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Australian (ASX) Insurance Industry Analysis

UpdatedJun 17, 2026
DataAggregated Company Financials
Companies10
  • 7D3.6%
  • 3M13.8%
  • 1Y-6.9%
  • YTD4.8%

In the last week, the Insurance industry is up 3.6%, with Suncorp Group up 2.0%. In contrast, the industry has lost 6.9% in the last 12 months. Earnings are forecast to grow by 6.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 17 Jun 2026AU$101.0bAU$76.8bAU$6.3b19.4x16.1x1.3x
Fri, 15 May 2026AU$95.8bAU$76.2bAU$6.2b16.9x15.5x1.3x
Sun, 12 Apr 2026AU$93.7bAU$76.8bAU$6.3b16.9x15x1.2x
Tue, 10 Mar 2026AU$85.8bAU$77.0bAU$6.3b15.3x13.6x1.1x
Thu, 05 Feb 2026AU$93.3bAU$81.9bAU$7.0b17.7x13.4x1.1x
Sat, 03 Jan 2026AU$96.7bAU$83.5bAU$7.1b18x13.6x1.2x
Mon, 01 Dec 2025AU$96.0bAU$84.3bAU$7.2b18.2x13.4x1.1x
Wed, 29 Oct 2025AU$104.3bAU$84.2bAU$7.2b20.9x14.6x1.2x
Fri, 26 Sep 2025AU$101.4bAU$84.0bAU$7.1b19.8x14.2x1.2x
Sun, 24 Aug 2025AU$108.5bAU$84.3bAU$7.0b20.9x15.4x1.3x
Tue, 22 Jul 2025AU$106.6bAU$81.9bAU$6.4b20.9x16.8x1.3x
Thu, 19 Jun 2025AU$109.3bAU$82.0bAU$6.4b19.2x17.2x1.3x
Sat, 17 May 2025AU$106.1bAU$82.4bAU$6.4b20.8x16.6x1.3x
Mon, 14 Apr 2025AU$96.9bAU$83.1bAU$6.4b19.6x15x1.2x
Wed, 12 Mar 2025AU$96.4bAU$83.1bAU$6.4b19.8x15x1.2x
Fri, 07 Feb 2025AU$103.0bAU$80.1bAU$5.6b24.5x18.3x1.3x
Sun, 05 Jan 2025AU$99.6bAU$80.4bAU$5.2b26.7x19.3x1.2x
Tue, 03 Dec 2024AU$100.1bAU$78.9bAU$5.0b27.3x19.8x1.3x
Thu, 31 Oct 2024AU$90.3bAU$78.4bAU$5.0b25.4x18x1.2x
Sat, 28 Sep 2024AU$91.5bAU$77.2bAU$5.0b26.6x18.5x1.2x
Mon, 26 Aug 2024AU$92.8bAU$77.1bAU$5.0b34.7x18.6x1.2x
Wed, 24 Jul 2024AU$91.7bAU$77.3bAU$5.2b22.3x17.6x1.2x
Fri, 21 Jun 2024AU$90.4bAU$77.1bAU$5.2b21.1x17.4x1.2x
Sun, 19 May 2024AU$88.2bAU$77.0bAU$5.2b19.9x17x1.1x
Tue, 16 Apr 2024AU$88.1bAU$84.1bAU$5.3b20.2x16.7x1x
Thu, 14 Mar 2024AU$88.2bAU$83.4bAU$5.2b19.9x16.9x1.1x
Sat, 10 Feb 2024AU$84.7bAU$64.7bAU$4.7b19.7x18.1x1.3x
Mon, 08 Jan 2024AU$79.6bAU$64.0bAU$4.6b19.1x17.2x1.2x
Wed, 06 Dec 2023AU$79.0bAU$64.5bAU$4.7b18.8x16.9x1.2x
Fri, 03 Nov 2023AU$78.9bAU$65.0bAU$4.7b18.7x16.8x1.2x
Sun, 01 Oct 2023AU$79.6bAU$65.0bAU$4.7b18.4x16.9x1.2x
Tue, 29 Aug 2023AU$77.0bAU$64.8bAU$4.7b25x16.4x1.2x
Thu, 27 Jul 2023AU$80.7bAU$56.3bAU$3.4b30.4x24x1.4x
Sat, 24 Jun 2023AU$79.3bAU$56.6bAU$3.4b31.3x23.5x1.4x
Price to Earnings Ratio

23.5x


Total Market Cap: AU$79.3bTotal Earnings: AU$3.4bTotal Revenue: AU$56.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 16.8x202420252026
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 16.8x.
  • 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 Market3.44%
Financials2.68%
Insurance3.57%
Insurance Brokers20.98%
Property and Casualty Insurance2.55%
Life and Health Insurance0.21%
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 29.5x.
    • Analysts are expecting annual earnings growth of 14.7%, 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 14.7x.
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$18.632.0%
+AU$381.6m		-12.9%PE20x
IAG Insurance Australia GroupAU$7.991.5%
+AU$280.0m		-10.3%PE17.2x
QBE QBE Insurance GroupAU$23.570.6%
+AU$224.0m		1.2%PE11.7x
NHF nib holdingsAU$6.950.9%
+AU$29.3m		6.6%PE17.4x
MPL Medibank PrivateAU$4.850.2%
+AU$27.5m		-0.6%PE28.8x

Latest News

NHF
AU$6.95
nib holdings
7D
0.9%
1Y
6.6%
Narrative Update • Jun 16

NHF: Travel Portfolio Sale And Firm P/E Profile Will Shape Future Upside

Analysts have slightly increased their price target for nib holdings to A$7.65 from A$7.61, reflecting small model adjustments to fair value, revenue growth assumptions, profit margins and expected future P/E multiples. What's in the News for nib holdings Allianz Partners has agreed to acquire a large portion of nib holdings' Australian and New Zealand travel insurance portfolio for up to A$50 million, subject to regulatory approval.
SUN
AU$18.63
Suncorp Group
7D
2.0%
1Y
-12.9%
Narrative Update • Jun 16

SUN: Future Returns Will Rely On Breakout Momentum And Steady Dividend Delivery

Analysts have made a small upward adjustment to the Suncorp Group price target, lifting it by about A$0.06 to reflect minor updates to fair value, discount rate, revenue growth, profit margin and forward P/E assumptions. What’s in the News for Suncorp Group Suncorp Group shares recently confirmed a bullish Inverse Head & Shoulders breakout on the daily chart, with the move above a key neckline level pointing to a new medium term technical trend, according to recent technical analysis reports.
SDF
AU$5.25
Steadfast Group
7D
-2.4%
1Y
-10.6%
Narrative Update • Jun 16

SDF: Takeover Bid And Capital Returns Will Support Future Share Upside

Analysts have trimmed their Steadfast Group valuation, with the implied fair value easing from A$5.97 to A$5.81 as small adjustments to revenue growth, profit margin and future P/E expectations feed into a slightly lower price target. What’s in the News for Steadfast Group Steadfast Group received a conditional, non-binding takeover proposal valued at about A$7.7b, or A$6 per share, from an Amwins Group and Dragoneer Investment Group consortium.
MPL
AU$4.85
Medibank Private
7D
0.2%
1Y
-0.6%
Narrative Update • Jun 12

MPL: Future Margins And P/E Assumptions Point To Fairly Balanced Outlook

Analysts have slightly reduced their Medibank Private price target to A$5.03, reflecting updated assumptions around discount rates, margins and future P/E multiples, while keeping the overall narrative broadly unchanged. What's in the News There are currently no recent Medibank Private specific news items provided in the source set, so price target changes are being assessed primarily against internal analyst assumptions rather than new company announcements.
QBE
AU$23.57
QBE Insurance Group
7D
0.6%
1Y
1.2%
AUB
AU$28.61
AUB Group
7D
-0.3%
1Y
-18.9%
IAG
AU$7.99
Insurance Australia Group
7D
1.5%
1Y
-10.3%
Narrative Update • Jun 09

IAG: Dividend Strength And Greensill Settlement Will Shape Measured Future Upside

Analysts have trimmed their price target for Insurance Australia Group to A$8.32, reflecting revised assumptions for revenue growth and profit margins while keeping the long run P/E outlook broadly unchanged after the recent downgrade in Street research. What's in the News Income focused coverage highlights Insurance Australia Group as a defensive dividend payer, pointing to premium income, the RACQI home and motor franchise in Queensland and a capital position described as strong as support for its income profile.
CVW
AU$0.64
ClearView Wealth
7D
0.4%
1Y
40.7%
Narrative Update • Jun 05

CVW: Zurich Scheme And Expert Support Will Drive Future Upside Potential

Analysts have kept their A$ fair value estimate for ClearView Wealth unchanged, but have slightly adjusted assumptions for revenue growth, profit margins and future P/E. This feeds into a marginally refined A$ price target that reflects updated expectations for the stock's earnings profile.
GDG
AU$3.75
Generation Development Group
7D
-6.0%
1Y
-34.6%
Narrative Update • Jun 04

GDG: Growing Demand For Tax Efficient Bonds Will Support Future Upside

Analysts have trimmed their price targets for Generation Development Group to A$6.80 from A$8.47. This reflects updated assumptions for slightly higher discount rates, softer revenue growth, lower profit margins and a reduced future P/E multiple.
NOL
AU$1.24
NobleOak Life
7D
4.7%
1Y
-17.1%