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Brazilian (BOVESPA) Insurance Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies5
  • 7D0.5%
  • 3M9.0%
  • 1Y7.1%
  • YTD2.6%

Over the last 7 days, the Insurance industry has dropped 5.7%, driven by Caixa Seguridade Participações declining 0.4%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 4.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026R$158.1bR$66.0bR$17.5b9.1x9x2.4x
Mon, 19 Jan 2026R$152.0bR$63.6bR$17.3b8x8.8x2.4x
Wed, 17 Dec 2025R$156.6bR$63.6bR$17.3b8.1x9x2.5x
Fri, 14 Nov 2025R$144.9bR$64.1bR$17.4b7.2x8.3x2.3x
Sun, 12 Oct 2025R$143.0bR$62.5bR$17.2b7.1x8.3x2.3x
Tue, 09 Sep 2025R$142.4bR$61.5bR$17.2b7.1x8.3x2.3x
Thu, 07 Aug 2025R$145.8bR$62.3bR$16.6b7.5x8.8x2.3x
Sat, 05 Jul 2025R$157.0bR$61.0bR$16.3b8.2x9.6x2.6x
Mon, 02 Jun 2025R$156.6bR$61.0bR$16.3b8.4x9.6x2.6x
Wed, 30 Apr 2025R$161.6bR$60.1bR$16.1b9.3x10x2.7x
Fri, 28 Mar 2025R$155.7bR$60.1bR$16.1b9x9.7x2.6x
Sun, 23 Feb 2025R$149.0bR$60.0bR$15.8b8.5x9.4x2.5x
Tue, 21 Jan 2025R$145.6bR$59.8bR$15.4b8.6x9.5x2.4x
Thu, 19 Dec 2024R$148.3bR$59.8bR$15.4b8.4x9.6x2.5x
Sat, 16 Nov 2024R$136.1bR$57.6bR$15.2b7.6x8.9x2.4x
Mon, 14 Oct 2024R$136.1bR$58.9bR$14.8b9.4x9.2x2.3x
Wed, 11 Sep 2024R$145.3bR$58.9bR$14.8b8.9x9.8x2.5x
Fri, 09 Aug 2024R$135.9bR$57.5bR$14.9b8.4x9.1x2.4x
Sun, 07 Jul 2024R$132.0bR$57.2bR$14.6b8x9x2.3x
Tue, 04 Jun 2024R$130.8bR$57.0bR$14.6b7.8x9x2.3x
Thu, 02 May 2024R$135.3bR$55.7bR$13.8b8.2x9.8x2.4x
Sat, 30 Mar 2024R$136.3bR$58.9bR$14.0b8.8x9.8x2.3x
Mon, 26 Feb 2024R$132.1bR$57.9bR$13.9b11.4x9.5x2.3x
Wed, 24 Jan 2024R$142.4bR$80.0bR$13.5b17.7x10.5x1.8x
Fri, 22 Dec 2023R$136.8bR$80.0bR$13.5b17.2x10.1x1.7x
Sun, 19 Nov 2023R$130.1bR$81.5bR$13.2b9.6x9.9x1.6x
Tue, 17 Oct 2023R$126.7bR$79.0bR$12.3b10.1x10.3x1.6x
Thu, 14 Sep 2023R$129.7bR$79.0bR$12.3b10.2x10.5x1.6x
Sat, 12 Aug 2023R$129.0bR$77.9bR$11.2b14x11.5x1.7x
Mon, 10 Jul 2023R$126.6bR$77.5bR$10.8b14.3x11.7x1.6x
Wed, 07 Jun 2023R$122.4bR$77.7bR$10.8b12x11.3x1.6x
Fri, 05 May 2023R$122.3bR$75.0bR$9.8b13.2x12.5x1.6x
Sun, 02 Apr 2023R$118.5bR$75.0bR$9.8b13.2x12.1x1.6x
Tue, 28 Feb 2023R$123.4bR$74.7bR$9.1b13.2x13.5x1.7x
Price to Earnings Ratio

13.5x


Total Market Cap: R$123.4bTotal Earnings: R$9.1bTotal Revenue: R$74.7bTotal 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 industry is trading close to its 3-year average PS ratio of 2.2x.
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 4.1% 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 Market2.01%
Financials3.60%
Insurance0.49%
Insurance Brokers0.66%
General Insurance0.49%
Reinsurance0.13%
Industry PE
  • Investors are most optimistic about the General Insurance industry, which is trading close to its 3-year average PE ratio of 9.6x.
    • Analysts are expecting annual earnings growth of 4.4%, 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 4.4% 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
PSSA3 Porto SeguroR$51.851.7%
+R$544.3m		33.5%PE9.8x
BBSE3 BB Seguridade ParticipaçõesR$34.050.7%
+R$446.5m		-8.0%PE7.3x
WIZC3 Wiz Co Participações e Corretagem de SegurosR$9.140.7%
+R$9.6m		54.7%PE7.7x
IRBR3 IRB-Brasil RessegurosR$59.400.1%
+R$6.5m		9.7%PE9.1x

Latest News

PSSA3
R$51.85
Porto Seguro
7D
1.7%
1Y
33.5%

PSSA3: Index Inclusion And Stronger Margins Will Support Future Upside

Analysts have trimmed their price target on Porto Seguro from R$65 to R$62, citing updated assumptions that combine lower revenue growth expectations and a slightly higher discount rate, partly offset by firmer profit margin forecasts and a modestly lower future P/E. What's in the News Porto Seguro S.A. has been added to the Brazil IBRX 50 Index, placing the stock alongside some of the most traded names in the local market (Key Developments).
BBSE3
R$34.05
BB Seguridade Participações
7D
0.7%
1Y
-8.0%

BBSE3: Higher Margin Outlook Will Support Undervalued Shares Despite Recent Downgrade

Analysts have adjusted their price target on BB Seguridade Participações slightly higher to about R$38.00, reflecting updated assumptions on discount rate, revenue growth, profit margins and future P/E after recent research, including a downgrade from Goldman Sachs. Analyst Commentary Recent research around BB Seguridade Participações is mixed, with the updated R$38.00 price target sitting alongside a fresh downgrade from Goldman Sachs.
IRBR3
R$59.40
IRB-Brasil Resseguros
7D
0.1%
1Y
9.7%

IRBR3: Fine Tuned Assumptions Will Support A Steady Fairly Valued Outlook

Analysts have nudged their price target on IRB-Brasil Resseguros slightly higher to R$59.29 from R$58.71, citing fine tuned assumptions around discount rates, margins and future P/E levels, rather than any major shift in the underlying outlook. Valuation Changes Fair Value: Adjusted slightly higher from R$58.71 to R$59.29 per share, reflecting fine tuning of the valuation model.
WIZC3
R$9.14
Wiz Co Participações e Corretagem de Seguros
7D
0.7%
1Y
54.7%

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.
CXSE3
R$17.95
Caixa Seguridade Participações
7D
-0.4%
1Y
14.8%

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.