Fire, Marine & Casualty Insurance stocks: intrinsic value, ROIC & growth
60 U.S. fire, marine & casualty insurance companies with at least three years of SEC filings, ranked by size. 43 of the 47 with a current price trade below their Graham intrinsic value. The median company earned a 8.3% average return on invested capital and grew revenue 7.4% a year.
Updated October 18, 2026
60companies
43below Graham value
8.3%median 10-yr ROIC
7.4%median revenue CAGR
Most undervalued fire, marine & casualty insurance stocks
| Ticker | Company | Upside | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| ACGL | Arch Capital Group | +280% | $101.27 | $385.30 | 74% below | $38.1B | 14.8% | 18.1% |
| HIG | Hartford (The) | +227% | $135.12 | $442.43 | 69% below | $38.7B | 8.3% | -24.2% |
| EG | Everest Group | +223% | $389.10 | $1,255.55 | 69% below | $16.2B | 10.1% | 13.1% |
| MCY | MERCURY GENERAL CORP | +216% | $102.80 | $324.52 | 68% below | $5.7B | 9.8% | -40.6% |
| KMPB | KEMPER Corp | +206% | $24.82 | $76.06 | 67% below | $1.6B | 3.3% | 7.4% |
| MKL | MARKEL GROUP INC. | +204% | $1,850.13 | $5,620.76 | 67% below | $23.4B | 10.2% | 31.6% |
| CINF | Cincinnati Financial | +194% | $171.25 | $503.88 | 66% below | $27.0B | 13.1% | 9.8% |
| PGR | Progressive Corporation | +192% | $218.49 | $638.74 | 66% below | $128.5B | 25.9% | 15.8% |
| UVE | UNIVERSAL INSURANCE HOLDINGS, INC. | +184% | $47.12 | $133.59 | 65% below | $1.4B | 53.2% | 9.9% |
| AXS | AXIS CAPITAL HOLDINGS LTD | +162% | $99.63 | $261.05 | 62% below | $7.9B | 6.5% | 5.6% |
Highest-ROIC fire, marine & casualty insurance stocks
| Ticker | Company | 10-yr ROIC | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| UVE | UNIVERSAL INSURANCE HOLDINGS, INC. | 53.2% | $47.12 | $133.59 | 65% below | $1.4B | 53.2% | 9.9% |
| PGR | Progressive Corporation | 25.9% | $218.49 | $638.74 | 66% below | $128.5B | 25.9% | 15.8% |
| PLMR | Palomar Holdings, Inc. | 23.6% | $139.59 | $238.16 | 41% below | $3.8B | 23.6% | 40.0% |
| KNSL | Kinsale Capital Group, Inc. | 20.4% | $365.24 | $719.12 | 49% below | $8.5B | 20.4% | 33.2% |
| RLI | RLI CORP | 18.8% | $61.07 | $141.16 | 57% below | $5.6B | 18.8% | 9.7% |
| AMSF | AMERISAFE INC | 17.7% | $25.25 | — | — | $481.8M | 17.7% | -2.5% |
| AFG | AMERICAN FINANCIAL GROUP INC | 16.6% | $149.13 | $136.53 | 9% above | $12.5B | 16.6% | 2.6% |
| WRB | W. R. Berkley Corporation | 15.2% | $75.42 | $147.81 | 49% below | $30.2B | 15.2% | -25.3% |
| ACGL | Arch Capital Group | 14.8% | $101.27 | $385.30 | 74% below | $38.1B | 14.8% | 18.1% |
| TRV | Travelers Companies (The) | 13.2% | $389.54 | $579.79 | 33% below | $88.7B | 13.2% | 6.5% |
All fire, marine & casualty insurance stocks
| Ticker | Company | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|
| CB | Chubb Limited | $359.79 | $542.80 | 34% below | $144.5B | 8.9% | 7.3% |
| PGR | Progressive Corporation | $218.49 | $638.74 | 66% below | $128.5B | 25.9% | 15.8% |
| TRV | Travelers Companies (The) | $389.54 | $579.79 | 33% below | $88.7B | 13.2% | 6.5% |
| ALL | Allstate | $247.88 | $1,264.19 | 80% below | $66.2B | 10.7% | 7.1% |
| AIG | American International Group | $80.74 | $99.88 | 19% below | $46.1B | 2.3% | -7.2% |
| HIG | Hartford (The) | $135.12 | $442.43 | 69% below | $38.7B | 8.3% | -24.2% |
| ACGL | Arch Capital Group | $101.27 | $385.30 | 74% below | $38.1B | 14.8% | 18.1% |
| WRB | W. R. Berkley Corporation | $75.42 | $147.81 | 49% below | $30.2B | 15.2% | -25.3% |
| CINF | Cincinnati Financial | $171.25 | $503.88 | 66% below | $27.0B | 13.1% | 9.8% |
| MKL | MARKEL GROUP INC. | $1,850.13 | $5,620.76 | 67% below | $23.4B | 10.2% | 31.6% |
| L | Loews Corporation | $110.52 | $168.46 | 34% below | $23.1B | 3.6% | -1.3% |
| RNR | RENAISSANCERE HOLDINGS LTD | $351.06 | $1,861.07 | 81% below | $16.3B | 9.2% | 25.0% |
| EG | Everest Group | $389.10 | $1,255.55 | 69% below | $16.2B | 10.1% | 13.1% |
| CNA | CENTRICA PLC | $47.90 | $70.41 | 32% below | $13.0B | 7.2% | 17.8% |
| AFG | AMERICAN FINANCIAL GROUP INC | $149.13 | $136.53 | 9% above | $12.5B | 16.6% | 2.6% |
| THG | HANOVER INSURANCE GROUP, INC. | $232.97 | $603.20 | 61% below | $8.5B | 11.4% | 3.2% |
| KNSL | Kinsale Capital Group, Inc. | $365.24 | $719.12 | 49% below | $8.5B | 20.4% | 33.2% |
| AXS | AXIS CAPITAL HOLDINGS LTD | $99.63 | $261.05 | 62% below | $7.9B | 6.5% | 5.6% |
| MCY | MERCURY GENERAL CORP | $102.80 | $324.52 | 68% below | $5.7B | 9.8% | -40.6% |
| RLI | RLI CORP | $61.07 | $141.16 | 57% below | $5.6B | 18.8% | 9.7% |
| WTM | WHITE MOUNTAINS INSURANCE GROUP LTD | $2,160.31 | $9,091.98 | 76% below | $5.5B | 10.1% | 11.9% |
| SIGI | SELECTIVE INSURANCE GROUP INC | $89.16 | $210.01 | 58% below | $5.4B | 9.1% | 9.9% |
| PLMR | Palomar Holdings, Inc. | $139.59 | $238.16 | 41% below | $3.8B | 23.6% | 40.0% |
| HG | Hamilton Insurance Group, Ltd. | $36.21 | $184.35 | 80% below | $3.8B | 25.7% | 21.5% |
| SLDE | Slide Insurance Holdings, Inc. | $27.07 | $111.60 | 76% below | $3.6B | -1066.8% | 36.5% |
| LMND | Lemonade, Inc. | $44.20 | — | — | $3.3B | -5.1% | 64.6% |
| SPNT | SiriusPoint Ltd | $25.12 | $120.91 | 79% below | $3.1B | 5.8% | 18.6% |
| SKWD | Skyward Specialty Insurance Group, Inc. | $61.23 | $135.19 | 55% below | $2.6B | 12.6% | 32.9% |
| HCI | HCI Group, Inc. | $198.55 | $754.66 | 74% below | $2.6B | -133.1% | 14.6% |
| PRA | PROASSURANCE CORP | — | — | — | — | 1.7% | 2.6% |
| DGICA | DONEGAL GROUP INC | $18.68 | — | — | — | 5.2% | 4.0% |
| DGICB | DONEGAL GROUP INC | $19.09 | — | — | — | 5.2% | 4.0% |
| HMN | HORACE MANN EDUCATORS CORP /DE/ | $46.33 | $79.61 | 42% below | $1.9B | 5.7% | 4.7% |
| KMPR | KEMPER Corp | $29.27 | $76.06 | 62% below | $1.8B | 3.3% | 7.4% |
| KMPB | KEMPER Corp | $24.82 | $76.06 | 67% below | $1.6B | 3.3% | 7.4% |
| SAFT | SAFETY INSURANCE GROUP INC | $104.03 | $108.44 | 4% below | $1.5B | 7.7% | 4.9% |
| UFCS | UNITED FIRE GROUP INC | $56.44 | $94.69 | 40% below | $1.5B | 12.7% | 2.2% |
| UVE | UNIVERSAL INSURANCE HOLDINGS, INC. | $47.12 | $133.59 | 65% below | $1.4B | 53.2% | 9.9% |
| ASIC | Ategrity Specialty Insurance Co Holdings | $27.25 | $52.48 | 48% below | $1.3B | 13.8% | 23.4% |
| EIG | Employers Holdings, Inc. | $51.21 | — | — | $1.2B | 10.2% | 1.1% |
| BOW | Bowhead Specialty Holdings Inc. | $34.19 | $52.81 | 35% below | $1.2B | 14.3% | 43.3% |
| HRTG | Heritage Insurance Holdings, Inc. | $35.77 | $209.92 | 83% below | $1.1B | -242.8% | 7.6% |
| MHNC | Maiden Holdings, Ltd. | $10.55 | — | — | $1.1B | -13.7% | -34.6% |
| HIPO | Hippo Holdings Inc. | $35.28 | $73.74 | 52% below | $917.7M | -18.3% | 55.5% |
| MHLA | Maiden Holdings, Ltd. | $8.93 | — | — | $892.1M | -13.7% | -34.6% |
| ROOT | Root, Inc. | $50.47 | $78.39 | 36% below | $863.0M | 266.3% | 66.2% |
| TIPT | TIPTREE INC. | $16.46 | $7.40 | 122% above | $618.2M | -2.1% | -42.9% |
| ACIC | AMERICAN COASTAL INSURANCE Corp | $11.10 | $71.41 | 84% below | $552.6M | 3029.6% | -4.1% |
| GLRE | GREENLIGHT CAPITAL RE, LTD. | $14.82 | $41.37 | 64% below | $511.3M | -1.1% | 2.4% |
| AMSF | AMERISAFE INC | $25.25 | — | — | $481.8M | 17.7% | -2.5% |
| AII | American Integrity Insurance Group, Inc. | $27.50 | $187.67 | 85% below | $474.0M | -122.4% | 35.3% |
| GBLI | Global Indemnity Group, LLC | $24.25 | — | — | $345.8M | 2.2% | -1.9% |
| NODK | NI Holdings, Inc. | $14.81 | $12.95 | 14% above | $310.9M | 0.1% | 77.1% |
| KFS | KINGSWAY Corp | — | $2.01 | — | — | -0.2% | -2.9% |
| KWY | KINGSWAY Corp | $9.59 | $2.01 | 377% above | $267.2M | -0.4% | -2.9% |
| KINS | KINGSTONE COMPANIES, INC. | $18.69 | $75.04 | 75% below | $264.3M | 6.2% | 12.0% |
| JRVR | James River Group Holdings, Inc. | $3.82 | — | — | $229.3M | -1.0% | 1.8% |
| PRHI | Presurance Holdings, Inc. | $7.91 | — | — | $96.7M | 1213.1% | -8.2% |
| KG | Kestrel Group Ltd | $4.60 | $268.38 | 98% below | $26.4M | -185.9% | 785.1% |
| OXBR | OXBRIDGE RE HOLDINGS Ltd | $1.00 | — | — | $7.4M | -27.0% | -19.9% |
Stock lists
Undervalued Stocks Below Graham Intrinsic Value
Highest ROIC Stocks (10-Year Average)
Highest Free Cash Flow Yield Stocks
Fastest-Growing Stocks by 10-Year Revenue