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Canadian (TSX) Insurance Industry Analysis

UpdatedOct 16, 2025
DataAggregated Company Financials
Companies12
  • 7D-1.3%
  • 3M1.2%
  • 1Y15.5%
  • YTD11.4%

Over the last 7 days, the Insurance industry has dropped 1.3%, driven by Fairfax Financial Holdings declining 4.7%. In the past year, the industry has gained 16%. Earnings are forecast to grow by 5.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 17 Oct 2025CA$355.6bCA$242.7bCA$26.8b14.5x13.3x1.5x
Sun, 14 Sep 2025CA$349.3bCA$241.9bCA$26.7b14x13.1x1.4x
Tue, 12 Aug 2025CA$331.1bCA$241.6bCA$26.6b13.2x12.4x1.4x
Thu, 10 Jul 2025CA$339.6bCA$235.5bCA$24.8b15x13.7x1.4x
Sat, 07 Jun 2025CA$341.1bCA$235.6bCA$24.8b15.4x13.8x1.4x
Mon, 05 May 2025CA$332.9bCA$235.0bCA$25.9b14.1x12.8x1.4x
Wed, 02 Apr 2025CA$335.3bCA$234.9bCA$25.9b13.9x13x1.4x
Fri, 28 Feb 2025CA$323.6bCA$234.4bCA$26.2b13.7x12.3x1.4x
Sun, 26 Jan 2025CA$312.3bCA$233.9bCA$26.5b12.5x11.8x1.3x
Tue, 24 Dec 2024CA$314.8bCA$233.9bCA$26.5b12.9x11.9x1.3x
Thu, 21 Nov 2024CA$321.0bCA$232.5bCA$26.4b12.9x12.2x1.4x
Sat, 19 Oct 2024CA$303.4bCA$224.9bCA$24.6b14.7x12.3x1.3x
Mon, 16 Sep 2024CA$285.0bCA$224.2bCA$24.5b13.4x11.6x1.3x
Wed, 14 Aug 2024CA$262.2bCA$224.3bCA$24.7b12.8x10.6x1.2x
Fri, 12 Jul 2024CA$264.9bCA$217.8bCA$23.3b11.3x11.4x1.2x
Sun, 09 Jun 2024CA$262.4bCA$218.2bCA$23.3b11.5x11.2x1.2x
Tue, 07 May 2024CA$265.0bCA$214.7bCA$22.8b12.3x11.6x1.2x
Thu, 04 Apr 2024CA$259.5bCA$217.9bCA$23.0b12.5x11.3x1.2x
Sat, 02 Mar 2024CA$259.3bCA$235.9bCA$22.3b13.7x11.6x1.1x
Mon, 29 Jan 2024CA$252.0bCA$229.7bCA$29.2b10.2x8.6x1.1x
Wed, 27 Dec 2023CA$239.7bCA$229.1bCA$29.2b9.9x8.2x1x
Fri, 24 Nov 2023CA$238.9bCA$230.6bCA$29.3b10x8.1x1x
Sun, 22 Oct 2023CA$215.0bCA$231.7bCA$27.2b9.3x7.9x0.9x
Tue, 19 Sep 2023CA$232.4bCA$247.9bCA$27.2b9.3x8.6x0.9x
Thu, 17 Aug 2023CA$228.2bCA$248.0bCA$27.2b9.4x8.4x0.9x
Sat, 15 Jul 2023CA$223.4bCA$239.3bCA$23.4b10.4x9.5x0.9x
Mon, 12 Jun 2023CA$223.8bCA$233.9bCA$23.4b10.6x9.6x1x
Wed, 10 May 2023CA$221.7bCA$205.2bCA$20.3b12.5x10.9x1.1x
Fri, 07 Apr 2023CA$212.8bCA$205.5bCA$20.3b11.5x10.5x1x
Sun, 05 Mar 2023CA$222.2bCA$210.3bCA$20.6b11.6x10.8x1.1x
Tue, 31 Jan 2023CA$215.7bCA$219.2bCA$19.4b11.4x11.1x1x
Thu, 29 Dec 2022CA$202.8bCA$219.8bCA$19.4b10.4x10.5x0.9x
Sat, 26 Nov 2022CA$203.9bCA$219.2bCA$19.4b10.6x10.5x0.9x
Mon, 24 Oct 2022CA$187.7bCA$238.1bCA$21.4b8.9x8.8x0.8x
Price to Earnings Ratio

8.8x


Total Market Cap: CA$187.7bTotal Earnings: CA$21.4bTotal Revenue: CA$238.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Insurance Industry Price to Earnings3Y Average 11x202320242025
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 13.3x which is higher than its 3-year average PE of 11.0x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 7.8% 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 Market0.50%
Financials-1.14%
Insurance-1.25%
Insurance Brokers0%0
General Insurance0%0
Reinsurance0%0
Life and Health Insurance-0.12%
Property and Casualty Insurance-3.59%
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 13.4x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 8.5% 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 2.1% 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$58.781.2%
+CA$647.1m		24.6%PE14.6x
SLF Sun Life FinancialCA$85.720.5%
+CA$69.7m		8.6%PE14.8x
SFC Sagicor FinancialCA$8.200.7%
+CA$8.1m		30.8%PE7.1x

Latest News

GWO
CA$58.78
Great-West Lifeco
7D
1.2%
1Y
24.6%

Digital Transformation And Aging Trends Will Expand Global Wealth Management

Narrative Update: Great-West Lifeco Price Target Increased Analysts have raised their price target for Great-West Lifeco from C$59 to C$61, reflecting updated fair value estimates and continued optimism about the company’s outlook. Analyst Commentary Bullish Takeaways Bullish analysts have increased their price target, attributing this to improving fundamentals and updated fair value estimates.
FFH
CA$2,343.31
Fairfax Financial Holdings
7D
-4.7%
1Y
33.1%

FX Headwinds And Climate Risks Will Squeeze Underwriting Margins

Fairfax Financial Holdings' analyst price target has been raised, with the consensus now increasing from approximately C$2,634 to C$2,680. Analysts cite sustained revenue growth and stable profit margins as key drivers behind the more optimistic valuation.
IAG
CA$157.12
iA Financial
7D
-0.2%
1Y
32.5%
IFC
CA$259.83
Intact Financial
7D
-2.3%
1Y
-3.0%

AI Underwriting And Global Expansion Will Strengthen Future Resilience

Intact Financial's analyst price target saw a slight decrease of C$1.64. Analysts cited modest adjustments to fair value estimates and ongoing sector headwinds as the rationale behind the revision.
SLF
CA$85.72
Sun Life Financial
7D
0.5%
1Y
8.6%

Asian Markets And Digital Investments Will Drive Long Term Value

Sun Life Financial's analyst fair value estimate rose slightly to $88.23 from $87.17, as analysts cite support from resilient sector earnings and equity market strength despite some ongoing headwinds. Analyst Commentary Recent Street research on Sun Life Financial presents a mix of optimism regarding core fundamentals and caution toward market-specific risks.
DFY
CA$66.58
Definity Financial
7D
-3.4%
1Y
21.3%
ELF
CA$16.21
E-L Financial
7D
-2.8%
1Y
n/a
POW
CA$61.62
Power Corporation of Canada
7D
-1.3%
1Y
39.3%
SFC
CA$8.20
Sagicor Financial
7D
0.7%
1Y
30.8%
MFC
CA$44.50
Manulife Financial
7D
-0.6%
1Y
5.5%
TSU
CA$36.58
Trisura Group
7D
-3.8%
1Y
-19.1%