Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Insurance Industry Analysis

UpdatedDec 23, 2025
DataAggregated Company Financials
Companies10
  • 7D1.2%
  • 3M-7.0%
  • 1Y-2.9%
  • YTD-3.0%

The Insurance industry is up 1.2% in the last week, with QBE Insurance Group up 1.8%. Overall in the last year, the industry is flat. Earnings are forecast to grow by 1.3% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025AU$96.0bAU$83.8bAU$7.1b17.9x13.5x1.1x
Fri, 21 Nov 2025AU$98.0bAU$84.7bAU$7.2b18x13.6x1.2x
Sun, 19 Oct 2025AU$98.8bAU$84.5bAU$7.2b19.7x13.7x1.2x
Tue, 16 Sep 2025AU$105.5bAU$83.7bAU$7.1b19.7x14.8x1.3x
Thu, 14 Aug 2025AU$104.7bAU$82.9bAU$6.8b20.7x15.5x1.3x
Sat, 12 Jul 2025AU$107.5bAU$81.6bAU$6.3b20.4x17x1.3x
Mon, 09 Jun 2025AU$109.3bAU$82.0bAU$6.4b20.3x17.2x1.3x
Wed, 07 May 2025AU$102.6bAU$82.2bAU$6.4b19.8x16.1x1.2x
Fri, 04 Apr 2025AU$100.5bAU$82.8bAU$6.4b20.3x15.6x1.2x
Sun, 02 Mar 2025AU$99.8bAU$83.4bAU$6.4b18.9x15.6x1.2x
Tue, 28 Jan 2025AU$101.6bAU$79.8bAU$5.1b26.8x19.9x1.3x
Thu, 26 Dec 2024AU$98.9bAU$80.3bAU$5.2b26.3x19.2x1.2x
Sat, 23 Nov 2024AU$98.6bAU$78.8bAU$5.0b26.5x19.6x1.3x
Mon, 21 Oct 2024AU$91.1bAU$77.8bAU$5.0b25.5x18.4x1.2x
Wed, 18 Sep 2024AU$93.2bAU$77.9bAU$5.0b25.6x18.6x1.2x
Fri, 16 Aug 2024AU$92.0bAU$78.3bAU$5.8b23.1x15.8x1.2x
Sun, 14 Jul 2024AU$91.3bAU$76.6bAU$5.2b22.2x17.7x1.2x
Tue, 11 Jun 2024AU$91.4bAU$77.5bAU$5.2b20.6x17.5x1.2x
Thu, 09 May 2024AU$88.3bAU$77.6bAU$5.2b19.9x16.9x1.1x
Sat, 06 Apr 2024AU$89.0bAU$83.5bAU$5.2b20.3x17x1.1x
Mon, 04 Mar 2024AU$86.1bAU$83.9bAU$5.2b19.6x16.4x1x
Wed, 31 Jan 2024AU$81.4bAU$64.4bAU$4.7b20x17.5x1.3x
Fri, 29 Dec 2023AU$78.2bAU$63.6bAU$4.6b18.7x17x1.2x
Sun, 26 Nov 2023AU$79.6bAU$64.4bAU$4.7b18.8x17.1x1.2x
Tue, 24 Oct 2023AU$78.6bAU$65.5bAU$4.7b18.9x16.6x1.2x
Thu, 21 Sep 2023AU$80.1bAU$64.8bAU$4.7b19.1x17.1x1.2x
Sat, 19 Aug 2023AU$78.1bAU$62.9bAU$4.3b29.8x18.1x1.2x
Mon, 17 Jul 2023AU$78.2bAU$56.1bAU$3.4b30.3x23.3x1.4x
Wed, 14 Jun 2023AU$76.4bAU$56.3bAU$3.4b31.1x22.7x1.4x
Fri, 12 May 2023AU$74.8bAU$56.4bAU$3.4b29.9x22.2x1.3x
Sun, 09 Apr 2023AU$73.5bAU$56.5bAU$3.4b35x21.8x1.3x
Tue, 07 Mar 2023AU$73.3bAU$56.4bAU$3.4b34.7x21.8x1.3x
Thu, 02 Feb 2023AU$70.0bAU$52.4bAU$2.4b34.5x29x1.3x
Sat, 31 Dec 2022AU$68.5bAU$53.2bAU$2.4b33.1x28x1.3x
Price to Earnings Ratio

28x


Total Market Cap: AU$68.5bTotal Earnings: AU$2.4bTotal Revenue: AU$53.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 18.3x202320242025
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 13.5x which is lower than its 3-year average PE of 18.3x.
  • 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 Market0.95%
Financials0.79%
Insurance1.16%
Property and Casualty Insurance1.30%
Insurance Brokers1.22%
Life and Health Insurance0.66%
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 28.9x.
    • Analysts are expecting annual earnings growth of 10.5%, 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 16.3x.
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
QBE QBE Insurance GroupAU$20.103.1%
+AU$935.5m		3.0%PE10.4x
IAG Insurance Australia GroupAU$8.041.8%
+AU$330.3m		-5.4%PE14x
SUN Suncorp GroupAU$17.821.7%
+AU$311.6m		-21.7%PE12.3x
SDF Steadfast GroupAU$5.272.5%
+AU$144.2m		-10.5%PE17.5x
MPL Medibank PrivateAU$4.830.8%
+AU$110.2m		26.8%PE26.6x

Latest News

GDG
AU$5.92
Generation Development Group
7D
2.4%
1Y
61.3%

GDG: Governance Refresh And Strong Margins Will Support Future Upside

Analysts have slightly trimmed their price target on Generation Development Group, citing only marginally softer revenue expectations, which are offset by a modestly improved profit margin profile and a lower implied future P/E multiple. This has resulted in a revised fair value estimate of approximately $7.52 per share, down from about $7.65 previously.
SUN
AU$17.82
Suncorp Group
7D
1.7%
1Y
-21.7%
IAG
AU$8.04
Insurance Australia Group
7D
1.8%
1Y
-5.4%

IAG: Future RACQ Contribution Will Support Earnings With Balanced Medium-Term Outlook

Analysts have trimmed their price target for Insurance Australia Group by approximately A$0.11 per share, reflecting slightly softer assumptions for long term revenue growth and profit margins while keeping the discount rate and future valuation multiples broadly unchanged. What's in the News Raised fiscal 2026 guidance for gross written premium growth to approximately 10%, up from a low to mid single digit range.
QBE
AU$20.10
QBE Insurance Group
7D
3.1%
1Y
3.0%

QBE: New Finance Leadership Will Support Stronger Margins And Future Returns

Analysts have nudged their price target for QBE Insurance Group slightly lower to about $22.27 per share from roughly $22.33, reflecting modestly softer fair value assumptions even as they acknowledge incremental improvements in revenue trajectory and profit margins. What's in the News QBE Insurance Group appointed long serving executive Chris Killourhy as Group Chief Financial Officer, effective January 1, 2026, subject to regulatory approvals (company announcement) Killourhy brings almost 25 years of insurance and finance industry experience, including senior roles across QBE's global operations such as Chief Actuary and CFO for multiple divisions (company announcement) The incoming CFO will be based in Sydney, report directly to Group CEO Andrew Horton, and join the Group Executive Committee, reinforcing leadership depth in QBE's global finance function (company announcement) Valuation Changes Fair Value: Reduced slightly to about A$22.27 per share from roughly A$22.33, indicating a modest downgrade in intrinsic valuation.
SDF
AU$5.27
Steadfast Group
7D
2.5%
1Y
-10.5%

SDF: CEO Return And Margin Outlook Will Support Future Momentum

Analysts have slightly reduced their price target for Steadfast Group, reflecting a modest recalibration of fair value. This adjustment accounts for only incremental improvements in revenue growth expectations, alongside a small easing in forecast profit margins and future valuation multiples.
CVW
AU$0.55
ClearView Wealth
7D
5.8%
1Y
52.8%

CVW: Expanding Profit Margins Are Expected To Drive Stronger Future Returns

Analysts have raised their price target on ClearView Wealth from 1.03 to 1.15, citing improving revenue growth, expanding profit margins, and a modestly higher justified future P/E multiple as key drivers of the upward revision. Valuation Changes The fair value estimate has increased from A$1.03 to A$1.15, representing a modest upward reassessment of intrinsic value.
MPL
AU$4.83
Medibank Private
7D
0.8%
1Y
26.8%
AUB
AU$30.84
AUB Group
7D
1.0%
1Y
-0.7%

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

Analysts have trimmed their price target on AUB Group to approximately $38.47 from about $42.32, citing slightly underwhelming recent performance but maintaining a constructive view on improved growth and margin dynamics as the operating backdrop becomes more favorable. Analyst Commentary Analyst sentiment around AUB Group remains mixed but constructive, with the recent reduction in the consensus price target reflecting near term execution noise rather than a fundamental shift in the long term investment case.
NOL
AU$1.42
NobleOak Life
7D
-3.4%
1Y
-11.8%