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Canadian (TSX) Insurance Industry Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies12
  • 7D-2.1%
  • 3M-5.4%
  • 1Y13.1%
  • YTD-8.2%

Over the last 7 days, the Insurance industry has dropped 2.1%, driven by Fairfax Financial Holdings declining 3.1%. This takes the industry's 12 month performance to a gain of 13%. As for the next few years, earnings are expected to grow by 3.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026CA$344.1bCA$242.4bCA$28.8b13.8x11.9x1.4x
Fri, 06 Feb 2026CA$363.8bCA$241.5bCA$28.1b15.1x12.9x1.5x
Sun, 04 Jan 2026CA$380.8bCA$241.6bCA$28.1b15.3x13.5x1.6x
Tue, 02 Dec 2025CA$370.8bCA$242.7bCA$28.2b14.9x13.1x1.5x
Thu, 30 Oct 2025CA$352.6bCA$242.3bCA$26.8b14.7x13.2x1.5x
Sat, 27 Sep 2025CA$341.4bCA$242.3bCA$26.8b13.8x12.8x1.4x
Mon, 25 Aug 2025CA$339.2bCA$241.8bCA$26.7b13.8x12.7x1.4x
Wed, 23 Jul 2025CA$338.4bCA$235.2bCA$24.8b15.1x13.7x1.4x
Fri, 20 Jun 2025CA$338.4bCA$235.6bCA$24.8b15.1x13.7x1.4x
Sun, 18 May 2025CA$337.5bCA$236.6bCA$26.9b15.3x12.5x1.4x
Tue, 15 Apr 2025CA$308.5bCA$233.3bCA$25.7b12.9x12x1.3x
Thu, 13 Mar 2025CA$314.3bCA$233.9bCA$26.0b13.1x12.1x1.3x
Sat, 08 Feb 2025CA$321.2bCA$231.2bCA$26.9b13.3x11.9x1.4x
Mon, 06 Jan 2025CA$316.1bCA$234.2bCA$26.6b12.6x11.9x1.3x
Wed, 04 Dec 2024CA$326.2bCA$232.8bCA$26.4b13.1x12.4x1.4x
Fri, 01 Nov 2024CA$303.8bCA$225.3bCA$24.7b14.6x12.3x1.3x
Sun, 29 Sep 2024CA$293.4bCA$223.9bCA$24.5b14.1x12x1.3x
Tue, 27 Aug 2024CA$276.6bCA$223.8bCA$24.5b12.9x11.3x1.2x
Thu, 25 Jul 2024CA$266.8bCA$218.4bCA$23.4b11.7x11.4x1.2x
Sat, 22 Jun 2024CA$255.0bCA$218.0bCA$23.3b11.2x10.9x1.2x
Mon, 20 May 2024CA$268.4bCA$217.7bCA$23.3b12.2x11.5x1.2x
Wed, 17 Apr 2024CA$251.4bCA$218.9bCA$23.1b11.8x10.9x1.1x
Fri, 15 Mar 2024CA$263.8bCA$237.4bCA$22.2b14x11.9x1.1x
Sun, 11 Feb 2024CA$250.3bCA$235.8bCA$28.7b9.8x8.7x1.1x
Tue, 09 Jan 2024CA$243.6bCA$229.4bCA$29.2b10.1x8.3x1.1x
Thu, 07 Dec 2023CA$240.0bCA$230.2bCA$29.3b10x8.2x1x
Sat, 04 Nov 2023CA$227.7bCA$227.2bCA$28.8b9.3x7.9x1x
Mon, 02 Oct 2023CA$223.1bCA$231.3bCA$27.2b9.3x8.2x1x
Wed, 30 Aug 2023CA$225.4bCA$248.1bCA$27.2b9.4x8.3x0.9x
Fri, 28 Jul 2023CA$230.5bCA$239.2bCA$23.4b10.9x9.8x1x
Sun, 25 Jun 2023CA$217.8bCA$239.2bCA$23.4b10.5x9.3x0.9x
Tue, 23 May 2023CA$226.6bCA$240.9bCA$23.2b10.9x9.8x0.9x
Thu, 20 Apr 2023CA$219.7bCA$205.4bCA$20.3b12.4x10.8x1.1x
Sat, 18 Mar 2023CA$204.8bCA$210.7bCA$20.5b10.7x10x1x
Price to Earnings Ratio

10x


Total Market Cap: CA$204.8bTotal Earnings: CA$20.5bTotal Revenue: CA$210.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Insurance Industry Price to Earnings3Y Average 11.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian 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 11.3x.
  • 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 12% per year over the last three years.
  • Revenues for these companies have grown 4.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market-1.63%
Financials-2.36%
Insurance-2.09%
Insurance Brokers4.41%
General Insurance0%0
Reinsurance0%0
Life and Health Insurance-1.92%
Property and Casualty Insurance-2.49%
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 12.3x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 9.4% over the next 5 years.
  • This is better than its past earnings growth rate of 3.5% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 8.5% 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
SFC Sagicor FinancialCA$9.843.5%
+CA$44.7m		39.0%PE7.3x
DFY Definity FinancialCA$67.810.5%
+CA$44.4m		11.3%PE19.4x
NXG NexgenRxCA$0.354.4%
+CA$1.1m		42.0%PE20.3x

Latest News

IFC
CA$254.35
Intact Financial
7D
-2.2%
1Y
-10.3%
FFH
CA$2,266.81
Fairfax Financial Holdings
7D
-3.1%
1Y
15.7%
SLF
CA$86.37
Sun Life Financial
7D
-2.2%
1Y
10.8%

SLF: Capital Strength And Buybacks Will Support 2026 Execution Risks

Analysts have inched their fair value estimate for Sun Life Financial higher to CA$95.79 from CA$95.57. This reflects a series of mostly higher price targets across the Street as they factor in updated growth, profitability and P/E assumptions.
TSU
CA$43.91
Trisura Group
7D
-5.3%
1Y
38.9%
MFC
CA$45.88
Manulife Financial
7D
-2.2%
1Y
11.1%
DFY
CA$67.81
Definity Financial
7D
0.5%
1Y
11.3%
SFC
CA$9.84
Sagicor Financial
7D
3.5%
1Y
39.0%
POW
CA$65.70
Power Corporation of Canada
7D
-2.4%
1Y
36.4%
GWO
CA$62.55
Great-West Lifeco
7D
-1.3%
1Y
22.4%

GWO: Capital Returns And Earnings Quality Will Support Medium Term Re Rating

The analyst price target for Great-West Lifeco has been revised modestly higher to CA$68.00, reflecting updated views that incorporate Street research highlighting changes to revenue growth, profit margin assumptions, and sector outlooks from firms that recently adjusted their CA$60 to CA$73 target range. Analyst Commentary Recent research updates on Great-West Lifeco cluster in a CA$60 to CA$73 target range, which gives you a sense of how the Street is framing potential outcomes around execution, growth initiatives, and sector risks.
IAG
CA$150.55
iA Financial
7D
-1.3%
1Y
21.6%
NXG
CA$0.35
NexgenRx
7D
4.4%
1Y
42.0%