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U.S. Insurance Industry Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies126
  • 7D0.3%
  • 3M9.1%
  • 1Y4.7%
  • YTD6.4%

Last week, the Insurance industry hasn't moved much but Travelers Companies is up 9.7% in that time. The past year has been better, since the industry has gained 4.7% in that time. Looking forward, earnings are forecast to grow by 1.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026US$1.4tUS$960.7bUS$114.9b12.4x12.6x1.5x
Fri, 19 Jun 2026US$1.3tUS$959.7bUS$114.0b11.3x11.6x1.4x
Sun, 17 May 2026US$1.3tUS$959.6bUS$114.0b11.1x11.4x1.4x
Tue, 14 Apr 2026US$1.3tUS$946.2bUS$105.4b11.5x12.3x1.4x
Thu, 12 Mar 2026US$1.3tUS$946.2bUS$105.4b11.4x12.4x1.4x
Sat, 07 Feb 2026US$1.4tUS$946.4bUS$107.0b12.9x12.8x1.5x
Mon, 05 Jan 2026US$1.4tUS$931.1bUS$99.3b12.9x13.9x1.5x
Wed, 03 Dec 2025US$1.4tUS$931.0bUS$99.2b13.1x13.8x1.5x
Fri, 31 Oct 2025US$1.3tUS$926.2bUS$92.5b13.2x14.2x1.4x
Sun, 28 Sep 2025US$1.4tUS$919.1bUS$88.7b13.6x15.9x1.5x
Tue, 26 Aug 2025US$1.4tUS$918.4bUS$88.5b14.6x16x1.5x
Thu, 24 Jul 2025US$1.4tUS$910.3bUS$85.7b14.5x16.3x1.5x
Sat, 21 Jun 2025US$1.4tUS$904.1bUS$82.6b14.1x17.1x1.6x
Mon, 19 May 2025US$1.5tUS$902.8bUS$82.1b15.2x17.7x1.6x
Wed, 16 Apr 2025US$1.4tUS$897.3bUS$92.9b13.4x15.5x1.6x
Fri, 14 Mar 2025US$1.4tUS$897.4bUS$93.0b12.8x15.3x1.6x
Sun, 09 Feb 2025US$1.4tUS$904.8bUS$95.8b12.4x14.7x1.6x
Tue, 07 Jan 2025US$1.4tUS$892.9bUS$91.5b13x14.9x1.5x
Thu, 05 Dec 2024US$1.5tUS$893.2bUS$91.1b13.4x15.9x1.6x
Sat, 02 Nov 2024US$1.4tUS$884.9bUS$89.5b13.3x15.3x1.5x
Mon, 30 Sep 2024US$1.4tUS$855.0bUS$87.4b13.9x15.9x1.6x
Wed, 28 Aug 2024US$1.4tUS$855.4bUS$87.0b14x15.6x1.6x
Fri, 26 Jul 2024US$1.2tUS$828.3bUS$81.5b13x14.8x1.5x
Sun, 23 Jun 2024US$1.2tUS$823.4bUS$79.2b13.1x15x1.4x
Tue, 21 May 2024US$1.2tUS$823.1bUS$79.1b12.5x15.2x1.5x
Thu, 18 Apr 2024US$1.1tUS$797.1bUS$68.9b14.6x16.3x1.4x
Sat, 16 Mar 2024US$1.2tUS$792.5bUS$66.9b14.4x17.5x1.5x
Mon, 12 Feb 2024US$1.1tUS$784.4bUS$61.3b12.2x18.1x1.4x
Wed, 10 Jan 2024US$1.1tUS$790.2bUS$48.8b12.7x22.7x1.4x
Fri, 08 Dec 2023US$1.1tUS$792.7bUS$47.5b13.1x23x1.4x
Sun, 05 Nov 2023US$1.1tUS$790.3bUS$46.8b12.8x22.7x1.3x
Tue, 03 Oct 2023US$1.0tUS$799.1bUS$38.9b14.5x26.4x1.3x
Thu, 31 Aug 2023US$1.0tUS$799.3bUS$38.7b15.2x26.5x1.3x
Sat, 29 Jul 2023US$1.0tUS$791.2bUS$41.3b15.6x24.7x1.3x
Price to Earnings Ratio

24.7x


Total Market Cap: US$1.0tTotal Earnings: US$41.3bTotal Revenue: US$791.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 16.7x202420252026
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 16.7x.
  • 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 41% per year over the last three years.
  • Revenues for these companies have grown 6.7% 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-0.68%
Financials-0.076%
Insurance0.29%
Reinsurance1.15%
Life and Health Insurance0.77%
Insurance Brokers0.59%
Property and Casualty Insurance-0.034%
General Insurance-1.14%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 35.6x.
    • Analysts are expecting annual earnings growth of 12.9%, which is lower than the prior year's growth of 48.1% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 9.6x.
Forecasted Growth
  • Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 13% over the next 5 years.
  • However this is lower than its past earnings growth rate of 48% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 5.1% 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
TRV Travelers CompaniesUS$369.639.7%
+US$5.5b		38.6%PE9.4x
CB ChubbUS$354.802.5%
+US$3.3b		27.3%PE12.2x
MAAS MaaseUS$19.9941.7%
+US$2.6b		n/aPS9032.1x
MRSH Marsh & McLennan CompaniesUS$181.592.0%
+US$1.7b		-13.7%PE22x
PRU Prudential FinancialUS$118.593.3%
+US$1.3b		13.8%PE12x

Latest News

MRSH
US$181.59
Marsh & McLennan Companies
7D
2.0%
1Y
-13.7%
Seeking Alpha • 5h

Marsh & McLennan: Maintaining My 'Buy' Recommendation Following Q2 Earnings

Summary Marsh & McLennan Companies, Inc. remains a compelling long-term growth play despite recent underperformance and cyclical headwinds in the insurance sector. Q2 2026 saw resilient 6% revenue growth, driven mainly by organic initiatives, but margin pressure from rising expenses and a soft P&C pricing cycle. MRSH stock’s valuation at 20x forward earnings is below its five-year average, supporting a maintained 'buy' rating as cyclical weakness overshadows solid fundamentals. Capital returns favor share buybacks over dividends, with a 2.3% yield and ongoing deleveraging post-McGriff acquisition, positioning MRSH for future flexibility. Read the full article on Seeking Alpha
CB
US$354.80
Chubb
7D
2.5%
1Y
27.3%
TRV
US$369.63
Travelers Companies
7D
9.7%
1Y
38.6%
New Narrative • Jul 21

AI And Data-Driven Underwriting Will Support Stronger Long-Term Returns

Catalysts About Travelers Companies Travelers Companies is a large property and casualty insurer operating across Business Insurance, Bond & Specialty Insurance, and Personal Insurance. What are the underlying business or industry changes driving this perspective?
PRU
US$118.59
Prudential Financial
7D
3.3%
1Y
13.8%
Seeking Alpha • Jul 20

Prudential: Insurance Strength Pairs Well With A Near 5% Yield (Rating Upgrade)

Summary Prudential Financial is rated a "Buy," viewed as undervalued with supportive industry tailwinds and improving technicals. Q1 results exceeded expectations: non-GAAP EPS of $3.61 vs. $3.11 consensus, $15.23 billion revenue, and strong PGIM performance. Valuation is compelling—using $14.20 normalized EPS and a 9x P/E, shares should trade near $128, with a 4.7% yield. Key risks include global market weakness and Prudential of Japan’s sales suspension, but balance sheet strength and technical momentum support the bullish thesis. Read the full article on Seeking Alpha
HIG
US$141.98
Hartford Insurance Group
7D
2.8%
1Y
15.2%
MAAS
US$19.99
Maase
7D
41.7%
1Y
n/a
ERIE
US$215.82
Erie Indemnity
7D
-9.5%
1Y
-40.7%
ACGL
US$100.55
Arch Capital Group
7D
-1.0%
1Y
13.0%
Seeking Alpha • Jul 17

Arch Capital: The Real Test Begins As Reinsurance Pricing Softens

Summary Arch Capital retains a Conditional Quality Buy rating, contingent on maintaining profitability and book value growth amid declining reinsurance pricing. Q1 2026 results confirm robust underwriting and a 15.4% operating ROE, but headline strength reflects favorable reserve releases from prior periods. ACGL’s strong balance sheet and capital flexibility allow disciplined risk selection, enabling avoidance of poorly priced contracts without liquidity pressure. Buy thesis hinges on ACGL preserving margins and ROE as earned reinsurance premiums decline; Hold becomes justified if profitability erodes alongside volume. Read the full article on Seeking Alpha
PGR
US$205.90
Progressive
7D
-9.1%
1Y
-16.8%
AFL
US$123.59
Aflac
7D
1.3%
1Y
20.3%
Seeking Alpha • Jul 16

Aflac - Underperformance Confirmed In 2026

Summary Aflac trades at a 16-17x P/E premium despite sector risks and a low 2% yield. I see earnings forecasted to drop 6% in 2026E, with recovery uncertain and valuation above historical averages. Japan exposure, demographic headwinds, and CRE risks limit AFL’s appeal at current prices. I rate AFL a HOLD with an $80/share target, citing quality but insufficient valuation upside. Read the full article on Seeking Alpha
BNT
US$42.63
Brookfield Wealth Solutions
7D
-2.7%
1Y
-3.6%
AJG
US$248.22
Arthur J. Gallagher
7D
-2.2%
1Y
-20.5%
Narrative Update • Jul 13

AJG: Broker Resilience And Margin Upside Are Expected To Unlock Repricing Potential

Arthur J. Gallagher's updated analyst price target rises to $349.17 from $336.47, reflecting analysts' refreshed views on broker resilience, margin potential and valuation, as highlighted across recent target increases from firms following the stock.
AIG
US$80.24
American International Group
7D
1.6%
1Y
-1.4%
Seeking Alpha • Jul 13

AIG: An Opportunity To Buy This Global P&C Leader, While Still Undervalued

Summary American International Group (AIG) is upgraded to buy, driven by undervaluation, improving insurance metrics, and a robust investment-grade balance sheet. AIG's combined ratio and margins are improving, with the analyst consensus forecasting +12.8% YoY EPS growth and 19 upward revisions. Dividend growth and safety are meaningful, with AIG leading its peer group in 5-year dividend growth and maintaining a conservative payout ratio. Key risks remain from outsized catastrophe events, but diversified assets and liquidity position AIG as both a growth and dividend idea. Read the full article on Seeking Alpha
NP
US$30.34
Neptune Insurance Holdings
7D
-4.6%
1Y
n/a
BRO
US$66.64
Brown & Brown
7D
-2.7%
1Y
-35.5%
Narrative Update • Jul 09

BRO: Cyber And Real Estate Partnerships Will Support Measured Future Upside

Analysts have raised their fair value estimate for Brown & Brown to $73.38 from $71.50, citing updated assumptions related to revenue growth, profit margins, and a slightly higher future P/E multiple. What’s in the News for Brown & Brown Brown & Brown was dropped from the Russell 3000E Growth Benchmark index.
PFG
US$109.57
Principal Financial Group
7D
-3.0%
1Y
36.6%