Multi-Line Insurance Stocks Q2 Earnings Review: Hartford (NYSE:HIG) Shines

Chubb Limited (CB), a global insurer, has seen its stock rise 26% over the past year, outpacing the S&P 500. In 2026, it gained 10.2%, underperforming the index. CB offers a 1.20% dividend yield and has increased payouts for 18 years. Analysts expect 10.7% EPS growth this year. The consensus rating is 'Moderate Buy' with a mean price target of $369.36, suggesting 6.1% upside.

AIG reported Q2 2026 adjusted after-tax income of $1.1 billion, $2.00 per diluted share, up 10% YoY. Net premiums written were $7.5 billion, up 9% on a constant-dollar basis. Underwriting income rose to $686 million and the accident year combined ratio improved to 88.1%. The company also completed its Corebridge divestiture and targeted a general insurance expense ratio below 30% for full-year 2027.

Kemper Corp (KMPR) reported Q2 2026 revenues of $1,092.7 million and a net loss of $464.8 million, driven by a $460 million non-cash goodwill impairment. Adjusted consolidated net operating income was $26.3 million. Specialty P&C income fell on higher CA claim severity and frequency, while Life income rose on higher net investment income. Management discussed rate actions and restructuring.

Several specialty insurers cited higher catastrophe losses tied to the Middle East conflict in their Q2 reports. AIG reported $75M net catastrophe losses and said political violence pricing rose 9%. Beazley’s marine war and political violence losses lifted its segment combined ratio to 103%. Arch Capital, Everest, Hiscox, IGI, and Hamilton also reported Iran-related losses. A.M. Best kept a stable GCC outlook.

American International Group (AIG) reported Q2 General Insurance adjusted pretax income of $1.5B (+4% YoY) and net premiums earned of $6.2B (+5%). Underwriting income rose; catastrophe charges were $210M. AIG returned $904M to shareholders via buybacks and dividends and ended with $9B debt. Management cited underwriting discipline and expects expense ratio below 30% by 2027.

Kemper (NYSE:KMPR) reported Q2 results and discussed credit-loss allowances tied to surplus notes in its reciprocal exchange, including a $21 million pre-tax charge on $36 million of notes. Holding-company liquidity was $766 million and debt-to-capital rose to 28.3%. Personal auto normalized combined ratio was 102% and commercial 93.7%, with California rate actions and restructuring savings over $80 million run-rate.