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Australian (ASX) Insurance Industry Analysis

UpdatedMay 04, 2026
DataAggregated Company Financials
Companies10
  • 7D1.6%
  • 3M3.2%
  • 1Y-6.0%
  • YTD-0.5%

Over the last 7 days, the Insurance industry has risen 1.6%, driven by gains from Insurance Australia Group of 4.4%. However, the industry is down 6.0% over the past year. Looking forward, earnings are forecast to grow by 7.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 04 May 2026AU$96.1bAU$76.4bAU$6.2b17.6x15.5x1.3x
Wed, 01 Apr 2026AU$91.5bAU$77.7bAU$6.4b16.8x14.4x1.2x
Fri, 27 Feb 2026AU$89.7bAU$76.7bAU$6.3b16x14.4x1.2x
Sun, 25 Jan 2026AU$92.6bAU$82.5bAU$7.0b18.1x13.2x1.1x
Tue, 23 Dec 2025AU$96.0bAU$83.8bAU$7.1b17.9x13.5x1.1x
Thu, 20 Nov 2025AU$98.1bAU$84.6bAU$7.2b18x13.6x1.2x
Sat, 18 Oct 2025AU$98.8bAU$84.7bAU$7.2b19.7x13.7x1.2x
Mon, 15 Sep 2025AU$105.9bAU$83.7bAU$7.1b19.9x14.9x1.3x
Wed, 13 Aug 2025AU$105.4bAU$82.7bAU$6.7b20.8x15.7x1.3x
Fri, 11 Jul 2025AU$107.5bAU$81.6bAU$6.3b20.4x17x1.3x
Sun, 08 Jun 2025AU$109.3bAU$82.0bAU$6.4b20.3x17.2x1.3x
Tue, 06 May 2025AU$102.2bAU$82.0bAU$6.4b19.9x16x1.2x
Thu, 03 Apr 2025AU$101.4bAU$83.0bAU$6.4b20x15.7x1.2x
Sat, 01 Mar 2025AU$99.8bAU$83.3bAU$6.4b18.9x15.6x1.2x
Mon, 27 Jan 2025AU$101.6bAU$79.8bAU$5.1b26.8x19.9x1.3x
Wed, 25 Dec 2024AU$98.9bAU$80.2bAU$5.1b26.3x19.2x1.2x
Fri, 22 Nov 2024AU$98.2bAU$78.7bAU$5.0b26.6x19.5x1.2x
Sun, 20 Oct 2024AU$91.1bAU$77.8bAU$5.0b25.5x18.4x1.2x
Tue, 17 Sep 2024AU$93.2bAU$77.9bAU$5.0b25.5x18.6x1.2x
Thu, 15 Aug 2024AU$92.0bAU$78.2bAU$5.8b22.9x15.8x1.2x
Sat, 13 Jul 2024AU$91.3bAU$76.6bAU$5.2b22.2x17.6x1.2x
Mon, 10 Jun 2024AU$91.4bAU$77.6bAU$5.2b20.6x17.5x1.2x
Wed, 08 May 2024AU$88.2bAU$77.4bAU$5.2b20.2x16.9x1.1x
Fri, 05 Apr 2024AU$89.7bAU$83.4bAU$5.2b20.2x17.2x1.1x
Sun, 03 Mar 2024AU$86.1bAU$83.8bAU$5.2b19.6x16.4x1x
Tue, 30 Jan 2024AU$82.5bAU$64.4bAU$4.7b19.9x17.7x1.3x
Thu, 28 Dec 2023AU$77.8bAU$63.6bAU$4.6b18.5x16.9x1.2x
Sat, 25 Nov 2023AU$79.6bAU$64.5bAU$4.7b18.8x17.1x1.2x
Mon, 23 Oct 2023AU$79.7bAU$65.5bAU$4.7b19x16.8x1.2x
Wed, 20 Sep 2023AU$79.1bAU$64.9bAU$4.7b19x16.9x1.2x
Fri, 18 Aug 2023AU$78.3bAU$62.7bAU$4.3b29.8x18.2x1.2x
Sun, 16 Jul 2023AU$78.2bAU$56.1bAU$3.4b30.3x23.3x1.4x
Tue, 13 Jun 2023AU$76.3bAU$56.4bAU$3.4b31.1x22.7x1.4x
Thu, 11 May 2023AU$75.0bAU$56.4bAU$3.4b31.9x22.3x1.3x
Price to Earnings Ratio

22.3x


Total Market Cap: AU$75.0bTotal Earnings: AU$3.4bTotal Revenue: AU$56.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 17x202420252026
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 17.0x.
  • 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-0.54%
Financials-0.24%
Insurance1.62%
Life and Health Insurance2.35%
Property and Casualty Insurance1.78%
Insurance Brokers-1.35%
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 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 close to its 3-year average of 15.0x.
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 5.1% 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$7.564.4%
+AU$726.0m		-9.2%PE16.3x
QBE QBE Insurance GroupAU$22.641.4%
+AU$477.8m		6.1%PE11.4x
MPL Medibank PrivateAU$4.732.8%
+AU$358.0m		1.3%PE28.1x
SUN Suncorp GroupAU$17.011.4%
+AU$233.2m		-15.4%PE18.4x
NHF nib holdingsAU$6.795.4%
+AU$170.8m		-1.2%PE17x

Latest News

GDG
AU$3.75
Generation Development Group
7D
2.5%
1Y
-13.0%

GDG: Lower Multiple And Solid Margins Will Support Future Upside

Analysts have revised their A$ price target on Generation Development Group lower, citing adjusted fair value assumptions, slightly softer revenue and margin expectations, and a reduced future P/E multiple. Valuation Changes Fair Value: A$ fair value estimate reduced from A$7.45 to A$5.96, indicating a lower assessed valuation level.
NHF
AU$6.79
nib holdings
7D
5.4%
1Y
-1.2%

NHF: Stable Assumptions And Future P/E Will Support Further Upside

Analysts have kept their A$7.59 price target for nib holdings unchanged. They point to stable assumptions around discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their view.
AUB
AU$25.52
AUB Group
7D
0.04%
1Y
-20.2%

AUB: Capital Return And Equity Raising Will Support Future Repricing

Analysts have trimmed AUB Group's fair value estimate to about A$34.06 from A$34.68, reflecting slightly lower assumed profit margins and a modestly reduced future P/E multiple, while keeping other key inputs broadly unchanged. Analyst Commentary Recent Street research around financials with similar valuation frameworks offers some context for AUB Group, especially where analysts have adjusted price targets while keeping core views on earnings power and risk profile intact.
CVW
AU$0.63
ClearView Wealth
7D
-1.6%
1Y
37.0%

CVW: Scheme Bid And Higher Margins Will Drive Future Upside

ClearView Wealth's updated analyst price target has been revised from A$0.84 to A$0.75. Analysts cite changes to assumptions for fair value, discount rate, revenue growth, profit margins and future P/E as the key drivers of this adjustment.
IAG
AU$7.56
Insurance Australia Group
7D
4.4%
1Y
-9.2%

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

Analysts have adjusted their A$ price target for Insurance Australia Group to A$8.05, reflecting updated views on revenue trends, profit margins and future P/E assumptions following recent research that included a downgrade by Morgan Stanley. Analyst Commentary Recent commentary around Insurance Australia Group highlights a mixed view, with the revised A$8.05 price target sitting against concerns raised in the latest downgrade and updated assumptions for revenue, margins and P/E.
QBE
AU$22.64
QBE Insurance Group
7D
1.4%
1Y
6.1%

QBE: Dividend Payout And Governance Resolutions Will Shape A Balanced Outlook

Analysts have slightly trimmed their fair value estimate for QBE Insurance Group to A$23.15 from A$23.25, reflecting updated assumptions around revenue, profit margins and future P/E expectations. What's in the News Shareholders have requisitioned resolutions for QBE Insurance Group's Annual General Meeting in Sydney on May 8, 2026, proposing an amendment to the constitution to formally allow advisory shareholder resolutions on issues of material relevance to the business, provided they do not advocate unlawful action or relate to personal grievances (Key Developments).
SDF
AU$4.19
Steadfast Group
7D
-2.1%
1Y
-28.5%

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

Analysts have made a small adjustment to Steadfast Group's valuation, trimming the fair value estimate from about A$5.94 to roughly A$5.94. This reflects slightly different assumptions around revenue growth, profit margins and future P/E, and also highlights a broader lack of clear share price catalysts seen in recent peer research.
SUN
AU$17.01
Suncorp Group
7D
1.4%
1Y
-15.4%

SUN: Future Returns Will Rely On Earnings Delivery And Dividend Stability

Analysts have nudged their price target for Suncorp Group slightly higher from about A$18.18 to around A$18.29, citing updated assumptions on revenue, profit margins and future P/E as the key drivers of this small adjustment. What's in the News CEO Steve Johnston is taking a short period of temporary leave to recuperate from a medical procedure, with current CFO Jeremy Robson stepping in as Acting CEO during this time (Key Developments).
NOL
AU$1.27
NobleOak Life
7D
1.6%
1Y
-3.1%
MPL
AU$4.73
Medibank Private
7D
2.8%
1Y
1.3%