Analyst Highlights Two Insurance Buys (CRBG, NMIH, KNSL) and One Avoid

An investment analysis dated January 26, 2026, identifies two insurance stocks as buys while recommending against a third, citing company-specific quality over broad sector weakness. The industry has returned 2.8% over the past six months, trailing the S&P 500 by 5.4 percentage points. The analysis recommends NMI Holdings Inc. (NMIH), with a $2.90B market cap trading at 1.1x forward price-to-book, and Kinsale Capital Group (KNSL), a $9.46B firm specializing in niche risks trading at 4.8x P/B. It advises against Corebridge Financial (CRBG), a $15.64B retirement solutions provider spun off from AIG in 2022, citing its valuation of 1.2x forward P/B.