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Thai (SET) Insurance Industry Analysis
UpdatedAug 21, 2026
DataAggregated Company Financials
Companies18
- 7D0.09%
- 3M5.5%
- 1Y17.4%
- YTD16.9%
The Insurance is pretty flat in the last 7 days, but Allianz Ayudhya Capital has stood out, gaining 5.9%. As for the the longer term, the industry is up 17% over the past 12 months. Earnings are forecast to grow by 4.8% 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, 21 Aug 2026 | ฿281.6b | ฿200.1b | ฿30.8b | 10.1x | 9.1x | 1.4x |
| Sun, 19 Jul 2026 | ฿287.9b | ฿201.7b | ฿30.9b | 10.7x | 9.3x | 1.4x |
| Tue, 16 Jun 2026 | ฿269.1b | ฿201.8b | ฿30.7b | 9.7x | 8.8x | 1.3x |
| Thu, 14 May 2026 | ฿246.7b | ฿201.2b | ฿28.9b | 9.5x | 8.5x | 1.2x |
| Sat, 11 Apr 2026 | ฿253.1b | ฿200.5b | ฿28.3b | 10.4x | 8.9x | 1.3x |
| Mon, 09 Mar 2026 | ฿243.0b | ฿202.4b | ฿28.4b | 9.7x | 8.5x | 1.2x |
| Wed, 04 Feb 2026 | ฿263.0b | ฿269.2b | ฿23.0b | 10.7x | 11.5x | 1x |
| Fri, 02 Jan 2026 | ฿238.8b | ฿269.2b | ฿23.0b | 10.5x | 10.4x | 0.9x |
| Sun, 30 Nov 2025 | ฿233.4b | ฿269.1b | ฿22.9b | 9.5x | 10.2x | 0.9x |
| Tue, 28 Oct 2025 | ฿243.1b | ฿265.6b | ฿21.7b | 11.1x | 11.2x | 0.9x |
| Thu, 25 Sep 2025 | ฿248.0b | ฿268.3b | ฿20.9b | 11.9x | 11.9x | 0.9x |
| Sat, 23 Aug 2025 | ฿240.9b | ฿268.3b | ฿20.9b | 11.1x | 11.5x | 0.9x |
| Mon, 21 Jul 2025 | ฿236.3b | ฿264.4b | ฿18.7b | 11.3x | 12.6x | 0.9x |
| Wed, 18 Jun 2025 | ฿228.0b | ฿264.4b | ฿18.7b | 10.8x | 12.2x | 0.9x |
| Fri, 16 May 2025 | ฿242.9b | ฿273.5b | ฿21.3b | 11x | 11.4x | 0.9x |
| Sun, 13 Apr 2025 | ฿237.1b | ฿267.8b | ฿22.6b | 8.9x | 10.5x | 0.9x |
| Tue, 11 Mar 2025 | ฿257.6b | ฿267.8b | ฿22.6b | 9.6x | 11.4x | 1x |
| Thu, 06 Feb 2025 | ฿243.0b | ฿261.8b | ฿20.5b | 10.8x | 11.9x | 0.9x |
| Sat, 04 Jan 2025 | ฿252.9b | ฿261.8b | ฿20.5b | 11.6x | 12.3x | 1x |
| Mon, 02 Dec 2024 | ฿255.9b | ฿261.8b | ฿20.5b | 11.6x | 12.5x | 1x |
| Wed, 30 Oct 2024 | ฿274.2b | ฿269.9b | ฿20.8b | 10.5x | 13.2x | 1x |
| Fri, 27 Sep 2024 | ฿271.3b | ฿263.8b | ฿20.4b | 11.2x | 13.3x | 1x |
| Sun, 25 Aug 2024 | ฿223.8b | ฿263.8b | ฿20.4b | 9.9x | 11x | 0.8x |
| Tue, 23 Jul 2024 | ฿219.4b | ฿262.8b | ฿20.2b | 10.3x | 10.9x | 0.8x |
| Thu, 20 Jun 2024 | ฿220.4b | ฿262.8b | ฿20.2b | 10.5x | 10.9x | 0.8x |
| Sat, 18 May 2024 | ฿248.6b | ฿263.3b | ฿20.2b | 10.9x | 12.3x | 0.9x |
| Mon, 15 Apr 2024 | ฿247.3b | ฿258.2b | ฿20.0b | 10.7x | 12.4x | 1x |
| Wed, 13 Mar 2024 | ฿251.8b | ฿258.2b | ฿20.0b | 11.2x | 12.6x | 1x |
| Fri, 09 Feb 2024 | ฿246.2b | ฿258.9b | ฿19.5b | 11.1x | 12.6x | 1x |
| Sun, 07 Jan 2024 | ฿266.8b | ฿268.9b | ฿16.2b | 12.4x | 16.4x | 1x |
| Tue, 05 Dec 2023 | ฿259.5b | ฿268.9b | ฿16.2b | 12.2x | 16x | 1x |
| Thu, 02 Nov 2023 | ฿283.5b | ฿265.6b | ฿16.9b | 13.9x | 16.8x | 1.1x |
| Sat, 30 Sep 2023 | ฿325.6b | ฿265.6b | ฿16.9b | 16.7x | 19.3x | 1.2x |
| Mon, 28 Aug 2023 | ฿298.0b | ฿265.6b | ฿16.9b | 14.3x | 17.7x | 1.1x |
Price to Earnings Ratio
17.7x
Current Industry PE
- Investors are pessimistic on the Thai Insurance industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 9.2x which is lower than its 3-year average PE of 12.1x.
- The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
- The earnings for companies in the Insurance industry have grown 22% per year over the last three years.
- Meanwhile revenues for these companies have declined 9.0% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Thai Financials industry?
| TH Market | -0.24% | |
| Financials | -0.58% | |
| Insurance | 0.093% | |
| Reinsurance | 4.30% | |
| Insurance Brokers | 3.89% | |
| Property and Casualty Insurance | 1.32% | |
| Life and Health Insurance | -0.47% | |
| General Insurance | -6.72% | |
Industry PE
- Investors are most optimistic about the Reinsurance industry, which is trading close to its 3-year average PE ratio of 21.9x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the General Insurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 7.8% over the next 5 years.
- This is better than its past earnings growth rate of 2.0% per year.
- In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 4.7% 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 | ฿11.50 | 3.6% +฿4.6b | 11.7% | PE10.9x | |
| BLA Bangkok Life Assurance | ฿24.80 | 2.5% +฿1.0b | 34.1% | PE5.9x | |
| BKIH BKI Holdings | ฿385.00 | 1.0% +฿416.2m | 33.7% | PE10.2x | |
| TIPH Dhipaya Group Holdings | ฿23.70 | 3.0% +฿416.0m | 17.9% | PE12.7x | |
| TQM TQM Alpha | ฿16.90 | 3.0% +฿290.9m | 18.2% | PE14x |