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Australian (ASX) Insurance Industry Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies10
  • 7D-2.7%
  • 3M-6.0%
  • 1Y-9.5%
  • YTD-9.9%

Over the last 7 days, the Insurance industry has dropped 2.7%, driven by a pullback from QBE Insurance Group of 3.7%. Overall the industry is down 9.5% in 12 months. As for the next few years, earnings are expected to grow by 6.9% per annum.

Industry Valuation and Performance

Has the Australian Insurance Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026AU$87.4bAU$77.0bAU$6.3b15.6x13.9x1.1x
Mon, 02 Feb 2026AU$94.2bAU$82.2bAU$7.0b17.9x13.5x1.1x
Wed, 31 Dec 2025AU$96.7bAU$83.5bAU$7.1b17.9x13.6x1.2x
Fri, 28 Nov 2025AU$96.5bAU$84.4bAU$7.2b18.2x13.4x1.1x
Sun, 26 Oct 2025AU$101.0bAU$84.5bAU$7.2b19.6x14.1x1.2x
Tue, 23 Sep 2025AU$103.5bAU$84.0bAU$7.1b19.6x14.5x1.2x
Thu, 21 Aug 2025AU$109.1bAU$84.6bAU$7.1b20.9x15.5x1.3x
Sat, 19 Jul 2025AU$108.1bAU$81.8bAU$6.3b21x17x1.3x
Mon, 16 Jun 2025AU$109.4bAU$82.0bAU$6.4b19.3x17.2x1.3x
Wed, 14 May 2025AU$104.2bAU$82.4bAU$6.4b20x16.3x1.3x
Fri, 11 Apr 2025AU$97.9bAU$83.8bAU$6.5b19.5x15.1x1.2x
Sun, 09 Mar 2025AU$96.1bAU$83.0bAU$6.4b19.1x14.9x1.2x
Tue, 04 Feb 2025AU$102.9bAU$80.6bAU$5.7b24.5x18.2x1.3x
Thu, 02 Jan 2025AU$97.7bAU$80.5bAU$5.2b26.1x18.9x1.2x
Sat, 30 Nov 2024AU$100.3bAU$78.8bAU$5.0b27.3x19.9x1.3x
Mon, 28 Oct 2024AU$90.9bAU$78.3bAU$5.0b25.4x18.2x1.2x
Wed, 25 Sep 2024AU$91.9bAU$77.4bAU$5.0b26.6x18.5x1.2x
Fri, 23 Aug 2024AU$91.7bAU$71.0bAU$5.0b26.6x18.2x1.3x
Sun, 21 Jul 2024AU$91.5bAU$77.1bAU$5.2b22.3x17.6x1.2x
Tue, 18 Jun 2024AU$90.5bAU$77.4bAU$5.2b20.8x17.3x1.2x
Thu, 16 May 2024AU$88.8bAU$77.3bAU$5.2b19.9x17x1.1x
Sat, 13 Apr 2024AU$89.0bAU$84.1bAU$5.3b20.4x16.9x1.1x
Mon, 11 Mar 2024AU$87.3bAU$83.3bAU$5.2b20x16.7x1x
Wed, 07 Feb 2024AU$83.3bAU$64.8bAU$4.7b19.5x17.8x1.3x
Fri, 05 Jan 2024AU$78.5bAU$63.9bAU$4.6b19x17x1.2x
Sun, 03 Dec 2023AU$80.2bAU$64.1bAU$4.6b19x17.3x1.3x
Tue, 31 Oct 2023AU$76.5bAU$65.2bAU$4.7b18.5x16.2x1.2x
Thu, 28 Sep 2023AU$79.5bAU$65.2bAU$4.7b18.7x16.9x1.2x
Sat, 26 Aug 2023AU$77.0bAU$64.8bAU$4.7b25x16.4x1.2x
Mon, 24 Jul 2023AU$80.3bAU$56.4bAU$3.4b29.9x23.8x1.4x
Wed, 21 Jun 2023AU$80.4bAU$56.2bAU$3.4b31.6x23.9x1.4x
Fri, 19 May 2023AU$74.1bAU$56.7bAU$3.4b29.9x21.9x1.3x
Sun, 16 Apr 2023AU$74.2bAU$56.4bAU$3.4b35.1x22.1x1.3x
Tue, 14 Mar 2023AU$71.7bAU$56.6bAU$3.4b36.4x21.3x1.3x
Price to Earnings Ratio

21.3x


Total Market Cap: AU$71.7bTotal Earnings: AU$3.4bTotal Revenue: AU$56.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 17.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Insurance industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 13.9x which is lower than its 3-year average PE of 17.4x.
  • The industry is trading close to its 3-year average PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 23% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Australian Financials industry?

AU Market-3.68%
Financials-3.23%
Insurance-2.68%
Property and Casualty Insurance-2.61%
Insurance Brokers-2.62%
Life and Health Insurance-2.97%
Industry PE
  • Investors are most optimistic about the Life and Health Insurance industry, which is trading close to its 3-year average PE ratio of 29.1x.
    • Analysts are expecting annual earnings growth of 15.4%, which is higher than its past year's earnings decline of 35.0% per year.
  • Investors are most pessimistic about the Property and Casualty Insurance industry, which is trading below its 3-year average of 15.3x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings decline of 35% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings grow by 4.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NOL NobleOak LifeAU$1.350.4%
+AU$464.7k		-14.1%PE24.1x

Latest News

QBE
AU$20.93
QBE Insurance Group
7D
-3.7%
1Y
0.7%
GDG
AU$4.41
Generation Development Group
7D
-5.2%
1Y
-9.4%

GDG: Leadership Transition And Margin Outlook Will Support Future Upside

Analysts have lifted their price target on Generation Development Group from A$8.12 to A$8.47, citing updated assumptions for discount rates, revenue trends, profit margins and future P/E as the key drivers of the change. What's in the News Generation Development Group announced that Chief Financial Officer Terence Wong plans to step down at the conclusion of the 2026 financial year, remaining through the 1H FY26 reporting period and supporting the transition until the end of June 2026 (Key Developments).
NOL
AU$1.35
NobleOak Life
7D
0.4%
1Y
-14.1%
NHF
AU$6.05
nib holdings
7D
-5.6%
1Y
-6.1%

NHF: Steady Discount Rate And Adjusted Assumptions Will Support Future Upside

Analysts have trimmed their price target on nib holdings by A$0.10, reflecting small tweaks to fair value assumptions, revenue growth forecasts, profit margin expectations and the future P/E multiple used in their models. Valuation Changes Fair Value: Trimmed slightly from A$7.71 to A$7.61.
SUN
AU$14.39
Suncorp Group
7D
-1.6%
1Y
-23.2%

SUN: Upgraded Buy Rating And Dividend Outlook Will Support Future Confidence

Analysts have trimmed their fair value estimate for Suncorp Group from A$19.14 to A$18.21, citing updated assumptions on revenue growth, profit margins and future P/E, even as recent research highlights what is seen as a compelling valuation at current share levels. Analyst Commentary Recent research updates on Suncorp Group reflect a mix of optimism on valuation and caution around execution, which helps explain why some fair value estimates have been trimmed even as others see room for upside.
AUB
AU$24.12
AUB Group
7D
-4.8%
1Y
-18.5%
SDF
AU$4.35
Steadfast Group
7D
-1.1%
1Y
-20.6%
MPL
AU$4.29
Medibank Private
7D
-2.1%
1Y
0.2%
IAG
AU$6.57
Insurance Australia Group
7D
-1.4%
1Y
-14.2%

IAG: Share Buyback And Margin Outlook Will Support Undervalued Upside

Analysts have trimmed their price target on Insurance Australia Group to around A$8.23 from about A$8.64, reflecting updated assumptions that factor in softer revenue expectations, slightly firmer profit margins and a lower future P/E of roughly 19.9x. What's in the News The board has approved a share buyback plan, providing authorization for Insurance Australia Group to repurchase its own shares as of February 12, 2026 (company announcement).