Based on key financial metrics such as the price-to-sales ratio, shareholder yield and the price-earnings ratio, the following 6 stocks made the list for top value stocks in the Insurance industry. Those looking for value stocks to add to their portfolio may want to use this list as a starting point for further investment research.

Why Focus on Undervalued Insurance Stocks?

Value investors seek to buy stocks at a discount to their intrinsic value. Long-term returns show that such strategies are advantageous. Value stocks, as a group, tend to outperform growth stocks over extended periods of time. Typically, value investors perform financial analysis of numerous metrics, don’t follow the herd and are long-term investors.

AAII’s A+ Investor Value Grade is derived from a stock’s Value Score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

What Goes Into AAII’s Value Grade?

Stock evaluation requires access to huge amounts of data as well as the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movement. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors with that task.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A–F grades for more than just value. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others. Some stocks may even have null values for certain metrics like the price-earnings ratio or the price-to-book ratio but not others. An example of this would be a company with losses instead of profits or a negative book value because of heavy borrowing. Negative earnings or book value result in non-meaningful ratios that are left blank or null.

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6 Undervalued Insurance Stocks

Of course, there are countless value stocks that are worth mentioning, but this is a concise list of the top 6 undervalued stocks in the Insurance industry for Tuesday, September 23, 2025. Let’s take a closer look at their individual scores to see how they measure up against each other and the Insurance industry median.

The Value Grade is assigned based on how each stock’s composite valuation compares to all other stocks.

The process for assigning grades starts with each variable for a given stock. The percentile rankings for all valid ratios that a stock has are calculated. So, for instance, a stock could have a price-to-book ranking in the 43rd percentile, a price-earnings ranking in the 67th percentile, a price-to-sales ranking in the 23rd percentile, etc. Then, those rankings are averaged for each stock. (A minimum of two valid variables are required, though all six will be used if available.)

Once the average of the individual variables is calculated, that average is ranked against all stocks. Put another way, each stock’s composite valuation is compared to all other stocks. These ranks are then sorted into quintiles from the cheapest 20% (a grade of A) to the most expensive 20% (a grade of F).

As always, we recommend that you conduct proper due diligence and research before investing in any security. We also suggest that investors utilize numerous grades, not just value, when it comes to deciding whether a company is a good fit for their allocation needs.

American Integrity Insurance Group, Inc.’s Value Grade

Value Grade:

American Integrity Insurance Group, Inc. operates as an insurance company. It provides personal residential property insurance for single-family homeowners and condominium owners, as well as coverage for vacant dwellings and investment properties in Florida, Georgia, and South Carolina. It also offers condo, rental, vacant dwelling, seasonal property, umbrella, golf cart, boat, renters, manufactured home, cyber, and flood insurance. The company was founded in 2006 and is headquartered in Tampa, Florida.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

American Integrity Insurance Group, Inc. has a Value Score of 96, which is considered to be undervalued.

American Integrity Insurance Group, Inc.’s price-earnings ratio is 0.40 compared to the industry median at 14.30. This means it has a lower share price relative to earnings compared to its peers. This could make American Integrity Insurance Group, Inc. more attractive for value investors.

Now, let’s assess American Integrity Insurance Group, Inc.’s EV/EBITDA ratio, also known as enterprise multiple. At 0.7, when compared to the industry median of 8.7, the company may be considered undervalued in relation to its peers. Value investors could use the enterprise multiple to identify stocks that are considered overvalued or undervalued relative to their industry.

Shareholder yield is the sum of a stock’s dividend yield (paid over previous 12 months minus special dividends) and the percentage of net share buybacks over the previous 12 months. American Integrity Insurance Group, Inc.’s shareholder yield is lower than its industry median ratio of 0.80%. Value investors may look for an attractive shareholder yield because it can be a powerful tool for identifying if the company has a good management team.

As one of the most common value metrics, the price-to-book ratio evaluates a company’s current market price relative to its book value. American Integrity Insurance Group, Inc.’s price-to-book ratio is lower than its industry median ratio of 1.57. This could make American Integrity Insurance Group, Inc. more attractive to investors looking for a new addition to their portfolio.

Lastly, let’s take a look at American Integrity Insurance Group, Inc.’s price-to-free-cash-flow ratio (P/FCF), which can indicate a company’s market value relative to its operating cash flow. American Integrity Insurance Group, Inc.’s price-to-free-cash-flow ratio is lower than its industry median ratio of 9.00. This could make American Integrity Insurance Group, Inc. more attractive because the lower P/FCF ratio indicates that American Integrity Insurance Group, Inc. is undervalued. The P/FCF ratio metric can also be viewed over a long-term time frame to see if the company's cash flow to share price value is generally improving or worsening.

Employers Holdings, Inc.’s Value Grade

Value Grade:

Employers Holdings, Inc., through its subsidiaries, provides workers' compensation insurance and services in the United States. The company offers insurance to small businesses in low to medium hazard industries. It market its products through local, regional, specialty and national insurance agents and brokers; national, regional, and local trade groups and associations; and direct-to-customer interactions. Employers Holdings, Inc. was founded in 2000 and is based in Reno, Nevada.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Employers Holdings, Inc. has a Value Score of 88, which is considered to be undervalued.

Employers Holdings, Inc.’s price-earnings ratio is 10.4 compared to the industry median at 14.3. This means that it has a lower price relative to its earnings compared to its peers. This makes Employers Holdings, Inc. more attractive for value investors.

Employers Holdings, Inc.’s price-to-book ratio is higher than its peers. This could make Employers Holdings, Inc. less attractive for value investors when compared to the industry median at 1.57.

You can read more about Employers Holdings, Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Fidelis Insurance Holdings Limited’s Value Grade

Value Grade:

Fidelis Insurance Holdings Limited provides insurance and reinsurance solutions in Bermuda, the Republic of Ireland, and the United Kingdom. It operates in two segments: Insurance and Reinsurance. The Insurance segment offers property, marine, asset backed finance and portfolio credit, aviation and aerospace, political risk, violence and terror, energy, cyber, and other insurance products. The Reinsurance segment provides property, retrocession, and whole account reinsurance solutions. Fidelis Insurance Holdings Limited was incorporated in 2014 and is headquartered in Pembroke, Bermuda.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Fidelis Insurance Holdings Limited has a Value Score of 98, which is considered to be undervalued.

Fidelis Insurance Holdings Limited’s price-to-book ratio is higher than its peers. This could make Fidelis Insurance Holdings Limited less attractive for value investors when compared to the industry median at 1.57.

You can read more about Fidelis Insurance Holdings Limited’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

The Progressive Corporation’s Value Grade

Value Grade:

The Progressive Corporation operates as an insurance company in the United States. The company writes insurance for personal autos and special lines products, including motorcycles, RVs, and watercraft; and personal residential property insurance for homeowners and renters. It also writes auto-related liability and physical damage insurance for comprising dump trucks, log trucks, garbage trucks, tractors, trailers, straight trucks, tow trucks and wreckers, vans, pick-up trucks, and autos; business-related general liability and commercial property insurance for small businesses; and workers’ compensation insurance for the transportation industry. In addition, the company offers other specialty property-casualty insurance and provide related services; personal property reinsurance products; and involved in investment activities. It sells its products through independent insurance agencies, as well as online and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield Village, Ohio.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

The Progressive Corporation has a Value Score of 65, which is considered to be undervalued.

The Progressive Corporation’s price-earnings ratio is 13.6 compared to the industry median at 14.3. This means that it has a lower price relative to its earnings compared to its peers. This makes The Progressive Corporation more attractive for value investors.

The Progressive Corporation’s price-to-book ratio is lower than its peers. This could make The Progressive Corporation more attractive for value investors when compared to the industry median at 1.57.

You can read more about The Progressive Corporation’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Safety Insurance Group, Inc.’s Value Grade

Value Grade:

Safety Insurance Group, Inc. provides private passenger and commercial automobile, and homeowner insurance in the United States. The company offers private passenger automobile policies that provide coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured’s car occupants, and physical damage coverage for an insured’s own vehicle for collision or other perils. It also provides commercial automobile policies that offer insurance for commercial vehicles used for business purposes, including private passenger-type vehicles, trucks, tractors and trailers, insure individual vehicles, and commercial fleets; and homeowners policies, which provide coverage for homes, condominiums, and apartments for losses to a dwelling and its contents from various perils, and coverage for liability to others arising from ownership or occupancy. In addition, the company offers business owners policies that cover apartments and residential condominiums, restaurants, office condominiums, processing and services businesses, special trade contractors, and wholesalers. Further, it provides personal umbrella policies, which provide personal excess liability coverage over and above the limits of individual automobile, watercraft, and homeowner’s insurance policies; and commercial umbrella, which offers an excess liability product to clients, as well as underwrites dwelling fire insurance for non-owner-occupied residences. Additionally, the company offers inland marine coverage for homeowners and business owner policies, and watercraft coverage for small and medium sized pleasure crafts. It distributes its products through independent agents. The company was formerly known as Safety Holdings Inc and changed its name to Safety Insurance Group, Inc. in April 2002. Safety Insurance Group, Inc. was founded in 1979 and is headquartered in Boston, Massachusetts.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Safety Insurance Group, Inc. has a Value Score of 88, which is considered to be undervalued.

Safety Insurance Group, Inc.’s price-earnings ratio is 12.6 compared to the industry median at 14.3. This means that it has a lower price relative to its earnings compared to its peers. This makes Safety Insurance Group, Inc. more attractive for value investors.

Safety Insurance Group, Inc.’s price-to-book ratio is higher than its peers. This could make Safety Insurance Group, Inc. less attractive for value investors when compared to the industry median at 1.57.

You can read more about Safety Insurance Group, Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Tiptree Inc.’s Value Grade

Value Grade:

Tiptree Inc., through its subsidiaries, provides specialty insurance products and related services in the United States and Europe. It operates through two segments, Insurance and Mortgage. The company offers commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments. It also provides auto warranty programs, including vehicle service contracts, GAP, and other ancillary products; consumer goods warranty programs, such as mobile devices, consumer electronics, appliances, furniture; and premium or warranty contract financing services, lead generation support, and business process outsourcing services. In addition, the company offers mortgage loans for institutional investors; and asset management and advisory services. It markets its products through independent insurance agents, consumer finance companies, online retailers, auto dealers, brokers, and regional big box retailers. The company was formerly known as Tiptree Financial Inc. and changed its name to Tiptree Inc. in December 2016. Tiptree Inc. was founded in 1978 and is based in Greenwich, Connecticut.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Tiptree Inc. has a Value Score of 78, which is considered to be undervalued.

Tiptree Inc.’s price-earnings ratio is 18.6 compared to the industry median at 14.3. This means that it has a higher price relative to its earnings compared to its peers. This makes Tiptree Inc. less attractive for value investors.

Tiptree Inc.’s price-to-book ratio is lower than its peers. This could make Tiptree Inc. more attractive for value investors when compared to the industry median at 1.57.

You can read more about Tiptree Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Other Insurance Stock Grades

Value is just one of the five Stock Grades included in our A+ Investor service. AAII members can see the top-graded stocks—those with grades of A or B for value, growth, momentum, earnings estimate revisions and quality—on the A+ Stock Grades Screener.

Also, if you want full access to all of AAII’s premium services, you can subscribe to one convenient bundled plan called AAII Platinum where you can try out A+ Investor, AAII Dividend Investing, the Stock Superstars Report, Growth Investing and VMQ Stocks. With the other premium services, you can dive deep into additional metrics, portfolios, commentary and information about Insurance stocks as well as other industrys.

Choosing Which of the 6 Best Insurance Stocks Is Right for You

Choosing which value stocks to invest in will ultimately depend on your individual goals and allocation; however, comparing similar value stocks in the same industry can help you analyze which might be better investments for you in the long run. So, let’s take a look at the Value Grade for all of our stocks.

• American Integrity Insurance Group, Inc. stock has a Value Grade of A.
• Employers Holdings, Inc. stock has a Value Grade of A.
• Fidelis Insurance Holdings Limited stock has a Value Grade of A.
• The Progressive Corporation stock has a Value Grade of B.
• Safety Insurance Group, Inc. stock has a Value Grade of A.
• Tiptree Inc. stock has a Value Grade of B.

Now that you have a bit more background about each of the 6 undervalued stocks in the Insurance industry as well as their overall grades, it’s time for you to conduct additional research to see if these could fit your portfolio needs based on your goals and risk tolerance. AAII can help you figure out both and identify which investments align with what works best for you.

We do so through a program of education that teaches you to invest for yourself and become an effective manager of your own wealth—no more relying on others for your financial independence. You can rely on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis that makes you a better investor.

A+ Investor adds to that qualitative teaching by giving you a powerful data suite that helps you whittle down investment decisions to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

Additional Resources About Insurance Stocks

Want to learn more about Insurance stocks to see if they could be the right investment for you? Check out some additional resources and articles to help you on your financial journey.

• 6 Undervalued Insurance Stocks for Tuesday, September 23
• 3 Undervalued Insurance Stocks for Monday, September 22
• Why Brighthouse Financial, Inc.’s (BHF) Stock Is Down 5.08%
• Why FG Nexus Inc.’s (FGNX) Stock Is Down 7.15%

AAII Disclaimer

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