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

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 14.7x which is higher than its 3-year average PE of 11.6x. The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.7x.

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

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.

Canadian (TSX) Insurance Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 17 Jun 2026	CA$420.4b	CA$246.1b	CA$28.6b	17x	14.7x	1.7x
Fri, 15 May 2026	CA$390.3b	CA$245.0b	CA$28.5b	15.7x	13.7x	1.6x
Sun, 12 Apr 2026	CA$371.6b	CA$242.9b	CA$28.3b	14.7x	13.1x	1.5x
Tue, 10 Mar 2026	CA$345.9b	CA$242.4b	CA$28.8b	13.7x	12x	1.4x
Thu, 05 Feb 2026	CA$364.4b	CA$241.4b	CA$28.1b	15x	13x	1.5x
Sat, 03 Jan 2026	CA$381.9b	CA$241.6b	CA$28.1b	15.3x	13.6x	1.6x
Mon, 01 Dec 2025	CA$370.8b	CA$242.6b	CA$28.2b	15.1x	13.1x	1.5x
Wed, 29 Oct 2025	CA$352.6b	CA$242.3b	CA$26.8b	14.9x	13.2x	1.5x
Fri, 26 Sep 2025	CA$342.1b	CA$242.3b	CA$26.8b	13.7x	12.8x	1.4x
Sun, 24 Aug 2025	CA$339.2b	CA$241.8b	CA$26.7b	13.8x	12.7x	1.4x
Tue, 22 Jul 2025	CA$341.2b	CA$235.5b	CA$24.8b	14.9x	13.8x	1.4x
Thu, 19 Jun 2025	CA$338.7b	CA$235.6b	CA$24.8b	15x	13.7x	1.4x
Sat, 17 May 2025	CA$335.7b	CA$236.6b	CA$26.9b	15.3x	12.5x	1.4x
Mon, 14 Apr 2025	CA$308.5b	CA$233.4b	CA$25.7b	12.7x	12x	1.3x
Wed, 12 Mar 2025	CA$315.8b	CA$233.8b	CA$26.0b	13.1x	12.1x	1.4x
Fri, 07 Feb 2025	CA$312.6b	CA$231.3b	CA$26.9b	13.1x	11.6x	1.4x
Sun, 05 Jan 2025	CA$316.1b	CA$234.2b	CA$26.6b	12.6x	11.9x	1.3x
Tue, 03 Dec 2024	CA$324.1b	CA$232.8b	CA$26.4b	13.1x	12.3x	1.4x
Thu, 31 Oct 2024	CA$303.8b	CA$225.3b	CA$24.7b	14.6x	12.3x	1.3x
Sat, 28 Sep 2024	CA$293.7b	CA$223.9b	CA$24.5b	14.1x	12x	1.3x
Mon, 26 Aug 2024	CA$276.6b	CA$223.9b	CA$24.5b	12.9x	11.3x	1.2x
Wed, 24 Jul 2024	CA$266.9b	CA$218.3b	CA$23.3b	11.7x	11.4x	1.2x
Fri, 21 Jun 2024	CA$255.3b	CA$217.9b	CA$23.3b	11.1x	11x	1.2x
Sun, 19 May 2024	CA$268.4b	CA$217.7b	CA$23.3b	12.2x	11.5x	1.2x
Tue, 16 Apr 2024	CA$252.5b	CA$218.8b	CA$23.1b	11.9x	10.9x	1.2x
Thu, 14 Mar 2024	CA$263.4b	CA$237.1b	CA$22.2b	13.9x	11.9x	1.1x
Sat, 10 Feb 2024	CA$250.3b	CA$234.1b	CA$28.6b	9.8x	8.7x	1.1x
Mon, 08 Jan 2024	CA$243.6b	CA$229.5b	CA$29.2b	10x	8.3x	1.1x
Wed, 06 Dec 2023	CA$240.3b	CA$229.6b	CA$28.9b	10x	8.3x	1x
Fri, 03 Nov 2023	CA$221.4b	CA$231.8b	CA$27.2b	9.4x	8.1x	1x
Sun, 01 Oct 2023	CA$223.1b	CA$231.3b	CA$27.2b	9.3x	8.2x	1x
Tue, 29 Aug 2023	CA$222.8b	CA$248.3b	CA$27.2b	9.4x	8.2x	0.9x
Thu, 27 Jul 2023	CA$230.5b	CA$239.2b	CA$23.4b	10.9x	9.8x	1x
Sat, 24 Jun 2023	CA$217.8b	CA$239.2b	CA$23.4b	10.5x	9.3x	0.9x


CA Market	2.59%
Financials	3.05%
Insurance	4.04%
Life and Health Insurance	5.35%
Property and Casualty Insurance	0.56%
General Insurance	0%	0
Reinsurance	0%	0
Insurance Brokers	-3.33%

Company	Last Price	7D	1Y	Valuation
MFC Manulife Financial	CA$57.54	6.3% +CA$5.7b	36.6%	PE16.2x
GWO Great-West Lifeco	CA$85.94	5.7% +CA$4.1b	71.7%	PE18x
SLF Sun Life Financial	CA$108.70	5.5% +CA$3.1b	24.0%	PE20x
POW Power Corporation of Canada	CA$88.21	4.1% +CA$2.2b	68.4%	PE20.6x
FFH Fairfax Financial Holdings	CA$2.28k	1.4% +CA$715.2m	-5.5%	PE8x

Announcement • 3h

John Hancock Announces Enhanced Protection Variable Universal Life Solution

John Hancock announced an enhanced Protection Variable Universal Life (Protection VUL) solution — permanent life insurance designed to offer both protection and flexibility as customers' needs change over time. Protection VUL combines long-term death benefit protection with cash value growth potential and optional living benefit riders, offering a customizable approach to planning for customers seeking long-term financial confidence. Protection VUL is designed to help bridge these gaps with features that allow clients and their advisors to design the policy in a way that aligns to evolving needs and goals — from income replacement during working years, to supplemental retirement strategies and legacy planning later in life. Protection VUL also offers access to John Hancock Vitality®, a program offering tools, technology, resources, incentives and rewards to help customers take small, everyday steps toward a longer, healthier, better life. Customers who actively participate in the program have the opportunity to reduce their premiums. Protection VUL is built to evolve as clients' needs and priorities change, helping them stay prepared at every stage of life. Protection VUL policies automatically include a no-lapse guarantee (NLG) called Death Benefit Protection. This feature guarantees that the policy will not default, even if the cash surrender value falls to zero or below, provided that the Death Benefit Protection Value remains greater than zero and policy debt never exceeds the Policy Value. Policyholders who pay only the minimum premium required to keep the Death Benefit Protection in effect may forego the advantage of building significant cash value in this policy. The no-lapse guarantee under the Death Benefit Protection has a maximum duration to age 121. The duration of the no-lapse guarantee coverage may be less, depending upon the funding level chosen by the policy owner. The NLG duration is stated in the contract and reflected in the illustration's guaranteed net death benefit column. At the end of the NLG duration, premiums greater than those originally illustrated may be required to maintain coverage. Factors such as, but not limited to, the amount and timing of premium payments, loans, withdrawals, or any other change allowed under the contract could potentially terminate the no-lapse guarantee. Once terminated, the Death Benefit Protection feature cannot be reinstated. Variable universal life insurance has annual fees and expenses associated with it in addition to life insurance related charges (which differ with the product chosen), including surrender charges and investment management fees. Variable universal life insurance products are long-term contracts and are sold by prospectus. They are subject to market risk due to the underlying subaccounts and are unsuitable as a short-term savings vehicle. The primary purpose of variable universal life insurance is to provide lifetime protection against economic loss due to the death of the insured person. Cash values are not guaranteed if the client is invested in the investment accounts. There are risks associated with each investment option, and the policy may lose value if the investment options you choose underperform. Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock. John Hancock Vitality Program rewards and discounts are available only to the person insured under the eligible life insurance policy, may vary based on the type of insurance policy purchased and the state where the policy was issued, are subject to change and are not guaranteed to remain the same for the life of the policy. Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595 and securities are offered through John Hancock Distributors LLC through other broker/dealers that have a selling agreement with John Hancock Distributors LLC, 200 Berkeley Street, Boston, MA 02116. Protection VUL also offers access to John Hancock Vitality®, a program offering tools, technology, resources, incentives and rewards to help customers take small, everyday steps toward a longer, healthier, better life. Customers who actively participate in the program have the opportunity to reduce their premiums. Insurance policies and/or associated riders and features may not be available in all states. Some riders may have additional fees and expenses associated with them. Refer to the product prospectus for additional information. The life insurance policy describes coverage under the policy, exclusions and limitations, what you must do to keep your policy inforce, and what would cause your policy to be discontinued. Availability of policies, features, and benefits may vary by state. Products or services offered under the Vitality Program are not insurance and are subject to change. There may be additional costs associated with these products or services and there are additional requirements associated with participation in the program. Loans and withdrawals will reduce the death benefit and the cash surrender value and may cause the policy to lapse. Lapse or surrender of a policy with a loan may cause the recognition of taxable income. Withdrawals in excess of the cost basis (premiums paid) will be subject to tax and certain withdrawals within the first 15 years may be subject to recapture tax. Additionally, policies classified as modified endowment contracts may be subject to tax when a loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age 59 1/2. Cash value available for loans and withdrawals may be more or less than originally invested. Withdrawals are available after the first policy year. Guaranteed product features are dependent upon minimum-premium requirements and the claims-paying ability of the issuer.

Canadian (TSX) Insurance Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

John Hancock Announces Enhanced Protection Variable Universal Life Solution

Fairfax Financial Stock: Majority Stake in Kennedy-Wilson After All-Cash Acquisition

Sun Life Financial Stock Eyes Growth With Medzown Partnership to Expand Clinical Trial Access

Insider recently sold CA$360k worth of stock

Corporate Director recently sold CA$3.8m worth of stock

Executive VP & Strategic Advisor exercised options and sold CA$1.5m worth of stock

Power Corporation Commits US$150 Million to Sagard AI Fund for Global Technology Growth

Insider exercised options and sold CA$1.2m worth of stock

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

Is Now The Time To Put NexgenRx (CVE:NXG) On Your Watchlist?

Insider recently bought CA$171k worth of stock

First quarter 2026 earnings released: EPS: CA$0.09 (vs CA$0.24 in 1Q 2025)