Value accretive core - ROIC beat WACC by more than 5pp in 5 of the last 5 fiscal years
ROIC 22.9% vs WACC 9.8% in FY2025 (spread 13.1pp). Average spread 12.1pp over 5 years; lowest 7.1pp.
Analyze insurers through underwriting discipline, float quality, and solvency rather than generic industrial ratios.
Insurance companies run on two engines at once: underwriting profit and investment income earned on float. That makes many standard industrial cash-flow ratios noisy or misleading. The StatsAlpha(TM) insurance framework focuses on premium growth, underwriting margin proxies, ROE, solvency, float quality, peer ranges, and insurer-specific moat signals. It is built for informational analysis, not investment advice.
A quick read on where this framework looks strongest today.
Top slices selected from the strongest data already available for this industry.
Recurring storylines, tone distribution, and representative beats pulled from active companies inside this setup.
ROIC 22.9% vs WACC 9.8% in FY2025 (spread 13.1pp). Average spread 12.1pp over 5 years; lowest 7.1pp.
Revenue growing +20.3% YoY vs OpEx -18.0% - 38.3pp operating leverage (OpMargin: 47.6%)
ROIC 39.4% vs WACC 10.0% in FY2025 (spread 29.4pp). Average spread 26.1pp over 4 years; lowest 23.1pp.
For informational purposes only. Not investment advice.
Metrics that recur most often across stronger operators in this framework.
Insurance (Life, P&C, Reinsurance)
This framework uses all three Trade-Off Ledger axes with industry-specific weights.
Each axis sets a minimum evidence threshold. Higher coverage means the framework needs more supporting signals before the lens is treated as dependable.
Coverage thresholds and enabled metrics across the core trade-off axes.
Median and interquartile range across 137 companies in this framework.
Interquartile ranges show where the middle half of companies cluster, with the median pin marking the center of gravity for each pillar.
Scan the full company universe mapped into the Insurance & Reinsurance framework using live search across company name, ticker, and industry.
| Company | Market Cap | Score | Price | Strongest Pillar |
|---|---|---|---|---|
|
BRK-A
Berkshire Hathaway Inc.
Insurance - Diversified
|
1.19T
|
55.0
Composite
|
$834,641.00
|
Health
59.7
|
|
Insurance - Diversified
|
1.19T
|
53.8
Composite
|
$556.11
|
Health
58.1
|
|
Insurance - Property & Casualty
|
140.98B
|
50.1
Composite
|
$368.98
|
Profitability
59.2
|
|
Insurance - Property & Casualty
|
135.56B
|
51.9
Composite
|
$233.92
|
Profitability
59.2
|
|
Insurance Brokers
|
89.56B
|
61.1
Composite
|
$171.94
|
Profitability
71.5
|
|
Insurance - Property & Casualty
|
81.73B
|
51.2
Composite
|
$398.80
|
Profitability
63.4
|
|
Insurance - Life
|
74.39B
|
47.4
Composite
|
$44.76
|
Valuation
64.4
|
|
Insurance Brokers
|
71.51B
|
49.4
Composite
|
$278.89
|
Valuation
64.4
|
|
AON
Aon plc
Insurance Brokers
|
70.73B
|
53.4
Composite
|
$333.38
|
Valuation
64.7
|
|
Insurance - Property & Casualty
|
66.75B
|
52.1
Composite
|
$263.99
|
Growth
67.5
|
|
MET
MetLife, Inc.
Insurance - Life
|
64.15B
|
45.6
Composite
|
$100.94
|
Valuation
59.7
|
|
Insurance - Life
|
62.46B
|
53.1
Composite
|
$124.59
|
Valuation
73.6
|
|
Insurance - Diversified
|
44.67B
|
44.1
Composite
|
$80.63
|
Health
60.6
|
|
Insurance - Diversified
|
43.09B
|
44.0
Composite
|
$82.40
|
Valuation
57.8
|
|
Insurance - Life
|
41.45B
|
45.3
Composite
|
$20.70
|
Valuation
70.2
|
|
Insurance - Life
|
40.84B
|
43.7
Composite
|
$118.30
|
Valuation
61.0
|
|
Insurance - Life
|
39.96B
|
45.3
Composite
|
$20.26
|
Valuation
70.2
|
|
Insurance - Diversified
|
36.29B
|
46.4
Composite
|
$109.31
|
Efficiency
56.4
|
|
Insurance - Property & Casualty
|
36.24B
|
51.3
Composite
|
$135.52
|
Profitability
60.3
|
|
Insurance - Life
|
31.92B
|
51.4
Composite
|
$25.05
|
Profitability
57.8
|
|
Insurance - Property & Casualty
|
31.64B
|
54.9
Composite
|
$17.90
|
Growth
67.3
|
|
Insurance Brokers
|
30.02B
|
49.0
Composite
|
$325.51
|
Valuation
57.6
|
|
Insurance - Property & Casualty
|
28.21B
|
52.6
Composite
|
$183.78
|
Valuation
60.2
|
|
Insurance - Property & Casualty
|
27.42B
|
44.7
Composite
|
$75.16
|
Valuation
52.7
|
|
Insurance Brokers
|
23.84B
|
55.5
Composite
|
$71.88
|
Profitability
63.3
|
|
Insurance - Property & Casualty
|
23.29B
|
52.4
Composite
|
$1,904.42
|
Profitability
62.6
|
|
Insurance - Property & Casualty
|
22.76B
|
44.2
Composite
|
$111.34
|
Efficiency
51.5
|
|
Insurance - Property & Casualty
|
18.36B
|
50.5
Composite
|
$21.73
|
Profitability
60.9
|
|
Insurance - Reinsurance
|
17.46B
|
47.8
Composite
|
$267.41
|
Growth
63.5
|
|
Insurance - Reinsurance
|
15.47B
|
47.4
Composite
|
$417.72
|
Valuation
61.9
|
|
Insurance - Diversified
|
14.78B
|
34.9
Composite
|
$41.34
|
Efficiency
65.4
|
|
AIZ
Assurant, Inc.
Insurance - Property & Casualty
|
14.66B
|
46.2
Composite
|
$297.23
|
Efficiency
51.5
|
|
UNM
Unum Group
Insurance - Life
|
14.41B
|
48.0
Composite
|
$91.02
|
Valuation
67.8
|
|
Insurance - Reinsurance
|
14.18B
|
51.0
Composite
|
$350.94
|
Profitability
56.1
|
|
Insurance - Property & Casualty
|
12.97B
|
41.8
Composite
|
$47.92
|
Valuation
53.8
|
|
Insurance - Diversified
|
12.93B
|
40.6
Composite
|
$8.22
|
Valuation
50.0
|
|
Insurance - Property & Casualty
|
12.87B
|
48.4
Composite
|
$155.17
|
Valuation
62.0
|
|
Insurance - Life
|
12.28B
|
50.0
Composite
|
$159.79
|
Growth
62.8
|
|
Insurance Brokers
|
12.07B
|
61.2
Composite
|
$273.93
|
Valuation
65.7
|
|
Insurance - Diversified
|
11.87B
|
46.0
Composite
|
$17.91
|
Efficiency
56.4
|
|
Insurance - Specialty
|
11.44B
|
48.5
Composite
|
$45.48
|
Efficiency
76.8
|
|
Insurance - Specialty
|
11.31B
|
48.9
Composite
|
$42.18
|
Efficiency
66.7
|
|
Insurance - Life
|
9.32B
|
45.4
Composite
|
$137.64
|
Efficiency
64.0
|
|
Insurance - Property & Casualty
|
9.24B
|
48.4
Composite
|
$38.93
|
Valuation
57.6
|
|
PRI
Primerica, Inc.
Insurance - Life
|
8.73B
|
57.0
Composite
|
$283.52
|
Growth
63.2
|
|
Insurance - Property & Casualty
|
8.55B
|
56.6
Composite
|
$379.61
|
Profitability
67.8
|
|
Insurance - Property & Casualty
|
8.54B
|
45.7
Composite
|
$248.40
|
Efficiency
51.3
|
|
Insurance - Life
|
7.97B
|
42.3
Composite
|
$41.63
|
Profitability
46.2
|
|
Insurance - Specialty
|
7.65B
|
45.7
Composite
|
$106.60
|
Growth
62.0
|
|
Insurance - Diversified
|
7.58B
|
44.8
Composite
|
$22.47
|
Growth
69.4
|
|
Insurance - Specialty
|
6.75B
|
44.9
Composite
|
$66.16
|
Growth
63.0
|
|
Insurance - Specialty
|
6.62B
|
50.6
Composite
|
$48.15
|
Profitability
54.8
|
|
Insurance - Reinsurance
|
6.57B
|
51.5
Composite
|
$18.91
|
Efficiency
68.2
|
|
RLI
RLI Corp.
Insurance - Property & Casualty
|
6.17B
|
52.6
Composite
|
$67.24
|
Valuation
60.8
|
|
ESNT
Essent Group Ltd.
Insurance - Specialty
|
6.13B
|
48.6
Composite
|
$68.24
|
Profitability
53.4
|
|
Insurance - Property & Casualty
|
5.94B
|
44.4
Composite
|
$100.76
|
Valuation
51.5
|
|
Insurance - Specialty
|
5.94B
|
53.3
Composite
|
$28.94
|
Profitability
56.7
|
|
Insurance - Property & Casualty
|
5.75B
|
48.7
Composite
|
$103.73
|
Growth
57.8
|
|
HGTY
Hagerty, Inc.
Insurance - Property & Casualty
|
5.46B
|
44.2
Composite
|
$15.89
|
Valuation
66.8
|
|
Insurance - Property & Casualty
|
5.46B
|
46.9
Composite
|
$2,317.42
|
Growth
65.1
|
|
Insurance - Life
|
5.36B
|
46.4
Composite
|
$58.49
|
Valuation
59.9
|
|
Insurance - Specialty
|
4.79B
|
46.2
Composite
|
$36.17
|
Efficiency
68.6
|
|
Insurance Brokers
|
4.45B
|
44.4
Composite
|
$31.92
|
Health
58.6
|
|
CRVL
CorVel Corp.
Insurance Brokers
|
4.20B
|
49.6
Composite
|
$83.23
|
Profitability
59.8
|
|
Insurance - Property & Casualty
|
3.82B
|
58.2
Composite
|
$145.02
|
Efficiency
81.3
|
|
Insurance - Reinsurance
|
3.57B
|
49.2
Composite
|
$36.28
|
Profitability
53.5
|
|
Insurance - Life
|
3.40B
|
35.6
Composite
|
$8.99
|
Valuation
46.2
|
|
NMIH
NMI Holdings Inc
Insurance - Specialty
|
3.27B
|
49.0
Composite
|
$43.42
|
Growth
59.4
|
|
LMND
Lemonade, Inc.
Insurance - Property & Casualty
|
3.19B
|
34.9
Composite
|
$41.19
|
Efficiency
48.1
|
|
Insurance - Specialty
|
3.16B
|
45.9
Composite
|
$71.93
|
Valuation
57.2
|
|
SPNT
SiriusPoint Ltd.
Insurance - Reinsurance
|
3.02B
|
42.9
Composite
|
$26.01
|
Efficiency
55.5
|
|
Insurance - Life
|
2.84B
|
40.2
Composite
|
$21.70
|
Efficiency
56.0
|
|
Insurance - Property & Casualty
|
2.71B
|
46.7
Composite
|
$61.13
|
Growth
56.9
|
|
Insurance - Life
|
2.68B
|
42.9
Composite
|
$12.53
|
Growth
68.4
|
|
HCI
HCI Group, Inc.
Insurance - Property & Casualty
|
2.51B
|
56.6
Composite
|
$201.43
|
Profitability
66.1
|
|
Insurance - Life
|
2.50B
|
37.6
Composite
|
$43.55
|
Growth
55.0
|
|
Insurance - Diversified
|
2.14B
|
37.3
Composite
|
$25.07
|
Growth
41.3
|
|
KMPR
Kemper Corporation
Insurance - Property & Casualty
|
2.07B
|
27.1
Composite
|
$35.08
|
Efficiency
44.9
|
|
Insurance - Property & Casualty
|
1.94B
|
46.3
Composite
|
$47.78
|
Efficiency
65.1
|
|
Insurance Brokers
|
1.82B
|
49.6
Composite
|
$51.35
|
Valuation
59.2
|
|
TWFG
TWFG, Inc.
Insurance Brokers
|
1.55B
|
54.2
Composite
|
$28.60
|
Health
57.4
|
|
Insurance - Property & Casualty
|
1.53B
|
44.0
Composite
|
$104.24
|
Valuation
54.0
|
|
Insurance - Property & Casualty
|
1.47B
|
43.1
Composite
|
$57.08
|
Efficiency
51.0
|
|
Insurance - Property & Casualty
|
1.40B
|
47.4
Composite
|
$45.73
|
Health
58.9
|
|
Insurance - Property & Casualty
|
1.36B
|
48.0
Composite
|
$49.03
|
Efficiency
62.1
|
|
TRUP
Trupanion, Inc.
Insurance - Property & Casualty
|
1.35B
|
40.7
Composite
|
$30.75
|
Growth
49.7
|
|
Insurance - Property & Casualty
|
1.29B
|
31.2
Composite
|
$25.00
|
Valuation
36.6
|
|
Insurance - Property & Casualty
|
1.12B
|
51.2
Composite
|
$33.95
|
Efficiency
75.0
|
|
Insurance - Property & Casualty
|
1.06B
|
47.4
Composite
|
$35.94
|
Profitability
61.8
|
|
Insurance - Diversified
|
1.04B
|
49.0
Composite
|
$24.85
|
Valuation
57.6
|
|
HIPO
Hippo Holdings Inc.
Insurance - Property & Casualty
|
950.40M
|
41.7
Composite
|
$35.70
|
Growth
67.9
|
|
Insurance - Specialty
|
809.70M
|
35.1
Composite
|
$46.17
|
Valuation
46.8
|
|
ROOT
Root, Inc.
Insurance - Property & Casualty
|
801.47M
|
42.8
Composite
|
$51.73
|
Growth
51.6
|
|
DGICA
Donegal Group, Inc.
Insurance - Property & Casualty
|
696.00M
|
40.8
Composite
|
$18.75
|
Valuation
52.9
|
|
TIPT
Tiptree Inc.
Insurance - Specialty
|
640.70M
|
41.2
Composite
|
$17.59
|
Growth
49.0
|
|
CRD-B
Crawford & Company
Insurance Brokers
|
605.17M
|
43.7
Composite
|
$12.19
|
Valuation
51.5
|
|
CRD-A
Crawford & Company
Insurance Brokers
|
604.70M
|
43.7
Composite
|
$12.44
|
Valuation
51.6
|
|
DGICB
Donegal Group, Inc.
Insurance - Property & Casualty
|
593.60M
|
40.7
Composite
|
$22.87
|
Valuation
52.2
|
|
Insurance - Specialty
|
515.00M
|
46.6
Composite
|
$272.75
|
Growth
63.4
|
|
Insurance - Property & Casualty
|
508.87M
|
48.2
Composite
|
$10.90
|
Efficiency
73.0
|
|
Insurance - Reinsurance
|
492.60M
|
32.1
Composite
|
$15.09
|
Efficiency
42.5
|
|
AMSF
AMERISAFE, Inc.
Insurance - Specialty
|
383.50M
|
46.7
Composite
|
$20.70
|
Valuation
69.7
|
|
WDH
Waterdrop Inc.
Insurance - Diversified
|
359.30M
|
43.2
Composite
|
$1.00
|
Growth
62.5
|
|
Insurance - Property & Casualty
|
347.70M
|
35.7
Composite
|
$23.75
|
Valuation
45.0
|
|
NODK
NI Holdings, Inc.
Insurance - Property & Casualty
|
308.70M
|
30.8
Composite
|
$15.13
|
Efficiency
51.5
|
|
Insurance - Property & Casualty
|
295.46M
|
49.7
Composite
|
$20.41
|
Profitability
60.8
|
|
Insurance - Specialty
|
234.27M
|
33.8
Composite
|
$5.20
|
Growth
57.4
|
|
MBI
MBIA Inc.
Insurance - Specialty
|
233.70M
|
27.3
Composite
|
$4.58
|
Growth
36.0
|
|
CIA
Citizens, Inc.
Insurance - Life
|
188.40M
|
33.2
Composite
|
$3.72
|
Valuation
51.5
|
|
Insurance - Specialty
|
183.60M
|
36.5
Composite
|
$3.97
|
Valuation
51.9
|
|
AIFU
AIX Inc.
Insurance Brokers
|
156.58M
|
35.0
Composite
|
$9.68
|
Efficiency
58.6
|
|
SLQT
SelectQuote, Inc.
Insurance Brokers
|
70.98M
|
43.2
Composite
|
$0.40
|
Growth
51.3
|
|
Insurance - Diversified
|
39.40M
|
0.0
Composite
|
$18.78
|
No pillar score
-
|
|
Insurance Brokers
|
22.03M
|
39.0
Composite
|
$2.18
|
Growth
48.8
|
|
Insurance - Life
|
21.40M
|
49.4
Composite
|
$1.05
|
Growth
70.8
|
|
EHTH
eHealth, Inc.
Insurance Brokers
|
16.17M
|
32.3
Composite
|
$0.50
|
Efficiency
48.1
|
|
Insurance Brokers
|
6.71M
|
31.0
Composite
|
$0.26
|
Valuation
48.5
|
|
Insurance - Reinsurance
|
6.50M
|
47.4
Composite
|
$0.80
|
Growth
53.4
|
|
GOCO
GoHealth, Inc.
Insurance Brokers
|
6.01M
|
25.6
Composite
|
$0.34
|
Efficiency
60.8
|
|
Insurance Brokers
|
3.70M
|
25.2
Composite
|
$0.16
|
Health
41.5
|
|
Insurance Brokers
|
2.47M
|
45.2
Composite
|
$0.03
|
Efficiency
71.5
|
|
Insurance - Reinsurance
|
584,252
|
49.9
Composite
|
$0.25
|
Valuation
78.1
|
|
Insurance - Life
|
-
|
53.5
Composite
|
$9.56
|
Growth
78.7
|
|
Insurance - Specialty
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Insurance - Diversified
|
-
|
47.2
Composite
|
$14.84
|
Efficiency
56.4
|
|
Insurance - Life
|
-
|
42.1
Composite
|
$10.32
|
Growth
71.3
|
|
Insurance - Life
|
-
|
42.1
Composite
|
$12.76
|
Growth
71.3
|
|
Insurance - Life
|
-
|
42.1
Composite
|
$9.19
|
Growth
71.3
|
|
Insurance - Property & Casualty
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
ESGR
Enstar Group Limited
Insurance - Diversified
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Insurance - Diversified
|
-
|
0.0
Composite
|
$20.48
|
No pillar score
-
|
|
Insurance - Diversified
|
-
|
0.0
Composite
|
$19.21
|
No pillar score
-
|
|
Insurance - Diversified
|
-
|
0.0
Composite
|
$19.50
|
No pillar score
-
|
|
ICCH
ICC Holdings, Inc.
Insurance - Specialty
|
-
|
45.7
Composite
|
-
|
Efficiency
56.2
|
|
Insurance - Reinsurance
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Insurance Brokers
|
-
|
27.7
Composite
|
$0.00
|
Valuation
100.0
|
|
Insurance - Property & Casualty
|
-
|
44.1
Composite
|
$14.90
|
Valuation
54.6
|
Try a broader company name, ticker, sector, or industry keyword.
This framework combines industry-specific diagnostics, moat context, and peer benchmarks so each signal stays grounded in how this business model actually compounds.
We group property and casualty insurers, life insurers, specialty writers, reinsurers, and brokers into one insurance framework because their economics are defined by claims reserves, float management, and capital adequacy. The money-flow layer tracks total revenue, claims and losses, acquisition and administrative costs, underwriting result proxies, investment income on float, and capital returns.
The scoring and trade-off layers emphasize the metrics that matter most for insurers: premium and book-value growth, ROE, operating margin as an underwriting proxy, ROA as a float-quality signal, and solvency through equity-to-assets and leverage. Liquidity ratios and generic debt-to-EBITDA screens are intentionally de-emphasized because they do not describe insurance balance sheets well.
On the moat side, StatsAlpha(TM) looks for evidence of underwriting discipline, pricing power, resilient float investment returns, capital strength, operating efficiency, and diversification. Valuation then follows a residual-income logic similar to other financial institutions, because book value and returns on equity are more informative than a generic revenue-to-FCF model. This framework is for informational purposes only, not investment advice.
Each layer answers a different question: where value is created, what protects it, and how execution compares with the rest of the coverage set.
Benchmarks and narrative cues are meant to clarify what the framework is seeing in the data. They are not investment advice.
Coverage starts with the companies that actually operate inside this business model, so peer comparisons stay relevant instead of generic.
The Insurance & Reinsurance layer isolates the cash-flow mechanics, capital demands, and operating risk that matter most for this industry.
We then layer in Insurance & Reinsurance, pillar ranges, and peer leaders to show what strong execution looks like relative to the broader cohort.