European Insurance: How volatile are stocks at Q2 reporting season

Research evidence excerpt

European Insurance: How volatile are stocks at Q2 reporting season

Global Research

22 July 2026ab

European Insurance Equities

Europe including UKHow volatile are stocks at Q2 reporting season

Insurance

Will Hardcastle, CFA

Is Q2 a volatile reporting period? Analyst

This report is aimed at: 1. Helping to assess how European Insurance stocks have will.hardcastle@ubs.com

performed in recent years on Q2 reporting days, and comparing that to other periods; 2. +44-20-7567 9763

Assessing which sub-sector/individual stocks exhibit greatest dispersion on results days; Nasib Ahmed, FIA

and 3. Overlaying this with current crowding data to consider where there is heightened Analyst

scope for volatility at 2Q26 results. nasib-za.ahmed@ubs.com

+44-20-7568 8231

Q2 has exhibited higher volatility than other reporting periods for the sector Qian Lu

Over the past four years, European Insurance stock dispersion on Q2 results days has Analyst

been higher than the other three reporting periods. The first quarter has shown lowest qian-za.lu@ubs.com

+44-20-7567 4657

dispersion. The average four-year standard deviation at Q2 results has been 3.6%

whereas its been between 2.4-2.8% for the other three quarters. Chloe Ryan

Associate Analyst

Which companies have historically been the most volatile at Q2? chloe.ryan@ubs.com

+44-20-7567 3505

Multi-lines have typically exhibited the least share price dispersion at both Q2 and across

all reporting periods over the past four years, while Nordics have exhibited the highest.

SJP, Scor and Aegon have displayed the greatest volatility on Q2 results days. VIG,

L&G and Lancashire have been least volatile. When considering all results periods, SJP,

Scor and Standard Life show the greatest volatility, while Generali, Ageas and VIG have