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U.S. Insurance Industry Analysis

UpdatedMar 30, 2026
DataAggregated Company Financials
Companies129
  • 7D-1.7%
  • 3M-10.1%
  • 1Y-14.1%
  • YTD-7.7%

Over the last 7 days, the Insurance industry has dropped 1.7%, driven by a pullback from Progressive of 3.1%. The industry has fallen 14% in the last year. Earnings are forecast to grow by 3.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 30 Mar 2026US$1.3tUS$946.4bUS$105.4b10.9x11.9x1.3x
Wed, 25 Feb 2026US$1.3tUS$950.6bUS$105.1b12.1x12.7x1.4x
Fri, 23 Jan 2026US$1.3tUS$931.9bUS$99.8b12.9x13.3x1.4x
Sun, 21 Dec 2025US$1.4tUS$931.1bUS$99.3b13.4x14.1x1.5x
Tue, 18 Nov 2025US$1.4tUS$931.0bUS$99.2b12.9x13.9x1.5x
Thu, 16 Oct 2025US$1.4tUS$921.8bUS$88.9b14.2x16x1.5x
Sat, 13 Sep 2025US$1.4tUS$919.1bUS$88.6b14.4x16x1.5x
Mon, 11 Aug 2025US$1.4tUS$918.1bUS$88.4b14x15.6x1.5x
Wed, 09 Jul 2025US$1.4tUS$903.0bUS$82.1b14.4x17.1x1.6x
Fri, 06 Jun 2025US$1.5tUS$902.8bUS$82.3b14.8x17.7x1.6x
Sun, 04 May 2025US$1.4tUS$894.8bUS$85.1b14.2x16.9x1.6x
Tue, 01 Apr 2025US$1.5tUS$897.3bUS$93.0b14.2x16x1.7x
Thu, 27 Feb 2025US$1.4tUS$896.1bUS$94.1b12.7x15.2x1.6x
Sat, 25 Jan 2025US$1.4tUS$894.1bUS$91.8b12.7x14.9x1.5x
Mon, 23 Dec 2024US$1.4tUS$893.2bUS$91.1b13.1x14.8x1.5x
Wed, 20 Nov 2024US$1.4tUS$893.3bUS$91.0b13.5x15.7x1.6x
Fri, 18 Oct 2024US$1.4tUS$860.8bUS$89.5b14.3x15.8x1.6x
Sun, 15 Sep 2024US$1.4tUS$855.5bUS$87.0b14.2x15.9x1.6x
Tue, 13 Aug 2024US$1.3tUS$855.4bUS$87.0b13.4x14.8x1.5x
Thu, 11 Jul 2024US$1.2tUS$820.7bUS$79.0b13.5x14.8x1.4x
Sat, 08 Jun 2024US$1.2tUS$823.4bUS$79.2b12.7x14.8x1.4x
Mon, 06 May 2024US$1.1tUS$818.7bUS$78.8b14.1x14.6x1.4x
Wed, 03 Apr 2024US$1.2tUS$792.6bUS$66.9b15.1x17.9x1.5x
Fri, 01 Mar 2024US$1.2tUS$791.6bUS$66.2b14.9x17.4x1.5x
Sun, 28 Jan 2024US$1.2tUS$794.3bUS$49.9b13.2x23.3x1.5x
Tue, 26 Dec 2023US$1.1tUS$792.9bUS$47.7b12.7x22.8x1.4x
Thu, 23 Nov 2023US$1.1tUS$792.6bUS$47.3b13.2x22.9x1.4x
Sat, 21 Oct 2023US$1.0tUS$804.2bUS$40.0b14.6x25.8x1.3x
Mon, 18 Sep 2023US$1.0tUS$799.3bUS$38.7b14.9x26.9x1.3x
Wed, 16 Aug 2023US$1.0tUS$799.0bUS$38.6b14.9x26.2x1.3x
Fri, 14 Jul 2023US$980.5bUS$781.6bUS$37.8b15.5x25.9x1.3x
Sun, 11 Jun 2023US$966.2bUS$774.5bUS$35.1b15.3x27.5x1.2x
Tue, 09 May 2023US$977.3bUS$772.5bUS$41.0b15.2x23.8x1.3x
Thu, 06 Apr 2023US$961.5bUS$759.1bUS$44.1b14.9x21.8x1.3x
Price to Earnings Ratio

21.8x


Total Market Cap: US$961.5bTotal Earnings: US$44.1bTotal Revenue: US$759.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 18.1x202420252026
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 11.9x which is lower than its 3-year average PE of 18.1x.
  • 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 34% 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-1.89%
Financials-1.78%
Insurance-1.66%
General Insurance1.73%
Reinsurance0.67%
Life and Health Insurance-0.13%
Property and Casualty Insurance-1.37%
Insurance Brokers-3.93%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 36.6x.
    • Analysts are expecting annual earnings growth of 13.4%, which is lower than the prior year's growth of 45.7% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 13.2x.
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 46% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 2.0% 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
FNF Fidelity National FinancialUS$45.682.7%
+US$328.1m		-29.8%PE20.6x
ORI Old Republic InternationalUS$39.423.0%
+US$281.9m		0.5%PE10.2x
NP Neptune Insurance HoldingsUS$23.034.9%
+US$149.2m		n/aPS19.9x
PFG Principal Financial GroupUS$87.010.5%
+US$99.7m		3.1%PE15.9x
SLDE Slide Insurance HoldingsUS$17.563.4%
+US$72.1m		n/aPE4.9x

Latest News

TRV
US$285.27
Travelers Companies
7D
-3.5%
1Y
7.9%

TRV: Underwriting And AI Adoption Will Support Margins As Market Softens

Narrative Update on Travelers Companies Analysts have modestly raised their average price targets on Travelers, with moves such as Morgan Stanley lifting its view to $310 from $295 and Keefe Bruyette moving to $340 from $320. They generally point to differentiated underwriting, perceived margin durability, and views on reserve strength as key drivers behind the updated expectations.
FAF
US$58.47
First American Financial
7D
0.7%
1Y
-10.9%

FAF: Stable Fundamentals And Steady P E Will Support Future Upside

Analysts kept their $81.60 price target for First American Financial unchanged, reflecting stable assumptions on the discount rate, revenue growth, profit margin, and future P/E in the latest update. What's in the News Reported an update on its share repurchase activity for the period from October 1, 2025 to December 31, 2025, with no shares repurchased and no cash deployed under the existing buyback authorization (Key Developments).
CB
US$319.09
Chubb
7D
-2.2%
1Y
5.7%
FG
US$24.20
F&G Annuities & Life
7D
1.3%
1Y
-32.9%
PGR
US$198.84
Progressive
7D
-3.1%
1Y
-29.7%
FNF
US$45.68
Fidelity National Financial
7D
2.7%
1Y
-29.8%
BRO
US$63.43
Brown & Brown
7D
-4.9%
1Y
-49.0%
MRSH
US$169.17
Marsh & McLennan Companies
7D
-2.7%
1Y
-30.7%
AJG
US$207.10
Arthur J. Gallagher
7D
-4.4%
1Y
-40.0%
SLDE
US$17.56
Slide Insurance Holdings
7D
3.4%
1Y
n/a
ORI
US$39.42
Old Republic International
7D
3.0%
1Y
0.5%

ORI: Neutral Stance Where Dividend And Buybacks Will Shape Future Returns

Analysts have reiterated their price target on Old Republic International at $42.50, citing a more cautious stance following a downgrade to Neutral after recent Q4 earnings commentary. Analyst Commentary Bullish Takeaways Bullish analysts see the reiterated US$42.50 price target as consistent with a view that the shares already reflect recent Q4 commentary, which they believe limits downside if execution stays on track.
AON
US$313.66
Aon
7D
-3.8%
1Y
-21.4%

AON: Margin Durability And Health Insights Will Support Future Upside

Analysts have recently adjusted their Aon price targets in a tight range, with moves such as Morgan Stanley trimming its target to $390, others lifting targets by $5 to $19, and some firms cutting by up to $57. These changes reflect mixed views around softening P&C pricing, AI related cost headwinds, and the importance of differentiated underwriting and margin durability.
PFG
US$87.01
Principal Financial Group
7D
0.5%
1Y
3.1%

PFG: Capital Strength And Cash Returns Will Support Future Margin Resilience

Analysts have inched their fair value estimate for Principal Financial Group higher, with the price target moving by about $1 to $95 as they factor in modestly lower assumed revenue growth, improved profit margin expectations, and a slightly lower future P/E multiple across recent research updates. Analyst Commentary Recent research activity around Principal Financial Group has centered on a cluster of price target updates and rating changes, giving you a clearer sense of how the Street is thinking about valuation, execution, and growth risk.
ARX
US$13.01
Accelerant Holdings
7D
1.6%
1Y
n/a
ALL
US$202.71
Allstate
7D
-2.4%
1Y
-2.1%

ALL: Higher Margins And Buybacks Will Support Measured Upside Potential

The updated analyst price target for Allstate now stands at $192.43, compared with the prior $189.05. Analysts cite adjusted expectations for profit margin, revenue growth and future P/E assumptions as the key drivers behind the change.
NP
US$23.03
Neptune Insurance Holdings
7D
4.9%
1Y
n/a