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Thai (SET) Insurance Industry Analysis
UpdatedSep 26, 2025
DataAggregated Company Financials
Companies19
- 7D-0.6%
- 3M9.0%
- 1Y-8.6%
- YTD-2.7%
Over the last 7 days, the Insurance industry has dropped 1.3%, driven by declines in TQM Alpha and Dhipaya Group Holdings of 7.9% and 4.8%, respectively. The industry has fallen 5.5% in the last year. Earnings are forecast to grow by 11% annually.
Industry Valuation and Performance
Has the Thai Insurance Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 26 Sep 2025 | ฿248.3b | ฿268.3b | ฿20.9b | 11.8x | 11.9x | 0.9x |
| Sun, 24 Aug 2025 | ฿240.9b | ฿268.3b | ฿20.9b | 11.1x | 11.5x | 0.9x |
| Tue, 22 Jul 2025 | ฿236.5b | ฿264.4b | ฿18.7b | 11x | 12.6x | 0.9x |
| Thu, 19 Jun 2025 | ฿222.8b | ฿264.4b | ฿18.7b | 10.8x | 11.9x | 0.8x |
| Sat, 17 May 2025 | ฿244.0b | ฿272.3b | ฿21.1b | 11x | 11.5x | 0.9x |
| Mon, 14 Apr 2025 | ฿237.1b | ฿267.8b | ฿22.6b | 8.9x | 10.5x | 0.9x |
| Wed, 12 Mar 2025 | ฿256.8b | ฿267.8b | ฿22.6b | 9.6x | 11.4x | 1x |
| Fri, 07 Feb 2025 | ฿240.7b | ฿261.8b | ฿20.5b | 10.4x | 11.7x | 0.9x |
| Sun, 05 Jan 2025 | ฿252.9b | ฿261.8b | ฿20.5b | 11.6x | 12.3x | 1x |
| Tue, 03 Dec 2024 | ฿263.9b | ฿261.8b | ฿20.5b | 11.7x | 12.9x | 1x |
| Thu, 31 Oct 2024 | ฿270.4b | ฿269.9b | ฿20.8b | 10.3x | 13x | 1x |
| Sat, 28 Sep 2024 | ฿273.2b | ฿263.8b | ฿20.4b | 11.2x | 13.4x | 1x |
| Mon, 26 Aug 2024 | ฿223.8b | ฿263.8b | ฿20.4b | 9.9x | 11x | 0.8x |
| Wed, 24 Jul 2024 | ฿218.8b | ฿262.8b | ฿20.2b | 10.2x | 10.8x | 0.8x |
| Fri, 21 Jun 2024 | ฿220.1b | ฿262.8b | ฿20.2b | 10.7x | 10.9x | 0.8x |
| Sun, 19 May 2024 | ฿248.6b | ฿263.3b | ฿20.2b | 10.9x | 12.3x | 0.9x |
| Tue, 16 Apr 2024 | ฿247.3b | ฿258.2b | ฿20.0b | 10.7x | 12.4x | 1x |
| Thu, 14 Mar 2024 | ฿254.1b | ฿258.2b | ฿20.0b | 11.3x | 12.7x | 1x |
| Sat, 10 Feb 2024 | ฿244.2b | ฿258.9b | ฿19.5b | 10.9x | 12.5x | 0.9x |
| Mon, 08 Jan 2024 | ฿266.8b | ฿268.9b | ฿16.2b | 12.4x | 16.4x | 1x |
| Wed, 06 Dec 2023 | ฿259.5b | ฿268.9b | ฿16.2b | 12.2x | 16x | 1x |
| Fri, 03 Nov 2023 | ฿276.1b | ฿265.6b | ฿16.9b | 13.2x | 16.4x | 1x |
| Sun, 01 Oct 2023 | ฿325.6b | ฿265.6b | ฿16.9b | 16.7x | 19.3x | 1.2x |
| Tue, 29 Aug 2023 | ฿300.2b | ฿265.6b | ฿16.9b | 14.4x | 17.8x | 1.1x |
| Thu, 27 Jul 2023 | ฿292.0b | ฿269.1b | ฿15.9b | 18.5x | 18.4x | 1.1x |
| Sat, 24 Jun 2023 | ฿322.0b | ฿269.1b | ฿15.9b | 18.8x | 20.3x | 1.2x |
| Mon, 22 May 2023 | ฿310.0b | ฿268.9b | ฿15.9b | 18.8x | 19.6x | 1.2x |
| Wed, 19 Apr 2023 | ฿329.9b | ฿271.2b | -฿14,503,187,083.00 | 15.6x | -22.7x | 1.2x |
| Fri, 17 Mar 2023 | ฿321.2b | ฿271.2b | -฿14,503,187,083.00 | 15.4x | -22.1x | 1.2x |
| Sun, 12 Feb 2023 | ฿363.3b | ฿270.2b | -฿20,943,500,043.00 | 23.9x | -17.3x | 1.3x |
| Tue, 10 Jan 2023 | ฿354.4b | ฿270.2b | -฿20,937,218,043.00 | 22.5x | -16.9x | 1.3x |
| Thu, 08 Dec 2022 | ฿371.8b | ฿270.2b | -฿20,937,218,046.00 | 23x | -17.8x | 1.4x |
| Sat, 05 Nov 2022 | ฿400.6b | ฿268.0b | -฿26,101,149,766.00 | 17.6x | -15.3x | 1.5x |
| Mon, 03 Oct 2022 | ฿400.2b | ฿267.6b | -฿26,101,146,766.00 | 18.4x | -15.3x | 1.5x |
Price to Earnings Ratio
-15.3x
Current Industry PE
- Investors are optimistic on the Thai Insurance industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 11.9x which is higher than its 3-year average PE of 7.3x.
- The 3-year average PS ratio of 1.1x is higher than the industry's current PS ratio of 0.92x.
Past Earnings Growth
- Total earnings for the Insurance industry have gone up over the last three years, and the industry is now profitable.
- Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Thai Financials industry?
| TH Market | -0.70% | |
| Financials | 0.87% | |
| Insurance | -0.64% | |
| General Insurance | 0% | 0 |
| Life and Health Insurance | -0.33% | |
| Reinsurance | -0.46% | |
| Property and Casualty Insurance | -0.50% | |
| Insurance Brokers | -6.73% | |
Industry PE
- Investors are most optimistic about the Reinsurance industry which is trading above its 3-year average PE ratio of 13.3x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 13% over the next 5 years.
- This is better than its past earnings decline of 5.6% per year.
- In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 10% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| TLI Thai Life Insurance | ฿10.70 | 0.9% +฿1.1b | 0% | PE12.2x | |
| AYUD Allianz Ayudhya Capital | ฿34.00 | 3.0% +฿389.3m | 4.6% | PE15.6x | |
| MTI Muang Thai Insurance | ฿17.90 | 2.3% +฿236.0m | 63.5% | PE24.3x | |
| TSI Thai Setakij Insurance | ฿0.05 | 25.0% +฿19.0m | -50.0% | PE1.9x | |
| TVH Thaivivat Holdings | ฿9.10 | 0.6% +฿15.0m | 7.1% | PE8.6x |