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Australian (ASX) Insurance Industry Analysis

UpdatedMay 31, 2026
DataAggregated Company Financials
Companies10
  • 7D-2.0%
  • 3M8.3%
  • 1Y-9.3%
  • YTD0.2%

Over the last 7 days, the Insurance industry has dropped 2.0%, driven by a pullback from QBE Insurance Group of 3.9%. On the other hand AUB Group is actually up 5.7%. Overall the industry is down 9.3% in 12 months. Looking forward, earnings are forecast to grow by 6.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 31 May 2026AU$96.7bAU$76.4bAU$6.2b18.1x15.6x1.3x
Tue, 28 Apr 2026AU$94.0bAU$76.4bAU$6.2b17.6x15.1x1.2x
Thu, 26 Mar 2026AU$92.5bAU$77.2bAU$6.3b16.8x14.6x1.2x
Sat, 21 Feb 2026AU$91.8bAU$84.2bAU$6.4b17.5x14.4x1.1x
Mon, 19 Jan 2026AU$94.7bAU$83.6bAU$7.1b18.5x13.3x1.1x
Wed, 17 Dec 2025AU$95.5bAU$83.8bAU$7.1b18.2x13.4x1.1x
Fri, 14 Nov 2025AU$101.1bAU$84.2bAU$7.2b18.4x14.1x1.2x
Sun, 12 Oct 2025AU$105.9bAU$84.6bAU$7.2b20.2x14.7x1.3x
Tue, 09 Sep 2025AU$105.1bAU$84.1bAU$7.2b20.6x14.7x1.3x
Thu, 07 Aug 2025AU$109.8bAU$81.9bAU$6.4b20.8x17.3x1.3x
Sat, 05 Jul 2025AU$107.6bAU$81.6bAU$6.3b20x17x1.3x
Mon, 02 Jun 2025AU$107.1bAU$82.2bAU$6.4b20.4x16.8x1.3x
Wed, 30 Apr 2025AU$101.4bAU$82.5bAU$6.4b19.9x15.8x1.2x
Fri, 28 Mar 2025AU$100.0bAU$83.1bAU$6.4b20.2x15.5x1.2x
Sun, 23 Feb 2025AU$96.3bAU$81.9bAU$6.5b19.2x14.9x1.2x
Tue, 21 Jan 2025AU$100.2bAU$80.5bAU$5.2b26.4x19.4x1.2x
Thu, 19 Dec 2024AU$97.2bAU$79.8bAU$5.1b26.1x19x1.2x
Sat, 16 Nov 2024AU$97.0bAU$79.0bAU$5.1b26.4x19.2x1.2x
Mon, 14 Oct 2024AU$90.0bAU$77.5bAU$4.9b25.4x18.2x1.2x
Wed, 11 Sep 2024AU$92.5bAU$78.3bAU$5.0b25.4x18.4x1.2x
Fri, 09 Aug 2024AU$89.8bAU$77.7bAU$5.2b22.1x17.1x1.2x
Sun, 07 Jul 2024AU$90.6bAU$76.7bAU$5.2b22x17.5x1.2x
Tue, 04 Jun 2024AU$89.6bAU$77.2bAU$5.2b19.8x17.2x1.2x
Thu, 02 May 2024AU$87.2bAU$78.0bAU$5.3b20.2x16.6x1.1x
Sat, 30 Mar 2024AU$90.0bAU$83.9bAU$5.2b20.3x17.1x1.1x
Mon, 26 Feb 2024AU$85.2bAU$81.6bAU$5.2b19.4x16.5x1x
Wed, 24 Jan 2024AU$82.3bAU$64.5bAU$4.7b19.7x17.7x1.3x
Fri, 22 Dec 2023AU$78.2bAU$63.9bAU$4.6b18.6x16.9x1.2x
Sun, 19 Nov 2023AU$78.1bAU$64.7bAU$4.7b19.3x16.7x1.2x
Tue, 17 Oct 2023AU$79.6bAU$65.5bAU$4.7b18.8x16.8x1.2x
Thu, 14 Sep 2023AU$78.6bAU$65.0bAU$4.7b18.9x16.7x1.2x
Sat, 12 Aug 2023AU$79.3bAU$62.2bAU$4.2b31.7x18.7x1.3x
Mon, 10 Jul 2023AU$79.1bAU$56.6bAU$3.4b30.8x23.4x1.4x
Wed, 07 Jun 2023AU$75.9bAU$56.7bAU$3.4b30.6x22.4x1.3x
Price to Earnings Ratio

22.4x


Total Market Cap: AU$75.9bTotal Earnings: AU$3.4bTotal Revenue: AU$56.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 16.9x202420252026
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 16.9x.
  • 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 22% per year over the last three years.
  • Revenues for these companies have grown 10% 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 Market0.98%
Financials-1.13%
Insurance-2.00%
Insurance Brokers1.67%
Life and Health Insurance-0.46%
Property and Casualty Insurance-2.80%
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 29.4x.
    • Analysts are expecting annual earnings growth of 14.9%, 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 14.8x.
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
AUB AUB GroupAU$26.135.7%
+AU$185.5m		-24.2%PE18.1x
GDG Generation Development GroupAU$4.080.2%
+AU$4.0m		-26.4%PS3x
NOL NobleOak LifeAU$1.250.8%
+AU$929.4k		-14.4%PE22.4x

Latest News

AUB
AU$26.13
AUB Group
7D
5.7%
1Y
-24.2%
IAG
AU$7.66
Insurance Australia Group
7D
-2.7%
1Y
-11.3%
Narrative Update • May 26

IAG: Revised Earnings Profile And P E Settings Will Shape Measured Upside

Analysts have adjusted their fair value estimate for Insurance Australia Group from A$8.05 to A$8.32, citing updated assumptions around discount rates, revenue trends and a slightly higher future P/E multiple as the key drivers of the latest price target revision. Analyst Commentary Recent research commentary around Insurance Australia Group has been mixed, with the latest downgrade highlighting both valuation questions and execution risks alongside some support for the refreshed fair value estimate of A$8.32.
GDG
AU$4.08
Generation Development Group
7D
0.2%
1Y
-26.4%
Narrative Update • May 20

GDG: Higher Discount Rate And Strong Margins Will Support Future Upside

Analysts have adjusted their price target on Generation Development Group to A$5.96. They link the change to updated assumptions around revenue trends, profit margins, a slightly higher discount rate, and a future P/E multiple.
MPL
AU$4.80
Medibank Private
7D
-0.2%
1Y
0.6%
SDF
AU$4.08
Steadfast Group
7D
-1.2%
1Y
-29.2%
QBE
AU$22.64
QBE Insurance Group
7D
-3.9%
1Y
-2.2%
SUN
AU$17.38
Suncorp Group
7D
-0.7%
1Y
-15.8%
Narrative Update • May 04

SUN: Future Returns Will Depend On Leadership Stability And Dividend Delivery

Analysts have nudged their Suncorp Group price target higher to around A$18.74 from about A$18.29, reflecting updated assumptions around fair value, slightly different long term revenue growth expectations, and modest changes to projected profit margins and future P/E levels. 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).
NHF
AU$6.68
nib holdings
7D
-1.9%
1Y
-0.7%
Narrative Update • May 03

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.
NOL
AU$1.25
NobleOak Life
7D
0.8%
1Y
-14.4%