# Insurance Carriers financial report

Informational only - not investment advice.

SIC major group. Companies: 93. Companies with financial data: 93. Companies with revenue: 91. As of: 2026-03-19.

Mechanical ranking by stated metric from SEC/FRED data; not a recommendation, endorsement, or quality/investment judgment.

- Min-Max range is the distance between the minimum and maximum reported value in this group; small-cap outliers can widen the range.
- ROE can be elevated by a small equity base, including after share repurchases; firms with non-positive equity are excluded, and this table is not a quality ranking.
- Liabilities / equity is a balance-sheet-structure fact using total liabilities divided by stockholders' equity; financial institutions naturally report higher ratios than many non-financial companies.

## Distribution Summary

| Metric | Count | Median | Minimum | Maximum | Min-Max range |
| --- | ---: | ---: | ---: | ---: | ---: |
| Net margin | 91 | 9.09% | -126.62% | 60.84% | 187.46% |
| Operating margin | 20 | 3.84% | -4.44% | 41.82% | 46.26% |
| Revenue growth | 90 | 7.86% | -13.68% | 104.31% | 117.99% |
| Free cash flow | 55 | 412,518,000 | -636,000,000 | 25,042,000,000 | 25,678,000,000 |
| ROE | 92 | 12.12% | -67.59% | 39.88% | 107.46% |
| Liabilities / equity | 92 | 3.05 | 0.29 | 37.25 | 36.96 |

## Highest reported net margin

| Rank | Company | Net margin | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [MTG](/company/MTG/) - MGIC INVESTMENT CORP | 60.84% | 2025 |  |
| 2 | [NMIH](/company/NMIH/) - NMI Holdings, Inc. | 55.05% | 2025 |  |
| 3 | [ESNT](/company/ESNT/) - Essent Group Ltd. | 54.72% | 2025 |  |
| 4 | [RDN](/company/RDN/) - RADIAN GROUP INC | 48.67% | 2025 |  |
| 5 | [AGO](/company/AGO/) - ASSURED GUARANTY LTD | 45.32% | 2025 |  |
| 6 | [SLDE](/company/SLDE/) - Slide Insurance Holdings, Inc. | 38.41% | 2025 |  |
| 7 | [AII](/company/AII/) - American Integrity Insurance Group, Inc. | 36.03% | 2025 |  |
| 8 | [HCI](/company/HCI/) - HCI Group, Inc. | 33.19% | 2025 |  |
| 9 | [ACIC](/company/ACIC/) - AMERICAN COASTAL INSURANCE Corp | 31.85% | 2025 |  |
| 10 | [WTM](/company/WTM/) - WHITE MOUNTAINS INSURANCE GROUP LTD | 29.62% | 2025 |  |

## Lowest reported net margin

| Rank | Company | Net margin | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [MBI](/company/MBI/) - MBIA INC | -126.62% | 2025 |  |
| 2 | [OSG](/company/OSG/) - OCTAVE SPECIALTY GROUP INC | -103.13% | 2025 |  |
| 3 | [LMND](/company/LMND/) - Lemonade, Inc. | -22.43% | 2025 |  |
| 4 | [KWY](/company/KWY/) - KINGSWAY Corp | -7.59% | 2025 |  |
| 5 | [CLOV](/company/CLOV/) - CLOVER HEALTH INVESTMENTS, CORP. /DE | -4.45% | 2025 |  |
| 6 | [OSCR](/company/OSCR/) - Oscar Health, Inc. | -3.79% | 2025 |  |
| 7 | [NODK](/company/NODK/) - NI Holdings, Inc. | -3.65% | 2025 |  |
| 8 | [CNC](/company/CNC/) - CENTENE CORP | -3.43% | 2025 |  |
| 9 | [CRBG](/company/CRBG/) - Corebridge Financial, Inc. | -1.98% | 2025 |  |
| 10 | [ALHC](/company/ALHC/) - Alignment Healthcare, Inc. | -0.02% | 2025 |  |

## Highest reported operating margin

| Rank | Company | Operating margin | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [ACIC](/company/ACIC/) - AMERICAN COASTAL INSURANCE Corp | 41.82% | 2025 |  |
| 2 | [HRTG](/company/HRTG/) - Heritage Insurance Holdings, Inc. | 31.53% | 2025 |  |
| 3 | [MKL](/company/MKL/) - MARKEL GROUP INC. | 20.59% | 2025 |  |
| 4 | [THG](/company/THG/) - HANOVER INSURANCE GROUP, INC. | 14.15% | 2025 |  |
| 5 | [AFG](/company/AFG/) - AMERICAN FINANCIAL GROUP INC | 13.13% | 2025 |  |
| 6 | [VOYA](/company/VOYA/) - Voya Financial, Inc. | 12.68% | 2025 |  |
| 7 | [CNO](/company/CNO/) - CNO Financial Group, Inc. | 12.33% | 2025 |  |
| 8 | [MET](/company/MET/) - METLIFE INC | 7.96% | 2025 |  |
| 9 | [UNH](/company/UNH/) - UNITEDHEALTH GROUP INC | 4.24% | 2025 |  |
| 10 | [ROOT](/company/ROOT/) - Root, Inc. | 4.07% | 2025 |  |

## Lowest reported operating margin

| Rank | Company | Operating margin | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [CLOV](/company/CLOV/) - CLOVER HEALTH INVESTMENTS, CORP. /DE | -4.44% | 2025 |  |
| 2 | [CNC](/company/CNC/) - CENTENE CORP | -3.91% | 2025 |  |
| 3 | [OSCR](/company/OSCR/) - Oscar Health, Inc. | -3.39% | 2025 |  |
| 4 | [KWY](/company/KWY/) - KINGSWAY Corp | -1.78% | 2025 |  |
| 5 | [ALHC](/company/ALHC/) - Alignment Healthcare, Inc. | 0.37% | 2025 |  |
| 6 | [TRUP](/company/TRUP/) - TRUPANION, INC. | 0.96% | 2025 |  |
| 7 | [MOH](/company/MOH/) - MOLINA HEALTHCARE, INC. | 1.72% | 2025 |  |
| 8 | [HUM](/company/HUM/) - HUMANA INC | 2.09% | 2025 |  |
| 9 | [CI](/company/CI/) - Cigna Group | 3.35% | 2025 |  |
| 10 | [ELV](/company/ELV/) - Elevance Health, Inc. | 3.62% | 2025 |  |

## Largest reported revenue growth

| Rank | Company | Revenue growth | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [JXN](/company/JXN/) - Jackson Financial Inc. | 104.31% | 2025 |  |
| 2 | [WTM](/company/WTM/) - WHITE MOUNTAINS INSURANCE GROUP LTD | 66.76% | 2025 |  |
| 3 | [PLMR](/company/PLMR/) - Palomar Holdings, Inc. | 58.16% | 2025 |  |
| 4 | [ALHC](/company/ALHC/) - Alignment Healthcare, Inc. | 46.06% | 2025 |  |
| 5 | [BHF](/company/BHF/) - Brighthouse Financial, Inc. | 43.23% | 2025 |  |
| 6 | [CLOV](/company/CLOV/) - CLOVER HEALTH INVESTMENTS, CORP. /DE | 40.34% | 2025 |  |
| 7 | [LMND](/company/LMND/) - Lemonade, Inc. | 40.15% | 2025 |  |
| 8 | [KINS](/company/KINS/) - KINGSTONE COMPANIES, INC. | 38.50% | 2025 |  |
| 9 | [SLDE](/company/SLDE/) - Slide Insurance Holdings, Inc. | 36.50% | 2025 |  |
| 10 | [AII](/company/AII/) - American Integrity Insurance Group, Inc. | 35.30% | 2025 |  |

## Largest reported free cash flow

| Rank | Company | Free cash flow | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [BRK-B](/company/BRK-B/) - BERKSHIRE HATHAWAY INC | 25,042,000,000 | 2025 |  |
| 2 | [PGR](/company/PGR/) - PROGRESSIVE CORP/OH/ | 17,200,000,000 | 2025 |  |
| 3 | [UNH](/company/UNH/) - UNITEDHEALTH GROUP INC | 16,075,000,000 | 2025 |  |
| 4 | [ALL](/company/ALL/) - ALLSTATE CORP | 9,882,000,000 | 2025 |  |
| 5 | [ACGL](/company/ACGL/) - ARCH CAPITAL GROUP LTD. | 6,128,000,000 | 2025 |  |
| 6 | [HIG](/company/HIG/) - HARTFORD INSURANCE GROUP, INC. | 5,753,000,000 | 2025 |  |
| 7 | [CNC](/company/CNC/) - CENTENE CORP | 4,321,000,000 | 2025 |  |
| 8 | [ELV](/company/ELV/) - Elevance Health, Inc. | 3,174,000,000 | 2025 |  |
| 9 | [CINF](/company/CINF/) - CINCINNATI FINANCIAL CORP | 3,092,000,000 | 2025 |  |
| 10 | [L](/company/L/) - LOEWS CORP | 2,700,000,000 | 2025 |  |

## Highest reported ROE

| Rank | Company | ROE | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [SLDE](/company/SLDE/) - Slide Insurance Holdings, Inc. | 39.88% | 2025 |  |
| 2 | [HRTG](/company/HRTG/) - Heritage Insurance Holdings, Inc. | 38.71% | 2025 |  |
| 3 | [PGR](/company/PGR/) - PROGRESSIVE CORP/OH/ | 37.29% | 2025 |  |
| 4 | [KG](/company/KG/) - Kestrel Group Ltd | 36.42% |  |  |
| 5 | [ACIC](/company/ACIC/) - AMERICAN COASTAL INSURANCE Corp | 33.64% | 2025 |  |
| 6 | [ALL](/company/ALL/) - ALLSTATE CORP | 33.59% | 2025 |  |
| 7 | [KINS](/company/KINS/) - KINGSTONE COMPANIES, INC. | 33.22% | 2025 |  |
| 8 | [UVE](/company/UVE/) - UNIVERSAL INSURANCE HOLDINGS, INC. | 33.20% | 2025 |  |
| 9 | [PRI](/company/PRI/) - Primerica, Inc. | 30.71% | 2025 |  |
| 10 | [HG](/company/HG/) - Hamilton Insurance Group, Ltd. | 29.77% | 2025 |  |

## Highest reported liabilities / equity

| Rank | Company | Liabilities / equity | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [LNC](/company/LNC/) - LINCOLN NATIONAL CORP | 37.25 | 2025 |  |
| 2 | [BHF](/company/BHF/) - Brighthouse Financial, Inc. | 34.72 | 2025 |  |
| 3 | [VOYA](/company/VOYA/) - Voya Financial, Inc. | 34.69 | 2025 |  |
| 4 | [JXN](/company/JXN/) - Jackson Financial Inc. | 34.39 | 2025 |  |
| 5 | [CRBG](/company/CRBG/) - Corebridge Financial, Inc. | 30.27 | 2025 |  |
| 6 | [PFG](/company/PFG/) - PRINCIPAL FINANCIAL GROUP INC | 27.68 | 2025 |  |
| 7 | [MET](/company/MET/) - METLIFE INC | 25.22 | 2025 |  |
| 8 | [PRU](/company/PRU/) - PRUDENTIAL FINANCIAL INC | 22.76 | 2025 |  |
| 9 | [FG](/company/FG/) - F&G Annuities & Life, Inc. | 19.47 | 2025 |  |
| 10 | [CNO](/company/CNO/) - CNO Financial Group, Inc. | 13.70 | 2025 |  |

## Lowest reported liabilities / equity

| Rank | Company | Liabilities / equity | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [MTG](/company/MTG/) - MGIC INVESTMENT CORP | 0.29 | 2025 |  |
| 2 | [ESNT](/company/ESNT/) - Essent Group Ltd. | 0.29 | 2025 |  |
| 3 | [ITIC](/company/ITIC/) - INVESTORS TITLE CO | 0.35 | 2025 |  |
| 4 | [NMIH](/company/NMIH/) - NMI Holdings, Inc. | 0.48 | 2025 |  |
| 5 | [RDN](/company/RDN/) - RADIAN GROUP INC | 0.70 | 2025 |  |
| 6 | [BRK-B](/company/BRK-B/) - BERKSHIRE HATHAWAY INC | 0.70 | 2025 |  |
| 7 | [CLOV](/company/CLOV/) - CLOVER HEALTH INVESTMENTS, CORP. /DE | 0.75 | 2025 |  |
| 8 | [STC](/company/STC/) - STEWART INFORMATION SERVICES CORP | 0.98 | 2025 |  |
| 9 | [NODK](/company/NODK/) - NI Holdings, Inc. | 1.11 | 2025 |  |
| 10 | [WTM](/company/WTM/) - WHITE MOUNTAINS INSURANCE GROUP LTD | 1.12 | 2025 |  |