National Security Group Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of National Security Group Inc (NSEC) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: National Security Group Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 66M vs 1,391,174M combined for tracked competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (-1.8% annualized vs trailing 12 months), vs decelerating (-27.0%) for its tracked peer group.
- Growth: National Security Group Inc generated -0.5% revenue growth year over year in Q1 2022, vs 2.5% for its tracked competitors combined.
- Profitability: Its 5.9% net margin compares with 8.8% for the peer group.
- Peer revenue share: National Security Group Inc accounted for 0.0% of combined revenue among its tracked peer group, up from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $66.13M compares with $1.32M for the peer group (50.1x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
NSEC Sales vs. its Competitors, Q1 2022
National Security Group Inc reported revenue contraction of 0.48 % year on year in Q1 2022, below its competitors' combined revenue growth of 2.47 %.
With a net margin of 5.93 %, National Security Group Inc reported lower profitability than its competitors (8.84 %).
National Security Group Inc generated 0.01 % of the combined sales of its peer group, up from 0.01 % a year earlier.
National Security Group Inc vs. its Competitors, Q1 2022
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across National Security Group Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| National Security Group Inc. | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across National Security Group Inc's competitor groups requires a Commercial License.
For context: the Life Insurance industry grew revenue 5.1% year over year, combined, vs -0.5% for National Security Group Inc. National Security Group Inc's share of combined industry revenue moved from 0.01% to 0.01%, a gain of 0.00 percentage points.
National Security Group Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| National Security Group Inc. | Yes | No | No | No |
| Competitors combined (75) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 62.50 % (5 of 8) | 0.00 % (0 of 8) | 0.00 % (0 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
NSEC Stock Performance relative to its Competitors
NSEC Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | United Fire Group Inc | 282.9% | Outperformed |
| 2 | Universal Insurance Holdings Inc | 282.9% | Outperformed |
| 3 | Safety Insurance Group Inc | 282.9% | Outperformed |
| 4 | Principal Financial Group inc | 282.9% | Outperformed |
| 5 | Heritage Insurance Holdings Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for National Security Group Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
National Security Group Inc's Comment on Competition and Industry Peers
NSFCs primary insurance products are dwelling fire and homeowners, including mobile homeowners. Dwelling fire and homeowners are collectively referred to as the dwelling property line of business. We focus on providing niche insurance products within the markets we serve. We are in the top twenty-five dwelling property insurance carriers in our two largest states, Alabama and Mississippi. However, due to the large concentration of business among the top five carriers, our total market share in the dwelling fire line of business is approximately 2.5% in Alabama and 1.5% in Mississippi. In the homeowners line of business, our market share in both Alabama and Mississippi is less than 1%. The homeowners markets are even more concentrated with the top three homeowners carriers in both Alabama and Mississippi controlling approximately 50% of the market share.
We have actively sought competitive advantages over the last decade in the area of technological advancement. Over the last twelve years, we have replaced our primary policy administration systems in both our property and casualty and life insurance subsidiaries.
The property and casualty administration system is an internally developed end-to-end system that we believe enhances our ability to compete with larger carriers in the markets we serve. The system features a web based portal that allows our independent agents to rate, quote and issue policies directly in their office. The system streamlines the underwriting process with automation of many previous manual processes and enhances our agents ability to provide excellent service to their clients. The system also enhances the efficiency of our underwriting process allowing for a more thorough evaluation of risks.
Our property and casualty claims administration system automates processes and workflows throughout the claims process and provides a single view of the activity that has occurred on a claim. The system also has an adjuster web portal, which allows adjusters to view policy limits, see reserve history and policy information, and view prior claims and loss history. Communications between adjusters and examiners are centralized on the web portal allowing for any messages to be viewed securely as part of the claims history. Computerized issuance of field checks by staff adjusters was also implemented enforcing reserve and policy limits while reducing the error rates of the previously used hand written checks issued in the field.
Publicly Traded Peers of National Security Group Inc.
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| National Security Group Inc. | 41.43 | 66.13 |
| Progressive Corp | 122,372.37 | 91,055.00 |
| Travelers Companies inc | 77,570.98 | 48,979.00 |
| The Cigna Group | 71,752.79 | 282,382.00 |
| Metlife Inc | 61,985.96 | 79,403.00 |
| Allstate Corp | 58,958.21 | 70,137.00 |
| SUBTOTAL | 1,017,291.99 | 1,402,333.26 |
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Sources: National Security Group Inc.'s official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on National Security Group Inc. versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
National Security Group Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| National Security Group Inc. | Dwelling Fire and Extended Coverage 70.92 % |
| Travelers Companies inc | Business Insurance 45.68 % |
| The Cigna Group | Evernorth 85.32 % |
| Metlife Inc | Group Benefits 36.13 % |
| Allstate Corp | Allstate Protection 87.37 % |
| Aon Plc | Risk Capital 70.80 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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National Security Group Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| National Security Group Inc. | 41 | 66,131,000 | 823,000 |
| Progressive Corp | 122,372 | 1,821,100 | 233,900 |
| Travelers Companies inc | 77,571 | 1,440,559 | 243,765 |
| The Cigna Group | 71,753 | 4,171,078 | 103,146 |
| Metlife Inc | 61,986 | 1,726,152 | 79,543 |
| Allstate Corp | 58,958 | 1,308,526 | 248,134 |
| PEERS TOTAL | 1,017,251 | 1,320,590 | 180,032 |
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National Security Group Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Aon Plc | Europe, Middle East, and Africa, Other Than United Kingdom and Ireland 16.91 % |
| Brown and Brown Inc | US 86.46 % |
| Ncr Atleos Corporation | United States 47.84 % |
| Leaf Group Ltd | US 87.97 % |
| Citizens Inc | All Countries 66.88 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
National Security Group Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Life Insurance industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (28 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 29.01 % | 44.67 % (avg) | -15.7 pp |
| Operating Margin | 14.68 % | industry median | -27.4 pp |
| EBITDA Margin | 7.91 % | 20.82 % (avg) | -12.9 pp |
| Capital Intensity (Capex / Revenue) | - | 0.70 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
National Security Group Inc's Valuation vs Competitive Position
Valuation multiples vs the Life Insurance industry average (28 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 17.6x | - |
| EV / EBITDA | 10.3x | 13.8x | -3.5x |
| P/B | 0.9x | 1.2x | -0.2x |
| Return on Equity | 1.92 % | industry aggregate | -10.60 % |
| Return on Invested Capital | 5.31 % | 5.48 % (avg) | -0.17 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
National Security Group Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 5.15 % | -0.40 % | 4.44 % | -1.87 % | -1.19 % | 3.92 % | -1.11 % | -0.66 % |
| Operating Margin | 28.54 % | 24.48 % | 19.94 % | -16.99 % | -9.34 % | 19.55 % | -3.92 % | 14.11 % |
| Return on Invested Capital | 10.85 % | 8.69 % | 7.74 % | -6.03 % | -3.34 % | 6.84 % | -1.39 % | 5.07 % |
| P/E | - | 7.9x | 14.1x | - | 40.9x | 8.9x | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
National Security Group Inc's Strategic Group Map
Every company in National Security Group Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. National Security Group Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
National Security Group Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
National Security Group Inc falls in the High attractiveness / Low strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
National Security Group Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 27.4 points below the industry median.
- Return on equity 10.6 points below the industry aggregate.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-27.0% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
National Security Group Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| National Security Group Inc. | - | 1.41 | 0.31 |
| Progressive Corp | 0.06 | 1.06 | 0.23 |
| Travelers Companies inc | 0.01 | 1.08 | 0.28 |
| The Cigna Group | 0.12 | 0.82 | 0.76 |
| Metlife Inc | 0.08 | 0.29 | 0.70 |
| Allstate Corp | 0.02 | 0.15 | 0.25 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
National Security Group Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| National Security Group Inc. | Q1 2022 | -0.5 % | +33.4 % |
| Progressive Corp | Q2 2026 | +7.3 % | +4.3 % |
| Travelers Companies inc | Q2 2026 | +0.3 % | +45.3 % |
| The Cigna Group | Q2 2026 | +6.7 % | +22.4 % |
| Metlife Inc | Q2 2026 | +10.5 % | +6.0 % |
| Allstate Corp | Q2 2026 | +11.8 % | +55.8 % |
| PEERS TOTAL | +8.3 % | +63.5 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
National Security Group Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| National Security Group Inc. | Q1 2022 | +16.8 % | +433.3 % |
| Progressive Corp | Q2 2026 | +1,027.3 % | +35.3 % |
| Travelers Companies inc | Q2 2026 | -0.9 % | - |
| The Cigna Group | Q2 2026 | +6.4 % | - |
| Metlife Inc | Q2 2026 | +1,959.3 % | - |
| Allstate Corp | Q2 2026 | +6.1 % | - |
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National Security Group Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| National Security Group Inc. | 0.53% | 0.59% | 1.92% |
| Progressive Corp | 9.51% | 11.22% | 35.40% |
| Travelers Companies inc | 5.78% | 10.84% | 25.58% |
| The Cigna Group | 4.46% | 6.88% | 16.50% |
| Metlife Inc | 0.49% | 0.77% | 12.93% |
| Allstate Corp | 10.88% | 16.50% | 43.12% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
National Security Group Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| National Security Group Inc. | - | 0.63 |
| Progressive Corp | 10.51 | 1.34 |
| Travelers Companies inc | 9.72 | 1.58 |
| The Cigna Group | 11.27 | 0.25 |
| Metlife Inc | 18.39 | 0.78 |
| Allstate Corp | 4.56 | 0.84 |
| PEERS AVERAGE | 5.32 | 0.73 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.