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Australian (ASX) Insurance Industry Analysis

UpdatedApr 16, 2026
DataAggregated Company Financials
Companies10
  • 7D3.3%
  • 3M1.5%
  • 1Y-4.0%
  • YTD-1.1%

Over the last 7 days, the Insurance industry has risen 3.3%, driven by gains from QBE Insurance Group of 3.0%. In contrast, the industry has lost 4.0% in the last 12 months. 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, 16 Apr 2026AU$95.6bAU$76.6bAU$6.2b17x15.3x1.2x
Sat, 14 Mar 2026AU$89.1bAU$76.9bAU$6.3b16.1x14.2x1.2x
Mon, 09 Feb 2026AU$93.6bAU$81.9bAU$7.0b17x13.4x1.1x
Wed, 07 Jan 2026AU$95.2bAU$83.4bAU$7.1b18.3x13.4x1.1x
Fri, 05 Dec 2025AU$93.2bAU$83.9bAU$7.1b17.7x13.1x1.1x
Sun, 02 Nov 2025AU$100.6bAU$84.3bAU$7.2b18.9x14x1.2x
Tue, 30 Sep 2025AU$103.6bAU$84.2bAU$7.2b19.6x14.5x1.2x
Thu, 28 Aug 2025AU$107.2bAU$84.5bAU$7.1b19.2x15x1.3x
Sat, 26 Jul 2025AU$106.2bAU$81.6bAU$6.3b20.7x16.8x1.3x
Mon, 23 Jun 2025AU$109.8bAU$82.2bAU$6.4b19.3x17.2x1.3x
Wed, 21 May 2025AU$106.3bAU$82.4bAU$6.4b20.4x16.6x1.3x
Fri, 18 Apr 2025AU$99.7bAU$82.8bAU$6.4b20x15.5x1.2x
Sun, 16 Mar 2025AU$96.3bAU$82.9bAU$6.4b20.1x15x1.2x
Tue, 11 Feb 2025AU$102.4bAU$80.1bAU$5.6b24x18.2x1.3x
Thu, 09 Jan 2025AU$99.8bAU$80.5bAU$5.2b26.7x19.3x1.2x
Sat, 07 Dec 2024AU$100.6bAU$79.3bAU$5.1b26.7x19.8x1.3x
Mon, 04 Nov 2024AU$89.5bAU$78.5bAU$5.0b25.2x17.8x1.1x
Wed, 02 Oct 2024AU$90.7bAU$77.2bAU$4.9b25.9x18.3x1.2x
Fri, 30 Aug 2024AU$91.4bAU$77.3bAU$5.0b30.8x18.4x1.2x
Sun, 28 Jul 2024AU$93.1bAU$77.7bAU$5.2b22.7x17.8x1.2x
Tue, 25 Jun 2024AU$90.7bAU$77.2bAU$5.2b21x17.4x1.2x
Thu, 23 May 2024AU$88.6bAU$77.1bAU$5.2b20.3x17x1.1x
Sat, 20 Apr 2024AU$87.8bAU$84.5bAU$5.3b20.3x16.6x1x
Mon, 18 Mar 2024AU$88.3bAU$83.7bAU$5.2b20x16.9x1.1x
Wed, 14 Feb 2024AU$85.2bAU$64.7bAU$4.7b19.8x18.2x1.3x
Fri, 12 Jan 2024AU$78.7bAU$64.1bAU$4.6b19.3x17x1.2x
Sun, 10 Dec 2023AU$78.3bAU$64.5bAU$4.7b19x16.8x1.2x
Tue, 07 Nov 2023AU$78.4bAU$64.7bAU$4.7b18.5x16.7x1.2x
Thu, 05 Oct 2023AU$79.0bAU$65.4bAU$4.7b18.3x16.7x1.2x
Sat, 02 Sep 2023AU$79.8bAU$64.8bAU$4.7b19.9x17x1.2x
Mon, 31 Jul 2023AU$81.2bAU$56.7bAU$3.4b30.4x24x1.4x
Wed, 28 Jun 2023AU$78.3bAU$56.5bAU$3.4b30.9x23.2x1.4x
Fri, 26 May 2023AU$76.1bAU$56.9bAU$3.4b29.9x22.4x1.3x
Sun, 23 Apr 2023AU$74.7bAU$56.5bAU$3.4b33.8x22.2x1.3x
Price to Earnings Ratio

22.2x


Total Market Cap: AU$74.7bTotal Earnings: AU$3.4bTotal Revenue: AU$56.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 17.2x202420252026
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 15.3x which is lower than its 3-year average PE of 17.2x.
  • 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 Market0.27%
Financials0.79%
Insurance3.33%
Life and Health Insurance3.98%
Property and Casualty Insurance3.52%
Insurance Brokers0.31%
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 29.3x.
    • 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 15.1x.
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 4.8% 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
IAG Insurance Australia GroupAU$7.484.6%
+AU$773.6m		-5.4%PE16.1x
SUN Suncorp GroupAU$16.593.8%
+AU$635.0m		-13.9%PE17.9x
MPL Medibank PrivateAU$4.664.7%
+AU$578.3m		3.8%PE27.7x
QBE QBE Insurance GroupAU$22.911.5%
+AU$509.5m		7.5%PE11.6x
GDG Generation Development GroupAU$4.425.0%
+AU$84.0m		-10.5%PS3.3x

Latest News

AUB
AU$24.70
AUB Group
7D
2.1%
1Y
-20.9%

AUB: Capital Return And Equity Raising Will Support Future Upside

Analysts have trimmed their AUB Group price target slightly to A$34.68 from A$34.86, reflecting updated views on fair value, expected growth and margins, while keeping broader sector drivers in mind. Analyst Commentary Recent research activity around comparable financial groups points to a mix of optimism on growth drivers and some caution on valuation risk, which investors can apply as a lens when thinking about AUB Group.
CVW
AU$0.63
ClearView Wealth
7D
-0.8%
1Y
35.5%

CVW: Zurich Cash Proposal And Stable Assumptions Will Support Future Upside

Analysts have kept ClearView Wealth's fair value estimate steady at A$0.81 per share. They point to small adjustments in revenue growth, profit margin and future P/E assumptions as the key drivers behind the unchanged price target.
IAG
AU$7.48
Insurance Australia Group
7D
4.6%
1Y
-5.4%

IAG: Share Buyback And Margin Resilience Will Support Future Upside Potential

Analysts have slightly reduced their price target for Insurance Australia Group to A$8.05, reflecting updated views of somewhat weaker revenue growth and a modestly higher profit margin outlook. Together, these factors also contribute to a marginally lower forward P/E assumption.
QBE
AU$22.91
QBE Insurance Group
7D
1.5%
1Y
7.5%

QBE: Dividend And Governance Changes Will Shape A Balanced Return Outlook

Analysts have nudged their price target on QBE Insurance Group slightly higher to around A$23.25 from about A$23.09, reflecting updated views that pair a lower assumed revenue growth rate with a modestly stronger profit margin and a broadly similar future P/E outlook. What's in the News Shareholders have requisitioned resolutions for the 2026 Annual General Meeting in Sydney, focused on changes to QBE Insurance Group's constitution regarding how shareholder resolutions can express opinions, request information, or make advisory requests to the board about the exercise of directors’ powers, subject to relevance and legal limits (Key Developments).
SDF
AU$4.31
Steadfast Group
7D
0.9%
1Y
-24.4%

SDF: Dividend And New CFO Appointment Will Support Future Share Upside

Analysts have trimmed their price target for Steadfast Group slightly, with the updated fair value moving from A$5.96 to A$5.94. This reflects more cautious assumptions on profit margins and future P/E, even as long term revenue growth expectations remain steady.
NHF
AU$6.66
nib holdings
7D
2.6%
1Y
-2.6%

NHF: Steady Assumptions And Slightly Lower Future P/E Will Support Upside

Analysts have kept their fair value and key assumptions for nib holdings essentially unchanged, with only a small tweak to the implied future P/E multiple that feeds into their A$ price target. This reflects fine tuning rather than a major shift in view.
GDG
AU$4.42
Generation Development Group
7D
5.0%
1Y
-10.5%

GDG: Margin Outlook And Lower Revenue Decline Will Support Future Upside

Analysts have reduced their price target for Generation Development Group to A$8.47. This change reflects slightly less pessimistic revenue expectations, a marginally higher profit margin outlook and a modestly lower future P/E assumption.
SUN
AU$16.59
Suncorp Group
7D
3.8%
1Y
-13.9%

SUN: Future Upside Will Hinge On Earnings Delivery And Dividend Support

Analysts have made a small downward adjustment to Suncorp Group's assessed fair value to about A$18.18 per share, citing a minor refinement in profit margin and forward P/E assumptions, while also pointing to recent research that highlights what is viewed as a compelling valuation at current share levels. Analyst Commentary Recent commentary from Goldman Sachs, alongside the updated fair value of about A$18.18 per share, gives you a clearer view of how the market is framing Suncorp Group at current prices.
MPL
AU$4.66
Medibank Private
7D
4.7%
1Y
3.8%