Property and specialty carriers led the quarter, while life and health results split between strong investment gains and persistent underwriting pressure.
Palomar Holdings, Inc., the La Jolla, California-based specialty insurer active across earthquake, casualty, and crop lines, delivered gross written premiums of $767 million for the third quarter of 2026, up 28.4% year-over-year. Net income rose 27% to $65.3 million, or $2.42 per diluted share, while adjusted net income climbed 47.4% to $81.3 million, or $3.01 per diluted share.
The combined ratio was 80.8%, up from 78.1% a year earlier, with catastrophe losses of $4.5 million, including hurricane and flood events in Hawaii and flooding in the Midwest, contributing 1.2 points to the loss ratio. Surety and credit was the fastest-growing product line in the quarter, with gross written premiums up 228% year-over-year, reflecting the January 2026 acquisition of The Gray Casualty and Surety Company. Palomar raised its full-year 2026 adjusted net income guidance to $280 million to $285 million.
Safety Insurance Group, Inc. posted third-quarter net income of $30 million, or $2.05 per diluted share, up from $28.3 million a year earlier. The combined ratio improved to 96.3% from 98.9%, with net earned premiums rising 1% to $293.9 million as prior rate increases continued earning through. Net investment income reached $17.9 million, the highest quarterly figure in the company’s history according to its release, driven by higher yields and strong alternative asset returns.
Direct written premiums fell 4.3% to $319.7 million, partly from the cancellation of underperforming agency relationships and a more competitive market. Shareholders voted to approve the pending $1.54 billion all-cash acquisition by Mapfre S.A. on November 3, with the transaction still awaiting regulatory sign-off.
HCI Group, Inc., the Tampa, Florida-based homeowners insurer, reported pre-tax income of $116 million and net income of $86 million in Q3 2026, up from $91 million and $68 million respectively in the prior-year period. Diluted earnings per share were $6.45, compared to $4.90 a year earlier.
Gross premiums earned increased 5% to $316 million on higher policy volumes, while premiums ceded for reinsurance fell to $97 million from $106 million, a direct result of lower costs under the new 2026-2027 catastrophe reinsurance programs that took effect June 1. The gross loss and loss adjustment expense ratio was 20.7%, an improvement from 22% in Q3 2025. The Tailrow Reciprocal Exchange continues to be the fastest-growing component of the book, with gross written premiums in that entity reaching $35.4 million in the quarter, up from $16 million a year ago.
Primerica, Inc. reported Q3 2026 net income of $209.1 million, up 1% year-over-year, with diluted EPS of $6.76 rising 6%. Total revenues grew 7% to $901.7 million. The investment and savings products (ISP) segment was the standout, with product sales up 19% year-over-year to $4.4 billion, a new record, and client asset values reaching $139.6 billion, up 10%.
Term life results softened. The life-licensed sales force contracted 3% to 147,058 representatives, policies issued fell 7% to 73,813, and issued term life face amount declined 5% to $25.7 billion. The company returned $159 million to shareholders in the quarter through $122 million in repurchases and $37 million in dividends, and declared a $1.20 per share dividend payable December 14.
Root, Inc. posted Q3 2026 revenue of $381 million and net income of $14 million, compared to a net loss of $5 million a year earlier. Adjusted EBITDA was $34 million. The net combined ratio improved 4.9 points year-over-year to 97.2%, while the gross accident period loss ratio of 61.1% came in within the company’s long-term target range of 60% to 65%.
Gross written premiums fell 8% to $358 million, reflecting lower premium per policy and increased competition in the direct channel from other carriers aggressively pursuing growth. Policies in force ended the quarter at 484,000, up 4% year-over-year and roughly flat sequentially.
Genworth Financial, Inc. reported a Q3 2026 net loss of $41 million, or $0.11 per diluted share, driven by the company’s legacy long-term care (LTC) Closed Block. The LTC segment recorded an adjusted operating loss of $146 million for the quarter, deepening from $110 million in Q2 2026 and $96 million in Q3 2025. Lower terminations, unfavorable mortality, and growing benefit utilization continued to weigh on the block as it ages.
Enact, Genworth’s mortgage insurance subsidiary, partially offset those losses with adjusted operating income of $132 million and a PMIERs sufficiency ratio of 158%. Primary new insurance written at Enact declined 7% sequentially to $14.1 billion, reflecting the pressure of elevated mortgage rates on origination volumes.
CEO Tom McInerney, who returned from a temporary medical leave during which CFO Jerome Upton served as interim president and CEO, reaffirmed the company’s strategic priorities for the quarter. McInerney is set to retire effective December 31, 2026, with Upton expected to assume the president and CEO role.
Clover Health Investments, Corp. posted Q3 2026 net income of $6.4 million, an improvement of $31 million from the prior-year loss, bringing year-to-date GAAP net income to $61.8 million. Total revenues rose 53% to $759.3 million, driven by a 45% increase in Medicare Advantage membership to 158,907. The insurance benefits expense ratio (BER) improved to 91.1% from 93.5% a year earlier.
The company raised its full-year 2026 guidance across all metrics, now targeting revenue of $2.97 billion to $3.00 billion and GAAP net income of $25 million to $35 million, which would represent the company’s first full year of GAAP profitability. Clover’s flagship PPO plan, covering approximately 98% of its current membership, received a 5 Star rating for Payment Year 2028.
