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U.S. Insurance Industry Analysis

UpdatedFeb 18, 2026
DataAggregated Company Financials
Companies128
  • 7D1.2%
  • 3M0.7%
  • 1Y-3.4%
  • YTD-1.2%

Over the last 7 days, the Insurance industry has risen 1.2%, driven by gains in Progressive and Allstate of 2.6% and 5.6%, respectively. In the same time, Assurant was down 6.5%. In contrast, the industry has lost 3.4% in the last 12 months. Looking forward, earnings are forecast to grow by 4.4% annually.

Industry Valuation and Performance

Has the U.S. Insurance Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Feb 2026US$1.3tUS$950.2bUS$106.0b12.3x12.6x1.4x
Fri, 16 Jan 2026US$1.4tUS$931.1bUS$99.3b12.8x13.6x1.5x
Sun, 14 Dec 2025US$1.4tUS$931.1bUS$99.3b13.5x14.1x1.5x
Tue, 11 Nov 2025US$1.4tUS$931.8bUS$100.0b13.3x13.5x1.5x
Thu, 09 Oct 2025US$1.4tUS$919.0bUS$88.6b14.2x16.3x1.6x
Sat, 06 Sep 2025US$1.4tUS$919.1bUS$88.6b14.4x16.1x1.5x
Mon, 04 Aug 2025US$1.4tUS$916.2bUS$88.8b13.6x15.2x1.5x
Wed, 02 Jul 2025US$1.4tUS$904.1bUS$82.6b14.5x17.3x1.6x
Fri, 30 May 2025US$1.4tUS$902.7bUS$82.3b14.8x17.5x1.6x
Sun, 27 Apr 2025US$1.4tUS$904.3bUS$91.2b13.5x15.3x1.5x
Tue, 25 Mar 2025US$1.5tUS$897.3bUS$93.0b14x15.7x1.6x
Thu, 20 Feb 2025US$1.4tUS$895.6bUS$93.1b12.9x15x1.6x
Sat, 18 Jan 2025US$1.4tUS$892.9bUS$91.5b13.1x15.2x1.6x
Mon, 16 Dec 2024US$1.4tUS$893.2bUS$91.1b13.1x15.2x1.5x
Wed, 13 Nov 2024US$1.4tUS$891.6bUS$91.1b13.2x15.6x1.6x
Fri, 11 Oct 2024US$1.4tUS$855.0bUS$87.4b13.8x15.9x1.6x
Sun, 08 Sep 2024US$1.4tUS$855.4bUS$87.0b13.8x15.7x1.6x
Tue, 06 Aug 2024US$1.3tUS$851.5bUS$86.4b13.4x15x1.5x
Thu, 04 Jul 2024US$1.2tUS$823.2bUS$79.2b13.4x14.8x1.4x
Sat, 01 Jun 2024US$1.2tUS$823.4bUS$79.2b12.9x14.9x1.4x
Mon, 29 Apr 2024US$1.1tUS$804.1bUS$71.4b14.1x16x1.4x
Wed, 27 Mar 2024US$1.2tUS$792.6bUS$67.0b14.8x17.7x1.5x
Fri, 23 Feb 2024US$1.1tUS$791.4bUS$65.6b14x17.2x1.4x
Sun, 21 Jan 2024US$1.1tUS$790.2bUS$48.8b12.7x23.3x1.4x
Tue, 19 Dec 2023US$1.1tUS$792.9bUS$47.7b13.3x22.7x1.4x
Thu, 16 Nov 2023US$1.1tUS$792.8bUS$47.2b12.4x22.8x1.4x
Sat, 14 Oct 2023US$1.0tUS$799.5bUS$38.9b15x27x1.3x
Mon, 11 Sep 2023US$1.0tUS$799.3bUS$38.7b14.4x26.1x1.3x
Wed, 09 Aug 2023US$1.0tUS$798.7bUS$40.1b15.5x25.4x1.3x
Fri, 07 Jul 2023US$981.5bUS$777.7bUS$36.9b16.8x26.6x1.3x
Sun, 04 Jun 2023US$955.0bUS$774.5bUS$35.2b15.2x27.2x1.2x
Tue, 02 May 2023US$990.9bUS$765.2bUS$45.3b15.3x21.9x1.3x
Thu, 30 Mar 2023US$947.7bUS$759.4bUS$44.2b15x21.5x1.2x
Sat, 25 Feb 2023US$1.0tUS$763.7bUS$42.9b16.3x23.9x1.3x
Price to Earnings Ratio

23.9x


Total Market Cap: US$1.0tTotal Earnings: US$42.9bTotal Revenue: US$763.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 18.5x202420252026
Current Industry PE
  • Investors are pessimistic on the American 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 12.6x which is lower than its 3-year average PE of 18.5x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 35% per year over the last three years.
  • Revenues for these companies have grown 7.6% 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 U.S. Financials industry?

US Market-1.58%
Financials-2.57%
Insurance1.25%
Reinsurance3.56%
Property and Casualty Insurance1.55%
Insurance Brokers0.86%
General Insurance0.60%
Life and Health Insurance0.34%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 36.9x.
    • Analysts are expecting annual earnings growth of 13.8%, which is lower than the prior year's growth of 45.5% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 15.8x.
Forecasted Growth
  • Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 46% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PGR ProgressiveUS$207.902.6%
+US$3.1b		-21.2%PE10.8x
ALL AllstateUS$212.325.6%
+US$2.9b		12.4%PE5.4x
CB ChubbUS$331.891.7%
+US$2.2b		24.5%PE12.6x
AIG American International GroupUS$79.405.9%
+US$2.1b		5.2%PE13.8x
AON AonUS$325.962.5%
+US$1.5b		-16.7%PE18.9x

Latest News

BRO
US$68.83
Brown & Brown
7D
1.8%
1Y
-38.3%
TRV
US$299.23
Travelers Companies
7D
0.2%
1Y
25.5%
AON
US$325.96
Aon
7D
2.5%
1Y
-16.7%
RYAN
US$39.69
Ryan Specialty Holdings
7D
-11.6%
1Y
-43.0%

RYAN: Softening P&C Cycle And Capital Moves Will Shape Future Repricing

Analysts have trimmed the fair value estimate for Ryan Specialty Holdings to $43 from $52, reflecting updated views on slower revenue growth assumptions, slightly lower profit margins, and a reduced future P/E multiple across recent Street research. Analyst Commentary Recent Street research on Ryan Specialty Holdings has shifted in a more cautious direction, with several bearish analysts trimming price targets and highlighting potential pressure on growth, margins, and valuation multiples.
KNSL
US$376.65
Kinsale Capital Group
7D
-5.4%
1Y
-14.8%

Kinsale Capital Group, Inc. (NYSE:KNSL) Just Released Its Full-Year Results And Analysts Are Updating Their Estimates

Feb 15
Kinsale Capital Group, Inc. (NYSE:KNSL) Just Released Its Full-Year Results And Analysts Are Updating Their Estimates
AIG
US$79.40
American International Group
7D
5.9%
1Y
5.2%

AIG: Future Capital Discipline And Softening P&C Cycle Will Shape Re Rating

The updated analyst price target for American International Group now reflects a modest downward adjustment of about $0.10, as analysts balance slightly firmer assumptions for revenue growth and profit margins with a higher discount rate and mixed recent price target revisions across the Street. Analyst Commentary Street research on American International Group has been mixed recently, with both price target increases and reductions clustered over the past few months.
PFG
US$91.98
Principal Financial Group
7D
-1.8%
1Y
6.2%

Principal Financial Group (NASDAQ:PFG) Will Pay A Larger Dividend Than Last Year At $0.80

Feb 13
Principal Financial Group (NASDAQ:PFG) Will Pay A Larger Dividend Than Last Year At $0.80
NP
US$19.39
Neptune Insurance Holdings
7D
-17.1%
1Y
n/a
AFL
US$115.42
Aflac
7D
-0.4%
1Y
10.7%
AIZ
US$221.04
Assurant
7D
-6.5%
1Y
9.7%
WTW
US$295.50
Willis Towers Watson
7D
5.5%
1Y
-9.3%
CB
US$331.89
Chubb
7D
1.7%
1Y
24.5%

CB: Buybacks And Margin Outlook Will Support A Steady Future Profile

Narrative Update on Chubb Analysts have lifted their price target on Chubb to approximately $336 from about $321, pointing to updated assumptions that include a slightly higher discount rate, a softer revenue growth outlook, modestly higher profit margins, and a marginally lower future P/E estimate. What's in the News From October 1, 2025 to December 31, 2025, Chubb repurchased 3,887,475 shares for about US$1.1b, representing 0.99% of shares outstanding under its ongoing buyback program (Key Developments).
PGR
US$207.90
Progressive
7D
2.6%
1Y
-21.2%

PGR: Underwriting Strength And Policy Momentum Will Support Earnings Through Cycle Changes

Analysts have trimmed their price targets on Progressive, with the updated fair value estimate moving from about $325 to about $303 as they factor in expectations for softer revenue growth, a slightly higher discount rate, a lower future P/E, and modestly higher profit margins. Analyst Commentary Recent Street research around Progressive has been mixed, but there are several clear positive threads that stand out for investors watching how professionals are framing the story.
EG
US$346.03
Everest Group
7D
4.7%
1Y
2.3%

EG: Mixed Pricing Trends And Capital Returns Will Shape Future Earnings Resilience

Analysts have trimmed their average price target on Everest Group by about $4 to around $363. This reflects updated assumptions around revenue growth, profit margins, and forward P/E as they balance mixed views on pricing trends and valuations across the property and casualty insurance group.
ALL
US$212.32
Allstate
7D
5.6%
1Y
12.4%
LMND
US$64.59
Lemonade
7D
-9.8%
1Y
67.8%

LMND: Tesla Partnership And Sector Softness Will Likely Balance Profit Recovery Hopes

Narrative Update: Analyst Price Target Shift for Lemonade Analysts have nudged their price targets on Lemonade higher by up to US$7 in recent research, reflecting updated models around its Tesla partnership, evolving views on the auto insurance opportunity, and revised long term assumptions that keep fair value estimates broadly unchanged. Analyst Commentary Recent research paints a mixed picture of Lemonade, with several firms lifting price targets on the back of updated assumptions around its auto offering and the Tesla partnership, while others keep more cautious ratings in place.