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Brazilian (BOVESPA) Insurance Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies5
  • 7D2.2%
  • 3M10.6%
  • 1Y10.5%
  • YTD7.0%

Over the last 7 days, the Insurance industry has risen 2.2%, driven by gains from Caixa Seguridade Participações of 5.0%. This means that the industry has gained 10% over the past year. As for the next few years, earnings are expected to grow by 4.5% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026R$166.5bR$63.6bR$17.5b8.7x9.5x2.6x
Tue, 06 Jan 2026R$156.1bR$63.6bR$17.3b8.1x9x2.5x
Thu, 04 Dec 2025R$152.3bR$63.6bR$17.3b7.7x8.8x2.4x
Sat, 01 Nov 2025R$145.8bR$62.5bR$17.2b7.2x8.5x2.3x
Mon, 29 Sep 2025R$143.6bR$61.5bR$17.2b7.1x8.4x2.3x
Wed, 27 Aug 2025R$142.2bR$61.2bR$17.2b7x8.3x2.3x
Fri, 25 Jul 2025R$144.0bR$61.0bR$16.3b7.5x8.8x2.4x
Sun, 22 Jun 2025R$150.4bR$61.0bR$16.3b7.9x9.2x2.5x
Tue, 20 May 2025R$156.6bR$61.6bR$16.4b8.6x9.5x2.5x
Thu, 17 Apr 2025R$155.9bR$60.1bR$16.1b9x9.7x2.6x
Sat, 15 Mar 2025R$154.7bR$60.1bR$16.1b8.9x9.6x2.6x
Mon, 10 Feb 2025R$150.7bR$59.8bR$15.4b9x9.8x2.5x
Wed, 08 Jan 2025R$140.8bR$59.8bR$15.4b8.3x9.1x2.4x
Fri, 06 Dec 2024R$142.3bR$59.8bR$15.4b8.1x9.2x2.4x
Sun, 03 Nov 2024R$138.9bR$58.9bR$14.8b9.2x9.4x2.4x
Tue, 01 Oct 2024R$140.5bR$58.9bR$14.8b9.4x9.5x2.4x
Thu, 29 Aug 2024R$145.2bR$58.4bR$14.8b8.8x9.8x2.5x
Sat, 27 Jul 2024R$135.0bR$57.2bR$14.6b8.4x9.2x2.4x
Mon, 24 Jun 2024R$130.8bR$57.2bR$14.6b8x9x2.3x
Wed, 22 May 2024R$139.5bR$57.0bR$14.6b8.2x9.5x2.4x
Fri, 19 Apr 2024R$135.2bR$56.2bR$13.8b8.3x9.8x2.4x
Sun, 17 Mar 2024R$139.0bR$58.8bR$13.9b12x10x2.4x
Tue, 13 Feb 2024R$128.5bR$57.6bR$13.8b11x9.3x2.2x
Thu, 11 Jan 2024R$138.1bR$80.0bR$13.5b17.1x10.2x1.7x
Sat, 09 Dec 2023R$130.3bR$80.0bR$13.5b15.6x9.6x1.6x
Mon, 06 Nov 2023R$126.5bR$79.0bR$12.3b9.8x10.3x1.6x
Wed, 04 Oct 2023R$127.8bR$79.0bR$12.3b10x10.4x1.6x
Fri, 01 Sep 2023R$125.3bR$79.0bR$12.3b9.6x10.2x1.6x
Sun, 30 Jul 2023R$126.9bR$77.5bR$10.8b14.5x11.7x1.6x
Tue, 27 Jun 2023R$122.0bR$77.5bR$10.8b13.8x11.3x1.6x
Thu, 25 May 2023R$119.2bR$77.7bR$10.8b11.5x11x1.5x
Sat, 22 Apr 2023R$126.6bR$75.0bR$9.8b13.7x12.9x1.7x
Mon, 20 Mar 2023R$117.5bR$70.6bR$9.8b13.8x12x1.7x
Wed, 15 Feb 2023R$127.7bR$73.0bR$9.1b13.6x14x1.7x
Price to Earnings Ratio

14x


Total Market Cap: R$127.7bTotal Earnings: R$9.1bTotal Revenue: R$73.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Insurance Industry Price to Earnings3Y Average 9.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the Brazilian 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 9.9x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 24% per year over the last three years.
  • Meanwhile revenues for these companies have declined 4.5% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Brazilian Financials industry?

BR Market0.53%
Financials0.49%
Insurance2.19%
General Insurance2.36%
Reinsurance-1.66%
Insurance Brokers-2.52%
Industry PE
  • Investors are most optimistic about the General Insurance industry, which is trading close to its 3-year average PE ratio of 9.7x.
    • Analysts are expecting annual earnings growth of 4.2%, which is lower than the prior year's growth of 24.5% per year.
  • Investors are most pessimistic about the Insurance Brokers industry, which is trading below its 3-year average of 9.8x.
Forecasted Growth
  • Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 14% over the next 5 years.
  • This is better than its past earnings growth rate of 5.8% per year.
  • In contrast, the General Insurance industry is expected to see its earnings grow by 4.2% 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
CXSE3 Caixa Seguridade ParticipaçõesR$18.185.0%
+R$2.6b		26.7%PE12.4x
PSSA3 Porto SeguroR$52.173.8%
+R$1.2b		28.0%PE9.9x

Latest News

WIZC3
R$9.69
Wiz Co Participações e Corretagem de Seguros
7D
-2.5%
1Y
65.1%

WIZC3: Fair Outlook Will Balance Meeting Risks And Revised Profitability Assumptions

Analysts have lifted their fair value estimate for Wiz Co Participações e Corretagem de Seguros from R$8.00 to R$10.00, reflecting updated assumptions that include a revised discount rate, less severe projected revenue contraction, a lower profit margin, and a higher expected future P/E multiple. What's in the News Special and extraordinary shareholders meeting scheduled for December 26, 2025, for Wiz Co Participações e Corretagem de Seguros S.A. (Key Developments) Meeting to be held at Setor Comercial Norte, Quadra 2, Bloco D, Sala 1301, Entrada B, Edifício Liberty Mall, Asa Norte, in the city of Brasília, Federal District, Brazil (Key Developments) Event classified as a Special/Extraordinary Shareholders Meeting, which typically focuses on topics that go beyond routine annual approvals (Key Developments) Valuation Changes Fair value estimate increased from R$8.00 to R$10.00, a R$2.00 rise per share.
PSSA3
R$52.17
Porto Seguro
7D
3.8%
1Y
28.0%
CXSE3
R$18.18
Caixa Seguridade Participações
7D
5.0%
1Y
26.7%

CXSE3: Future Returns Will Depend On Margins And P E Multiple Stability

Analysts have nudged their price target for Caixa Seguridade Participações slightly higher to R$18.50, reflecting updated assumptions around discount rates, profit margins and forward P/E, while leaving revenue growth expectations broadly unchanged. Valuation Changes Fair Value: The analyst fair value estimate has moved slightly higher from R$18.43 to R$18.50 per share.
BBSE3
R$37.23
BB Seguridade Participações
7D
-0.2%
1Y
-5.3%

BBSE3: Governance And Audit Plans Will Support Steady Fairly Valued Outlook

Analysts have nudged their price target on BB Seguridade Participações slightly higher to R$37.92 from R$37.83, citing minor updates to fair value, discount rate assumptions, revenue growth and profit margin forecasts, along with a small adjustment to the expected future P/E. What's in the News Board meeting scheduled for November 28, 2025, to decide on maintaining KPMG Auditores Independentes as the external audit firm for the 2026 fiscal year, in coordination with Banco do Brasil (Key Developments) Approval of the 2026 Annual Internal Audit Planning (PAINT) is on the agenda for the same board meeting, highlighting planned oversight of audit activities for the upcoming fiscal year (Key Developments) Revision of BB Seguridade's Integrity Program will be reviewed and approved at the November 28, 2025, board meeting, with room for additional matters subject to the chairman's approval (Key Developments) Valuation Changes Fair Value Estimate is now R$37.92 compared with the previous R$37.83, reflecting a very small upward adjustment in the model.
IRBR3
R$56.89
IRB-Brasil Resseguros
7D
-1.7%
1Y
9.5%

IRBR3: Margins And Softer Revenue Contraction Will Shape A Steady Outlook

Analysts have lifted their price target on IRB-Brasil Resseguros by about R$2, supported by small model tweaks that reflect slightly softer revenue contraction, a modestly higher profit margin and a higher future P/E multiple. Valuation Changes Fair value estimate increased slightly from R$56.71 to R$58.71.