Insurers Are Buying Back More Stock as Pricing Softens

Major property and casualty insurers Progressive, Chubb, and Prudential are executing significant stock buybacks as insurance pricing becomes more competitive. Global insurance rates fell 6% in Q2 2026, with property rates dropping 12%, pressuring profitability. Stock buybacks help offset earnings weakness by reducing share counts, allowing earnings per share to remain stable even as underlying business performance weakens.