Assurant Q2 EPS Beats Estimates as Rates Stay High
Assurant posted 26% EPS growth in Q2. Five insurers benefit from high reinvestment yields.
Key points
- Assurant Q2 EPS rose 26% to $6.41, leading the sector.
- Hippo Holdings premiums grew 61% to $482 million in Q2.
- Horace Mann raised EPS guidance to $4.60-$4.90 for 2024.
Assurant reported adjusted earnings per share of $6.41 in the second quarter. The figure rose 26% from the prior year period. This performance places it at the top of a curated list.
The Zacks Insurance-Multi line Industry ranks in the top 32% of sectors. Five stocks in this group carry a Strong Buy rating. They trade at forward multiples below 15 times earnings.
Assurant Leads Sector Earnings Growth
Assurant delivered record results with adjusted EBITDA of $479.2 million. The company raised its 2026 outlook following this strong half. Annual sales are now expected to reach $13.92 billion.
Projected earnings per share will increase nearly 13% to over $22. Higher reinvestment yields provide an additional tailwind for profits. This makes the balance sheet resilient to rate shifts.
Hippo Shows Strong Premium Momentum
Hippo Holdings saw gross written premiums surge 61% to $482 million. Net income reached $10 million in the same period. The combined ratio improved four points to 95.8%.
A ratio below 100 indicates underwriting profit for the insurer. This metric confirms improving operational health for the home insurance provider. It signals sustainable growth in the property segment.
Horace Mann Raises Full Year Targets
Horace Mann Educators posted record core earnings of $48.2 million. Revenue rose 8% to $443.5 million in the quarter. The combined ratio improved more than seven points to 89.6%.
Management raised full-year core EPS guidance to $4.60-$4.90. The prior range was $4.20-$4.50. The stock offers an annual dividend yield of roughly 3%.
