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Norwegian (OSEAX) Insurance Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies3
  • 7D2.0%
  • 3M-3.0%
  • 1Y24.1%
  • YTD-5.3%

The Insurance industry is up 1.7% in the last week, with Gjensidige Forsikring up 2.2%. In the last 12 months, the industry was up 24%. Earnings are forecast to grow by 7.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026NOK 252.0bNOK 120.2bNOK 13.9b16.5x18.1x2.1x
Fri, 13 Feb 2026NOK 251.0bNOK 84.4bNOK 14.1b15.4x17.8x3x
Sun, 11 Jan 2026NOK 255.9bNOK 113.6bNOK 13.2b19.7x19.4x2.3x
Tue, 09 Dec 2025NOK 248.9bNOK 113.6bNOK 13.2b18.7x18.9x2.2x
Thu, 06 Nov 2025NOK 241.8bNOK 113.7bNOK 13.3b15.5x18.2x2.1x
Sat, 04 Oct 2025NOK 248.7bNOK 105.3bNOK 13.3b15.7x18.7x2.4x
Mon, 01 Sep 2025NOK 245.7bNOK 105.3bNOK 13.3b15.9x18.5x2.3x
Wed, 30 Jul 2025NOK 243.1bNOK 105.3bNOK 13.3b16.1x18.3x2.3x
Fri, 27 Jun 2025NOK 222.1bNOK 90.3bNOK 13.0b15x17.1x2.5x
Sun, 25 May 2025NOK 220.6bNOK 90.3bNOK 12.9b14.2x17x2.4x
Tue, 22 Apr 2025NOK 202.2bNOK 135.4bNOK 12.1b13.5x16.7x1.5x
Thu, 20 Mar 2025NOK 206.4bNOK 135.3bNOK 12.1b14.1x17x1.5x
Sat, 15 Feb 2025NOK 193.2bNOK 74.6bNOK 12.3b13.3x15.8x2.6x
Mon, 13 Jan 2025NOK 180.2bNOK 144.1bNOK 12.0b11.5x15x1.2x
Wed, 11 Dec 2024NOK 177.4bNOK 144.1bNOK 12.0b11.2x14.8x1.2x
Fri, 08 Nov 2024NOK 174.4bNOK 144.1bNOK 12.0b11.3x14.6x1.2x
Sun, 06 Oct 2024NOK 167.5bNOK 128.1bNOK 10.0b12.8x16.7x1.3x
Tue, 03 Sep 2024NOK 162.7bNOK 128.1bNOK 10.0b12.3x16.2x1.3x
Thu, 01 Aug 2024NOK 159.0bNOK 128.1bNOK 10.0b12.1x15.8x1.2x
Sat, 29 Jun 2024NOK 164.7bNOK 126.6bNOK 8.3b15.4x19.8x1.3x
Mon, 27 May 2024NOK 162.0bNOK 126.6bNOK 8.3b15.5x19.6x1.3x
Wed, 24 Apr 2024NOK 145.5bNOK 106.1bNOK 8.9b12.9x16.3x1.4x
Fri, 22 Mar 2024NOK 141.3bNOK 106.1bNOK 8.9b13.2x15.9x1.3x
Sun, 18 Feb 2024NOK 146.5bNOK 121.3bNOK 8.9b12.6x16.5x1.2x
Tue, 16 Jan 2024NOK 147.4bNOK 157.8bNOK 9.3b16.2x15.9x0.9x
Thu, 14 Dec 2023NOK 151.4bNOK 157.8bNOK 9.3b16.8x16.3x1x
Sat, 11 Nov 2023NOK 141.2bNOK 157.8bNOK 9.3b15.5x15.2x0.9x
Mon, 09 Oct 2023NOK 131.1bNOK 154.1bNOK 9.5b14.2x13.9x0.9x
Wed, 06 Sep 2023NOK 134.6bNOK 154.1bNOK 9.5b14.3x14.2x0.9x
Fri, 04 Aug 2023NOK 132.5bNOK 154.1bNOK 9.5b14.4x14x0.9x
Sun, 02 Jul 2023NOK 137.9bNOK 93.3bNOK 8.4b16.2x16.5x1.5x
Tue, 30 May 2023NOK 142.9bNOK 93.3bNOK 8.4b15.8x17.1x1.5x
Thu, 27 Apr 2023NOK 139.1bNOK 55.4bNOK 7.8b15.6x17.8x2.5x
Sat, 25 Mar 2023NOK 128.5bNOK 55.4bNOK 7.8b14.3x16.5x2.3x
Price to Earnings Ratio

16.5x


Total Market Cap: NOK 128.5bTotal Earnings: NOK 7.8bTotal Revenue: NOK 55.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Insurance Industry Price to Earnings3Y Average 16.8x202420252026
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 21% per year over the last three years.
  • Revenues for these companies have grown 29% 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 Market3.64%
Financials0.085%
Insurance2.02%
General Insurance2.59%
Life and Health Insurance0.69%
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 19.3x.
    • Analysts are expecting annual earnings growth of 8.2%, which is lower than the prior year's growth of 48.1% 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 8.2% over the next 5 years.
  • However this is lower than its past earnings growth rate of 48% per year.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 4.2% 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
GJF Gjensidige ForsikringNOK 268.802.0%
+NOK 2.6b		10.7%PE21.4x
PROT Protector ForsikringNOK 530.004.5%
+NOK 1.9b		64.6%PE16.5x
STB StorebrandNOK 175.200.7%
+NOK 445.0m		34.3%PE14.7x

Latest News

PROT
NOK 530.00
Protector Forsikring
7D
4.5%
1Y
64.6%

PROT: Future Returns Will Rely On Stable Dividend And Earnings Power

Analyst price targets for Protector Forsikring remain unchanged at NOK 600. Analysts point to stable assumptions on the discount rate, revenue growth, profit margin and forward P/E as support for keeping their valuation steady.
GJF
NOK 268.80
Gjensidige Forsikring
7D
2.0%
1Y
10.7%

GJF: Special Dividend And Reduced P E Expectations Will Drive Returns

Analysts have trimmed their price targets on Gjensidige Forsikring by NOK 10. This reflects more cautious views on revenue growth, profit margins and future P/E multiples following recent downgrades and target cuts from the Street.
STB
NOK 175.20
Storebrand
7D
0.7%
1Y
34.3%