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Australian (ASX) Insurance Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies10
  • 7D3.1%
  • 3M14.2%
  • 1Y-4.9%
  • YTD8.0%

The Insurance is pretty flat in the last 7 days, but QBE Insurance Group has stood out, gaining 4.2%. As for the longer term, the industry has declined 6.2% in the last year. Earnings are forecast to grow by 6.6% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026AU$104.1bAU$77.1bAU$6.3b19.5x16.5x1.4x
Thu, 21 May 2026AU$99.5bAU$76.7bAU$6.2b17.5x15.9x1.3x
Sat, 18 Apr 2026AU$95.9bAU$76.5bAU$6.2b17.3x15.4x1.3x
Mon, 16 Mar 2026AU$89.1bAU$77.1bAU$6.3b16.1x14.1x1.2x
Wed, 11 Feb 2026AU$90.5bAU$81.7bAU$6.9b17.3x13x1.1x
Fri, 09 Jan 2026AU$96.2bAU$83.5bAU$7.1b18.8x13.5x1.2x
Sun, 07 Dec 2025AU$92.8bAU$83.8bAU$7.1b17.5x13x1.1x
Tue, 04 Nov 2025AU$99.3bAU$84.3bAU$7.2b18.6x13.9x1.2x
Thu, 02 Oct 2025AU$103.7bAU$83.9bAU$7.1b19.7x14.5x1.2x
Sat, 30 Aug 2025AU$107.9bAU$84.7bAU$7.2b19.6x15x1.3x
Mon, 28 Jul 2025AU$106.2bAU$81.6bAU$6.3b20.7x16.8x1.3x
Wed, 25 Jun 2025AU$110.2bAU$81.9bAU$6.4b19.1x17.3x1.3x
Fri, 23 May 2025AU$107.3bAU$82.4bAU$6.4b20.7x16.8x1.3x
Sun, 20 Apr 2025AU$99.7bAU$82.6bAU$6.4b20x15.6x1.2x
Tue, 18 Mar 2025AU$95.7bAU$82.8bAU$6.4b20x14.9x1.2x
Thu, 13 Feb 2025AU$103.6bAU$80.9bAU$6.0b22.9x17.2x1.3x
Sat, 11 Jan 2025AU$98.9bAU$80.5bAU$5.2b26.1x19.1x1.2x
Mon, 09 Dec 2024AU$100.6bAU$79.4bAU$5.1b26.7x19.8x1.3x
Wed, 06 Nov 2024AU$89.6bAU$78.2bAU$5.0b25.2x17.9x1.1x
Fri, 04 Oct 2024AU$88.3bAU$77.1bAU$4.9b25.1x18x1.1x
Sun, 01 Sep 2024AU$92.1bAU$77.8bAU$5.0b26.6x18.4x1.2x
Tue, 30 Jul 2024AU$94.1bAU$77.7bAU$5.2b23.1x18x1.2x
Thu, 27 Jun 2024AU$91.6bAU$77.2bAU$5.2b21x17.6x1.2x
Sat, 25 May 2024AU$88.1bAU$77.4bAU$5.2b20.2x16.9x1.1x
Mon, 22 Apr 2024AU$86.8bAU$78.4bAU$5.3b20x16.4x1.1x
Wed, 20 Mar 2024AU$87.2bAU$83.9bAU$5.2b19.8x16.6x1x
Fri, 16 Feb 2024AU$84.7bAU$64.8bAU$4.7b19.7x18.1x1.3x
Sun, 14 Jan 2024AU$79.2bAU$64.1bAU$4.6b19.6x17.1x1.2x
Tue, 12 Dec 2023AU$78.2bAU$64.5bAU$4.7b19x16.8x1.2x
Thu, 09 Nov 2023AU$77.8bAU$65.0bAU$4.7b18.5x16.6x1.2x
Sat, 07 Oct 2023AU$78.7bAU$65.3bAU$4.7b18.8x16.7x1.2x
Mon, 04 Sep 2023AU$79.8bAU$65.0bAU$4.7b19.9x17x1.2x
Wed, 02 Aug 2023AU$80.8bAU$56.7bAU$3.4b31x23.9x1.4x
Fri, 30 Jun 2023AU$79.6bAU$56.7bAU$3.4b32.3x23.5x1.4x
Price to Earnings Ratio

23.5x


Total Market Cap: AU$79.6bTotal Earnings: AU$3.4bTotal Revenue: AU$56.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Insurance Industry Price to Earnings3Y Average 16.7x202420252026
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 16.7x.
  • 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-0.91%
Financials1.08%
Insurance3.13%
Property and Casualty Insurance4.16%
Life and Health Insurance0.84%
Insurance Brokers-0.33%
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 29.5x.
    • Analysts are expecting annual earnings growth of 14.5%, 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 14.7x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 14% 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 4.6% 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$24.434.2%
+AU$1.5b		4.1%PE12x
IAG Insurance Australia GroupAU$8.225.0%
+AU$909.9m		-9.3%PE17.7x
SUN Suncorp GroupAU$19.003.4%
+AU$657.2m		-11.4%PE20.4x
MPL Medibank PrivateAU$4.911.4%
+AU$192.8m		-0.4%PE29.2x
NHF nib holdingsAU$6.980.9%
+AU$29.3m		8.2%PE17.4x

Latest News

NOL
AU$1.37
NobleOak Life
7D
13.7%
1Y
-4.5%
GDG
AU$3.72
Generation Development Group
7D
-5.1%
1Y
-29.7%
Analysis Article • Jun 21

Generation Development Group (ASX:GDG) Shares Could Be 37.4% Undervalued After Record FY2025 Results

Generation Development Group (ASX:GDG) is back on radar after record FY2025 results and strong funds under management growth coincided with supportive Division 296 tax settings, which helped drive elevated trading and renewed investor interest. See our latest analysis for Generation Development Group. At A$3.73, Generation Development Group’s share price has seen a sharp 1-day share price return of 4.78% after record FY2025 results and strong funds under management growth, but remains under...
QBE
AU$24.43
QBE Insurance Group
7D
4.2%
1Y
4.1%
Analysis Article • Jun 18

QBE Insurance Group (ASX:QBE) Shares Could Be 3.4% Overvalued After Debt Reshuffle

QBE Insurance Group (ASX:QBE) has overhauled part of its capital structure by redeeming and cancelling USD 524,124,000 of 5.875% subordinated notes and issuing new €500 million fixed to floating subordinated notes due 2037. See our latest analysis for QBE Insurance Group. These funding moves come as QBE Insurance Group's share price sits at A$24.01, with a 90 day share price return of 16.67% and a year to date share price return of 21.20%. Longer term total shareholder returns of 75.90% over...
IAG
AU$8.22
Insurance Australia Group
7D
5.0%
1Y
-9.3%
SUN
AU$19.00
Suncorp Group
7D
3.4%
1Y
-11.4%
NHF
AU$6.98
nib holdings
7D
0.9%
1Y
8.2%
Narrative Update • Jun 16

NHF: Travel Portfolio Sale And Firm P/E Profile Will Shape Future Upside

Analysts have slightly increased their price target for nib holdings to A$7.65 from A$7.61, reflecting small model adjustments to fair value, revenue growth assumptions, profit margins and expected future P/E multiples. What's in the News for nib holdings Allianz Partners has agreed to acquire a large portion of nib holdings' Australian and New Zealand travel insurance portfolio for up to A$50 million, subject to regulatory approval.
SDF
AU$5.11
Steadfast Group
7D
-0.2%
1Y
-14.4%
Narrative Update • Jun 16

SDF: Takeover Bid And Capital Returns Will Support Future Share Upside

Analysts have trimmed their Steadfast Group valuation, with the implied fair value easing from A$5.97 to A$5.81 as small adjustments to revenue growth, profit margin and future P/E expectations feed into a slightly lower price target. What’s in the News for Steadfast Group Steadfast Group received a conditional, non-binding takeover proposal valued at about A$7.7b, or A$6 per share, from an Amwins Group and Dragoneer Investment Group consortium.
MPL
AU$4.91
Medibank Private
7D
1.4%
1Y
-0.4%
Narrative Update • Jun 12

MPL: Future Margins And P/E Assumptions Point To Fairly Balanced Outlook

Analysts have slightly reduced their Medibank Private price target to A$5.03, reflecting updated assumptions around discount rates, margins and future P/E multiples, while keeping the overall narrative broadly unchanged. What's in the News There are currently no recent Medibank Private specific news items provided in the source set, so price target changes are being assessed primarily against internal analyst assumptions rather than new company announcements.
AUB
AU$28.26
AUB Group
7D
-0.5%
1Y
-19.9%