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Brazilian (BOVESPA) Insurance Industry Analysis

UpdatedApr 07, 2026
DataAggregated Company Financials
Companies5
  • 7D1.5%
  • 3M5.6%
  • 1Y6.0%
  • YTD5.0%

In the last week, the Insurance industry is up 1.5%, with Caixa Seguridade Participações leading the way, up 2.3%. In the last 12 months, the industry was up 6.0%. Earnings are forecast to grow by 5.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026R$163.3bR$66.0bR$17.3b9.5x9.4x2.5x
Thu, 05 Mar 2026R$158.2bR$65.9bR$17.4b9x9.1x2.4x
Sat, 31 Jan 2026R$162.9bR$63.6bR$17.3b8.8x9.4x2.6x
Mon, 29 Dec 2025R$155.7bR$63.6bR$17.3b8.4x9x2.4x
Wed, 26 Nov 2025R$148.4bR$63.6bR$17.3b7.5x8.6x2.3x
Fri, 24 Oct 2025R$142.4bR$62.5bR$17.2b7.2x8.3x2.3x
Sun, 21 Sep 2025R$145.8bR$61.5bR$17.2b7.4x8.5x2.4x
Tue, 19 Aug 2025R$144.6bR$60.3bR$16.9b7.2x8.6x2.4x
Thu, 17 Jul 2025R$147.8bR$61.0bR$16.3b7.8x9.1x2.4x
Sat, 14 Jun 2025R$151.8bR$61.0bR$16.3b8x9.3x2.5x
Mon, 12 May 2025R$154.3bR$60.4bR$16.2b8.6x9.5x2.6x
Wed, 09 Apr 2025R$152.1bR$60.1bR$16.1b9x9.5x2.5x
Fri, 07 Mar 2025R$152.0bR$60.1bR$16.1b8.7x9.4x2.5x
Sun, 02 Feb 2025R$149.8bR$59.8bR$15.4b8.8x9.7x2.5x
Tue, 31 Dec 2024R$142.0bR$59.8bR$15.4b8.2x9.2x2.4x
Thu, 28 Nov 2024R$140.5bR$59.8bR$15.4b7.7x9.1x2.4x
Sat, 26 Oct 2024R$138.6bR$58.9bR$14.8b9.2x9.4x2.4x
Mon, 23 Sep 2024R$138.9bR$58.9bR$14.8b9.2x9.4x2.4x
Wed, 21 Aug 2024R$141.1bR$58.3bR$14.8b8.6x9.6x2.4x
Fri, 19 Jul 2024R$136.7bR$57.2bR$14.6b8.3x9.4x2.4x
Sun, 16 Jun 2024R$130.8bR$57.2bR$14.6b7.9x8.9x2.3x
Tue, 14 May 2024R$136.9bR$56.1bR$14.0b8x9.7x2.4x
Thu, 11 Apr 2024R$138.0bR$56.2bR$13.8b8.5x10x2.5x
Sat, 09 Mar 2024R$138.2bR$58.8bR$13.9b12.1x9.9x2.4x
Mon, 05 Feb 2024R$142.1bR$80.0bR$13.5b17.6x10.5x1.8x
Wed, 03 Jan 2024R$138.5bR$80.0bR$13.5b17.2x10.2x1.7x
Fri, 01 Dec 2023R$129.4bR$80.0bR$13.5b16.7x9.6x1.6x
Sun, 29 Oct 2023R$125.7bR$79.0bR$12.3b9.7x10.2x1.6x
Tue, 26 Sep 2023R$129.2bR$79.0bR$12.3b10.1x10.5x1.6x
Thu, 24 Aug 2023R$123.6bR$77.2bR$12.3b9.6x10x1.6x
Sat, 22 Jul 2023R$126.1bR$77.5bR$10.8b14.4x11.7x1.6x
Mon, 19 Jun 2023R$122.4bR$77.7bR$10.8b13.5x11.3x1.6x
Wed, 17 May 2023R$121.5bR$77.7bR$10.9b11.3x11.1x1.6x
Fri, 14 Apr 2023R$127.1bR$75.0bR$9.8b13.5x12.9x1.7x
Price to Earnings Ratio

12.9x


Total Market Cap: R$127.1bTotal Earnings: R$9.8bTotal Revenue: R$75.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Insurance Industry Price to Earnings3Y Average 9.7x202420252026
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 9.7x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 21% per year over the last three years.
  • Meanwhile revenues for these companies have declined 4.2% 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 Market0.46%
Financials0.92%
Insurance1.51%
Insurance Brokers3.02%
General Insurance1.51%
Reinsurance1.17%
Industry PE
  • Investors are most optimistic about the Reinsurance industry even though it's trading below its 3-year average PE ratio of 13.9x.
    • Analysts are expecting annual earnings growth of 21.8%, which is higher than its past year's earnings decline of 51.5% 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 Reinsurance industry, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings decline of 51% per year.
  • In contrast, the General 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
CXSE3 Caixa Seguridade ParticipaçõesR$18.782.3%
+R$1.3b		24.1%PE13.1x
BBSE3 BB Seguridade ParticipaçõesR$35.441.8%
+R$1.2b		-12.4%PE7.6x
IRBR3 IRB-Brasil RessegurosR$55.241.2%
+R$52.2m		11.1%PE11.5x
WIZC3 Wiz Co Participações e Corretagem de SegurosR$9.203.0%
+R$43.2m		56.2%PE7.3x

Latest News

WIZC3
R$9.20
Wiz Co Participações e Corretagem de Seguros
7D
3.0%
1Y
56.2%

WIZC3: Future Meeting And Margin Outlook Will Support Bullish View

Analysts kept their R$ price target for Wiz Co Participações e Corretagem de Seguros unchanged, pointing to relatively stable fair value estimates despite tweaks to assumptions around revenue contraction, profit margin and future P/E levels. What's in the News Wiz Co Participações e Corretagem de Seguros has scheduled a Special and Extraordinary Shareholders Meeting for March 18, 2026, in Brasília, Brazil (Key Developments).
PSSA3
R$50.24
Porto Seguro
7D
-0.5%
1Y
28.2%

PSSA3: Index Inclusion And Firmer Margins Will Support Future Upside

Analysts have kept their R$61.00 price target for Porto Seguro broadly unchanged, noting slightly softer revenue expectations alongside a small improvement in projected profit margins, which together leave the medium term outlook essentially stable. What's in the News Porto Seguro S.A. has been added to the Brazil IBRX 50 Index, which may increase its visibility among investors who track this benchmark (Key Developments).
BBSE3
R$35.44
BB Seguridade Participações
7D
1.8%
1Y
-12.4%

BBSE3: Downgrade And Governance Updates Will Still Support Fair Pricing

Analysts have trimmed their price target for BB Seguridade Participações to R$37.75, keeping the fair value estimate steady as they factor in updated views on growth, profitability and valuation assumptions following the recent downgrade highlighted in Street research. Analyst Commentary Street research around the recent downgrade highlights a mix of optimism on the core business and caution around how much of that strength is already reflected in the R$37.75 fair value estimate.
CXSE3
R$18.78
Caixa Seguridade Participações
7D
2.3%
1Y
24.1%
IRBR3
R$55.24
IRB-Brasil Resseguros
7D
1.2%
1Y
11.1%

IRBR3: Stable Assumptions And Margins Will Support A Fairly Valued Outlook

Analysts kept their R$ price target for IRB-Brasil Resseguros unchanged, citing steady assumptions around fair value, discount rate, revenue trends, profit margin and forward P/E as the basis for maintaining their view. Valuation Changes Fair Value: R$59.86 remains unchanged, with no adjustment to the underlying fair value estimate.