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Norwegian (OSEAX) Insurance Industry Analysis

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies3
  • 7D0.9%
  • 3M8.6%
  • 1Y12.6%
  • YTD-6.2%

In the last week, the Insurance industry is up 1.8%, with all of the companies up. This takes the industry's 12 month performance to a gain of 14%. Looking forward, earnings are forecast to grow by 9.6% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Jun 2026NOK 249.3bNOK 134.2bNOK 13.2b19.4x18.9x1.9x
Mon, 25 May 2026NOK 243.8bNOK 134.2bNOK 13.2b18.9x18.5x1.8x
Wed, 22 Apr 2026NOK 245.0bNOK 120.2bNOK 13.9b15.5x17.6x2x
Fri, 20 Mar 2026NOK 244.1bNOK 120.2bNOK 13.9b15.5x17.5x2x
Sun, 15 Feb 2026NOK 247.9bNOK 120.2bNOK 14.1b15.3x17.6x2.1x
Tue, 13 Jan 2026NOK 255.4bNOK 113.6bNOK 13.2b19.7x19.4x2.2x
Thu, 11 Dec 2025NOK 256.1bNOK 113.6bNOK 13.2b19x19.4x2.3x
Sat, 08 Nov 2025NOK 240.9bNOK 113.7bNOK 13.3b15.3x18.2x2.1x
Mon, 06 Oct 2025NOK 248.7bNOK 105.3bNOK 13.3b15.7x18.7x2.4x
Wed, 03 Sep 2025NOK 240.4bNOK 105.3bNOK 13.3b15.5x18.1x2.3x
Fri, 01 Aug 2025NOK 241.1bNOK 105.3bNOK 13.3b15.9x18.1x2.3x
Sun, 29 Jun 2025NOK 222.7bNOK 90.3bNOK 13.0b15.1x17.2x2.5x
Tue, 27 May 2025NOK 223.8bNOK 90.3bNOK 12.9b14.5x17.3x2.5x
Thu, 24 Apr 2025NOK 205.0bNOK 135.4bNOK 12.1b14.1x16.9x1.5x
Sat, 22 Mar 2025NOK 199.9bNOK 135.4bNOK 12.1b14.1x16.5x1.5x
Mon, 17 Feb 2025NOK 193.2bNOK 74.6bNOK 12.3b13.3x15.8x2.6x
Wed, 15 Jan 2025NOK 181.7bNOK 144.1bNOK 12.0b11.4x15.2x1.3x
Fri, 13 Dec 2024NOK 176.9bNOK 144.1bNOK 12.0b11.1x14.8x1.2x
Sun, 10 Nov 2024NOK 175.0bNOK 144.1bNOK 12.0b11.4x14.6x1.2x
Tue, 08 Oct 2024NOK 166.8bNOK 128.1bNOK 10.0b12.9x16.6x1.3x
Thu, 05 Sep 2024NOK 161.7bNOK 128.1bNOK 10.0b12.3x16.1x1.3x
Sat, 03 Aug 2024NOK 154.3bNOK 128.1bNOK 10.0b11.5x15.4x1.2x
Mon, 01 Jul 2024NOK 164.7bNOK 126.6bNOK 8.3b15.4x19.8x1.3x
Wed, 29 May 2024NOK 161.0bNOK 126.6bNOK 8.3b15.4x19.5x1.3x
Fri, 26 Apr 2024NOK 154.4bNOK 125.9bNOK 8.6b14.7x17.9x1.2x
Sun, 24 Mar 2024NOK 140.4bNOK 106.1bNOK 8.9b13.2x15.8x1.3x
Tue, 20 Feb 2024NOK 145.8bNOK 121.3bNOK 8.9b12.5x16.4x1.2x
Thu, 18 Jan 2024NOK 146.2bNOK 157.8bNOK 9.3b16.2x15.7x0.9x
Sat, 16 Dec 2023NOK 149.3bNOK 157.8bNOK 9.3b16.2x16.1x0.9x
Mon, 13 Nov 2023NOK 141.2bNOK 157.8bNOK 9.3b15.5x15.2x0.9x
Wed, 11 Oct 2023NOK 132.1bNOK 154.1bNOK 9.5b14.3x14x0.9x
Fri, 08 Sep 2023NOK 132.4bNOK 154.1bNOK 9.5b14.1x14x0.9x
Sun, 06 Aug 2023NOK 133.1bNOK 154.1bNOK 9.5b14.4x14.1x0.9x
Tue, 04 Jul 2023NOK 137.8bNOK 93.3bNOK 8.4b16.3x16.5x1.5x
Price to Earnings Ratio

16.5x


Total Market Cap: NOK 137.8bTotal Earnings: NOK 8.4bTotal Revenue: NOK 93.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Insurance Industry Price to Earnings3Y Average 16.9x202420252026
Current Industry PE
    There are only 3 companies in the Norwegian Insurance industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 16% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

NO Market-2.35%
Financials-0.16%
Insurance0.86%
Life and Health Insurance2.19%
General Insurance0.28%
Property and Casualty Insurance0%0
Industry PE
  • Investors are most optimistic about the General Insurance industry, which is trading close to its 3-year average PE ratio of 19.4x.
    • Analysts are expecting annual earnings growth of 10.6%, which is lower than the prior year's growth of 14.9% per year.
  • Investors are most pessimistic about the Life and Health Insurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 13.1x.
Forecasted Growth
  • Analysts are most optimistic on the General Insurance industry, expecting annual earnings growth of 11% over the next 5 years.
  • However this is lower than its past earnings growth rate of 15% per year.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 7.5% 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
STB StorebrandNOK 182.302.2%
+NOK 1.6b		29.7%PE16.6x
PROT Protector ForsikringNOK 477.601.0%
+NOK 379.5m		11.6%PE19.4x
GJF Gjensidige ForsikringNOK 266.600.08%
+NOK 100.0m		4.9%PE20.4x

Latest News

PROT
NOK 477.60
Protector Forsikring
7D
1.0%
1Y
11.6%
Narrative Update • Jun 25

PROT: Future Upside Will Rely On Capital Returns And Affirmed Credit Strength

Analysts have kept their NOK 581.25 price target for Protector Forsikring unchanged, citing stable assumptions around the discount rate, revenue growth, profit margin and future P/E in their latest update. What’s in the News for Protector Forsikring AM Best affirmed Protector Forsikring ASA’s Financial Strength Rating at A- (Excellent) and Long-Term Issuer Credit Rating at "a-" (Excellent), with a stable outlook, citing a strong balance sheet, robust operating performance, a neutral business profile and effective enterprise risk management.
GJF
NOK 266.60
Gjensidige Forsikring
7D
0.08%
1Y
4.9%
Narrative Update • Jun 24

GJF: Dividends And Sector Re Rating Will Drive Balanced Future Returns

Gjensidige Forsikring’s updated analyst price target has been trimmed slightly to about NOK 290, with analysts pointing to modestly adjusted growth and discount rate assumptions, partly offset by expectations for a somewhat stronger profit margin and a lower future P/E multiple after recent rating upgrades in the sector. Analyst Commentary Recent research on Gjensidige Forsikring shows a clear shift toward a more neutral stance, with price targets in the NOK 250 to NOK 290 range and commentary that the earlier de-rating of Nordic insurers may have gone too far.
STB
NOK 182.30
Storebrand
7D
2.2%
1Y
29.7%