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Australian (ASX) Insurance Industry Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies10
  • 7D0.6%
  • 3M12.6%
  • 1Y1.2%
  • YTD11.3%

Over the last 7 days, the Insurance industry has remained flat, although notably Generation Development Group declined by 6.5%. Furthermore, the industry has been flat for the past year as well. Earnings are forecast to grow by 5.6% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026AU$107.3bAU$77.1bAU$6.3b20.3x17.1x1.4x
Thu, 18 Jun 2026AU$101.9bAU$76.9bAU$6.3b19.8x16.2x1.3x
Sat, 16 May 2026AU$97.5bAU$76.5bAU$6.2b17.2x15.7x1.3x
Mon, 13 Apr 2026AU$93.6bAU$76.8bAU$6.3b16.9x14.9x1.2x
Wed, 11 Mar 2026AU$86.2bAU$76.6bAU$6.2b15.8x13.8x1.1x
Fri, 06 Feb 2026AU$94.7bAU$82.1bAU$7.0b17.8x13.6x1.2x
Sun, 04 Jan 2026AU$96.7bAU$83.5bAU$7.1b18x13.6x1.2x
Tue, 02 Dec 2025AU$94.6bAU$84.3bAU$7.2b18.1x13.2x1.1x
Thu, 30 Oct 2025AU$102.2bAU$84.0bAU$7.1b20.3x14.3x1.2x
Sat, 27 Sep 2025AU$102.2bAU$84.4bAU$7.2b19.5x14.2x1.2x
Mon, 25 Aug 2025AU$108.5bAU$84.3bAU$7.0b20.9x15.4x1.3x
Wed, 23 Jul 2025AU$106.1bAU$81.9bAU$6.4b20.9x16.7x1.3x
Fri, 20 Jun 2025AU$109.4bAU$82.1bAU$6.4b19.2x17.2x1.3x
Sun, 18 May 2025AU$106.1bAU$82.5bAU$6.4b20.8x16.6x1.3x
Tue, 15 Apr 2025AU$97.7bAU$83.0bAU$6.4b19.7x15.2x1.2x
Thu, 13 Mar 2025AU$96.0bAU$83.1bAU$6.4b19.7x14.9x1.2x
Sat, 08 Feb 2025AU$102.6bAU$80.0bAU$5.6b24.2x18.3x1.3x
Mon, 06 Jan 2025AU$99.6bAU$80.4bAU$5.2b26.7x19.3x1.2x
Wed, 04 Dec 2024AU$100.9bAU$78.9bAU$5.0b27.3x20x1.3x
Fri, 01 Nov 2024AU$90.3bAU$78.4bAU$5.0b25.4x18x1.2x
Sun, 29 Sep 2024AU$91.5bAU$77.1bAU$4.9b26.6x18.5x1.2x
Tue, 27 Aug 2024AU$91.9bAU$77.3bAU$5.0b34.7x18.5x1.2x
Thu, 25 Jul 2024AU$92.3bAU$77.5bAU$5.2b22.4x17.7x1.2x
Sat, 22 Jun 2024AU$91.4bAU$77.2bAU$5.2b21.2x17.6x1.2x
Mon, 20 May 2024AU$88.2bAU$77.0bAU$5.2b19.9x17x1.1x
Wed, 17 Apr 2024AU$88.1bAU$84.6bAU$5.3b20x16.7x1x
Fri, 15 Mar 2024AU$88.2bAU$83.3bAU$5.2b20.1x16.9x1.1x
Sun, 11 Feb 2024AU$84.7bAU$64.7bAU$4.7b19.7x18.1x1.3x
Tue, 09 Jan 2024AU$79.8bAU$64.1bAU$4.6b19.2x17.2x1.2x
Thu, 07 Dec 2023AU$80.2bAU$64.5bAU$4.7b19.3x17.2x1.2x
Sat, 04 Nov 2023AU$78.7bAU$65.0bAU$4.7b18.8x16.8x1.2x
Mon, 02 Oct 2023AU$79.6bAU$65.0bAU$4.7b18.4x16.9x1.2x
Wed, 30 Aug 2023AU$77.2bAU$64.7bAU$4.7b25x16.4x1.2x
Fri, 28 Jul 2023AU$81.7bAU$56.2bAU$3.4b30.4x24.3x1.5x
Price to Earnings Ratio

24.3x


Total Market Cap: AU$81.7bTotal Earnings: AU$3.4bTotal Revenue: AU$56.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 16.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Australian Insurance industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 16.6x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.4x.
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-0.28%
Financials0.21%
Insurance0.64%
Insurance Brokers1.25%
Life and Health Insurance1.03%
Property and Casualty Insurance0.47%
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 29.6x.
    • Analysts are expecting annual earnings growth of 12.9%, 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 close to its 3-year average of 14.6x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 13% 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 3.5% 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
SUN Suncorp GroupAU$19.151.2%
+AU$233.2m		-5.8%PE20.6x
MPL Medibank PrivateAU$5.161.6%
+AU$220.3m		2.8%PE30.7x
IAG Insurance Australia GroupAU$8.420.8%
+AU$163.3m		0.4%PE18.1x
NHF nib holdingsAU$7.442.2%
+AU$78.1m		1.8%PE18.6x
SDF Steadfast GroupAU$5.251.2%
+AU$66.6m		-11.6%PE16.4x

Latest News

QBE
AU$25.45
QBE Insurance Group
7D
-0.08%
1Y
12.1%
SDF
AU$5.25
Steadfast Group
7D
1.2%
1Y
-11.6%
IAG
AU$8.42
Insurance Australia Group
7D
0.8%
1Y
0.4%
SUN
AU$19.15
Suncorp Group
7D
1.2%
1Y
-5.8%
Narrative Update • Jul 07

SUN: Future Returns Will Rely On Reinsurance Cover And Steady Capital Returns

Analysts lifted their Suncorp Group price target from A$18.79 to A$19.19, citing expectations that underlying margins will sit within the 10% to 12% target range and support solid ROTE, while also highlighting that the current valuation is closer to historical averages. What’s in the News for Suncorp Group Suncorp Group shares have risen for two consecutive days, with trading outperforming the broader Australian share market and the financial sector as attention builds ahead of the full-year FY26 update on 12 August.
MPL
AU$5.16
Medibank Private
7D
1.6%
1Y
2.8%
New Narrative • Jul 06

Medibank Private Limited. Quality Business With No Margin Of Safety!

Price A$5.00 · Mkt cap ~A$13.8bn · as of 6 Jul 2026 · FY ends 30 June · 52-wk A$4.10–5.26 · AUD Franchise Score: 15 / 22 Rating: High-B Deep-value (operative): WATCH Compounder: WATCH Operative call: WATCH at A$5.00 — a genuinely high-quality, net-cash, #1-share regulated oligopolist, but priced for its quality (≈22× forward underlying EPS, ~30× statutory, 5.9× book, 7.5× tangible book) with no margin of safety and negligible asset floor. The compounder lens also reads WATCH (flat-multiple owner return ~8% cash / ~10% grossed-up, below the 12–15% hurdle).
GDG
AU$3.48
Generation Development Group
7D
-6.5%
1Y
-35.4%
Narrative Update • Jul 02

GDG: Strong FY2025 Performance And Watchlist Status Will Shape Future Pricing

Analysts have reduced their price target for Generation Development Group to A$4.06 from A$5.47, citing updated assumptions for discount rates, revenue trends, profit margins, and a lower future P/E multiple. What’s in the News for Generation Development Group Generation Development Group reported record financial performance for FY2025, with the company highlighted for strong results supported by its diversified financial services operations.
NHF
AU$7.44
nib holdings
7D
2.2%
1Y
1.8%
AUB
AU$29.29
AUB Group
7D
1.4%
1Y
-13.9%
Narrative Update • Jun 22

AUB: Sector M&A Momentum Will Support Future Repricing Potential

Analysts have inched up their fair value estimate for AUB Group, lifting the implied price target from about A$34.33 to A$34.34 as they fine tune assumptions around discount rates, revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent tweaks to fair value for AUB Group reflect relatively small numerical changes, but they still offer clues about how analysts are thinking about the stock's balance between execution risk, growth assumptions and valuation support.
NOL
AU$1.19
NobleOak Life
7D
-0.4%
1Y
-15.6%