Has the South Korean Insurance Industry valuation changed over the past few years?

Investors are optimistic on the South Korean Insurance industry, and appear confident in long term growth rates. The industry is trading at a PE ratio of 11.1x which is higher than its 3-year average PE of 7.5x. The industry is trading close to its 3-year average PS ratio of 0.45x.

Which industries have driven the changes within the South Korean Financials industry?

Investors are most optimistic about the Life and Health Insurance industry which is trading above its 3-year average PE ratio of 9.2x. Analysts are expecting annual earnings growth of 6.6%, which is lower than the prior year's growth of 15.3% per year. Investors are most pessimistic about the Reinsurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 5.9x.

South Korean (KOSPI) Insurance Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 09 Aug 2026	₩104.0t	₩140.4t	₩9.4t	9.1x	11.1x	0.7x
Tue, 07 Jul 2026	₩124.3t	₩140.4t	₩9.4t	9x	13.2x	0.9x
Thu, 04 Jun 2026	₩137.1t	₩131.2t	₩8.7t	8.8x	15.8x	1x
Sat, 02 May 2026	₩90.2t	₩130.5t	₩9.1t	9.9x	9.9x	0.7x
Mon, 30 Mar 2026	₩87.3t	₩142.5t	₩8.7t	9.9x	10x	0.6x
Wed, 25 Feb 2026	₩94.5t	₩140.3t	₩8.6t	9.9x	11x	0.7x
Fri, 23 Jan 2026	₩74.8t	₩140.3t	₩8.6t	8.3x	8.7x	0.5x
Sun, 21 Dec 2025	₩70.6t	₩140.3t	₩8.6t	8.9x	8.2x	0.5x
Tue, 18 Nov 2025	₩69.9t	₩135.9t	₩8.0t	8x	8.7x	0.5x
Thu, 16 Oct 2025	₩70.6t	₩139.4t	₩8.1t	6.7x	8.7x	0.5x
Sat, 13 Sep 2025	₩71.9t	₩139.4t	₩8.1t	6.5x	8.9x	0.5x
Mon, 11 Aug 2025	₩61.5t	₩127.8t	₩8.3t	6.8x	7.4x	0.5x
Wed, 09 Jul 2025	₩64.0t	₩127.8t	₩8.3t	6.6x	7.7x	0.5x
Fri, 06 Jun 2025	₩58.6t	₩124.9t	₩8.7t	6.8x	6.7x	0.5x
Sun, 04 May 2025	₩47.7t	₩126.6t	₩8.9t	5.2x	5.3x	0.4x
Tue, 01 Apr 2025	₩45.7t	₩126.0t	₩9.3t	4.8x	4.9x	0.4x
Thu, 27 Feb 2025	₩46.7t	₩123.6t	₩9.0t	4.3x	5.2x	0.4x
Sat, 25 Jan 2025	₩42.6t	₩126.1t	₩8.8t	4.2x	4.9x	0.3x
Mon, 23 Dec 2024	₩47.4t	₩126.1t	₩8.8t	4.2x	5.4x	0.4x
Wed, 20 Nov 2024	₩49.5t	₩124.4t	₩8.9t	4.6x	5.6x	0.4x
Fri, 18 Oct 2024	₩48.6t	₩122.9t	₩8.5t	4.5x	5.7x	0.4x
Sun, 15 Sep 2024	₩48.9t	₩122.9t	₩8.5t	4.4x	5.8x	0.4x
Tue, 13 Aug 2024	₩47.3t	₩120.4t	₩7.6t	6.1x	6.2x	0.4x
Thu, 11 Jul 2024	₩49.4t	₩120.4t	₩7.6t	6x	6.5x	0.4x
Sat, 08 Jun 2024	₩45.3t	₩120.4t	₩7.7t	4.9x	5.9x	0.4x
Mon, 06 May 2024	₩42.7t	₩121.4t	₩8.0t	4.3x	5.3x	0.4x
Wed, 03 Apr 2024	₩44.4t	₩148.8t	₩6.4t	6.8x	6.9x	0.3x
Fri, 01 Mar 2024	₩45.4t	₩148.7t	₩6.5t	6.7x	7x	0.3x
Sun, 28 Jan 2024	₩40.2t	₩163.6t	₩6.9t	5.3x	5.8x	0.2x
Tue, 26 Dec 2023	₩42.2t	₩163.6t	₩6.9t	5.6x	6.1x	0.3x
Thu, 23 Nov 2023	₩42.1t	₩166.7t	₩6.8t	6.1x	6.2x	0.3x
Sat, 21 Oct 2023	₩43.6t	₩166.7t	₩6.6t	5.7x	6.6x	0.3x
Mon, 18 Sep 2023	₩44.1t	₩166.7t	₩6.6t	6.2x	6.7x	0.3x
Wed, 16 Aug 2023	₩40.7t	₩169.4t	₩6.9t	5.2x	5.9x	0.2x


KR Market	-4.20%
Financials	1.14%
Insurance	-4.28%
Insurance Brokers	6.44%
Reinsurance	5.52%
Property and Casualty Insurance	3.04%
Life and Health Insurance	-9.85%

Company	Last Price	7D	1Y	Valuation
A000810 Samsung Fire & Marine Insurance	₩645.00k	2.1% +₩552.6b	48.8%	PE14.6x
A005830 DB Insurance	₩165.90k	5.7% +₩539.7b	30.0%	PE6.4x
A085620 MIRAE ASSET Life Insurance	₩17.39k	12.3% +₩228.9b	143.2%	PE13.1x
A003690 Korean Reinsurance	₩14.53k	5.5% +₩134.3b	33.5%	PE7.1x
A088350 Hanwha Life Insurance	₩4.56k	3.1% +₩101.4b	34.2%	PE5x

Announcement • May 30

DB Insurance Co., Ltd. (KOSE:A005830) completed the acquisition of The Fortegra Group, Inc. from Tiptree Holdings LLC, Warburg Pincus LLC and others.

DB Insurance Co., Ltd. (KOSE:A005830) signed an agreement to acquire The Fortegra Group, Inc. from Tiptree Holdings LLC, Warburg Pincus LLC and others for approximately $1.7 billion on September 25, 2025. As part of the acquisition, DB Insurance Co., Ltd will acquire 100% of the outstanding shares of The Fortegra Group, Inc. The consideration of approximately $1.65 billion (approximately KRW 2.3 trillion) will be paid in cash. The transaction will be funded in cash with internal resources from DB Insurance. Sell side termination fee is $49.5 million. For the period ending December 31, 2024, The Fortegra Group, Inc. reported net income of $140 million (KRW 200 billion) and gross written premiums of $3.07 billion (KRW 4.4 trillion). The acquisition is subject to receipt of Tiptree stockholder approval, required regulatory approvals, Fortegra stockholder approval, regulatory approval, including certain Form A filings and other insurance regulatory approvals in certain foreign jurisdictions, clearance by the Committee on Foreign Investment in the United States and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions and is expected to close in mid-2026. As on November 17, 2025, Veradace urges shareholders to vote AGAINST the transaction at the Tiptree Special Meeting of Stockholders scheduled for December 3, 2025. As on December 3, 2025, the transaction has been approved by Tiptree shareholders. As of April 2, 2026, the transaction received approval from the financial authorities. For the final completion of the transaction, additional procedures are required, including the acceptance of the foreign direct investment filing and approval of the change in control from the financial authorities in the United States and other countries. The final closing is expected to take place within the first half of 2026. On April 28, 2026, Tiptree, The Fortegra Group, and DB Insurance Co. entered into a First Amendment to the Agreement and Plan of Merger, which amended the transaction by removing the requirement to obtain approval from the New York State Department of Financial Services for the acquisition of South Bay Acceptance Corp. and instead requiring Fortegra to use reasonable best efforts to cause South Bay Acceptance Corp. to surrender its New York premium finance agency license by May 5, 2026. The parties expect to consummate the Merger on May 29, 2026, subject to the satisfaction of remaining customary closing conditions. Barclays Capital Inc. acted as financial advisor to The Fortegra Group, Inc. Fortegra paid Barclays a fee of $3 million upon the delivery of Barclays’ opinion. Additional compensation of $9 million will be payable by Fortegra on completion of the Merger. BofA Securities, Inc. acted as financial advisor to The Fortegra Group, Inc. Fortegra has agreed to pay BofA Securities for its services in connection with the Merger an aggregate fee of $9 million. Goldman Sachs & Co. LLC acted as financial advisor to DB Insurance Co., Ltd. Suni Sreepada, Jackie Cohen, Michael R. Littenberg, David H. Saltzman, Ama A. Adams, Renata J. Ferrari, Kyle Higley, Jordan Altman and Kelly Finn of Ropes & Gray LLP acted as legal advisor to The Fortegra Group, Inc. and Tiptree Holdings LLC. Michael D. Devins, Andrew R. Holland and Kelly M. Dybala of Sidley Austin LLP acted as legal advisor to The Fortegra Group, Inc. Gary Boss, Kirsten Gaeta, Andrew Elken, Andrew Moosmann, Diona Narae Park, Regina Jinseo Kim, Alexander Traum, Tim Scott, Eric Kamerman and Megan Alessi of Latham & Watkins LLP acted as legal advisor to DB Insurance Co., Ltd. Broadridge Corporate Issuer Solutions, Inc. acted as transfer agent to Tiptree Holdings LLC. Sodali & Co. acted as proxy solicitor to Tiptree Holdings LLC. Tiptree will pay Sodali & Co a fee of $25,000. DB Insurance Co., Ltd. (KOSE:A005830) completed the acquisition of The Fortegra Group, Inc. from Tiptree Holdings LLC, Warburg Pincus LLC and others on May 29, 2026.

South Korean (KOSPI) Insurance Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

A000810: Stronger Profit Margins And Conservative P/E Will Support Undervalued Shares

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Now 21% undervalued after recent price drop

Investor sentiment improves as stock rises 19%

New major risk - Revenue and earnings growth

DB Insurance Co., Ltd. (KOSE:A005830) completed the acquisition of The Fortegra Group, Inc. from Tiptree Holdings LLC, Warburg Pincus LLC and others.