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Indian (NIFTY) Insurance Industry Analysis

UpdatedNov 24, 2025
DataAggregated Company Financials
Companies14
  • 7D-0.6%
  • 3M0.8%
  • 1Y11.9%
  • YTD10.4%

The Insurance industry has stayed flat over the last week. The past year has been better, since the industry has gained 12% in that time. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 24 Nov 2025₹8.9t₹4.8t₹212.8b73.5x41.7x1.8x
Wed, 22 Oct 2025₹14.2t₹14.0t₹718.9b70.7x19.7x1x
Fri, 19 Sep 2025₹14.1t₹14.1t₹715.8b69.8x19.7x1x
Sun, 17 Aug 2025₹14.2t₹14.1t₹760.2b71.4x18.7x1x
Tue, 15 Jul 2025₹14.5t₹13.8t₹740.6b76.5x19.5x1x
Thu, 12 Jun 2025₹14.7t₹13.8t₹740.7b70.7x19.8x1.1x
Sat, 10 May 2025₹12.8t₹13.8t₹677.2b63.1x18.9x0.9x
Mon, 07 Apr 2025₹12.4t₹14.0t₹675.3b62.9x18.4x0.9x
Wed, 05 Mar 2025₹11.6t₹14.0t₹675.3b57.9x17.1x0.8x
Fri, 31 Jan 2025₹12.7t₹14.1t₹660.6b61.2x19.3x0.9x
Sun, 29 Dec 2024₹13.5t₹14.6t₹661.0b64.6x20.5x0.9x
Tue, 26 Nov 2024₹13.6t₹14.6t₹660.8b68.7x20.6x0.9x
Thu, 24 Oct 2024₹13.9t₹14.1t₹639.2b64.8x21.8x1x
Sat, 21 Sep 2024₹15.1t₹14.0t₹637.8b72.3x23.7x1.1x
Mon, 19 Aug 2024₹14.8t₹14.0t₹637.8b65.5x23.2x1.1x
Wed, 17 Jul 2024₹14.8t₹13.7t₹580.7b66.6x25.5x1.1x
Fri, 14 Jun 2024₹13.3t₹13.7t₹580.1b59.7x23x1x
Sun, 12 May 2024₹12.2t₹12.7t₹548.6b42.7x22.3x1x
Tue, 09 Apr 2024₹13.3t₹12.7t₹547.3b43.8x24.2x1x
Thu, 07 Mar 2024₹13.2t₹12.7t₹547.3b45.2x24.1x1x
Sat, 03 Feb 2024₹12.3t₹12.6t₹577.9b41.9x21.4x1x
Mon, 01 Jan 2024₹11.5t₹12.3t₹574.4b41.4x20x0.9x
Wed, 29 Nov 2023₹10.7t₹12.5t₹650.6b42.9x16.4x0.9x
Fri, 27 Oct 2023₹9.5t₹12.5t₹652.7b43.3x14.5x0.8x
Sun, 24 Sep 2023₹10.0t₹12.5t₹651.5b43.8x15.4x0.8x
Tue, 22 Aug 2023₹9.8t₹12.5t₹651.5b44.5x15x0.8x
Thu, 20 Jul 2023₹9.7t₹11.8t₹594.0b49.4x16.3x0.8x
Sat, 17 Jun 2023₹9.2t₹11.6t₹593.5b42.8x15.5x0.8x
Mon, 15 May 2023₹8.5t₹11.6t₹567.4b53.1x15x0.7x
Wed, 12 Apr 2023₹8.1t₹11.5t₹534.1b47.6x15.2x0.7x
Fri, 10 Mar 2023₹8.3t₹11.5t₹534.1b51.7x15.5x0.7x
Sun, 05 Feb 2023₹8.3t₹11.2t₹331.5b68.5x25.1x0.7x
Tue, 03 Jan 2023₹9.5t₹11.0t₹322.5b75.1x29.6x0.9x
Thu, 01 Dec 2022₹9.1t₹11.0t₹322.5b78.4x28.3x0.8x
Price to Earnings Ratio

28.3x


Total Market Cap: ₹9.1tTotal Earnings: ₹322.5bTotal Revenue: ₹11.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Insurance Industry Price to Earnings3Y Average 20.4x202320242025
Current Industry PE
  • Investors are optimistic on the Indian Insurance industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 41.7x which is higher than its 3-year average PE of 20.4x.
  • The 3-year average PS ratio of 0.93x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have declined 13% per year over the last three years,
  • Revenues have also declined 24% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

IN Market-0.65%
Financials-0.34%
Insurance-0.55%
Insurance Brokers4.12%
General Insurance0%0
Property and Casualty Insurance-0.56%
Life and Health Insurance-0.87%
Reinsurance-3.32%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry which is trading above its 3-year average PE ratio.
    • Analysts expect its future annual earnings growth (32.2%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 7.9x.
Forecasted Growth
  • Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Reinsurance industry is expected to see its earnings decline by 3.5% 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
SBILIFE SBI Life Insurance₹2.01k0.9%
+₹18.8b		34.8%PE82.3x
CANHLIFE Canara HSBC Life Insurance₹123.102.2%
+₹2.5b		n/aPE93.1x
GODIGIT Go Digit General Insurance₹354.700.1%
+₹323.2m		0.9%PE67x

Latest News

NIACL
₹172.92
New India Assurance
7D
-4.4%
1Y
-4.1%
POLICYBZR
₹1,781.30
PB Fintech
7D
-1.9%
1Y
-1.4%

POLICYBZR: Revenue Outlook Will Offset Margins As Leadership Renewal Approaches

Analysts have raised their price target for PB Fintech from ₹1,913.55 to ₹1,945.50, citing modest updates to key valuation inputs and expectations for continued solid revenue growth. This is offset by slightly lower profit margins.
GICRE
₹378.05
General Insurance Corporation of India
7D
-4.3%
1Y
-4.1%
GODIGIT
₹354.70
Go Digit General Insurance
7D
0.1%
1Y
0.9%

GODIGIT: Forecasts Signal Stable Performance With Slight Adjustments Ahead

Analysts have reaffirmed their price target for Go Digit General Insurance at ₹384.30 per share, citing stable forecasts for revenue growth and profit margins. There have only been minor adjustments to the discount rate and forward P/E, reflecting unchanged fundamental expectations.
STARHEALTH
₹496.90
Star Health and Allied Insurance
7D
-4.5%
1Y
4.7%

STARHEALTH: Digital Adoption Progress And Balanced Outlook Will Shape Future Performance

Narrative Update: Star Health and Allied Insurance Analyst Price Target Revision Analysts have raised their fair value estimate for Star Health and Allied Insurance from ₹495.59 to ₹508.14. This change reflects slightly improved long-term projections, even though there is some moderation in near-term revenue growth and profit margin expectations.
ICICIPRULI
₹607.35
ICICI Prudential Life Insurance
7D
-3.7%
1Y
-11.7%

ICICIPRULI: Board Decisions Expected To Drive Long-Term Upside

Analysts have slightly raised their price target for ICICI Prudential Life Insurance to ₹706.35. This change reflects marginal updates in projected discount rate, revenue growth, and profit margin assumptions.
ICICIGI
₹1,997.50
ICICI Lombard General Insurance
7D
-2.2%
1Y
8.7%

ICICIGI: Dividend Declared And Financial Assumptions Expected To Remain Stable

Analysts have held their price target for ICICI Lombard General Insurance steady at ₹2,145.42. This reflects stable projections and minimal changes in the company's key financial assumptions.
SBILIFE
₹2,014.80
SBI Life Insurance
7D
0.9%
1Y
34.8%

SBILIFE: Revenue Gains And Slight Margin Pressure Will Drive Measured Performance Ahead

Analysts have raised their price target for SBI Life Insurance from ₹2,106 to ₹2,133, citing stronger expectations for revenue growth. This comes despite a slightly higher discount rate as well as marginally reduced profit margin and future price-to-earnings ratio forecasts.
CANHLIFE
₹123.10
Canara HSBC Life Insurance
7D
2.2%
1Y
n/a
LICI
₹895.05
Life Insurance Corporation of India
7D
-2.2%
1Y
-1.1%

The Market Doesn't Like What It Sees From Life Insurance Corporation of India's (NSE:LICI) Earnings Yet

Oct 28
The Market Doesn't Like What It Sees From Life Insurance Corporation of India's (NSE:LICI) Earnings Yet
HDFCLIFE
₹761.65
HDFC Life Insurance
7D
-1.1%
1Y
11.2%