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U.S. Insurance Industry Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies127
  • 7D-0.7%
  • 3M9.9%
  • 1Y5.9%
  • YTD6.4%

In the last week, the Insurance industry is flat overall, with Chubb standing out by going down 3.7%. The past year has been better, since the industry has gained 5.9% in that time. As for the next few years, earnings are expected to grow by 2.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Jul 2026US$1.4tUS$958.6bUS$113.9b12.3x12.6x1.5x
Tue, 09 Jun 2026US$1.3tUS$959.6bUS$114.0b10.7x11.5x1.4x
Thu, 07 May 2026US$1.3tUS$957.9bUS$113.7b11.4x11.4x1.4x
Sat, 04 Apr 2026US$1.3tUS$946.4bUS$105.4b11.4x12.3x1.4x
Mon, 02 Mar 2026US$1.4tUS$947.9bUS$105.2b12x12.9x1.4x
Wed, 28 Jan 2026US$1.3tUS$932.4bUS$99.8b12.7x13.5x1.4x
Fri, 26 Dec 2025US$1.4tUS$931.1bUS$99.3b13.4x14.2x1.5x
Sun, 23 Nov 2025US$1.4tUS$931.0bUS$99.2b13.2x13.7x1.5x
Tue, 21 Oct 2025US$1.3tUS$923.0bUS$89.5b13.9x15x1.5x
Thu, 18 Sep 2025US$1.4tUS$919.1bUS$88.7b14.1x15.5x1.5x
Sat, 16 Aug 2025US$1.4tUS$918.4bUS$88.4b14.4x15.9x1.5x
Mon, 14 Jul 2025US$1.4tUS$902.8bUS$82.1b14.3x16.9x1.5x
Wed, 11 Jun 2025US$1.4tUS$902.8bUS$82.3b14.2x17.3x1.6x
Fri, 09 May 2025US$1.4tUS$900.0bUS$84.7b14.6x17.1x1.6x
Sun, 06 Apr 2025US$1.4tUS$897.3bUS$92.9b12.8x14.8x1.5x
Tue, 04 Mar 2025US$1.5tUS$895.9bUS$93.2b13.6x15.8x1.6x
Thu, 30 Jan 2025US$1.4tUS$895.6bUS$89.4b12.7x15.6x1.6x
Sat, 28 Dec 2024US$1.4tUS$893.2bUS$91.1b13x15x1.5x
Mon, 25 Nov 2024US$1.5tUS$893.2bUS$91.0b13.7x16x1.6x
Wed, 23 Oct 2024US$1.4tUS$861.4bUS$89.6b13.8x15.7x1.6x
Fri, 20 Sep 2024US$1.4tUS$855.0bUS$87.4b14.3x16x1.6x
Sun, 18 Aug 2024US$1.3tUS$855.4bUS$87.0b13.6x15.3x1.6x
Tue, 16 Jul 2024US$1.2tUS$820.7bUS$79.0b13.6x15.2x1.5x
Thu, 13 Jun 2024US$1.2tUS$823.4bUS$79.2b12.9x14.8x1.4x
Sat, 11 May 2024US$1.2tUS$821.7bUS$78.7b13.1x15x1.4x
Mon, 08 Apr 2024US$1.2tUS$792.7bUS$66.9b14.6x17.8x1.5x
Wed, 06 Mar 2024US$1.1tUS$792.1bUS$66.6b14.5x17.1x1.4x
Fri, 02 Feb 2024US$1.1tUS$797.6bUS$53.4b13.1x21.4x1.4x
Sun, 31 Dec 2023US$1.1tUS$792.9bUS$47.7b13x23x1.4x
Tue, 28 Nov 2023US$1.1tUS$792.8bUS$47.5b13.2x23.2x1.4x
Thu, 26 Oct 2023US$1.0tUS$805.4bUS$41.0b15x25.4x1.3x
Sat, 23 Sep 2023US$1.1tUS$799.3bUS$38.7b14.8x27.1x1.3x
Mon, 21 Aug 2023US$1.0tUS$799.0bUS$38.6b15.2x26.1x1.3x
Wed, 19 Jul 2023US$992.3bUS$781.6bUS$37.8b15.3x26.2x1.3x
Price to Earnings Ratio

26.2x


Total Market Cap: US$992.3bTotal Earnings: US$37.8bTotal Revenue: US$781.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 16.8x202420252026
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 16.8x.
  • 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 44% per year over the last three years.
  • Revenues for these companies have grown 7.0% 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 Market0.81%
Financials0.048%
Insurance-0.73%
Life and Health Insurance0.87%
Reinsurance0.36%
Insurance Brokers-0.48%
Property and Casualty Insurance-1.42%
General Insurance-2.43%
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 12.8%, 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 9.8x.
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 4.4% 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
MET MetLifeUS$91.651.8%
+US$1.0b		18.0%PE17.2x
PRU Prudential FinancialUS$115.372.1%
+US$840.5m		8.9%PE11.7x
RGA Reinsurance Group of AmericaUS$231.164.6%
+US$665.6m		18.9%PE12.4x
AFL AflacUS$121.910.9%
+US$524.3m		20.0%PE13.4x
LNC Lincoln NationalUS$39.737.4%
+US$522.0m		16.6%PE4.6x

Latest News

ALL
US$251.61
Allstate
7D
0.5%
1Y
30.1%
AFL
US$121.91
Aflac
7D
0.9%
1Y
20.0%
Narrative Update • Jul 11

AFL: Future Returns Will Reflect Carrier Strength And Cybersecurity Risk Balancing

Aflac's analyst fair value estimate has nudged up from $112.43 to $114.86. This reflects a series of higher Street price targets as analysts point to supportive conditions for life insurers, including reduced private credit concerns, steady earnings momentum and a generally favorable backdrop for carriers relative to brokers.
MET
US$91.65
MetLife
7D
1.8%
1Y
18.0%
Narrative Update • Jul 11

MET: Capital Returns And Flexible Settlement Solutions Will Shape Future Risk Reward Balance

MetLife's analyst price target has been revised from $92.80 to $95.31. Analysts attribute this change to updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E.
UNM
US$87.50
Unum Group
7D
-5.2%
1Y
9.3%
Narrative Update • Jul 10

UNM: Long-Term Care Reinsurance Actions Will Support Future Capital Return Potential

Analysts have lifted their blended price target for Unum Group to about $100 from roughly $98, reflecting updated views on fair value, slight adjustments to growth and profitability assumptions, and recent Street research citing a supportive backdrop for U.S. life insurers and the company’s long term care risk transfer actions. Analyst Commentary Recent Street research on Unum Group clusters around the company’s long term care reinsurance activity and its position within the broader U.S. life insurance sector, with several firms revisiting their valuation work and price targets in light of these developments.
OSCR
US$30.54
Oscar Health
7D
-5.1%
1Y
112.4%
Narrative Update • Jul 10

OSCR: ACA Risk Adjustment Tailwinds Will Confront Ongoing Margin Execution Concerns

Analysts have lifted their fair value estimate for Oscar Health from $11.00 to $13.00 per share, citing more favorable healthcare exchange risk adjustment dynamics, expectations for margin recovery as repricing actions flow through, and increased comfort with the individual ACA market exposure, as reflected in higher Street price targets from firms such as Barclays and Wells Fargo. Analyst Commentary on Oscar Health Recent Street commentary on Oscar Health has centered on how the company is positioned within the individual Affordable Care Act market and how current healthcare exchange risk adjustment mechanics could influence results.
CB
US$347.83
Chubb
7D
-3.7%
1Y
25.1%
Narrative Update • Jul 10

CB: Dividend Growth And Buybacks Will Support War Risk Expansion And Stable Outlook

Analysts have nudged their price target on Chubb higher, with fair value moving from about $345.04 to $355.83, citing updated assumptions around revenue trends, profit margins, the discount rate and future P/E expectations. What’s in the News for Chubb Chubb, working with Lloyd's of London, launched a US$400m marine war risk insurance facility for vessels using the Strait of Hormuz.
RGA
US$231.16
Reinsurance Group of America
7D
4.6%
1Y
18.9%
PRU
US$115.37
Prudential Financial
7D
2.1%
1Y
8.9%
BRO
US$67.66
Brown & Brown
7D
-3.3%
1Y
-36.6%
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.
TRV
US$338.92
Travelers Companies
7D
-1.0%
1Y
33.2%
Narrative Update • Jul 09

TRV: AI Deployment And Mixed Underwriting Trends Will Shape Future Earnings Profile

The analyst price target for Travelers Companies has increased to $320.74 from $312.91 as analysts factor in slightly stronger profit margins, a modestly higher future P/E of 13.02, and recent research highlighting more stable auto insurance trends and underwriting results. Analyst Commentary Recent research on Travelers Companies shows a wide range of views on where the stock should trade, with price targets spanning from below US$300 to US$400 and ratings running from Underweight to Strong Buy.
CINF
US$179.28
Cincinnati Financial
7D
-6.6%
1Y
21.6%
PFG
US$112.23
Principal Financial Group
7D
1.2%
1Y
39.6%
LNC
US$39.73
Lincoln National
7D
7.4%
1Y
16.6%
Narrative Update • Jul 08

LNC: Capital Building Completion And Earnings Quality Will Shape Future Buybacks

Analysts have revised the Lincoln National fair value estimate from about $45.46 to $42.83, reflecting a combination of higher Street price targets in the low to mid $40s and updated assumptions around growth, profitability and future P/E. Analyst Commentary Recent Street research on Lincoln National points to a mixed but generally constructive tone, with several price target updates clustering in the low to mid US$40s and a few firms trimming targets.
RNR
US$314.99
RenaissanceRe Holdings
7D
-3.5%
1Y
32.6%
Narrative Update • Jul 07

RNR: Fair Outlook Will Balance Softer Reinsurance Pricing And Leadership Transitions

RenaissanceRe Holdings' fair value estimate has been revised upward by $18 to $300, as analysts incorporate a higher blended set of price targets that reflect steady reinsurance pricing trends, healthy underwriting conditions and an improved profit margin outlook, partially offset by a slightly higher discount rate and softer long term P/E assumptions. Analyst Commentary Recent Street research on RenaissanceRe Holdings presents a mixed picture, with some firms lifting price targets while others trim expectations and highlight emerging risks.
WTW
US$289.65
Willis Towers Watson
7D
1.2%
1Y
-5.7%
PGR
US$230.72
Progressive
7D
-0.6%
1Y
-5.8%