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Canadian (TSX) Insurance Industry Analysis

UpdatedSep 25, 2025
DataAggregated Company Financials
Companies12
  • 7D0.5%
  • 3M-2.6%
  • 1Y17.9%
  • YTD8.9%

In the last week, Insurance has been flat. The past year has been better, since the industry has gained 18% in that time. As for the next few years, earnings are expected to grow by 4.9% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Sep 2025CA$344.5bCA$242.1bCA$26.7b13.7x12.9x1.4x
Sat, 23 Aug 2025CA$338.4bCA$241.8bCA$26.7b13.8x12.7x1.4x
Mon, 21 Jul 2025CA$341.2bCA$235.7bCA$24.8b15.1x13.8x1.4x
Wed, 18 Jun 2025CA$341.6bCA$235.4bCA$24.8b15.1x13.8x1.5x
Fri, 16 May 2025CA$331.9bCA$236.6bCA$24.9b15.3x13.3x1.4x
Sun, 13 Apr 2025CA$308.5bCA$233.4bCA$25.7b12.7x12x1.3x
Tue, 11 Mar 2025CA$323.4bCA$233.9bCA$26.1b13.2x12.4x1.4x
Thu, 06 Feb 2025CA$309.2bCA$233.7bCA$26.5b12.8x11.7x1.3x
Sat, 04 Jan 2025CA$314.0bCA$234.2bCA$26.6b12.6x11.8x1.3x
Mon, 02 Dec 2024CA$324.1bCA$232.6bCA$26.4b13.1x12.3x1.4x
Wed, 30 Oct 2024CA$303.3bCA$225.3bCA$24.7b14.5x12.3x1.3x
Fri, 27 Sep 2024CA$291.6bCA$223.8bCA$24.5b14.1x11.9x1.3x
Sun, 25 Aug 2024CA$276.6bCA$223.9bCA$24.5b12.9x11.3x1.2x
Tue, 23 Jul 2024CA$264.4bCA$218.2bCA$23.3b11.6x11.3x1.2x
Thu, 20 Jun 2024CA$255.3bCA$218.0bCA$23.3b11.2x11x1.2x
Sat, 18 May 2024CA$267.0bCA$217.7bCA$23.3b12.2x11.5x1.2x
Mon, 15 Apr 2024CA$252.5bCA$218.8bCA$23.1b12x10.9x1.2x
Wed, 13 Mar 2024CA$263.3bCA$237.2bCA$22.2b13.9x11.9x1.1x
Fri, 09 Feb 2024CA$256.0bCA$234.1bCA$28.6b9.8x8.9x1.1x
Sun, 07 Jan 2024CA$243.6bCA$229.5bCA$29.2b10x8.3x1.1x
Tue, 05 Dec 2023CA$240.4bCA$229.4bCA$28.9b10x8.3x1x
Thu, 02 Nov 2023CA$218.4bCA$232.2bCA$27.3b9.4x8x0.9x
Sat, 30 Sep 2023CA$224.3bCA$231.3bCA$27.2b9.3x8.3x1x
Mon, 28 Aug 2023CA$222.8bCA$248.3bCA$27.2b9.4x8.2x0.9x
Wed, 26 Jul 2023CA$229.8bCA$239.2bCA$23.4b10.9x9.8x1x
Fri, 23 Jun 2023CA$221.2bCA$239.1bCA$23.4b10.5x9.5x0.9x
Sun, 21 May 2023CA$226.6bCA$240.9bCA$23.2b10.9x9.8x0.9x
Tue, 18 Apr 2023CA$216.2bCA$205.3bCA$20.3b12.3x10.6x1.1x
Thu, 16 Mar 2023CA$206.2bCA$210.8bCA$20.6b10.9x10x1x
Sat, 11 Feb 2023CA$216.9bCA$167.1bCA$19.3b11.2x11.2x1.3x
Mon, 09 Jan 2023CA$208.4bCA$219.4bCA$19.4b10.8x10.7x1x
Wed, 07 Dec 2022CA$204.5bCA$219.9bCA$19.4b10.5x10.5x0.9x
Fri, 04 Nov 2022CA$195.2bCA$237.9bCA$21.4b9.4x9.1x0.8x
Sun, 02 Oct 2022CA$185.8bCA$238.1bCA$21.4b8.8x8.7x0.8x
Price to Earnings Ratio

8.7x


Total Market Cap: CA$185.8bTotal Earnings: CA$21.4bTotal Revenue: CA$238.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Insurance Industry Price to Earnings3Y Average 10.9x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Insurance industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 12.9x which is higher than its 3-year average PE of 10.9x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 7.7% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

CA Market1.43%
Financials0.88%
Insurance0.46%
Life and Health Insurance0.81%
Insurance Brokers0%0
General Insurance0%0
Reinsurance0%0
Property and Casualty Insurance-0.22%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Property and Casualty Insurance industry, which is trading close to its 3-year average of 13.5x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 8.7% over the next 5 years.
  • This is better than its past earnings growth rate of 0.7% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 2.4% 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
GWO Great-West LifecoCA$54.021.4%
+CA$684.1m		18.0%PE13.4x
MFC Manulife FinancialCA$43.050.8%
+CA$576.1m		9.6%PE13.4x
SLF Sun Life FinancialCA$82.000.8%
+CA$381.1m		5.5%PE14.2x
POW Power Corporation of CanadaCA$57.950.6%
+CA$197.5m		34.4%PE13.4x
FFH Fairfax Financial HoldingsCA$2.39k0.2%
+CA$103.9m		42.3%PE9x

Latest News

ELF
CA$16.61
E-L Financial
7D
0.5%
1Y
28.0%
POW
CA$57.95
Power Corporation of Canada
7D
0.6%
1Y
34.4%
GWO
CA$54.02
Great-West Lifeco
7D
1.4%
1Y
18.0%

Digital Transformation And Aging Trends Will Expand Global Wealth Management

With both the Future P/E and Net Profit Margin for Great-West Lifeco remaining effectively unchanged, the consensus analyst price target was only marginally raised from CA$55.00 to CA$55.73. What's in the News Increased equity buyback authorization by 20,000,000 shares, totaling 40,000,000 shares.
IAG
CA$153.28
iA Financial
7D
-0.4%
1Y
39.3%
DFY
CA$72.18
Definity Financial
7D
-1.2%
1Y
31.2%
IFC
CA$265.48
Intact Financial
7D
-0.4%
1Y
2.9%
FFH
CA$2,389.45
Fairfax Financial Holdings
7D
0.2%
1Y
42.3%
SFC
CA$8.38
Sagicor Financial
7D
-2.6%
1Y
48.1%
SLF
CA$82.00
Sun Life Financial
7D
0.8%
1Y
5.5%

Asian Markets And Digital Investments Will Drive Long Term Value

Analysts have slightly lowered their outlook on Sun Life Financial, citing weakness in the U.S. segment and asset management despite resilient profitability and stable fundamentals, resulting in the consensus price target remaining unchanged at CA$87.17. Analyst Commentary Recent Q2 results were generally in line with expectations, but showed weakness in the U.S. segment and Asset Management, leading to lowered price targets.
MFC
CA$43.05
Manulife Financial
7D
0.8%
1Y
9.6%
TSU
CA$38.64
Trisura Group
7D
-3.9%
1Y
-9.4%