Eight groups have reported Q4 and full-year 2025 results, with figures pointing to premium growth, improved underwriting performance, record sales, and significant capital returns.
Skyward Specialty reported Q4 2025 net income of $43.2 million, or $1.03 per diluted share, compared to $14.4 million, or $0.35 per diluted share, in the prior-year quarter. Adjusted operating income rose to $48.9 million, or $1.17 per diluted share, from $33.2 million.
Gross written premiums increased 13.2% to $439.5 million. The combined ratio came in at 88.5%, with an ex-cat combined ratio of 87.7%.
For the full year, net income reached $170.0 million, or $4.07 per diluted share, up from $118.8 million. Return on equity was 18.9%, and book value per share rose 26% year-on-year to $24.92.
Erie Indemnity reported full-year 2025 net income of $559.3 million, or $10.69 per diluted share, compared to $600.3 million, or $11.48 per diluted share, in 2024. Q4 net income was $63.4 million, down from $152.0 million a year earlier.
Results were impacted by a $100 million pre-tax charitable contribution to the newly formed Erie Insurance Foundation, reducing after-tax net income by $80.6 million, or $1.54 per diluted share. Operating income before taxes increased 6.0% for the full year to $717.2 million.
Management fee revenue from policy issuance and renewal services grew 8.2%, while commissions rose on the back of premium growth and improved agent incentive compensation.
ProAssurance reported Q4 2025 net income of $33.4 million, or $0.64 per diluted share, and operating income of $42.4 million, or $0.82 per diluted share. Full-year net income was $50.9 million, while operating income reached $83.9 million.
Consolidated net premiums written were $916.9 million for the year. The full-year non-GAAP combined ratio improved 4.8 points to 104.2%, with the Specialty P&C segment posting a 98.3% ratio. The Q4 consolidated non-GAAP combined ratio was 90.3%, aided by $53.1 million in favorable prior-year reserve development in the medical professional liability book.
Specialty P&C renewal premium increases were 8% for 2025, part of cumulative rate increases exceeding 80% since 2018. Book value per share rose to $26.24 from $23.49.
Brighthouse Financial reported Q4 2025 net income available to shareholders of $112 million, or $1.93 per diluted share. Adjusted earnings, less notable items, were $227 million, or $3.93 per diluted share.
Full-year annuity sales reached $10.3 billion, primarily driven by record sales of Shield Level Annuities. Life sales also hit a record at $143 million, led by Brighthouse SmartCare.
The company's preliminary combined RBC ratio stood at 456%, with holding company liquid assets of $0.9 billion.
EverQuote reported Q4 2025 revenue of $195.3 million, up 32% year-on-year. Automotive insurance vertical revenue rose 32% to $179.9 million, while home and renters' revenue grew 37% to $15.4 million.
Full-year revenue reached $692.5 million, up 38%. Adjusted EBITDA surged 62% to $94.6 million, and operating cash flow rose to $95.4 million from $66.6 million. GAAP net income was $99.3 million, including a $38.4 million one-time deferred tax benefit.
The company ended 2025 with $171.4 million in cash and implemented a $50 million inaugural share repurchase program. Q1 2026 guidance calls for revenue of $175–$185 million.
Genworth Financial reported full-year 2025 net income of $223 million, or $0.54 per diluted share, and adjusted operating income of $144 million, or $0.35 per diluted share. Q4 net income was $2 million.
Its subsidiary Enact posted Q4 adjusted operating income of $146 million and returned $127 million to Genworth, maintaining a PMIERs sufficiency ratio of 162%. Genworth repurchased $94 million in shares during Q4 and $245 million for the full year, bringing total buybacks since inception to $790 million.
On the long-term care side, Genworth achieved $100 million in gross incremental premium approvals in Q4. CareScout delivered 925 home care provider matches, and Care Assurance launched in 39 states.
Octave Specialty Group reported total P&C premium production of $303 million for Q4, up 15%. In its insurance distribution segment, commission income grew 13% to $37 million, with organic revenue growth of 8.1%. Net loss to shareholders improved 76% to negative $1 million, while adjusted EBITDA rose 33% to $7 million.
Its specialty P&C underwriting unit, Everspan, posted gross premiums written of $80 million, up 34%, while net premiums written surged to $23 million, up 978%. Everspan's combined ratio fell below 100%, though net income to shareholders declined 37% and adjusted EBITDA fell 46%.
