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 Saturday, August 01, 2026. Let’s take a closer look at their individual scores to see how they measure up against each other and the Insurance industry median.
| Company | Ticker | Price/Sales | Price/Earnings | EV/EBITDA | Shareholder Yield | Price/Book Value | Price/Free Cash Flow | Value Grade |
| Greenlight Capital Re, Ltd. | GLRE | 0.80 | 7.1 | 5.4 | 1.0% | 0.76 | 2.4 | A |
| Horace Mann Educators Corporation | HMN | 1.25 | 13.1 | 9.1 | 3.8% | 1.43 | 5.1 | A |
| Kingstone Companies, Inc. | KINS | 1.24 | 9.1 | 4.7 | (6.3%) | 2.52 | 4.6 | B |
| NI Holdings, Inc. | NODK | 1.16 | na | na | 0.7% | 1.24 | na | B |
| Principal Financial Group, Inc. | PFG | 1.59 | 16.2 | 10.2 | 6.7% | 2.01 | 6.0 | A |
| RenaissanceRe Holdings Ltd. | RNR | 1.27 | 5.5 | 4.8 | 12.7% | 1.21 | 4.0 | A |
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.
Greenlight Capital Re, Ltd.’s Value Grade
Value Grade:
| Metric | Score | GLRE | Industry Median |
| Price/Sales | 27 | 0.80 | 1.27 |
| Price/Earnings | 8 | 7.1 | 12.9 |
| EV/EBITDA | 12 | 5.4 | 8.7 |
| Shareholder Yield | 36 | 1.0% | 1.3% |
| Price/Book Value | 15 | 0.76 | 1.78 |
| Price/Free Cash Flow | 5 | 2.4 | 8.8 |
Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. It operates through Open Market and Innovations segments. The company offers casualty reinsurance, such as automobile liability and general liability. It also provides coverages for casualty, including general liability, umbrella, multiline casualty, and workers’ compensation; financial, such as mortgage, trade credit, surety, transactional liability, and financial multiline; health, which include primarily accident and critical illness; multiline comprising FAL business, coupled with multiline commercial and personal auto liability, BOP, and multiline commercial; property, including commercial property and property catastrophe; and specialty products and services, such as agriculture, cyber, marine and energy, aviation and space, specialty multiline, and WPVT which covers losses relating to war, political violence, and terrorism. The company markets its products through reinsurance brokers. Greenlight Capital Re, Ltd. was incorporated in 2004 and is headquartered in Grand Cayman, the Cayman Islands.
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.
Greenlight Capital Re, Ltd. has a Value Score of 97, which is considered to be undervalued.
When you look at Greenlight Capital Re, Ltd.’s price-to-sales ratio at 0.80 compared to the industry median at 1.27, this company has a lower price relative to revenue compared to its peers. This could make Greenlight Capital Re, Ltd.’s stock more attractive for value investors.
Greenlight Capital Re, Ltd.’s price-earnings ratio is 7.10 compared to the industry median at 12.90. This means it has a lower share price relative to earnings compared to its peers. This could make Greenlight Capital Re, Ltd. more attractive for value investors.
Now, let’s assess Greenlight Capital Re, Ltd.’s EV/EBITDA ratio, also known as enterprise multiple. At 5.4, 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. Greenlight Capital Re, Ltd.’s shareholder yield is lower than its industry median ratio of 1.30%. 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. Greenlight Capital Re, Ltd.’s price-to-book ratio is lower than its industry median ratio of 1.78. This could make Greenlight Capital Re, Ltd. more attractive to investors looking for a new addition to their portfolio.
Lastly, let’s take a look at Greenlight Capital Re, Ltd.’s price-to-free-cash-flow ratio (P/FCF), which can indicate a company’s market value relative to its operating cash flow. Greenlight Capital Re, Ltd.’s price-to-free-cash-flow ratio is lower than its industry median ratio of 8.80. This could make Greenlight Capital Re, Ltd. more attractive because the lower P/FCF ratio indicates that Greenlight Capital Re, Ltd. 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.
Horace Mann Educators Corporation’s Value Grade
Value Grade:
| Metric | Score | HMN | Industry Median |
| Price/Sales | 36 | 1.25 | 1.27 |
| Price/Earnings | 29 | 13.1 | 12.9 |
| EV/EBITDA | 32 | 9.1 | 8.7 |
| Shareholder Yield | 21 | 3.8% | 1.3% |
| Price/Book Value | 38 | 1.43 | 1.78 |
| Price/Free Cash Flow | 10 | 5.1 | 8.8 |
Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. It operates through three segments: Property & Casualty, Life & Retirement, and Supplemental & Group Benefits segments. The Property & Casualty segment offers insurance products, including private passenger auto insurance, residential home insurance, and personal umbrella insurance; standard auto coverage including liability, collision, and comprehensive; property coverage for homeowners and renters. The Life & Retirement segment sells tax-qualified fixed, fixed indexed, and variable annuities; the Horace Mann Retirement Advantage open architecture platform and other defined contribution plans; traditional term, whole life insurance products, and indexed universal life (IUL) products. This segment also offers Life by Design, a portfolio of individual whole life and individual term insurance products that address the financial planning needs of educators; Life Select, a combination product that mixes a base of either traditional whole life, 20-pay life, or life paid-up at age 65 with a variety of term riders; single premium whole life products; and cash value term. The Supplemental & Group Benefits segment offers employer-sponsored products, including accident, critical illness, limited-benefit fixed indemnity insurance, term life, and short-term and long-term disability, as well as worksite direct products, such as supplemental heart, cancer, disability, and accident coverages. The company offers individual protection and savings solutions, including auto insurance, property insurance, liability insurance, 403(b) retirement plans, mutual funds, life insurance, student loan solutions, credit monitoring, and financial wellness workshops. It distributes its products and services through agents, brokers, benefit specialists, direct and digital channels. The company was founded in 1945 and is headquartered in Springfield, Illinois.
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.
Horace Mann Educators Corporation has a Value Score of 87, which is considered to be undervalued.
Horace Mann Educators Corporation’s price-earnings ratio is 13.1 compared to the industry median at 12.9. This means that it has a higher price relative to its earnings compared to its peers. This makes Horace Mann Educators Corporation less attractive for value investors.
Horace Mann Educators Corporation’s price-to-book ratio is higher than its peers. This could make Horace Mann Educators Corporation less attractive for value investors when compared to the industry median at 1.78.
You can read more about Horace Mann Educators 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.
Kingstone Companies, Inc.’s Value Grade
Value Grade:
| Metric | Score | KINS | Industry Median |
| Price/Sales | 36 | 1.24 | 1.27 |
| Price/Earnings | 13 | 9.1 | 12.9 |
| EV/EBITDA | 10 | 4.7 | 8.7 |
| Shareholder Yield | 70 | (6.3%) | 1.3% |
| Price/Book Value | 59 | 2.52 | 1.78 |
| Price/Free Cash Flow | 9 | 4.6 | 8.8 |
Kingstone Companies, Inc., through its subsidiary, Kingstone Insurance Company, provides property and casualty insurance products in the United States. The company offers personal line of insurance products, such as homeowners, dwelling fire, cooperative/condominiums, renters, and personal umbrella policies; and commercial auto insurance products. It also underwrites for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies. The company provides its products through retail and wholesale agents and brokers. The company was formerly known as DCAP Group, Inc. and changed its name to Kingstone Companies, Inc. in July 2009. Kingstone Companies, Inc. was founded in 1886 and is headquartered in Kingston, New York.
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.
Kingstone Companies, Inc. has a Value Score of 80, which is considered to be undervalued.
Kingstone Companies, Inc.’s price-earnings ratio is 9.1 compared to the industry median at 12.9. This means that it has a lower price relative to its earnings compared to its peers. This makes Kingstone Companies, Inc. more attractive for value investors.
Kingstone Companies, Inc.’s price-to-book ratio is lower than its peers. This could make Kingstone Companies, Inc. more attractive for value investors when compared to the industry median at 1.78.
You can read more about Kingstone Companies, 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.
NI Holdings, Inc.’s Value Grade
Value Grade:
| Metric | Score | NODK | Industry Median |
| Price/Sales | 34 | 1.16 | 1.27 |
| Price/Earnings | na | na | 12.9 |
| EV/EBITDA | na | na | 8.7 |
| Shareholder Yield | 38 | 0.7% | 1.3% |
| Price/Book Value | 31 | 1.24 | 1.78 |
| Price/Free Cash Flow | na | na | 8.8 |
NI Holdings, Inc., together with its subsidiaries, underwrites property and casualty insurance products in the United States. Its products include private passenger auto, homeowners, farm owners, commercial multi-peril, crop hail, excess liability, dwelling, and federal multi-peril crop insurance policies, as well as non-standard automobile insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc. is a subsidiary of Nodak Mutual Group, Inc.
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.
NI Holdings, Inc. has a Value Score of 76, which is considered to be undervalued.
NI Holdings, Inc.’s price-to-book ratio is higher than its peers. This could make NI Holdings, Inc. less attractive for value investors when compared to the industry median at 1.78.
You can read more about NI 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.
Principal Financial Group, Inc.’s Value Grade
Value Grade:
| Metric | Score | PFG | Industry Median |
| Price/Sales | 42 | 1.59 | 1.27 |
| Price/Earnings | 40 | 16.2 | 12.9 |
| EV/EBITDA | 38 | 10.2 | 8.7 |
| Shareholder Yield | 10 | 6.7% | 1.3% |
| Price/Book Value | 51 | 2.01 | 1.78 |
| Price/Free Cash Flow | 12 | 6.0 | 8.8 |
Principal Financial Group, Inc. provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services. This segment offers products and services for defined contribution plans, including 401(k) and 403(b) plans, defined benefit plans, nonqualified executive benefit plans, employee stock ownership plans, equity compensation, and pension risk transfer services; individual retirement accounts; investment only products; and mutual funds, individual variable annuities, registered index-linked annuities, and bank products, as well as trust and custody services. The Principal Asset Management segment provides equity, fixed income, real estate, and other alternative investments, as well as fund offerings. This segment also offers pension accumulation products and services, mutual funds, asset management, income annuities, and life insurance accumulation products, as well as voluntary savings plans. The Benefits and Protection segment provides specialty benefits, such as specialty benefits group dental and vision insurance, group life and other insurance, and group and individual disability insurance, as well as administers group dental, disability, and vision benefits; and individual life insurance products comprising universal, variable universal, indexed universal, and term life insurance products. This segment serves insurance solutions for small and medium-sized businesses and their owners, as well as employees. The company was founded in 1879 and is based in Des Moines, Iowa.
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.
Principal Financial Group, Inc. has a Value Score of 81, which is considered to be undervalued.
Principal Financial Group, Inc.’s price-earnings ratio is 16.2 compared to the industry median at 12.9. This means that it has a higher price relative to its earnings compared to its peers. This makes Principal Financial Group, Inc. less attractive for value investors.
Principal Financial Group, Inc.’s price-to-book ratio is lower than its peers. This could make Principal Financial Group, Inc. more attractive for value investors when compared to the industry median at 1.78.
You can read more about Principal Financial 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.
RenaissanceRe Holdings Ltd.’s Value Grade
Value Grade:
| Metric | Score | RNR | Industry Median |
| Price/Sales | 36 | 1.27 | 1.27 |
| Price/Earnings | 5 | 5.5 | 12.9 |
| EV/EBITDA | 10 | 4.8 | 8.7 |
| Shareholder Yield | 3 | 12.7% | 1.3% |
| Price/Book Value | 30 | 1.21 | 1.78 |
| Price/Free Cash Flow | 8 | 4.0 | 8.8 |
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance contracts to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S. multi-line reinsurance. The Casualty and Specialty segment writes various classes of products, such as directors and officers, medical malpractice, transactional liability, and professional indemnity; automobile and employer’s liability, casualty clash, umbrella or excess casualty, workers’ compensation, and general liability; financial and mortgage guaranty, political risk, surety, and trade credit; and accident and health, agriculture, aviation, construction, cyber, energy, marine, satellite, and terrorism. The company distributes products and services primarily through intermediaries. It invests in and manages funds. RenaissanceRe Holdings Ltd. was incorporated in 1993 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.
RenaissanceRe Holdings Ltd. has a Value Score of 98, which is considered to be undervalued.
RenaissanceRe Holdings Ltd.’s price-earnings ratio is 5.5 compared to the industry median at 12.9. This means that it has a lower price relative to its earnings compared to its peers. This makes RenaissanceRe Holdings Ltd. more attractive for value investors.
RenaissanceRe Holdings Ltd.’s price-to-book ratio is higher than its peers. This could make RenaissanceRe Holdings Ltd. less attractive for value investors when compared to the industry median at 1.78.
You can read more about RenaissanceRe Holdings Ltd.’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.
- Greenlight Capital Re, Ltd. stock has a Value Grade of A.
- Horace Mann Educators Corporation stock has a Value Grade of A.
- Kingstone Companies, Inc. stock has a Value Grade of B.
- NI Holdings, Inc. stock has a Value Grade of B.
- Principal Financial Group, Inc. stock has a Value Grade of A.
- RenaissanceRe Holdings Ltd. stock has a Value Grade of A.
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 Friday, July 31
- Is F&G Annuities & Life, Inc. (FG) Overvalued?
- Is Slide Insurance Holdings, Inc. (SLDE) a Good Dividend Stock?
- Why Root, Inc.’s (ROOT) Stock Is Down 6.70%
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We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith and we accept no liability for any errors or omissions. The full disclaimer can be read here.
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