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Canadian (TSX) Insurance Industry Analysis

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies12
  • 7D0.04%
  • 3M11.8%
  • 1Y17.4%
  • YTD4.3%

In the last week, Insurance has been flat. As for the the longer term, the industry is up 17% over the past 12 months. Looking forward, earnings are forecast to grow by 4.7% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026CA$398.5bCA$245.7bCA$28.5b15.9x14x1.6x
Sat, 02 May 2026CA$390.3bCA$240.9bCA$27.8b15.4x14x1.6x
Mon, 30 Mar 2026CA$348.4bCA$243.1bCA$28.3b13.9x12.3x1.4x
Wed, 25 Feb 2026CA$358.5bCA$242.9bCA$28.7b14.2x12.5x1.5x
Fri, 23 Jan 2026CA$371.4bCA$241.9bCA$28.1b15.1x13.2x1.5x
Sun, 21 Dec 2025CA$378.5bCA$241.9bCA$28.2b15.3x13.4x1.6x
Tue, 18 Nov 2025CA$362.4bCA$242.9bCA$28.3b14.6x12.8x1.5x
Thu, 16 Oct 2025CA$355.6bCA$242.7bCA$26.8b14.5x13.3x1.5x
Sat, 13 Sep 2025CA$350.1bCA$241.9bCA$26.7b14x13.1x1.4x
Mon, 11 Aug 2025CA$331.2bCA$241.4bCA$26.7b13.3x12.4x1.4x
Wed, 09 Jul 2025CA$341.7bCA$235.5bCA$24.8b15.1x13.8x1.5x
Fri, 06 Jun 2025CA$340.6bCA$235.5bCA$24.8b15.2x13.7x1.4x
Sun, 04 May 2025CA$332.9bCA$235.0bCA$25.9b14.1x12.8x1.4x
Tue, 01 Apr 2025CA$330.0bCA$235.2bCA$25.9b13.5x12.7x1.4x
Thu, 27 Feb 2025CA$322.7bCA$234.0bCA$26.2b13.7x12.3x1.4x
Sat, 25 Jan 2025CA$313.0bCA$233.9bCA$26.5b12.5x11.8x1.3x
Mon, 23 Dec 2024CA$314.8bCA$233.9bCA$26.5b12.7x11.9x1.3x
Wed, 20 Nov 2024CA$320.2bCA$231.5bCA$26.4b12.9x12.1x1.4x
Fri, 18 Oct 2024CA$302.0bCA$224.9bCA$24.6b14.7x12.3x1.3x
Sun, 15 Sep 2024CA$285.0bCA$224.2bCA$24.5b13.4x11.6x1.3x
Tue, 13 Aug 2024CA$260.9bCA$223.9bCA$24.7b12.3x10.5x1.2x
Thu, 11 Jul 2024CA$263.0bCA$217.7bCA$23.3b11.3x11.3x1.2x
Sat, 08 Jun 2024CA$261.4bCA$218.2bCA$23.3b11.5x11.2x1.2x
Mon, 06 May 2024CA$261.7bCA$214.7bCA$22.8b12x11.5x1.2x
Wed, 03 Apr 2024CA$260.9bCA$218.1bCA$23.0b12.5x11.3x1.2x
Fri, 01 Mar 2024CA$260.1bCA$235.9bCA$22.3b13.6x11.7x1.1x
Sun, 28 Jan 2024CA$252.0bCA$229.7bCA$29.2b10.2x8.6x1.1x
Tue, 26 Dec 2023CA$239.7bCA$229.1bCA$29.2b9.9x8.2x1x
Thu, 23 Nov 2023CA$238.8bCA$230.6bCA$29.3b10.1x8.1x1x
Sat, 21 Oct 2023CA$215.0bCA$231.7bCA$27.2b9.3x7.9x0.9x
Mon, 18 Sep 2023CA$232.5bCA$248.0bCA$27.2b9.3x8.6x0.9x
Wed, 16 Aug 2023CA$228.4bCA$247.1bCA$27.0b9.4x8.5x0.9x
Fri, 14 Jul 2023CA$222.1bCA$239.0bCA$23.4b10.4x9.5x0.9x
Sun, 11 Jun 2023CA$223.8bCA$233.9bCA$23.4b10.6x9.6x1x
Price to Earnings Ratio

9.6x


Total Market Cap: CA$223.8bTotal Earnings: CA$23.4bTotal Revenue: CA$233.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Insurance Industry Price to Earnings3Y Average 11.5x202420252026
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 14.0x which is higher than its 3-year average PE of 11.5x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 6.8% 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 Market0.85%
Financials-0.98%
Insurance0.045%
Insurance Brokers2.38%
Life and Health Insurance0.067%
General Insurance0%0
Reinsurance0%0
Property and Casualty Insurance-0.017%
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 below its 3-year average of 12.0x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 9.2% over the next 5 years.
  • This is better than its past earnings growth rate of 7.0% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 7.0% 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
POW Power Corporation of CanadaCA$82.682.2%
+CA$1.1b		58.5%PE19.3x
DFY Definity FinancialCA$66.502.2%
+CA$175.5m		-8.8%PE20.5x
IAG iA FinancialCA$171.300.4%
+CA$58.8m		22.6%PE15.2x
GWO Great-West LifecoCA$79.610.01%
+CA$9.0m		55.1%PE16.7x
TSU Trisura GroupCA$40.690.1%
+CA$1.9m		1.4%PE12.8x

Latest News

DFY
CA$66.50
Definity Financial
7D
2.2%
1Y
-8.8%
POW
CA$82.68
Power Corporation of Canada
7D
2.2%
1Y
58.5%
MFC
CA$53.03
Manulife Financial
7D
-0.9%
1Y
21.3%
IFC
CA$270.16
Intact Financial
7D
-0.3%
1Y
-12.9%
Narrative Update • Jun 03

IFC: Earnings Execution And 23x P/E Support Will Drive Future Upside

Narrative Update Intact Financial's analyst price target has shifted modestly higher to about CA$314. Analysts cite slightly lower revenue growth assumptions, a small change in profit margin expectations, and a higher forward P/E multiple around 23x as they recalibrate views following mixed target revisions from RBC Capital, TD Securities, and Barclays.
TSU
CA$40.69
Trisura Group
7D
0.1%
1Y
1.4%
Narrative Update • Jun 03

TSU: Mixed Rating Shifts Will Set Up Potential Repricing Opportunity

Analysts have made only a modest tweak to Trisura Group's consensus price target, reflecting mixed recent moves such as a CA$4 reduction at CIBC and a CA$1 increase at RBC Capital, along with a downgrade at Scotiabank. Core model inputs such as fair value and discount rate remain unchanged.
GWO
CA$79.61
Great-West Lifeco
7D
0.01%
1Y
55.1%
Narrative Update • Jun 02

GWO: AI Deployment And Capital Returns Will Shape Future Repricing Balance

Great-West Lifeco's analyst price target has increased to CA$76.08 from CA$72.92, with analysts citing updated assumptions on fair value and price-to-earnings ratios, along with a series of recent target increases across major Canadian banks and brokers. Analyst Commentary Recent Street research shows a cluster of higher price targets for Great-West Lifeco, with adjustments ranging from C$3 to C$13 across multiple firms.
FFH
CA$2,169.45
Fairfax Financial Holdings
7D
-0.09%
1Y
-5.8%
Narrative Update • Jun 01

FFH: Poseidon Stake Sale And Buybacks Will Heighten Earnings Quality Concerns

Analysts have revised their price target for Fairfax Financial Holdings to CA$1,847 from CA$1,644, citing updated assumptions around revenue growth, profit margins and a lower projected P/E multiple. What's in the News Fairfax completed the sale of 67,618,981 common shares of Poseidon Corp., the holding company of Seaspan Corporation, at US$28.30 per share for total proceeds of about US$1.91 billion.
SLF
CA$100.21
Sun Life Financial
7D
-0.2%
1Y
13.0%
IAG
CA$171.30
iA Financial
7D
0.4%
1Y
22.6%
NXG
CA$0.43
NexgenRx
7D
2.4%
1Y
53.6%
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SFC
CA$7.99
Sagicor Financial
7D
-3.2%
1Y
-0.1%
ELF
CA$16.90
E-L Financial
7D
-0.2%
1Y
5.9%