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Australian (ASX) Insurance Industry Analysis

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies10
  • 7D4.2%
  • 3M-7.5%
  • 1Y-5.4%
  • YTD-5.4%

Over the last 7 days, the Insurance industry has risen 4.2%, driven by gains from QBE Insurance Group of 14%. In the same time, Suncorp Group was down 7.2%. In the past year, the industry is down 5.4%. Earnings are forecast to grow by 5.6% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Feb 2026AU$91.8bAU$76.5bAU$6.3b17.5x14.5x1.2x
Wed, 21 Jan 2026AU$94.4bAU$83.3bAU$7.1b18.3x13.3x1.1x
Fri, 19 Dec 2025AU$95.7bAU$84.0bAU$7.1b17.8x13.4x1.1x
Sun, 16 Nov 2025AU$100.1bAU$84.3bAU$7.2b18.4x14x1.2x
Tue, 14 Oct 2025AU$105.2bAU$84.4bAU$7.2b19.9x14.6x1.2x
Thu, 11 Sep 2025AU$106.0bAU$84.0bAU$7.1b19.8x14.8x1.3x
Sat, 09 Aug 2025AU$105.6bAU$81.8bAU$6.3b21x16.6x1.3x
Mon, 07 Jul 2025AU$107.6bAU$81.7bAU$6.3b20x17x1.3x
Wed, 04 Jun 2025AU$109.5bAU$82.2bAU$6.4b20.9x17.2x1.3x
Fri, 02 May 2025AU$102.0bAU$82.7bAU$6.4b19.5x15.9x1.2x
Sun, 30 Mar 2025AU$101.8bAU$83.1bAU$6.4b20.6x15.8x1.2x
Tue, 25 Feb 2025AU$97.9bAU$81.8bAU$6.4b20x15.4x1.2x
Thu, 23 Jan 2025AU$102.1bAU$80.0bAU$5.1b27.2x19.9x1.3x
Sat, 21 Dec 2024AU$96.7bAU$80.3bAU$5.2b25.7x18.7x1.2x
Mon, 18 Nov 2024AU$97.0bAU$79.1bAU$5.1b26.4x19.2x1.2x
Wed, 16 Oct 2024AU$90.9bAU$77.7bAU$5.0b25.8x18.3x1.2x
Fri, 13 Sep 2024AU$92.8bAU$78.2bAU$5.0b25.4x18.5x1.2x
Sun, 11 Aug 2024AU$90.4bAU$78.5bAU$5.8b22.5x15.5x1.2x
Tue, 09 Jul 2024AU$89.5bAU$76.8bAU$5.2b21.8x17.3x1.2x
Thu, 06 Jun 2024AU$89.5bAU$77.2bAU$5.2b20.1x17.2x1.2x
Sat, 04 May 2024AU$87.1bAU$77.5bAU$5.2b20.3x16.7x1.1x
Mon, 01 Apr 2024AU$90.0bAU$83.9bAU$5.2b20.3x17.1x1.1x
Wed, 28 Feb 2024AU$85.7bAU$83.5bAU$5.2b17x16.4x1x
Fri, 26 Jan 2024AU$82.6bAU$64.4bAU$4.7b19.8x17.7x1.3x
Sun, 24 Dec 2023AU$78.1bAU$63.7bAU$4.6b18.5x16.9x1.2x
Tue, 21 Nov 2023AU$78.1bAU$64.6bAU$4.7b18.8x16.7x1.2x
Thu, 19 Oct 2023AU$81.3bAU$65.2bAU$4.7b19.1x17.2x1.2x
Sat, 16 Sep 2023AU$79.2bAU$65.0bAU$4.7b19.1x16.9x1.2x
Mon, 14 Aug 2023AU$79.3bAU$62.3bAU$4.2b31.7x18.7x1.3x
Wed, 12 Jul 2023AU$79.2bAU$56.6bAU$3.4b31x23.4x1.4x
Fri, 09 Jun 2023AU$75.9bAU$56.6bAU$3.4b30.2x22.5x1.3x
Sun, 07 May 2023AU$75.4bAU$56.4bAU$3.4b29.4x22.4x1.3x
Tue, 04 Apr 2023AU$71.8bAU$56.4bAU$3.4b35x21.4x1.3x
Thu, 02 Mar 2023AU$73.9bAU$56.2bAU$3.4b40x22x1.3x
Price to Earnings Ratio

22x


Total Market Cap: AU$73.9bTotal Earnings: AU$3.4bTotal Revenue: AU$56.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 17.5x202420252026
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 14.5x which is lower than its 3-year average PE of 17.5x.
  • 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 24% 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 Market1.85%
Financials2.72%
Insurance4.23%
Insurance Brokers5.03%
Property and Casualty Insurance4.88%
Life and Health Insurance1.57%
Industry PE
  • Investors are most optimistic about the Life and Health Insurance industry even though it's trading below its 3-year average PE ratio of 29.1x.
    • Analysts are expecting annual earnings growth of 12.2%, which is higher than its past year's earnings growth of 8.4% per year.
  • Investors are most pessimistic about the Property and Casualty Insurance industry, which is trading below its 3-year average of 15.4x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings growth rate of 8.4% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings grow by 3.6% 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
QBE QBE Insurance GroupAU$22.2313.6%
+AU$4.0b		5.6%PE11.1x
SDF Steadfast GroupAU$4.444.2%
+AU$199.6m		-22.9%PE14.7x
IAG Insurance Australia GroupAU$6.960.4%
+AU$70.8m		-12.2%PE15.1x
NHF nib holdingsAU$6.522.2%
+AU$68.2m		-2.4%PE16.2x
GDG Generation Development GroupAU$4.383.1%
+AU$52.0m		-12.7%PE45.8x

Latest News

MPL
AU$4.45
Medibank Private
7D
-1.1%
1Y
10.1%
QBE
AU$22.23
QBE Insurance Group
7D
13.6%
1Y
5.6%
IAG
AU$6.96
Insurance Australia Group
7D
0.4%
1Y
-12.2%

IAG: Share Buyback And Margin Outlook Will Support Undervalued Upside

Analysts have trimmed their price target on Insurance Australia Group to around A$8.23 from about A$8.64, reflecting updated assumptions that factor in softer revenue expectations, slightly firmer profit margins and a lower future P/E of roughly 19.9x. What's in the News The board has approved a share buyback plan, providing authorization for Insurance Australia Group to repurchase its own shares as of February 12, 2026 (company announcement).
SUN
AU$14.80
Suncorp Group
7D
-7.2%
1Y
-26.7%
SDF
AU$4.44
Steadfast Group
7D
4.2%
1Y
-22.9%

SDF: Stronger Margins And Solid Outlook Will Support Future Upside Potential

Analysts have lifted their price target on Steadfast Group to A$6.31, supported by updated assumptions around slightly higher revenue growth, a modestly stronger profit margin and a slightly lower future P/E multiple. What's in the News Steadfast Group held an Analyst/Investor Day, providing the market with updated information directly from management on the business and on the outlook assumptions used by analysts (Key Developments).
GDG
AU$4.38
Generation Development Group
7D
3.1%
1Y
-12.7%

GDG: Incoming CFO Transition Will Support Future Upside Potential

Analysts have nudged their fair value estimate for Generation Development Group slightly higher to A$7.45 from A$7.45, citing updated assumptions around discount rates, revenue trends and future P/E expectations as key inputs to the new price target. What's in the News Generation Development Group announced that Chief Financial Officer Terence Wong plans to step down at the conclusion of the company’s 2026 financial year.
NHF
AU$6.52
nib holdings
7D
2.2%
1Y
-2.4%

NHF: Stable Assumptions And Slightly Higher Discount Rate Will Support Upside

Analysts have trimmed their price target for nib holdings to A$7.71, reflecting small adjustments to the discount rate and long term assumptions for revenue growth, profit margins and future P/E multiples, while keeping their overall fair value view unchanged. Valuation Changes Fair Value: Modelled fair value remains effectively unchanged at A$7.71, indicating no material shift in the overall valuation output.
AUB
AU$25.11
AUB Group
7D
0.2%
1Y
-11.9%

AUB: Revised Discount Rate And P/E Framework Will Support Future Upside Potential

Analysts have lifted their AUB Group price target to A$38.51, with the tweak supported by updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent target changes point to analysts refining their views on AUB Group rather than swinging to any extreme stance.
CVW
AU$0.54
ClearView Wealth
7D
-0.9%
1Y
40.8%

CVW: Steady Fair Value And Margin Outlook Will Support Stronger Future Returns

Analysts have trimmed their price target on ClearView Wealth to A$1.15 from A$1.15, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E that leave their overall valuation view essentially unchanged. Valuation Changes Fair Value: Held steady at A$1.15 per share, indicating no change in the central valuation estimate.
NOL
AU$1.38
NobleOak Life
7D
-5.5%
1Y
-4.2%