From Nasdaq MarketSite: 2024-04-30 09:40:00

First-quarter 2024 earnings for the Finance sector are expected to improve 11.6%, with revenues estimated to rise 3.6%. Factors likely to impact results include better pricing, reinsurance covers, and catastrophe losses weighing on profitability. Insurers such as Aflac, AXIS Capital Holdings, Horace Mann Educators, and Primerica are poised to outperform expectations.

Catastrophes provided impetus to policy renewal rates and improved pricing in the first quarter. Auto premiums likely improved due to increased travel, while a stronger mortgage market favored mortgage insurance premiums. Life insurers focused on protection products, driving solid sales. Investment income, cost-saving technological advancements, and share buybacks enhanced profitability.

Aflac is expected to benefit from growing cancer insurance sales and cost-cutting initiatives, with a 1.9% increase in first-quarter earnings. AXIS Capital Holdings experienced growth in its Insurance segment and benefited from share buybacks, with a 15% increase in earnings expected. Horace Mann Educators and Primerica are also expected to see positive results in the first quarter.



Read more at Nasdaq MarketSite:: 4 Insurers Set to Outperform Estimates This Earnings Season