12 Best Property & Casualty Insurance Stocks to Buy Now

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8. Everest Group Ltd. (NYSE:EG)

Number of Hedge Fund Holders: 34

Everest Group Ltd. (NYSE:EG) is a global insurance and reinsurance company that offers a broad range of property and casualty (P&C) insurance solutions. The company provides comprehensive coverage for both personal and commercial lines, including risks related to property damage, liability, and other specialized needs. With a strong focus on delivering tailored solutions, the company serves a diverse clientele across various industries, helping businesses manage their exposure to risk.

Everest Group Ltd. (NYSE:EG) reported a challenging fourth quarter for 2024, with a net loss of $593 million, primarily due to reserve strengthening in its US casualty lines. For the full year, however, the company demonstrated resilience, achieving $1.3 billion in operating income, a 9% return on equity, and a strong operating cash flow of $5 billion. Despite facing significant losses from the California wildfires, Everest Group Ltd. (NYSE:EG)’s gross written premiums grew 7.2% year-over-year to $4.7 billion in Q4. While the company took substantial actions to strengthen its reserves, including a $1.7 billion reserve addition for the year, it remains optimistic, with a solid 9.2% total shareholder return for 2024.

Alex Scott from Barclays maintains a Buy rating on the stock, with the price target adjusted to $470 from $461.

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