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Australian (ASX) Insurance Industry Analysis

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies10
  • 7D-3.2%
  • 3M9.8%
  • 1Y-13.5%
  • YTD-1.5%

Over the last 7 days, the Insurance industry has dropped 2.1%, driven by a pullback from QBE Insurance Group of 4.2%. However, the industry is down 13% over the past year. Earnings are forecast to grow by 7.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026AU$95.0bAU$76.5bAU$6.2b18.2x15.3x1.2x
Sat, 02 May 2026AU$96.1bAU$76.3bAU$6.2b17.6x15.5x1.3x
Mon, 30 Mar 2026AU$92.0bAU$77.6bAU$6.4b16.7x14.5x1.2x
Wed, 25 Feb 2026AU$89.7bAU$76.8bAU$6.3b16.2x14.2x1.2x
Fri, 23 Jan 2026AU$93.7bAU$83.0bAU$7.1b18.1x13.3x1.1x
Sun, 21 Dec 2025AU$96.0bAU$83.9bAU$7.1b18.2x13.5x1.1x
Tue, 18 Nov 2025AU$100.6bAU$84.4bAU$7.2b18.4x14x1.2x
Thu, 16 Oct 2025AU$103.8bAU$84.4bAU$7.2b20.1x14.5x1.2x
Sat, 13 Sep 2025AU$105.9bAU$83.7bAU$7.1b19.9x14.9x1.3x
Mon, 11 Aug 2025AU$105.6bAU$82.5bAU$6.7b21x15.8x1.3x
Wed, 09 Jul 2025AU$107.3bAU$81.7bAU$6.3b19.8x16.9x1.3x
Fri, 06 Jun 2025AU$109.7bAU$81.9bAU$6.4b20.1x17.3x1.3x
Sun, 04 May 2025AU$102.6bAU$82.2bAU$6.4b19.5x16.1x1.2x
Tue, 01 Apr 2025AU$100.0bAU$83.3bAU$6.5b20.3x15.5x1.2x
Thu, 27 Feb 2025AU$99.3bAU$82.4bAU$6.4b20.7x15.6x1.2x
Sat, 25 Jan 2025AU$101.6bAU$79.8bAU$5.1b26.8x19.9x1.3x
Mon, 23 Dec 2024AU$96.7bAU$80.2bAU$5.1b25.7x18.8x1.2x
Wed, 20 Nov 2024AU$98.8bAU$78.9bAU$5.0b27x19.6x1.3x
Fri, 18 Oct 2024AU$90.1bAU$77.8bAU$5.0b25.7x18.1x1.2x
Sun, 15 Sep 2024AU$92.6bAU$78.1bAU$5.0b25.5x18.4x1.2x
Tue, 13 Aug 2024AU$91.2bAU$78.4bAU$5.8b22.6x15.6x1.2x
Thu, 11 Jul 2024AU$91.3bAU$76.8bAU$5.2b22.2x17.6x1.2x
Sat, 08 Jun 2024AU$91.4bAU$77.2bAU$5.2b20.6x17.6x1.2x
Mon, 06 May 2024AU$87.1bAU$77.4bAU$5.2b20.3x16.7x1.1x
Wed, 03 Apr 2024AU$89.7bAU$84.0bAU$5.3b20.4x17.1x1.1x
Fri, 01 Mar 2024AU$85.8bAU$84.0bAU$5.3b19.7x16.3x1x
Sun, 28 Jan 2024AU$82.6bAU$64.5bAU$4.7b19.8x17.7x1.3x
Tue, 26 Dec 2023AU$78.1bAU$63.7bAU$4.6b18.5x16.9x1.2x
Thu, 23 Nov 2023AU$78.9bAU$64.5bAU$4.7b18.6x16.9x1.2x
Sat, 21 Oct 2023AU$79.7bAU$65.5bAU$4.7b19x16.8x1.2x
Mon, 18 Sep 2023AU$80.0bAU$65.0bAU$4.7b19.1x17x1.2x
Wed, 16 Aug 2023AU$79.1bAU$62.4bAU$4.3b31.3x18.6x1.3x
Fri, 14 Jul 2023AU$78.1bAU$56.1bAU$3.4b29.9x23.3x1.4x
Sun, 11 Jun 2023AU$76.3bAU$56.4bAU$3.4b31.1x22.7x1.4x
Price to Earnings Ratio

22.7x


Total Market Cap: AU$76.3bTotal Earnings: AU$3.4bTotal Revenue: AU$56.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 16.9x202420252026
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 16.9x.
  • 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 Market0.79%
Financials-0.97%
Insurance-3.15%
Insurance Brokers-2.61%
Property and Casualty Insurance-2.98%
Life and Health Insurance-4.02%
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 29.4x.
    • Analysts are expecting annual earnings growth of 15.0%, 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 14.8x.
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 4.7% 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$17.380.5%
+AU$95.6m		-17.9%PE18.7x
GDG Generation Development GroupAU$4.020.2%
+AU$4.0m		-30.7%PS3x

Latest News

AUB
AU$26.02
AUB Group
7D
-0.4%
1Y
-26.4%
IAG
AU$7.54
Insurance Australia Group
7D
-0.4%
1Y
-15.0%
NHF
AU$6.43
nib holdings
7D
-5.3%
1Y
-4.5%
Narrative Update • Jun 02

NHF: Higher Required Return And Firm P/E Profile Will Support Upside

Analysts have nudged their price target for nib holdings slightly higher to A$7.61 from A$7.59, reflecting updated views on revenue growth, profit margins and the stock’s future P/E profile. What's in the News No recent company specific news, periodical coverage or key developments were provided for nib holdings in the supplied sources.
SUN
AU$17.38
Suncorp Group
7D
0.5%
1Y
-17.9%
Narrative Update • Jun 02

SUN: Future Returns Will Rely On Leadership Continuity And Steady Dividend Delivery

Analysts have slightly reduced Suncorp Group's price target to around A$18.73 from about A$18.74, citing marginal adjustments to the discount rate, long term profit margin assumptions and the future P/E multiple used in their models. What's in the News Suncorp Group announced that CEO Steve Johnston will take a short period of temporary leave as he recuperates from a medical procedure.
SDF
AU$4.00
Steadfast Group
7D
-1.7%
1Y
-32.1%
Narrative Update • Jun 01

SDF: Dividend And Buyback Program Will Support Future Share Upside

Analysts have raised their price target for Steadfast Group slightly to A$5.97 from A$5.94, reflecting updated views on fair value, the discount rate and a modestly higher future P/E multiple, even as some peers see fewer near term catalysts for share price movements. What's in the News Steadfast Group reported higher revenue and profit in its latest half year results, supported by organic expansion across its broker network, a multi year hard premium cycle and ongoing merger and acquisition activity.
GDG
AU$4.02
Generation Development Group
7D
0.2%
1Y
-30.7%
Narrative Update • May 20

GDG: Higher Discount Rate And Strong Margins Will Support Future Upside

Analysts have adjusted their price target on Generation Development Group to A$5.96. They link the change to updated assumptions around revenue trends, profit margins, a slightly higher discount rate, and a future P/E multiple.
MPL
AU$4.72
Medibank Private
7D
-1.9%
1Y
-3.7%
QBE
AU$22.40
QBE Insurance Group
7D
-0.2%
1Y
-5.2%
NOL
AU$1.20
NobleOak Life
7D
-6.3%
1Y
-11.8%