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Australian (ASX) Insurance Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies10
  • 7D3.8%
  • 3M-6.3%
  • 1Y-7.5%
  • YTD-7.8%

Over the last 7 days, the Insurance industry has risen 3.8%, driven by gains in Insurance Australia Group and Suncorp Group of 9.4% and 8.4%, respectively. In the same time, Generation Development Group was down 11%. However, the industry is down 7.5% over the past year. As for the next few years, earnings are expected to grow by 6.7% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026AU$89.4bAU$76.8bAU$6.3b16.5x14.3x1.2x
Fri, 13 Feb 2026AU$88.4bAU$81.4bAU$6.9b17.1x12.8x1.1x
Sun, 11 Jan 2026AU$97.1bAU$83.5bAU$7.1b18.8x13.7x1.2x
Tue, 09 Dec 2025AU$93.3bAU$83.8bAU$7.1b17.4x13.1x1.1x
Thu, 06 Nov 2025AU$99.0bAU$84.7bAU$7.2b18.8x13.7x1.2x
Sat, 04 Oct 2025AU$103.8bAU$84.0bAU$7.1b19.7x14.5x1.2x
Mon, 01 Sep 2025AU$107.9bAU$84.3bAU$7.2b19.6x15x1.3x
Wed, 30 Jul 2025AU$108.0bAU$81.9bAU$6.4b20.5x17x1.3x
Fri, 27 Jun 2025AU$110.0bAU$81.7bAU$6.3b19.3x17.3x1.3x
Sun, 25 May 2025AU$107.2bAU$82.0bAU$6.4b21x16.9x1.3x
Tue, 22 Apr 2025AU$99.7bAU$82.4bAU$6.4b20x15.6x1.2x
Thu, 20 Mar 2025AU$98.6bAU$82.9bAU$6.4b19.6x15.3x1.2x
Sat, 15 Feb 2025AU$99.4bAU$81.3bAU$6.4b20.6x15.7x1.2x
Mon, 13 Jan 2025AU$98.9bAU$80.8bAU$5.2b26.1x19.1x1.2x
Wed, 11 Dec 2024AU$99.3bAU$79.4bAU$5.1b26.4x19.5x1.3x
Fri, 08 Nov 2024AU$94.4bAU$78.1bAU$5.0b26.1x18.9x1.2x
Sun, 06 Oct 2024AU$89.1bAU$77.3bAU$4.9b25.2x18.1x1.2x
Tue, 03 Sep 2024AU$93.1bAU$77.8bAU$5.0b26.7x18.6x1.2x
Thu, 01 Aug 2024AU$96.2bAU$78.0bAU$5.3b23.4x18.3x1.2x
Sat, 29 Jun 2024AU$92.8bAU$77.2bAU$5.2b22.4x17.8x1.2x
Mon, 27 May 2024AU$88.1bAU$77.3bAU$5.2b20.2x16.9x1.1x
Wed, 24 Apr 2024AU$88.2bAU$78.2bAU$5.3b20.4x16.7x1.1x
Fri, 22 Mar 2024AU$88.3bAU$83.4bAU$5.2b20.2x16.9x1.1x
Sun, 18 Feb 2024AU$83.5bAU$81.0bAU$4.9b19.7x16.9x1x
Tue, 16 Jan 2024AU$79.5bAU$64.2bAU$4.6b19.6x17.1x1.2x
Thu, 14 Dec 2023AU$78.1bAU$64.6bAU$4.7b19.3x16.7x1.2x
Sat, 11 Nov 2023AU$78.3bAU$65.3bAU$4.7b18.6x16.6x1.2x
Mon, 09 Oct 2023AU$78.7bAU$65.2bAU$4.7b18.8x16.7x1.2x
Wed, 06 Sep 2023AU$79.1bAU$65.3bAU$4.7b19.7x16.8x1.2x
Fri, 04 Aug 2023AU$80.7bAU$57.1bAU$3.4b31.1x23.7x1.4x
Sun, 02 Jul 2023AU$79.9bAU$56.6bAU$3.4b32.1x23.6x1.4x
Tue, 30 May 2023AU$76.6bAU$57.0bAU$3.4b31.2x22.5x1.3x
Thu, 27 Apr 2023AU$75.3bAU$56.7bAU$3.4b34.9x22.3x1.3x
Sat, 25 Mar 2023AU$69.3bAU$56.6bAU$3.4b36.5x20.5x1.2x
Price to Earnings Ratio

20.5x


Total Market Cap: AU$69.3bTotal Earnings: AU$3.4bTotal Revenue: AU$56.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 17.3x202420252026
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 14.3x which is lower than its 3-year average PE of 17.3x.
  • 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 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-1.20%
Financials1.15%
Insurance3.82%
Property and Casualty Insurance4.88%
Life and Health Insurance2.30%
Insurance Brokers-1.43%
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 29.1x.
    • Analysts are expecting annual earnings growth of 14.8%, 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 below its 3-year average of 15.2x.
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 4.5% 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
IAG Insurance Australia GroupAU$7.259.4%
+AU$1.5b		-3.2%PE15.7x
SUN Suncorp GroupAU$15.718.4%
+AU$1.3b		-15.2%PE17.1x
MPL Medibank PrivateAU$4.274.1%
+AU$468.2m		-2.1%PE25.4x
QBE QBE Insurance GroupAU$20.660.8%
+AU$212.9m		-1.9%PE10.3x
NHF nib holdingsAU$6.103.2%
+AU$92.5m		-5.4%PE15.2x

Latest News

AUB
AU$23.83
AUB Group
7D
-0.7%
1Y
-17.9%

AUB: Future Margins And Accretive Acquisitions Will Support Upside

Analysts have nudged their AUB Group price target slightly higher to about A$34.86 from A$34.77. This reflects updated views on revenue growth, profit margins and future P/E assumptions.
CVW
AU$0.63
ClearView Wealth
7D
0.8%
1Y
34.0%

CVW: Takeover Scheme Will Support Higher Future Shareholder Returns

Analysts have reduced their A$ fair value estimate for ClearView Wealth from A$1.15 to A$0.81, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple. What's in the News Zurich Financial Services Australia Limited has entered into a scheme implementation deed to acquire ClearView Wealth Limited for approximately A$410 million in cash, valuing ClearView at about A$0.65 per share, subject to adjustments for any permitted dividends and a potential ticking fee (Key Developments).
QBE
AU$20.66
QBE Insurance Group
7D
0.8%
1Y
-1.9%

QBE: Upcoming Dividend Payout Will Shape Future Return Potential

Analysts have nudged their price target for QBE Insurance Group slightly higher to A$23.26 from A$23.11, reflecting updated assumptions on revenue growth, profit margins and future P/E expectations. What's in the News QBE Insurance Group declared a dividend of A$0.78 per share for the six months ended 31 December 2025, signalling a cash return tied to that reporting period (Key Developments).
IAG
AU$7.25
Insurance Australia Group
7D
9.4%
1Y
-3.2%

IAG: Share Buyback And Stable Margin Outlook Will Support Upside

Analysts have lifted their price target for Insurance Australia Group to A$8.23, reflecting updated assumptions for revenue, profit margin and forward P/E that remain broadly consistent with prior estimates. What's in the News The board authorized a new share buyback plan on February 12, 2026, indicating approval for capital to be directed to repurchasing shares (Key Developments).
SDF
AU$4.15
Steadfast Group
7D
-1.9%
1Y
-26.9%

SDF: Dividend Strength And New CFO Appointment Will Support Future Upside Potential

Analysts have trimmed their Steadfast Group price target to A$5.96 from A$6.31 as they update their views on fair value, revenue growth, profit margins and future P/E assumptions. What's in the News Hannah Lee has been appointed Chief Financial Officer of Steadfast Group, effective 24 February 2026, after serving as Interim CFO since 31 August 2025 and previously as Group Financial Controller (Key Developments).
GDG
AU$3.87
Generation Development Group
7D
-10.8%
1Y
-20.2%

GDG: Leadership Transition And Margin Outlook Will Support Future Upside

Analysts have lifted their price target on Generation Development Group from A$8.12 to A$8.47, citing updated assumptions for discount rates, revenue trends, profit margins and future P/E as the key drivers of the change. What's in the News Generation Development Group announced that Chief Financial Officer Terence Wong plans to step down at the conclusion of the 2026 financial year, remaining through the 1H FY26 reporting period and supporting the transition until the end of June 2026 (Key Developments).
NOL
AU$1.30
NobleOak Life
7D
1.6%
1Y
-13.0%
NHF
AU$6.10
nib holdings
7D
3.2%
1Y
-5.4%

NHF: Steady Discount Rate And Adjusted Assumptions Will Support Future Upside

Analysts have trimmed their price target on nib holdings by A$0.10, reflecting small tweaks to fair value assumptions, revenue growth forecasts, profit margin expectations and the future P/E multiple used in their models. Valuation Changes Fair Value: Trimmed slightly from A$7.71 to A$7.61.
SUN
AU$15.71
Suncorp Group
7D
8.4%
1Y
-15.2%

SUN: Upgraded Buy Rating And Dividend Outlook Will Support Future Confidence

Analysts have trimmed their fair value estimate for Suncorp Group from A$19.14 to A$18.21, citing updated assumptions on revenue growth, profit margins and future P/E, even as recent research highlights what is seen as a compelling valuation at current share levels. Analyst Commentary Recent research updates on Suncorp Group reflect a mix of optimism on valuation and caution around execution, which helps explain why some fair value estimates have been trimmed even as others see room for upside.
MPL
AU$4.27
Medibank Private
7D
4.1%
1Y
-2.1%