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Swiss (SMI) Insurance Industry Analysis

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies5
  • 7D1.3%
  • 3M-7.0%
  • 1Y-9.0%
  • YTD-6.7%

In the last week, Insurance has been flat. As for the longer term, the industry has declined 9.5% in the last year. As for the next few years, earnings are expected to grow by 5.0% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026CHF 156.1bCHF 114.3bCHF 11.0b15.1x14.1x1.4x
Mon, 23 Feb 2026CHF 156.1bCHF 113.1bCHF 10.9b15.3x14.3x1.4x
Wed, 21 Jan 2026CHF 154.8bCHF 112.1bCHF 10.3b17.5x15x1.4x
Fri, 19 Dec 2025CHF 161.4bCHF 112.6bCHF 10.4b18.1x15.5x1.4x
Sun, 16 Nov 2025CHF 171.9bCHF 119.1bCHF 9.9b18.9x17.3x1.4x
Tue, 14 Oct 2025CHF 171.7bCHF 120.2bCHF 10.0b18.4x17.2x1.4x
Thu, 11 Sep 2025CHF 168.6bCHF 119.6bCHF 9.9b18.5x17x1.4x
Sat, 09 Aug 2025CHF 173.7bCHF 120.8bCHF 9.7b19x18x1.4x
Mon, 07 Jul 2025CHF 163.5bCHF 118.6bCHF 9.5b17.9x17.2x1.4x
Wed, 04 Jun 2025CHF 168.6bCHF 121.8bCHF 9.8b18.2x17.2x1.4x
Fri, 02 May 2025CHF 169.4bCHF 123.0bCHF 9.7b18.2x17.5x1.4x
Sun, 30 Mar 2025CHF 176.0bCHF 128.9bCHF 10.1b18.1x17.3x1.4x
Tue, 25 Feb 2025CHF 162.8bCHF 131.1bCHF 9.6b17.9x17x1.2x
Thu, 23 Jan 2025CHF 153.9bCHF 139.8bCHF 8.8b18.2x17.4x1.1x
Sat, 21 Dec 2024CHF 149.8bCHF 138.1bCHF 8.7b17.7x17.1x1.1x
Mon, 18 Nov 2024CHF 148.5bCHF 137.5bCHF 8.7b18x17.1x1.1x
Wed, 16 Oct 2024CHF 146.8bCHF 139.0bCHF 9.0b18.2x16.3x1.1x
Fri, 13 Sep 2024CHF 141.4bCHF 137.4bCHF 8.9b17.7x15.9x1x
Sun, 11 Aug 2024CHF 129.9bCHF 136.4bCHF 9.1b16.2x14.2x1x
Tue, 09 Jul 2024CHF 135.0bCHF 138.5bCHF 8.9b17.7x15.1x1x
Thu, 06 Jun 2024CHF 134.0bCHF 138.0bCHF 8.9b17.2x15.1x1x
Sat, 04 May 2024CHF 124.1bCHF 140.2bCHF 8.6b16.3x14.5x0.9x
Mon, 01 Apr 2024CHF 136.2bCHF 139.0bCHF 8.9b14.2x15.3x1x
Wed, 28 Feb 2024CHF 129.7bCHF 147.0bCHF 9.3b11.4x13.9x0.9x
Fri, 26 Jan 2024CHF 124.5bCHF 122.2bCHF 9.6b11x13x1x
Sun, 24 Dec 2023CHF 122.0bCHF 121.1bCHF 9.5b10.6x12.9x1x
Tue, 21 Nov 2023CHF 123.0bCHF 123.8bCHF 9.7b10.7x12.7x1x
Thu, 19 Oct 2023CHF 121.3bCHF 124.2bCHF 8.5b11.4x14.2x1x
Sat, 16 Sep 2023CHF 120.4bCHF 123.3bCHF 8.4b12.4x14.3x1x
Mon, 14 Aug 2023CHF 115.9bCHF 120.9bCHF 8.4b11.9x13.8x1x
Wed, 12 Jul 2023CHF 114.6bCHF 117.5bCHF 7.9b11.2x14.4x1x
Fri, 09 Jun 2023CHF 118.9bCHF 119.3bCHF 8.1b11.6x14.7x1x
Sun, 07 May 2023CHF 119.7bCHF 118.5bCHF 8.0b11.8x15x1x
Tue, 04 Apr 2023CHF 122.4bCHF 119.5bCHF 7.3b11.9x16.7x1x
Price to Earnings Ratio

16.7x


Total Market Cap: CHF 122.4bTotal Earnings: CHF 7.3bTotal Revenue: CHF 119.5bTotal 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 Market1.66%
Financials1.19%
Insurance1.31%
Life and Health Insurance1.82%
General Insurance1.54%
Reinsurance0.43%
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 15.3x.
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 growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ZURN Zurich Insurance GroupCHF 547.801.3%
+CHF 1.0b		-11.8%PE15.1x
SLHN Swiss Life HoldingCHF 838.801.8%
+CHF 419.2m		3.9%PE19x
HBAN Helvetia Baloise HoldingCHF 200.802.2%
+CHF 227.5m		9.1%PE19.7x
VAHN Vaudoise Assurances HoldingCHF 799.007.8%
+CHF 167.9m		40.2%PE14.8x
SREN Swiss ReCHF 128.550.4%
+CHF 162.2m		-15.2%PE10.3x

Latest News

VAHN
CHF 799.00
Vaudoise Assurances Holding
7D
7.8%
1Y
40.2%
ZURN
CHF 547.80
Zurich Insurance Group
7D
1.3%
1Y
-11.8%

ZURN: Future Returns Will Rely On Beazley Integration And Stable Dividend Yield

Zurich Insurance Group's updated analyst price target now aligns around CHF 563, a modest trim from roughly CHF 568, as analysts balance improved growth potential from the Beazley acquisition against ongoing cyclical pricing pressure and a mix of Equal Weight, Hold and Buy views. Analyst Commentary Recent research views on Zurich Insurance Group cluster around a mid CHF 500s price target, with opinions split between neutral and positive on how the Beazley acquisition and current pricing conditions could affect value.
HBAN
CHF 200.80
Helvetia Baloise Holding
7D
2.2%
1Y
9.1%

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 838.80
Swiss Life Holding
7D
1.8%
1Y
3.9%

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 128.55
Swiss Re
7D
0.4%
1Y
-15.2%

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.