# Insurance - Reinsurance — company-by-company sector analysis

> Insurance - Reinsurance: Reinsurance Group of America, Incorporated owns the largest revenue base; SiriusPoint Ltd. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Insurance - Reinsurance has outperformed S&P 500 by 18.7% over 52 weeks and 8.9% over 13 weeks. 6 of 6 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 6 beat the sector itself. Reinsurance Group of America, Incorporated leads with income of $24,932 million, based on 5 of 6 comparable companies through Mar 2026.

### Is the Insurance - Reinsurance sector outperforming S&P 500?

Insurance - Reinsurance has outperformed S&P 500 by 18.7% over 52 weeks and 8.9% over 13 weeks. 6 of 6 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 6 beat the sector itself.

### Which Insurance - Reinsurance company is largest by income?

Reinsurance Group of America, Incorporated leads with income of $24,932 million, based on 5 of 6 comparable companies through Mar 2026.

### Which Insurance - Reinsurance company is growing fastest?

SiriusPoint Ltd. has the fastest current income growth at 23%, across 5 of 6 comparable companies.

### Which Insurance - Reinsurance company has the strongest 4-Factor Sector Score?

Hamilton Insurance Group, Ltd. ranks first at 68.4/100 with 76% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Insurance - Reinsurance company has the lowest comparable P/BV-to-ROE?

Hamilton Insurance Group, Ltd. has the lowest comparable P/BV ÷ ROE at 0.13, among 6 of 6 companies that pass the metric’s comparability rules.

### How much history does this Insurance - Reinsurance comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Insurance - Reinsurance has outperformed S&P 500 by 18.7% over the last 52 weeks. Over 13 weeks the gap is a lead of 8.9%. 6 of 6 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Hamilton Insurance Group, Ltd. is the strongest against the sector itself at +7%.

13-week sector return versus NIFTY 500: 8.9%
52-week sector return versus NIFTY 500: 19%
Stocks leading NIFTY: 6/6
Stocks leading sector: 2/6

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 6
Combined market value: ₹52.9K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Hamilton Insurance Group, Ltd. (HG): 68/100 — Favorable setup; evidence 76%
   - Growth & earnings 19.6/35 | Capital efficiency 19.2/25 | Valuation 13.6/20 | Relative strength 16.0/20
   - Exact sum: 19.6 + 19.2 + 13.6 + 16 = 68.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. SiriusPoint Ltd. (SPNT): 62/100 — Mixed-positive evidence; evidence 76%
   - Growth & earnings 27.8/35 | Capital efficiency 10.6/25 | Valuation 8.6/20 | Relative strength 14.5/20
   - Exact sum: 27.8 + 10.6 + 8.6 + 14.5 = 61.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Everest Group, Ltd. (EG): 48/100 — Mixed-negative evidence; evidence 76%
   - Growth & earnings 23.5/35 | Capital efficiency 9.0/25 | Valuation 8.6/20 | Relative strength 6.9/20
   - Exact sum: 23.5 + 9 + 8.6 + 6.9 = 48
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -4.4% and the one-year return is 20.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
4. Greenlight Capital Re, Ltd. (GLRE): 47/100 — Mixed-negative evidence; evidence 70%
   - Growth & earnings 15.0/35 | Capital efficiency 12.3/25 | Valuation 8.6/20 | Relative strength 11.1/20
   - Exact sum: 15 + 12.3 + 8.6 + 11.1 = 47
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5. RenaissanceRe Holdings Ltd. (RNR): 40/100 — Mixed-negative evidence; evidence 60%
   - Growth & earnings 13.2/35 | Capital efficiency 14.2/25 | Valuation 6.6/20 | Relative strength 6.3/20
   - Exact sum: 13.2 + 14.2 + 6.6 + 6.3 = 40.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Reinsurance Group of America, Incorporated (RGA): 36/100 — Mixed-negative evidence; evidence 76%
   - Growth & earnings 16.0/35 | Capital efficiency 5.4/25 | Valuation 3.8/20 | Relative strength 10.9/20
   - Exact sum: 16 + 5.4 + 3.8 + 10.9 = 36.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Income Scale & Growth Durability

What the numbers say: Reinsurance Group of America, Incorporated is the scale leader at $24,932 million, 44.1% ahead of Everest Group, Ltd.. SiriusPoint Ltd.'s growth is 23% from a $3,253 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Reinsurance Group of America, Incorporated is the scale benchmark; SiriusPoint Ltd. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Reinsurance Group of America, Incorporated's growth falls below SiriusPoint Ltd.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Reinsurance Group of America, Incorporated · $24,932 million | 44.1% versus #2 · Everest Group, Ltd. | 7/8 recent comparable periods | 5/6 companies · 106 observations

Definition: For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

### Income — largest
1. Reinsurance Group of America, Incorporated (RGA): ₹24.9K Cr
2. Everest Group, Ltd. (EG): ₹17.3K Cr
3. SiriusPoint Ltd. (SPNT): ₹3.3K Cr
4. Hamilton Insurance Group, Ltd. (HG): ₹2.9K Cr
5. Greenlight Capital Re, Ltd. (GLRE): ₹706 Cr

### Income growth — fastest growers
1. SiriusPoint Ltd. (SPNT): 23%
2. Hamilton Insurance Group, Ltd. (HG): 19%
3. Reinsurance Group of America, Incorporated (RGA): 19%
4. Everest Group, Ltd. (EG): -0.6%
5. Greenlight Capital Re, Ltd. (GLRE): -1.7%

### 20-quarter Income history
- RGA: Sep 2021 ₹4.0K Cr | Dec 2021 ₹4.4K Cr | Mar 2022 ₹3.9K Cr | Jun 2022 ₹3.9K Cr | Sep 2022 ₹4.1K Cr | Dec 2022 ₹4.4K Cr | Mar 2023 ₹4.3K Cr | Jun 2023 ₹4.2K Cr | Sep 2023 ₹5.2K Cr | Dec 2023 ₹5.0K Cr | Mar 2024 ₹6.3K Cr | Jun 2024 ₹4.9K Cr | Sep 2024 ₹5.7K Cr | Dec 2024 ₹5.2K Cr | Mar 2025 ₹5.3K Cr | Jun 2025 ₹5.6K Cr | Sep 2025 ₹6.2K Cr | Dec 2025 ₹6.6K Cr | Mar 2026 ₹6.5K Cr | Jun 2026 —
- EG: Sep 2021 ₹2.9K Cr | Dec 2021 ₹3.1K Cr | Mar 2022 ₹2.9K Cr | Jun 2022 ₹2.8K Cr | Sep 2022 ₹3.1K Cr | Dec 2022 ₹3.3K Cr | Mar 2023 ₹3.3K Cr | Jun 2023 ₹3.7K Cr | Sep 2023 ₹4.0K Cr | Dec 2023 ₹3.7K Cr | Mar 2024 ₹4.1K Cr | Jun 2024 ₹4.2K Cr | Sep 2024 ₹4.3K Cr | Dec 2024 ₹4.6K Cr | Mar 2025 ₹4.3K Cr | Jun 2025 ₹4.5K Cr | Sep 2025 ₹4.3K Cr | Dec 2025 ₹4.4K Cr | Mar 2026 ₹4.1K Cr | Jun 2026 —
- RNR: Sep 2021 ₹1.5K Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹876 Cr | Jun 2022 ₹867 Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹2.0K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹1.8K Cr | Dec 2023 ₹3.2K Cr | Mar 2024 ₹2.6K Cr | Jun 2024 ₹2.8K Cr | Sep 2024 ₹4.0K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹3.5K Cr | Jun 2025 ₹3.2K Cr | Sep 2025 ₹3.2K Cr | Dec 2025 ₹3.0K Cr | Mar 2026 ₹2.2K Cr | Jun 2026 —
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 ₹396 Cr | Dec 2023 ₹495 Cr | Mar 2024 ₹659 Cr | Jun 2024 ₹588 Cr | Sep 2024 ₹513 Cr | Dec 2024 ₹570 Cr | Mar 2025 ₹769 Cr | Jun 2025 ₹741 Cr | Sep 2025 ₹668 Cr | Dec 2025 ₹728 Cr | Mar 2026 ₹759 Cr | Jun 2026 —
- SPNT: Sep 2021 ₹733 Cr | Dec 2021 ₹398 Cr | Mar 2022 ₹361 Cr | Jun 2022 ₹473 Cr | Sep 2022 ₹598 Cr | Dec 2022 ₹674 Cr | Mar 2023 ₹678 Cr | Jun 2023 ₹711 Cr | Sep 2023 ₹703 Cr | Dec 2023 ₹646 Cr | Mar 2024 ₹686 Cr | Jun 2024 ₹743 Cr | Sep 2024 ₹562 Cr | Dec 2024 ₹613 Cr | Mar 2025 ₹727 Cr | Jun 2025 ₹748 Cr | Sep 2025 ₹756 Cr | Dec 2025 ₹974 Cr | Mar 2026 ₹775 Cr | Jun 2026 —
- GLRE: Sep 2021 ₹139 Cr | Dec 2021 ₹163 Cr | Mar 2022 ₹133 Cr | Jun 2022 ₹121 Cr | Sep 2022 ₹127 Cr | Dec 2022 ₹144 Cr | Mar 2023 ₹155 Cr | Jun 2023 ₹190 Cr | Sep 2023 ₹167 Cr | Dec 2023 ₹161 Cr | Mar 2024 ₹191 Cr | Jun 2024 ₹175 Cr | Sep 2024 ₹188 Cr | Dec 2024 ₹142 Cr | Mar 2025 ₹213 Cr | Jun 2025 ₹160 Cr | Sep 2025 ₹146 Cr | Dec 2025 ₹210 Cr | Mar 2026 ₹190 Cr | Jun 2026 —

### 20-quarter Income growth history
- RGA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -5.7% | Sep 2022 0.2% | Dec 2022 -0.3% | Mar 2023 8.5% | Jun 2023 6.5% | Sep 2023 27% | Dec 2023 15% | Mar 2024 49% | Jun 2024 17% | Sep 2024 9.7% | Dec 2024 4.7% | Mar 2025 -17% | Jun 2025 15% | Sep 2025 9.8% | Dec 2025 27% | Mar 2026 23% | Jun 2026 —
- EG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -7.9% | Sep 2022 5.1% | Dec 2022 4.4% | Mar 2023 13% | Jun 2023 29% | Sep 2023 30% | Dec 2023 12% | Mar 2024 26% | Jun 2024 16% | Sep 2024 7.4% | Dec 2024 27% | Mar 2025 3.2% | Jun 2025 6.3% | Sep 2025 0.8% | Dec 2025 -4.6% | Mar 2026 -4.6% | Jun 2026 —
- RNR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -41% | Sep 2022 -17% | Dec 2022 — | Mar 2023 152% | Jun 2023 114% | Sep 2023 43% | Dec 2023 60% | Mar 2024 18% | Jun 2024 53% | Sep 2024 116% | Dec 2024 -29% | Mar 2025 34% | Jun 2025 13% | Sep 2025 -20% | Dec 2025 30% | Mar 2026 -37% | Jun 2026 —
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 30% | Dec 2024 15% | Mar 2025 17% | Jun 2025 26% | Sep 2025 30% | Dec 2025 28% | Mar 2026 -1.3% | Jun 2026 —
- SPNT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -16% | Sep 2022 -18% | Dec 2022 69% | Mar 2023 88% | Jun 2023 50% | Sep 2023 18% | Dec 2023 -4.2% | Mar 2024 1.2% | Jun 2024 4.5% | Sep 2024 -20% | Dec 2024 -5.1% | Mar 2025 6.0% | Jun 2025 0.7% | Sep 2025 35% | Dec 2025 59% | Mar 2026 6.6% | Jun 2026 —
- GLRE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -10% | Sep 2022 -8.6% | Dec 2022 -12% | Mar 2023 17% | Jun 2023 57% | Sep 2023 32% | Dec 2023 12% | Mar 2024 23% | Jun 2024 -7.9% | Sep 2024 13% | Dec 2024 -12% | Mar 2025 12% | Jun 2025 -8.6% | Sep 2025 -22% | Dec 2025 48% | Mar 2026 -11% | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Everest Group, Ltd. leads with $2,034 million of TTM profit, 65.1% above Reinsurance Group of America, Incorporated. Everest Group, Ltd. shows ≥100% on the scoring scale (139.3% uncapped) growth from a $2,034 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Everest Group, Ltd. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Everest Group, Ltd. · $2,034 million | 65.1% versus #2 · Reinsurance Group of America, Incorporated | 3/8 recent comparable periods | 5/6 companies · 106 observations

Definition: Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

### Net profit — largest
1. Everest Group, Ltd. (EG): ₹2.0K Cr
2. Reinsurance Group of America, Incorporated (RGA): ₹1.2K Cr
3. Hamilton Insurance Group, Ltd. (HG): ₹876 Cr
4. SiriusPoint Ltd. (SPNT): ₹556 Cr
5. Greenlight Capital Re, Ltd. (GLRE): ₹86 Cr

### Profit growth — fastest growers
1. Everest Group, Ltd. (EG): 100%
2. SiriusPoint Ltd. (SPNT): 100%
3. Greenlight Capital Re, Ltd. (GLRE): 76%
4. Hamilton Insurance Group, Ltd. (HG): 70%
5. Reinsurance Group of America, Incorporated (RGA): 54%

### 20-quarter Net profit history
- RGA: Sep 2021 ₹-22 Cr | Dec 2021 ₹156 Cr | Mar 2022 ₹197 Cr | Jun 2022 ₹106 Cr | Sep 2022 ₹-75 Cr | Dec 2022 ₹293 Cr | Mar 2023 ₹253 Cr | Jun 2023 ₹207 Cr | Sep 2023 ₹289 Cr | Dec 2023 ₹160 Cr | Mar 2024 ₹212 Cr | Jun 2024 ₹204 Cr | Sep 2024 ₹158 Cr | Dec 2024 ₹150 Cr | Mar 2025 ₹288 Cr | Jun 2025 ₹181 Cr | Sep 2025 ₹255 Cr | Dec 2025 ₹465 Cr | Mar 2026 ₹331 Cr | Jun 2026 —
- EG: Sep 2021 ₹-73 Cr | Dec 2021 ₹431 Cr | Mar 2022 ₹298 Cr | Jun 2022 ₹123 Cr | Sep 2022 ₹-319 Cr | Dec 2022 ₹496 Cr | Mar 2023 ₹365 Cr | Jun 2023 ₹670 Cr | Sep 2023 ₹678 Cr | Dec 2023 ₹804 Cr | Mar 2024 ₹733 Cr | Jun 2024 ₹724 Cr | Sep 2024 ₹509 Cr | Dec 2024 ₹-593 Cr | Mar 2025 ₹210 Cr | Jun 2025 ₹680 Cr | Sep 2025 ₹255 Cr | Dec 2025 ₹446 Cr | Mar 2026 ₹653 Cr | Jun 2026 —
- RNR: Sep 2021 ₹-639 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹-397 Cr | Jun 2022 ₹-267 Cr | Sep 2022 ₹-1.2K Cr | Dec 2022 ₹693 Cr | Mar 2023 ₹840 Cr | Jun 2023 ₹375 Cr | Sep 2023 ₹417 Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹618 Cr | Jun 2024 ₹729 Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹-19 Cr | Mar 2025 ₹-25 Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹516 Cr | Jun 2026 —
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 ₹53 Cr | Dec 2023 ₹133 Cr | Mar 2024 ₹277 Cr | Jun 2024 ₹200 Cr | Sep 2024 ₹61 Cr | Dec 2024 ₹74 Cr | Mar 2025 ₹181 Cr | Jun 2025 ₹268 Cr | Sep 2025 ₹176 Cr | Dec 2025 ₹215 Cr | Mar 2026 ₹217 Cr | Jun 2026 —
- SPNT: Sep 2021 ₹-47 Cr | Dec 2021 ₹-137 Cr | Mar 2022 ₹-213 Cr | Jun 2022 ₹-56 Cr | Sep 2022 ₹-94 Cr | Dec 2022 ₹-23 Cr | Mar 2023 ₹138 Cr | Jun 2023 ₹62 Cr | Sep 2023 ₹64 Cr | Dec 2023 ₹100 Cr | Mar 2024 ₹96 Cr | Jun 2024 ₹115 Cr | Sep 2024 ₹9 Cr | Dec 2024 ₹-17 Cr | Mar 2025 ₹75 Cr | Jun 2025 ₹63 Cr | Sep 2025 ₹91 Cr | Dec 2025 ₹280 Cr | Mar 2026 ₹122 Cr | Jun 2026 —
- GLRE: Sep 2021 ₹-14 Cr | Dec 2021 ₹24 Cr | Mar 2022 ₹-6 Cr | Jun 2022 ₹15 Cr | Sep 2022 ₹-20 Cr | Dec 2022 ₹35 Cr | Mar 2023 ₹6 Cr | Jun 2023 ₹50 Cr | Sep 2023 ₹14 Cr | Dec 2023 ₹18 Cr | Mar 2024 ₹28 Cr | Jun 2024 ₹9 Cr | Sep 2024 ₹37 Cr | Dec 2024 ₹-29 Cr | Mar 2025 ₹32 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹-3 Cr | Dec 2025 ₹52 Cr | Mar 2026 ₹36 Cr | Jun 2026 —

### 20-quarter Profit growth history
- RGA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -69% | Sep 2022 — | Dec 2022 88% | Mar 2023 28% | Jun 2023 95% | Sep 2023 — | Dec 2023 -45% | Mar 2024 -16% | Jun 2024 -1.5% | Sep 2024 -45% | Dec 2024 -6.3% | Mar 2025 36% | Jun 2025 -11% | Sep 2025 61% | Dec 2025 210% | Mar 2026 15% | Jun 2026 —
- EG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -82% | Sep 2022 — | Dec 2022 15% | Mar 2023 22% | Jun 2023 445% | Sep 2023 — | Dec 2023 62% | Mar 2024 101% | Jun 2024 8.1% | Sep 2024 -25% | Dec 2024 -174% | Mar 2025 -71% | Jun 2025 -6.1% | Sep 2025 -50% | Dec 2025 — | Mar 2026 211% | Jun 2026 —
- RNR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -146% | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 187% | Mar 2024 -26% | Jun 2024 94% | Sep 2024 292% | Dec 2024 -101% | Mar 2025 -104% | Jun 2025 60% | Sep 2025 -18% | Dec 2025 — | Mar 2026 — | Jun 2026 —
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 15% | Dec 2024 -44% | Mar 2025 -35% | Jun 2025 34% | Sep 2025 189% | Dec 2025 191% | Mar 2026 20% | Jun 2026 —
- SPNT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -180% | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -30% | Jun 2024 85% | Sep 2024 -86% | Dec 2024 -117% | Mar 2025 -22% | Jun 2025 -45% | Sep 2025 911% | Dec 2025 — | Mar 2026 63% | Jun 2026 —
- GLRE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1,400% | Sep 2022 — | Dec 2022 46% | Mar 2023 — | Jun 2023 233% | Sep 2023 — | Dec 2023 -49% | Mar 2024 367% | Jun 2024 -82% | Sep 2024 164% | Dec 2024 -261% | Mar 2025 14% | Jun 2025 -89% | Sep 2025 -108% | Dec 2025 — | Mar 2026 13% | Jun 2026 —

## Funding Base & Its Composition

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/6 companies · 0 observations

Definition: For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

### Deposits — largest deposit bases

### Borrowings — largest borrowings
1. Everest Group, Ltd. (EG): ₹3.6K Cr

### 20-quarter Deposits history

### 20-quarter Borrowings history
- EG: Sep 2021 ₹1.9K Cr | Dec 2021 ₹3.1K Cr | Mar 2022 ₹3.1K Cr | Jun 2022 ₹3.1K Cr | Sep 2022 ₹3.1K Cr | Dec 2022 ₹3.1K Cr | Mar 2023 ₹3.1K Cr | Jun 2023 ₹3.1K Cr | Sep 2023 ₹3.1K Cr | Dec 2023 ₹3.4K Cr | Mar 2024 ₹3.4K Cr | Jun 2024 ₹3.4K Cr | Sep 2024 ₹3.4K Cr | Dec 2024 ₹3.6K Cr | Mar 2025 ₹3.6K Cr | Jun 2025 ₹3.6K Cr | Sep 2025 ₹3.6K Cr | Dec 2025 ₹3.6K Cr | Mar 2026 ₹3.6K Cr | Jun 2026 —

## Return On Assets

What the numbers say: Hamilton Insurance Group, Ltd. leads roa at 2.4%; Everest Group, Ltd. leads roa change at +0.7 percentage points.

Investor read: Hamilton Insurance Group, Ltd. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

Evidence: Hamilton Insurance Group, Ltd. · 2.4% | 33.3% versus #2 · RenaissanceRe Holdings Ltd. | 2/7 recent comparable periods | 6/6 companies · 107 observations

Definition: ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

### ROA — highest
1. Hamilton Insurance Group, Ltd. (HG): 2.4%
2. RenaissanceRe Holdings Ltd. (RNR): 1.8%
3. Greenlight Capital Re, Ltd. (GLRE): 1.6%
4. Everest Group, Ltd. (EG): 1.1%
5. SiriusPoint Ltd. (SPNT): 1.1%

### ROA change — fastest improvers
1. Everest Group, Ltd. (EG): +0.7 pp
2. SiriusPoint Ltd. (SPNT): +0.4 pp
3. Greenlight Capital Re, Ltd. (GLRE): 0.0 pp
4. Hamilton Insurance Group, Ltd. (HG): 0.0 pp
5. Reinsurance Group of America, Incorporated (RGA): 0.0 pp

### 20-quarter ROA history
- RGA: Sep 2021 0.0% | Dec 2021 0.2% | Mar 2022 0.2% | Jun 2022 0.1% | Sep 2022 -0.1% | Dec 2022 0.3% | Mar 2023 0.3% | Jun 2023 0.2% | Sep 2023 0.3% | Dec 2023 0.2% | Mar 2024 0.2% | Jun 2024 0.2% | Sep 2024 0.2% | Dec 2024 0.1% | Mar 2025 0.2% | Jun 2025 0.1% | Sep 2025 0.2% | Dec 2025 0.3% | Mar 2026 0.2% | Jun 2026 —
- EG: Sep 2021 -0.2% | Dec 2021 1.2% | Mar 2022 0.8% | Jun 2022 0.3% | Sep 2022 -0.9% | Dec 2022 1.3% | Mar 2023 0.9% | Jun 2023 1.6% | Sep 2023 1.6% | Dec 2023 1.8% | Mar 2024 1.6% | Jun 2024 1.5% | Sep 2024 1.0% | Dec 2024 -1.1% | Mar 2025 0.4% | Jun 2025 1.2% | Sep 2025 0.4% | Dec 2025 0.8% | Mar 2026 1.1% | Jun 2026 —
- RNR: Sep 2021 -4.0% | Dec 2021 0.0% | Mar 2022 -1,152% | Jun 2022 -1.5% | Sep 2022 -6.5% | Dec 2022 2.0% | Mar 2023 4.4% | Jun 2023 1.0% | Sep 2023 1.1% | Dec 2023 4.7% | Mar 2024 1.4% | Jun 2024 1.6% | Sep 2024 3.5% | Dec 2024 0.0% | Mar 2025 0.0% | Jun 2025 2.2% | Sep 2025 2.5% | Dec 2025 2.3% | Mar 2026 1.0% | Jun 2026 1.8%
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 1.8% | Dec 2023 8.2% | Mar 2024 7.7% | Jun 2024 5.4% | Sep 2024 0.9% | Dec 2024 1.1% | Mar 2025 2.4% | Jun 2025 3.3% | Sep 2025 2.1% | Dec 2025 2.5% | Mar 2026 2.4% | Jun 2026 —
- SPNT: Sep 2021 -0.7% | Dec 2021 -2.2% | Mar 2022 -2.0% | Jun 2022 -0.8% | Sep 2022 -1.3% | Dec 2022 0.1% | Mar 2023 1.6% | Jun 2023 0.9% | Sep 2023 0.8% | Dec 2023 0.3% | Mar 2024 1.0% | Jun 2024 1.2% | Sep 2024 0.2% | Dec 2024 0.0% | Mar 2025 0.7% | Jun 2025 0.9% | Sep 2025 1.1% | Dec 2025 2.5% | Mar 2026 1.1% | Jun 2026 —
- GLRE: Sep 2021 -1.0% | Dec 2021 1.9% | Mar 2022 -0.4% | Jun 2022 1.0% | Sep 2022 -1.4% | Dec 2022 2.8% | Mar 2023 0.4% | Jun 2023 3.1% | Sep 2023 0.8% | Dec 2023 2.3% | Mar 2024 1.6% | Jun 2024 0.5% | Sep 2024 2.0% | Dec 2024 -1.6% | Mar 2025 1.6% | Jun 2025 0.0% | Sep 2025 -0.2% | Dec 2025 2.5% | Mar 2026 1.6% | Jun 2026 —

### 20-quarter ROA change history
- RGA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.1 pp | Dec 2022 +0.1 pp | Mar 2023 +0.1 pp | Jun 2023 +0.1 pp | Sep 2023 +0.4 pp | Dec 2023 −0.1 pp | Mar 2024 −0.1 pp | Jun 2024 0.0 pp | Sep 2024 −0.1 pp | Dec 2024 −0.1 pp | Mar 2025 0.0 pp | Jun 2025 −0.1 pp | Sep 2025 0.0 pp | Dec 2025 +0.2 pp | Mar 2026 0.0 pp | Jun 2026 —
- EG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.7 pp | Dec 2022 +0.1 pp | Mar 2023 +0.1 pp | Jun 2023 +1.3 pp | Sep 2023 +2.5 pp | Dec 2023 +0.5 pp | Mar 2024 +0.7 pp | Jun 2024 −0.1 pp | Sep 2024 −0.6 pp | Dec 2024 −2.9 pp | Mar 2025 −1.2 pp | Jun 2025 −0.3 pp | Sep 2025 −0.6 pp | Dec 2025 +1.9 pp | Mar 2026 +0.7 pp | Jun 2026 —
- RNR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.5 pp | Dec 2022 +2.0 pp | Mar 2023 +1,156.8 pp | Jun 2023 +2.5 pp | Sep 2023 +7.6 pp | Dec 2023 +2.7 pp | Mar 2024 −3.0 pp | Jun 2024 +0.6 pp | Sep 2024 +2.4 pp | Dec 2024 −4.7 pp | Mar 2025 −1.4 pp | Jun 2025 +0.6 pp | Sep 2025 −1.0 pp | Dec 2025 +2.3 pp | Mar 2026 +1.0 pp | Jun 2026 −0.4 pp
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 −0.9 pp | Dec 2024 −7.1 pp | Mar 2025 −5.3 pp | Jun 2025 −2.1 pp | Sep 2025 +1.2 pp | Dec 2025 +1.4 pp | Mar 2026 0.0 pp | Jun 2026 —
- SPNT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.6 pp | Dec 2022 +2.3 pp | Mar 2023 +3.6 pp | Jun 2023 +1.7 pp | Sep 2023 +2.1 pp | Dec 2023 +0.2 pp | Mar 2024 −0.6 pp | Jun 2024 +0.3 pp | Sep 2024 −0.6 pp | Dec 2024 −0.3 pp | Mar 2025 −0.3 pp | Jun 2025 −0.3 pp | Sep 2025 +0.9 pp | Dec 2025 +2.5 pp | Mar 2026 +0.4 pp | Jun 2026 —
- GLRE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 +0.9 pp | Mar 2023 +0.8 pp | Jun 2023 +2.1 pp | Sep 2023 +2.2 pp | Dec 2023 −0.5 pp | Mar 2024 +1.2 pp | Jun 2024 −2.6 pp | Sep 2024 +1.2 pp | Dec 2024 −3.9 pp | Mar 2025 0.0 pp | Jun 2025 −0.5 pp | Sep 2025 −2.2 pp | Dec 2025 +4.1 pp | Mar 2026 0.0 pp | Jun 2026 —

## ROE — Leaders & Improvers

What the numbers say: Hamilton Insurance Group, Ltd. leads roe at 8.4%; Everest Group, Ltd. leads roe change at +2.9 percentage points.

Investor read: Hamilton Insurance Group, Ltd. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

Evidence: Hamilton Insurance Group, Ltd. · 8.4% | 50% versus #2 · SiriusPoint Ltd. | 3/7 recent comparable periods | 6/6 companies · 107 observations

Definition: ROE shows the return to shareholders, but should be read with asset quality and leverage.

### ROE — highest
1. Hamilton Insurance Group, Ltd. (HG): 8.4%
2. SiriusPoint Ltd. (SPNT): 5.6%
3. RenaissanceRe Holdings Ltd. (RNR): 5.3%
4. Greenlight Capital Re, Ltd. (GLRE): 5.1%
5. Everest Group, Ltd. (EG): 4.4%

### ROE change — fastest improvers
1. Everest Group, Ltd. (EG): +2.9 pp
2. SiriusPoint Ltd. (SPNT): +2.4 pp
3. Hamilton Insurance Group, Ltd. (HG): +0.7 pp
4. Greenlight Capital Re, Ltd. (GLRE): +0.1 pp
5. Reinsurance Group of America, Incorporated (RGA): 0.0 pp

### 20-quarter ROE history
- RGA: Sep 2021 -0.2% | Dec 2021 1.1% | Mar 2022 1.8% | Jun 2022 1.1% | Sep 2022 -0.9% | Dec 2022 2.9% | Mar 2023 3.0% | Jun 2023 3.0% | Sep 2023 4.9% | Dec 2023 2.0% | Mar 2024 2.5% | Jun 2024 2.3% | Sep 2024 1.6% | Dec 2024 1.5% | Mar 2025 2.7% | Jun 2025 1.6% | Sep 2025 2.1% | Dec 2025 3.8% | Mar 2026 2.7% | Jun 2026 —
- EG: Sep 2021 -0.7% | Dec 2021 4.3% | Mar 2022 3.1% | Jun 2022 1.3% | Sep 2022 -3.6% | Dec 2022 5.3% | Mar 2023 3.9% | Jun 2023 6.8% | Sep 2023 7.2% | Dec 2023 7.4% | Mar 2024 6.5% | Jun 2024 5.8% | Sep 2024 3.8% | Dec 2024 -4.4% | Mar 2025 1.5% | Jun 2025 4.7% | Sep 2025 1.7% | Dec 2025 3.0% | Mar 2026 4.4% | Jun 2026 —
- RNR: Sep 2021 -12% | Dec 2021 0.0% | Mar 2022 -3,865% | Jun 2022 -5.3% | Sep 2022 -26% | Dec 2022 6.9% | Mar 2023 15% | Jun 2023 3.2% | Sep 2023 3.7% | Dec 2023 16% | Mar 2024 4.5% | Jun 2024 4.9% | Sep 2024 10% | Dec 2024 -0.1% | Mar 2025 -0.2% | Jun 2025 6.8% | Sep 2025 7.2% | Dec 2025 6.2% | Mar 2026 2.9% | Jun 2026 5.3%
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 5.9% | Dec 2023 13% | Mar 2024 25% | Jun 2024 17% | Sep 2024 2.9% | Dec 2024 3.4% | Mar 2025 7.7% | Jun 2025 11% | Sep 2025 6.9% | Dec 2025 8.3% | Mar 2026 8.4% | Jun 2026 —
- SPNT: Sep 2021 -2.3% | Dec 2021 -6.7% | Mar 2022 -8.7% | Jun 2022 -2.3% | Sep 2022 -4.0% | Dec 2022 -1.0% | Mar 2023 6.1% | Jun 2023 2.8% | Sep 2023 2.9% | Dec 2023 4.3% | Mar 2024 3.9% | Jun 2024 4.6% | Sep 2024 0.4% | Dec 2024 -0.8% | Mar 2025 3.2% | Jun 2025 2.6% | Sep 2025 3.7% | Dec 2025 11% | Mar 2026 5.6% | Jun 2026 —
- GLRE: Sep 2021 -3.2% | Dec 2021 5.2% | Mar 2022 -1.2% | Jun 2022 3.1% | Sep 2022 -4.4% | Dec 2022 7.1% | Mar 2023 1.2% | Jun 2023 9.5% | Sep 2023 2.6% | Dec 2023 3.2% | Mar 2024 4.9% | Jun 2024 1.5% | Sep 2024 5.9% | Dec 2024 -4.8% | Mar 2025 5.0% | Jun 2025 0.2% | Sep 2025 -0.5% | Dec 2025 7.7% | Mar 2026 5.1% | Jun 2026 —

### 20-quarter ROE change history
- RGA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.7 pp | Dec 2022 +1.8 pp | Mar 2023 +1.2 pp | Jun 2023 +1.9 pp | Sep 2023 +5.8 pp | Dec 2023 −0.9 pp | Mar 2024 −0.5 pp | Jun 2024 −0.7 pp | Sep 2024 −3.3 pp | Dec 2024 −0.5 pp | Mar 2025 +0.2 pp | Jun 2025 −0.7 pp | Sep 2025 +0.5 pp | Dec 2025 +2.3 pp | Mar 2026 0.0 pp | Jun 2026 —
- EG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.9 pp | Dec 2022 +1.0 pp | Mar 2023 +0.8 pp | Jun 2023 +5.5 pp | Sep 2023 +10.8 pp | Dec 2023 +2.1 pp | Mar 2024 +2.6 pp | Jun 2024 −1.0 pp | Sep 2024 −3.4 pp | Dec 2024 −11.8 pp | Mar 2025 −5.0 pp | Jun 2025 −1.1 pp | Sep 2025 −2.1 pp | Dec 2025 +7.4 pp | Mar 2026 +2.9 pp | Jun 2026 —
- RNR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −14.4 pp | Dec 2022 +6.9 pp | Mar 2023 +3,879.9 pp | Jun 2023 +8.5 pp | Sep 2023 +29.9 pp | Dec 2023 +8.7 pp | Mar 2024 −10.5 pp | Jun 2024 +1.7 pp | Sep 2024 +6.7 pp | Dec 2024 −15.7 pp | Mar 2025 −4.7 pp | Jun 2025 +1.9 pp | Sep 2025 −3.2 pp | Dec 2025 +6.3 pp | Mar 2026 +3.1 pp | Jun 2026 −1.5 pp
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 −3.0 pp | Dec 2024 −9.6 pp | Mar 2025 −16.8 pp | Jun 2025 −6.5 pp | Sep 2025 +4.0 pp | Dec 2025 +4.9 pp | Mar 2026 +0.7 pp | Jun 2026 —
- SPNT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.7 pp | Dec 2022 +5.7 pp | Mar 2023 +14.8 pp | Jun 2023 +5.1 pp | Sep 2023 +6.9 pp | Dec 2023 +5.3 pp | Mar 2024 −2.2 pp | Jun 2024 +1.8 pp | Sep 2024 −2.5 pp | Dec 2024 −5.1 pp | Mar 2025 −0.7 pp | Jun 2025 −2.0 pp | Sep 2025 +3.3 pp | Dec 2025 +11.9 pp | Mar 2026 +2.4 pp | Jun 2026 —
- GLRE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.2 pp | Dec 2022 +1.9 pp | Mar 2023 +2.4 pp | Jun 2023 +6.4 pp | Sep 2023 +7.0 pp | Dec 2023 −3.9 pp | Mar 2024 +3.7 pp | Jun 2024 −8.0 pp | Sep 2024 +3.3 pp | Dec 2024 −8.0 pp | Mar 2025 +0.1 pp | Jun 2025 −1.3 pp | Sep 2025 −6.4 pp | Dec 2025 +12.5 pp | Mar 2026 +0.1 pp | Jun 2026 —

## Gross NPA — Leaders & Improvers

What the numbers say: There is not enough comparable evidence to name a reliable gross npa leader.

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current gnpa change signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/6 companies · 0 observations

Definition: Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

### Gross NPA — lowest

### GNPA change — fastest improvers

### 20-quarter Gross NPA history

### 20-quarter GNPA change history

## Valuation Against Growth & Quality

What the numbers say: Hamilton Insurance Group, Ltd. has the lowest comparable P/BV ÷ ROE at 0.13×, 13.3% below Greenlight Capital Re, Ltd.. Only 6 of 6 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Hamilton Insurance Group, Ltd. · 0.13× | 13.3% versus #2 · Greenlight Capital Re, Ltd. | 0/8 recent comparable periods | 6/6 companies · 82 observations

Definition: Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.

### P/BV ÷ ROE — lowest return-adjusted price
1. Hamilton Insurance Group, Ltd. (HG): 0.1
2. Greenlight Capital Re, Ltd. (GLRE): 0.2
3. Everest Group, Ltd. (EG): 0.2
4. SiriusPoint Ltd. (SPNT): 0.2
5. RenaissanceRe Holdings Ltd. (RNR): 0.2

### P/BV — lowest P/BV
1. Greenlight Capital Re, Ltd. (GLRE): 0.8
2. Everest Group, Ltd. (EG): 0.9
3. Reinsurance Group of America, Incorporated (RGA): 1.0
4. SiriusPoint Ltd. (SPNT): 1.1
5. Hamilton Insurance Group, Ltd. (HG): 1.1

### 20-quarter P/BV ÷ ROE history
- RGA: Sep 2021 — | Dec 2021 0.5 | Mar 2022 0.4 | Jun 2022 1.2 | Sep 2022 — | Dec 2022 0.5 | Mar 2023 0.4 | Jun 2023 0.4 | Sep 2023 0.2 | Dec 2023 0.6 | Mar 2024 0.5 | Jun 2024 0.6 | Sep 2024 0.8 | Dec 2024 0.9 | Mar 2025 0.4 | Jun 2025 0.7 | Sep 2025 0.5 | Dec 2025 0.3 | Mar 2026 0.4 | Jun 2026 —
- EG: Sep 2021 — | Dec 2021 0.2 | Mar 2022 0.4 | Jun 2022 1.0 | Sep 2022 — | Dec 2022 0.3 | Mar 2023 0.4 | Jun 2023 0.2 | Sep 2023 0.2 | Dec 2023 0.2 | Mar 2024 0.2 | Jun 2024 0.2 | Sep 2024 0.3 | Dec 2024 — | Mar 2025 0.7 | Jun 2025 0.2 | Sep 2025 0.6 | Dec 2025 0.3 | Mar 2026 0.2 | Jun 2026 —
- RNR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.2 | Mar 2023 0.1 | Jun 2023 0.4 | Sep 2023 0.4 | Dec 2023 0.1 | Mar 2024 0.3 | Jun 2024 0.2 | Sep 2024 0.1 | Dec 2024 — | Mar 2025 — | Jun 2025 0.2 | Sep 2025 0.1 | Dec 2025 0.2 | Mar 2026 0.4 | Jun 2026 0.2
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 0.0 | Mar 2024 0.0 | Jun 2024 0.0 | Sep 2024 0.3 | Dec 2024 0.2 | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.1 | Dec 2025 0.1 | Mar 2026 0.1 | Jun 2026 —
- SPNT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.1 | Jun 2023 0.2 | Sep 2023 0.3 | Dec 2023 0.2 | Mar 2024 0.2 | Jun 2024 0.2 | Sep 2024 2.2 | Dec 2024 — | Mar 2025 0.4 | Jun 2025 0.4 | Sep 2025 0.3 | Dec 2025 0.1 | Mar 2026 0.2 | Jun 2026 —
- GLRE: Sep 2021 — | Dec 2021 0.1 | Mar 2022 — | Jun 2022 0.2 | Sep 2022 — | Dec 2022 0.1 | Mar 2023 0.5 | Jun 2023 0.1 | Sep 2023 0.3 | Dec 2023 0.2 | Mar 2024 0.1 | Jun 2024 0.5 | Sep 2024 0.1 | Dec 2024 — | Mar 2025 0.1 | Jun 2025 3.7 | Sep 2025 — | Dec 2025 0.1 | Mar 2026 0.2 | Jun 2026 —

### 20-quarter P/BV history
- RGA: Sep 2021 0.6 | Dec 2021 0.6 | Mar 2022 0.8 | Jun 2022 1.4 | Sep 2022 2.3 | Dec 2022 1.3 | Mar 2023 1.2 | Jun 2023 1.2 | Sep 2023 1.2 | Dec 2023 1.2 | Mar 2024 1.3 | Jun 2024 1.4 | Sep 2024 1.3 | Dec 2024 1.3 | Mar 2025 1.1 | Jun 2025 1.1 | Sep 2025 1.0 | Dec 2025 1.0 | Mar 2026 1.0 | Jun 2026 —
- EG: Sep 2021 1.0 | Dec 2021 1.1 | Mar 2022 1.2 | Jun 2022 1.3 | Sep 2022 1.3 | Dec 2022 1.5 | Mar 2023 1.6 | Jun 2023 1.4 | Sep 2023 1.4 | Dec 2023 1.2 | Mar 2024 1.3 | Jun 2024 1.2 | Sep 2024 1.1 | Dec 2024 1.1 | Mar 2025 1.1 | Jun 2025 1.0 | Sep 2025 1.0 | Dec 2025 0.9 | Mar 2026 0.9 | Jun 2026 —
- RNR: Sep 2021 961.2 | Dec 2021 1.1 | Mar 2022 1,145.2 | Jun 2022 1.2 | Sep 2022 1.3 | Dec 2022 1.5 | Mar 2023 1.5 | Jun 2023 1.3 | Sep 2023 1.3 | Dec 2023 1.1 | Mar 2024 1.3 | Jun 2024 1.2 | Sep 2024 1.3 | Dec 2024 1.2 | Mar 2025 1.1 | Jun 2025 1.1 | Sep 2025 1.0 | Dec 2025 1.1 | Mar 2026 1.1 | Jun 2026 1.1
- HG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 0.4 | Mar 2024 0.4 | Jun 2024 0.8 | Sep 2024 0.9 | Dec 2024 0.5 | Mar 2025 0.9 | Jun 2025 0.9 | Sep 2025 0.9 | Dec 2025 1.0 | Mar 2026 1.1 | Jun 2026 —
- SPNT: Sep 2021 0.6 | Dec 2021 0.5 | Mar 2022 0.5 | Jun 2022 0.4 | Sep 2022 0.4 | Dec 2022 0.5 | Mar 2023 0.6 | Jun 2023 0.7 | Sep 2023 0.8 | Dec 2023 0.8 | Mar 2024 0.8 | Jun 2024 0.8 | Sep 2024 0.9 | Dec 2024 1.0 | Mar 2025 1.4 | Jun 2025 1.1 | Sep 2025 1.0 | Dec 2025 1.0 | Mar 2026 1.1 | Jun 2026 —
- GLRE: Sep 2021 0.6 | Dec 2021 0.6 | Mar 2022 0.5 | Jun 2022 0.6 | Sep 2022 0.6 | Dec 2022 0.6 | Mar 2023 0.7 | Jun 2023 0.7 | Sep 2023 0.7 | Dec 2023 0.7 | Mar 2024 0.7 | Jun 2024 0.7 | Sep 2024 0.7 | Dec 2024 0.8 | Mar 2025 0.7 | Jun 2025 0.7 | Sep 2025 0.7 | Dec 2025 0.7 | Mar 2026 0.8 | Jun 2026 —

## Market action

Hamilton Insurance Group, Ltd. has the strongest one-year price move in Insurance - Reinsurance at +76.3%. It also leads on Mansfield relative strength against the S&P 500 at +21.8%. 6 of 6 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Hamilton Insurance Group, Ltd. (HG): 76%
2. Greenlight Capital Re, Ltd. (GLRE): 39%
3. RenaissanceRe Holdings Ltd. (RNR): 38%
4. Reinsurance Group of America, Incorporated (RGA): 37%
5. SiriusPoint Ltd. (SPNT): 34%

### Strongest relative strength versus NIFTY 500
1. Hamilton Insurance Group, Ltd. (HG): 22%
2. SiriusPoint Ltd. (SPNT): 16%
3. Greenlight Capital Re, Ltd. (GLRE): 11%
4. Reinsurance Group of America, Incorporated (RGA): 11%
5. RenaissanceRe Holdings Ltd. (RNR): 11%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
- Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.

## Every company
- Reinsurance Group of America, Incorporated (RGA) — market value ₹15.9K Cr; latest fundamentals Mar 2026
- Everest Group, Ltd. (EG) — market value ₹15.8K Cr; latest fundamentals Mar 2026
- RenaissanceRe Holdings Ltd. (RNR) — market value ₹13.9K Cr; latest fundamentals Jun 2026
- Hamilton Insurance Group, Ltd. (HG) — market value ₹3.7K Cr; latest fundamentals Mar 2026
- SiriusPoint Ltd. (SPNT) — market value ₹3.1K Cr; latest fundamentals Mar 2026
- Greenlight Capital Re, Ltd. (GLRE) — market value ₹586 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Insurance - Reinsurance company is the biggest?

Reinsurance Group of America, Incorporated is the largest, with trailing-twelve-month income of $24,932 million, ahead of Everest Group, Ltd. at $17,302 million. That covers 5 of 6 companies with comparable reporting through Mar 2026.

### Which Insurance - Reinsurance company is growing fastest?

SiriusPoint Ltd. has the fastest income growth at 23% year on year, across 5 of 6 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Insurance - Reinsurance company makes the most profit?

Everest Group, Ltd. earns the most, at $2,034 million of trailing-twelve-month net profit, from 5 of 6 comparable companies. Everest Group, Ltd. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Insurance - Reinsurance company earns the highest return on capital?

Hamilton Insurance Group, Ltd. leads on return on assets at 2.4%, across 6 of 6 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Insurance - Reinsurance stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Hamilton Insurance Group, Ltd. screens cheapest at 0.13×. Only 6 of 6 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Insurance - Reinsurance sector beating the market?

Insurance - Reinsurance has outperformed S&P 500 by 18.7% over the last 52 weeks and 8.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 6 of 6 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Insurance - Reinsurance stock has the strongest price momentum?

Hamilton Insurance Group, Ltd. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Insurance - Reinsurance company scores highest for research priority?

Hamilton Insurance Group, Ltd. scores 68.4 out of 100 with 76% evidence confidence, from 19.6 points on growth and earnings, 19.2 on capital efficiency, 13.6 on valuation and 16 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Insurance - Reinsurance companies does this comparison cover, and over what period?

It compares 6 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Insurance - Reinsurance sector?

The 6 Insurance - Reinsurance companies on this page carry $52,941 million of combined market value. Reinsurance Group of America, Incorporated is the largest at $15,896 million, about 30% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Insurance - Reinsurance sector's P/B ratio?

The median price-to-book ratio across the 6 Insurance - Reinsurance companies on this page is 1.1×, measured on the 6 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Insurance - Reinsurance sector performing?

6 of the 6 covered Insurance - Reinsurance companies are beating S&P 500 on Mansfield relative strength. The sector itself is 18.7% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Insurance - Reinsurance stocks are listed in the US?

This comparison covers 6 listed Insurance - Reinsurance companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/insurance-reinsurance