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Canadian (TSX) Insurance Industry Analysis

UpdatedAug 13, 2026
DataAggregated Company Financials
Companies12
  • 7D-2.1%
  • 3M14.2%
  • 1Y35.0%
  • YTD17.1%

Over the last 7 days, the Insurance industry has dropped 2.8%, driven by declines in Manulife Financial and Fairfax Financial Holdings of 2.2% and 4.4%, respectively. In the past year, the industry has gained 35%. Earnings are forecast to grow by 5.6% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 13 Aug 2026CA$435.0bCA$251.0bCA$29.8b17.8x14.6x1.7x
Sat, 11 Jul 2026CA$444.4bCA$246.8bCA$28.7b18.6x15.5x1.8x
Mon, 08 Jun 2026CA$406.0bCA$245.9bCA$28.6b16.4x14.2x1.7x
Wed, 06 May 2026CA$385.1bCA$241.1bCA$27.8b15.5x13.8x1.6x
Fri, 03 Apr 2026CA$360.2bCA$243.3bCA$28.3b14.1x12.7x1.5x
Sun, 01 Mar 2026CA$361.1bCA$242.6bCA$28.7b14.3x12.6x1.5x
Tue, 27 Jan 2026CA$366.0bCA$241.6bCA$28.1b14.9x13x1.5x
Thu, 25 Dec 2025CA$381.4bCA$241.4bCA$28.1b15.4x13.6x1.6x
Sat, 22 Nov 2025CA$362.7bCA$243.1bCA$28.3b14.9x12.8x1.5x
Mon, 20 Oct 2025CA$343.4bCA$242.6bCA$26.8b14.3x12.8x1.4x
Wed, 17 Sep 2025CA$347.9bCA$241.5bCA$26.7b13.8x13x1.4x
Fri, 15 Aug 2025CA$332.8bCA$241.8bCA$26.7b13.5x12.5x1.4x
Sun, 13 Jul 2025CA$340.9bCA$235.5bCA$24.8b15x13.8x1.4x
Tue, 10 Jun 2025CA$342.3bCA$235.5bCA$24.8b15.3x13.8x1.5x
Thu, 08 May 2025CA$332.6bCA$235.1bCA$25.9b14x12.8x1.4x
Sat, 05 Apr 2025CA$330.4bCA$234.6bCA$25.9b13.1x12.8x1.4x
Mon, 03 Mar 2025CA$328.9bCA$234.5bCA$26.3b13.7x12.5x1.4x
Wed, 29 Jan 2025CA$311.4bCA$234.0bCA$26.6b12.5x11.7x1.3x
Fri, 27 Dec 2024CA$316.8bCA$234.1bCA$26.6b12.8x11.9x1.4x
Sun, 24 Nov 2024CA$323.8bCA$232.5bCA$26.4b12.8x12.3x1.4x
Tue, 22 Oct 2024CA$303.7bCA$225.0bCA$24.6b14.7x12.3x1.3x
Thu, 19 Sep 2024CA$287.5bCA$224.3bCA$24.5b13.6x11.7x1.3x
Sat, 17 Aug 2024CA$271.4bCA$224.4bCA$24.7b12.6x11x1.2x
Mon, 15 Jul 2024CA$266.6bCA$217.8bCA$23.3b11.4x11.4x1.2x
Wed, 12 Jun 2024CA$264.4bCA$218.2bCA$23.3b11.5x11.3x1.2x
Fri, 10 May 2024CA$265.6bCA$216.2bCA$23.0b12.2x11.5x1.2x
Sun, 07 Apr 2024CA$260.3bCA$218.1bCA$23.0b12.4x11.3x1.2x
Tue, 05 Mar 2024CA$261.5bCA$235.9bCA$22.3b13.7x11.7x1.1x
Thu, 01 Feb 2024CA$255.1bCA$229.7bCA$29.2b10.2x8.7x1.1x
Sat, 30 Dec 2023CA$242.1bCA$229.1bCA$29.2b10x8.3x1.1x
Mon, 27 Nov 2023CA$240.1bCA$230.4bCA$29.3b10x8.2x1x
Wed, 25 Oct 2023CA$214.5bCA$231.7bCA$27.2b9.3x7.9x0.9x
Fri, 22 Sep 2023CA$229.4bCA$231.0bCA$27.2b9.3x8.4x1x
Sun, 20 Aug 2023CA$223.7bCA$248.1bCA$27.2b9.4x8.2x0.9x
Price to Earnings Ratio

8.2x


Total Market Cap: CA$223.7bTotal Earnings: CA$27.2bTotal Revenue: CA$248.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Insurance Industry Price to Earnings3Y Average 11.9x202420252026
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 14.8x which is higher than its 3-year average PE of 11.9x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 3.1% 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 Market1.38%
Financials0.39%
Insurance-2.10%
General Insurance0%0
Reinsurance0%0
Life and Health Insurance-1.61%
Property and Casualty Insurance-3.58%
Insurance Brokers-6.67%
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 11.8x.
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 5.6% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 5.2% 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
ELF E-L FinancialCA$17.462.8%
+CA$157.7m		19.4%PE3.3x
SFC Sagicor FinancialCA$8.951.2%
+CA$15.0m		18.5%PE33.9x

Latest News

SLF
CA$111.90
Sun Life Financial
7D
-2.5%
1Y
40.2%
IFC
CA$274.14
Intact Financial
7D
-3.0%
1Y
-1.4%
MFC
CA$61.06
Manulife Financial
7D
-2.2%
1Y
45.5%
ELF
CA$17.46
E-L Financial
7D
2.8%
1Y
19.4%
IAG
CA$206.85
iA Financial
7D
-2.9%
1Y
40.5%
POW
CA$93.95
Power Corporation of Canada
7D
-1.3%
1Y
66.0%
DFY
CA$78.20
Definity Financial
7D
-3.3%
1Y
10.1%
Narrative Update • Aug 08

DFY: Synergy Delivery And Execution Will Support A Fair Value Range

Analysts have raised the fair value estimate for Definity Financial from CA$82.82 to CA$87.64, reflecting a series of upward price target revisions into the CA$83 to CA$93 range as they update assumptions on growth, profitability and valuation multiples. Analyst Commentary Recent research updates on Definity Financial show a cluster of higher price targets in the CA$83 to CA$93 range.
FFH
CA$2,304.02
Fairfax Financial Holdings
7D
-4.4%
1Y
-2.2%
Narrative Update • Aug 01

FFH: Softer Insurance Cycle Will Test Margins Yet Support Future Upside

Fairfax Financial Holdings' analyst price target has shifted modestly lower in recent weeks, with a reduced fair value estimate of about CA$2,680. This aligns with Street commentary that now frames the stock as fairly valued and facing softer insurance markets that may weigh on margins and combined ratios.
GWO
CA$91.38
Great-West Lifeco
7D
-0.5%
1Y
73.1%
SFC
CA$8.95
Sagicor Financial
7D
1.2%
1Y
18.5%