CINF - Everest Re tops the week's financial winners while Lufax declines the most

Insurers and reinsurers dominated the U.S. financial stocks that climbed the most in an earnings-heavy week, while the biggest decliners consisted of two Chinese fintechs, two mortgage-related stocks, and a pet insurer.

For the financials sector as a whole, the week ended Feb. 10 was more or less a wash. The Financial Select Sector SPDR ETF ( XLF ) ended the week at $36.49, only $0.10 below the closing price of $36.59 on Feb. 3.

Everest Re Group ( NYSE: RE ) shares climbed 11% in the week that it reported growth in Q4 GAAP EPS, net investment income, and premiums earned, while its combined ration improved by 4.1 percentage points Y/Y. In addition, its CEO said the company expects reinsurance pricing momentum to continue in 2023.

F&G Annuities & Life ( NYSE: FG ) gained 9.5% ;

Cincinnati Financial ( NASDAQ: CINF ) rose 8.7% even though its Q4 earnings just missed the Wall Street consensus;

Voya Financial ( NYSE: VOYA ) stock increased 8.7% as Q4 earnings beat the consensus; and

Reinsurance Group of America ( NYSE: RGA ) advanced 6.7% .

In the decliners column, Chinese fintech Lufax Holding ( NYSE: LU ) fell the most at 14% .

Rocket Companies ( NYSE: RKT ), known for its Rocket Mortgages business, also sank 14% for the week. On Thursday, long-term mortgage rates rose ahead of the Spring home-buying season.

Hong Kong-based Futu Holdings ( NASDAQ: FUTU ) dropped 12% ;

UWM Holdings ( NYSE: UWMC ), known as United Wholesale Mortgage, also got stung by higher mortgage rates and slid 12% .

Pet insurer Trupanion ( NASDAQ: TRUP ) also fell 12% .

SA contributor Geoffrey Seiler took a look at the headwinds Trupanion faces.

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