Insurers increase stock buybacks amid softening pricing

Major property and casualty insurers are increasing stock buybacks during the first half of 2026. Progressive repurchased approximately $1 billion in its own stock, while Chubb spent $1.37 billion in the second quarter alone, bringing its first-half total to $2.12 billion. Prudential also conducted $250 million in share repurchases during the second quarter.

These buybacks serve to reduce the total number of shares in the market, which can bolster earnings per share (EPS) even if overall company earnings experience a moderate decline. This trend occurs as the property and casualty insurance market faces softening pricing and increased competition.