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Australian (ASX) Insurance Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies10
  • 7D-1.6%
  • 3M-9.6%
  • 1Y-4.2%
  • YTD-2.2%

The Insurance industry has been flat over the last week, but Insurance Australia Group has lost 4.3%. As for the longer term, the industry has declined 3.2% in the last year. Earnings are forecast to grow by 2.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026AU$94.6bAU$83.6bAU$7.1b18.2x13.3x1.1x
Sat, 13 Dec 2025AU$94.5bAU$83.7bAU$7.1b18.2x13.3x1.1x
Mon, 10 Nov 2025AU$100.3bAU$84.6bAU$7.2b18.7x14x1.2x
Wed, 08 Oct 2025AU$104.6bAU$84.0bAU$7.1b19.8x14.6x1.2x
Fri, 05 Sep 2025AU$107.0bAU$84.4bAU$7.2b19.8x14.9x1.3x
Sun, 03 Aug 2025AU$108.3bAU$82.2bAU$6.4b19.8x17x1.3x
Tue, 01 Jul 2025AU$110.8bAU$81.8bAU$6.3b20.2x17.5x1.4x
Thu, 29 May 2025AU$107.8bAU$82.3bAU$6.4b20.4x16.9x1.3x
Sat, 26 Apr 2025AU$100.5bAU$82.5bAU$6.4b19.4x15.7x1.2x
Mon, 24 Mar 2025AU$98.7bAU$83.2bAU$6.5b19.9x15.3x1.2x
Wed, 19 Feb 2025AU$98.8bAU$81.2bAU$6.3b18.8x15.6x1.2x
Fri, 17 Jan 2025AU$98.5bAU$80.5bAU$5.2b26.2x19.1x1.2x
Sun, 15 Dec 2024AU$97.0bAU$79.6bAU$5.1b25.9x19x1.2x
Tue, 12 Nov 2024AU$94.2bAU$78.4bAU$5.0b26.1x18.8x1.2x
Thu, 10 Oct 2024AU$89.4bAU$77.6bAU$4.9b25.4x18.1x1.2x
Sat, 07 Sep 2024AU$93.4bAU$77.9bAU$5.0b26.5x18.7x1.2x
Mon, 05 Aug 2024AU$94.0bAU$77.9bAU$5.2b22.9x17.9x1.2x
Wed, 03 Jul 2024AU$91.4bAU$77.2bAU$5.2b22.4x17.6x1.2x
Fri, 31 May 2024AU$87.0bAU$77.3bAU$5.2b19.4x16.7x1.1x
Sun, 28 Apr 2024AU$87.6bAU$77.8bAU$5.2b20.1x16.7x1.1x
Tue, 26 Mar 2024AU$88.8bAU$83.9bAU$5.2b20.1x16.9x1.1x
Thu, 22 Feb 2024AU$85.5bAU$81.1bAU$5.0b19.8x17.1x1.1x
Sat, 20 Jan 2024AU$80.8bAU$64.4bAU$4.7b19.9x17.4x1.3x
Mon, 18 Dec 2023AU$77.1bAU$64.0bAU$4.6b19.2x16.6x1.2x
Wed, 15 Nov 2023AU$80.1bAU$65.2bAU$4.7b19.2x17x1.2x
Fri, 13 Oct 2023AU$79.7bAU$65.1bAU$4.7b18.9x16.9x1.2x
Sun, 10 Sep 2023AU$79.0bAU$65.2bAU$4.7b19.3x16.7x1.2x
Tue, 08 Aug 2023AU$80.0bAU$57.0bAU$3.4b31.1x23.5x1.4x
Thu, 06 Jul 2023AU$80.3bAU$56.6bAU$3.4b32.2x23.8x1.4x
Sat, 03 Jun 2023AU$76.0bAU$56.8bAU$3.4b31x22.4x1.3x
Mon, 01 May 2023AU$75.1bAU$56.7bAU$3.4b34.8x22.2x1.3x
Wed, 29 Mar 2023AU$70.5bAU$56.5bAU$3.4b35.1x20.9x1.2x
Fri, 24 Feb 2023AU$73.5bAU$56.0bAU$3.3b40x22.1x1.3x
Sun, 22 Jan 2023AU$69.4bAU$52.7bAU$2.4b33.9x28.6x1.3x
Price to Earnings Ratio

28.6x


Total Market Cap: AU$69.4bTotal Earnings: AU$2.4bTotal Revenue: AU$52.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 18x202420252026
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 13.4x which is lower than its 3-year average PE of 18.0x.
  • 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 43% per year over the last three years.
  • Revenues for these companies have grown 16% 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 Market1.58%
Financials0.78%
Insurance-1.65%
Life and Health Insurance-0.10%
Insurance Brokers-0.36%
Property and Casualty Insurance-2.27%
Industry PE
  • Investors are most optimistic about the Life and Health Insurance industry even though it's trading below its 3-year average PE ratio of 29.0x.
    • Analysts are expecting annual earnings growth of 10.9%, which is higher than its past year's earnings growth of 8.4% per year.
  • Investors are most pessimistic about the Property and Casualty Insurance industry, which is trading below its 3-year average of 15.9x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 11% over the next 5 years.
  • This is better than its past earnings growth rate of 8.4% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
No data available

Latest News

IAG
AU$7.57
Insurance Australia Group
7D
-4.9%
1Y
-12.1%

IAG: RACQ Integration Will Support Stronger 2026 Outlook With Fair Valuation

Analysts have slightly reduced their price target for Insurance Australia Group to A$8.68 from A$8.72, reflecting updated assumptions of softer revenue growth, a modestly stronger profit margin profile, and a marginally lower forward P/E multiple. What's in the News Raised fiscal 2026 guidance for gross written premium growth to about 10%, reflecting the planned inclusion of RACQ Insurance from 1 September 2025 (Corporate Guidance).
QBE
AU$19.74
QBE Insurance Group
7D
-1.0%
1Y
0.1%

QBE: New Group CFO Appointment Will Support Stronger Margins And Returns

Analysts have trimmed their price target for QBE Insurance Group slightly to A$22.21 from A$22.27, citing updated assumptions that combine softer revenue expectations with a modestly higher profit margin and a slightly lower future P/E multiple. What's in the News QBE Insurance Group has appointed Chris Killourhy as Group Chief Financial Officer, with almost 25 years of insurance and finance experience, effective 1 January 2026, subject to regulatory approvals (Key Developments).
GDG
AU$5.91
Generation Development Group
7D
-0.7%
1Y
48.5%

GDG: CFO Transition And Solid Margins Will Support Future Upside

Analysts have maintained their price target on Generation Development Group at A$7.52, reflecting unchanged views on the discount rate, revenue expectations, profit margin and future P/E assumptions. What's in the News Generation Development Group announced that Chief Financial Officer Terence Wong will step down at the conclusion of the 2026 financial year and remain with the Group until the end of June 2026 to support a transition to a new CFO (Key Developments).
MPL
AU$4.71
Medibank Private
7D
-1.7%
1Y
24.6%

MPL: Fair Value Update Balances Margin Resilience With Digital Health Risks

Narrative Update Analysts have nudged their Medibank Private fair value estimate higher to A$5.16 from A$5.08. This reflects updated assumptions for slightly stronger revenue growth and profit margins, partly balanced by a higher discount rate and a modestly lower future P/E multiple.
SDF
AU$5.25
Steadfast Group
7D
-1.1%
1Y
-10.1%

SDF: CEO Return Timeline And Margin Profile Will Support Future Momentum

Analysts have nudged their price target on Steadfast Group slightly lower to A$6.33 from A$6.34, reflecting small adjustments to assumptions for revenue growth, profit margins and the future P/E multiple. What's in the News Steadfast Group plans to hold an Analyst/Investor Day, giving the market a dedicated forum to hear management updates and ask questions on the business outlook and capital priorities (company event).
SUN
AU$16.90
Suncorp Group
7D
-2.3%
1Y
-26.6%

SUN: Fair Value Will Remain Attractive As Profitability Expectations Hold Steady

Analysts have trimmed their price target for Suncorp Group to A$20.34 from A$20.54, reflecting updated assumptions around revenue growth, profit margins, and future P/E that are now slightly lower in their models. Valuation Changes Fair Value: trimmed slightly from A$20.54 to A$20.34, reflecting modestly lower model outputs.
AUB
AU$30.76
AUB Group
7D
-0.6%
1Y
1.3%

AUB: Steepening Yield Curve Will Drive Stronger Medium Term Earnings Power

Analysts have modestly reduced their price target for AUB Group, trimming expectations by a few dollars per share to reflect recent underwhelming quarterly results, including net interest margin pressure and softer loan growth, while still acknowledging a supportive medium term backdrop. Analyst Commentary Analyst views on AUB Group currently reflect a balanced mix of optimism around the medium term setup and caution around near term execution risks, particularly in light of recent quarterly softness.
NHF
AU$6.68
nib holdings
7D
-1.8%
1Y
21.9%