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Swiss (SMI) Insurance Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies5
  • 7D-2.8%
  • 3M-7.8%
  • 1Y-9.6%
  • YTD-7.6%

Over the last 7 days, the Insurance industry has dropped 2.8%, driven by Zurich Insurance Group declining 2.6%. Overall the industry is down 9.6% in 12 months. Looking forward, earnings are forecast to grow by 5.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Mar 2026CHF 154.7bCHF 114.3bCHF 10.9b15.1x14.1x1.4x
Sat, 21 Feb 2026CHF 156.1bCHF 110.5bCHF 10.2b17.8x15.3x1.4x
Mon, 19 Jan 2026CHF 157.1bCHF 113.6bCHF 10.5b17.5x15x1.4x
Wed, 17 Dec 2025CHF 160.4bCHF 112.7bCHF 10.4b18x15.4x1.4x
Fri, 14 Nov 2025CHF 175.7bCHF 118.8bCHF 9.9b19.1x17.8x1.5x
Sun, 12 Oct 2025CHF 172.9bCHF 119.9bCHF 10.0b18.5x17.3x1.4x
Tue, 09 Sep 2025CHF 168.6bCHF 118.9bCHF 9.8b18.4x17.1x1.4x
Thu, 07 Aug 2025CHF 175.1bCHF 119.9bCHF 9.6b19.1x18.2x1.5x
Sat, 05 Jul 2025CHF 163.5bCHF 118.6bCHF 9.5b17.9x17.2x1.4x
Mon, 02 Jun 2025CHF 169.2bCHF 121.7bCHF 9.8b18.2x17.3x1.4x
Wed, 30 Apr 2025CHF 167.4bCHF 122.4bCHF 9.6b18.1x17.4x1.4x
Fri, 28 Mar 2025CHF 176.8bCHF 129.0bCHF 10.2b18.2x17.4x1.4x
Sun, 23 Feb 2025CHF 161.6bCHF 131.3bCHF 9.6b17.8x16.8x1.2x
Tue, 21 Jan 2025CHF 153.3bCHF 139.9bCHF 8.9b17.9x17.3x1.1x
Thu, 19 Dec 2024CHF 152.3bCHF 138.2bCHF 8.7b17.9x17.4x1.1x
Sat, 16 Nov 2024CHF 148.5bCHF 142.3bCHF 9.2b18x16.1x1x
Mon, 14 Oct 2024CHF 145.8bCHF 138.3bCHF 9.0b18.1x16.2x1.1x
Wed, 11 Sep 2024CHF 140.5bCHF 136.9bCHF 8.9b17.7x15.8x1x
Fri, 09 Aug 2024CHF 129.3bCHF 134.6bCHF 8.7b17.1x14.9x1x
Sun, 07 Jul 2024CHF 133.1bCHF 138.3bCHF 8.9b17.5x14.9x1x
Tue, 04 Jun 2024CHF 133.9bCHF 138.3bCHF 8.9b17.1x15x1x
Thu, 02 May 2024CHF 124.8bCHF 142.2bCHF 8.7b16.2x14.3x0.9x
Sat, 30 Mar 2024CHF 136.2bCHF 138.9bCHF 8.9b14.2x15.3x1x
Mon, 26 Feb 2024CHF 131.4bCHF 137.4bCHF 9.3b11.5x14.1x1x
Wed, 24 Jan 2024CHF 123.5bCHF 122.5bCHF 9.6b10.9x12.9x1x
Fri, 22 Dec 2023CHF 121.8bCHF 121.3bCHF 9.5b10.5x12.8x1x
Sun, 19 Nov 2023CHF 123.0bCHF 123.9bCHF 9.7b10.7x12.6x1x
Tue, 17 Oct 2023CHF 120.5bCHF 124.4bCHF 8.5b11.4x14.1x1x
Thu, 14 Sep 2023CHF 119.0bCHF 123.2bCHF 8.4b12.3x14.1x1x
Sat, 12 Aug 2023CHF 115.9bCHF 118.0bCHF 8.3b11.9x14x1x
Mon, 10 Jul 2023CHF 114.4bCHF 118.3bCHF 8.0b11.1x14.3x1x
Wed, 07 Jun 2023CHF 121.1bCHF 120.0bCHF 8.1b11.8x14.9x1x
Fri, 05 May 2023CHF 118.4bCHF 117.2bCHF 7.2b11.6x16.5x1x
Sun, 02 Apr 2023CHF 122.8bCHF 119.7bCHF 7.3b11.9x16.7x1x
Price to Earnings Ratio

16.7x


Total Market Cap: CHF 122.8bTotal Earnings: CHF 7.3bTotal Revenue: CHF 119.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Insurance Industry Price to Earnings3Y Average 15.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Swiss 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 15.6x.
  • The 3-year average PS ratio of 1.1x 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 14% 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 Swiss Financials industry?

CH Market-3.14%
Financials-2.07%
Insurance-2.75%
Life and Health Insurance-2.16%
General Insurance-2.30%
Reinsurance-4.21%
Industry PE
  • Investors are most optimistic about the Life and Health Insurance industry which is trading above its 3-year average PE ratio of 16.6x.
    • Analysts are expecting annual earnings growth of 6.3%, which is higher than its past year's earnings growth of 1.4% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 15.4x.
Forecasted Growth
  • Analysts are most optimistic on the General Insurance industry, expecting annual earnings growth of 7.6% over the next 5 years.
  • However this is lower than its past earnings growth rate of 17% per year.
  • In contrast, the Reinsurance industry is expected to see its earnings decline by 2.0% 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
HBAN Helvetia Baloise HoldingCHF 202.401.1%
+CHF 116.4m		9.2%PE19.8x
VAHN Vaudoise Assurances HoldingCHF 782.002.8%
+CHF 60.8m		38.7%PE15.1x

Latest News

HBAN
CHF 202.40
Helvetia Baloise Holding
7D
1.1%
1Y
9.2%

HBAN: Higher Revenue Outlook And Premium P/E Will Support Undervalued Shares

Analysts have adjusted their price target on Helvetia Baloise Holding from CHF 219.15 to CHF 224.99, citing updated assumptions around revenue growth, profit margins, and forward P/E multiples. Valuation Changes Fair Value: updated from CHF 219.15 to CHF 224.99, representing a small uplift in the central valuation estimate.
SLHN
CHF 840.40
Swiss Life Holding
7D
-0.5%
1Y
3.1%

SLHN: Future Returns Will Likely Reflect Modest CHF 10 Upside And Stable Assumptions

Analysts have increased their Swiss Life Holding price target by CHF 10, citing slightly adjusted assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the basis for the change. Analyst Commentary Bullish Takeaways Bullish analysts view the CHF 10 uplift to fair value as consistent with their revised assumptions on discount rates and P/E, indicating that they see the current share price as not fully reflecting those inputs.
SREN
CHF 128.70
Swiss Re
7D
-2.6%
1Y
-15.7%

SREN: Shares Will Balance Dividend Upside With Cautious Earnings Multiple Reset

Analysts have trimmed the blended Swiss Re price target, citing lower revenue growth expectations, a higher profit margin assumption, and a slightly lower future P/E. Newer Street targets have moved to CHF 118 and CHF 145, compared with earlier levels of CHF 120, CHF 130, and CHF 155.
ZURN
CHF 549.20
Zurich Insurance Group
7D
-0.4%
1Y
-11.6%
VAHN
CHF 782.00
Vaudoise Assurances Holding
7D
2.8%
1Y
38.7%