Financial: Headquartered in Chicago, IL, CNA Financial offers commercial P&C insurance products, mainly across the United States. It is one of the most versatile property and casualty insurers, maintaining its combined ratio at favorable levels despite a challenging operating environment. A compelling product portfolio, better retention, improved pricing, positive growth in all three operating segments and new business growth poise it well for growth. It carries a Zacks Rank #2.
The Zacks Consensus Estimate for CNA’s 2026 earnings suggests 4.3% year-over-year growth. The expected long-term earnings growth rate is 2.5%. The consensus estimate for 2025 has moved 2.2% and 0.2% north, respectively, in the past 30 days. It delivered a four-quarter average earnings surprise of 8.78%.
Price and Consensus: CNA
Zacks Names #1 Semiconductor Stock
This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.
See This Stock Now for Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Allstate Corporation (The)

Sign up and unlock all the capabilities of the AI-screener