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U.S. Insurance Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies127
  • 7D-0.4%
  • 3M1.8%
  • 1Y-4.7%
  • YTD-3.2%

The Insurance is pretty flat in the last 7 days, but Progressive has stood out, gaining 4.8%. As for the longer term, the industry has declined 4.7% in the last year. As for the next few years, earnings are expected to grow by 6.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026US$1.3tUS$932.8bUS$99.8b12.8x13.3x1.4x
Sat, 27 Dec 2025US$1.4tUS$931.1bUS$99.3b13.3x14.2x1.5x
Mon, 24 Nov 2025US$1.4tUS$931.0bUS$99.2b13.2x13.8x1.5x
Wed, 22 Oct 2025US$1.3tUS$923.4bUS$89.7b14x15x1.5x
Fri, 19 Sep 2025US$1.4tUS$919.1bUS$88.7b14x15.6x1.5x
Sun, 17 Aug 2025US$1.4tUS$918.4bUS$88.4b14.4x15.8x1.5x
Tue, 15 Jul 2025US$1.4tUS$902.8bUS$82.1b14.5x16.9x1.5x
Thu, 12 Jun 2025US$1.4tUS$903.1bUS$82.3b14.2x17.2x1.6x
Sat, 10 May 2025US$1.4tUS$902.5bUS$82.3b14.8x17.6x1.6x
Mon, 07 Apr 2025US$1.4tUS$897.3bUS$92.9b12.8x14.8x1.5x
Wed, 05 Mar 2025US$1.5tUS$897.5bUS$93.1b13x15.9x1.6x
Fri, 31 Jan 2025US$1.4tUS$899.6bUS$90.2b12.8x15.5x1.6x
Sun, 29 Dec 2024US$1.4tUS$893.2bUS$91.1b13x14.9x1.5x
Tue, 26 Nov 2024US$1.4tUS$893.2bUS$91.0b14x15.8x1.6x
Thu, 24 Oct 2024US$1.4tUS$861.4bUS$89.6b13.8x15.6x1.6x
Sat, 21 Sep 2024US$1.4tUS$855.1bUS$87.4b14.2x15.9x1.6x
Mon, 19 Aug 2024US$1.3tUS$855.4bUS$87.0b13.6x15.3x1.6x
Wed, 17 Jul 2024US$1.2tUS$820.7bUS$79.0b13.7x15.4x1.5x
Fri, 14 Jun 2024US$1.2tUS$823.4bUS$79.2b12.9x14.7x1.4x
Sun, 12 May 2024US$1.2tUS$821.7bUS$78.7b13.1x15.1x1.4x
Tue, 09 Apr 2024US$1.2tUS$792.7bUS$66.9b14.7x17.8x1.5x
Thu, 07 Mar 2024US$1.1tUS$792.1bUS$66.6b14.5x17.2x1.4x
Sat, 03 Feb 2024US$1.2tUS$800.6bUS$55.3b13.6x20.8x1.4x
Mon, 01 Jan 2024US$1.1tUS$792.9bUS$47.7b13x23x1.4x
Wed, 29 Nov 2023US$1.1tUS$792.8bUS$47.5b13x23.3x1.4x
Fri, 27 Oct 2023US$1.0tUS$806.6bUS$42.0b14.1x24.7x1.3x
Sun, 24 Sep 2023US$1.1tUS$799.3bUS$38.7b14.8x27.1x1.3x
Tue, 22 Aug 2023US$1.0tUS$799.0bUS$38.6b15.1x26.1x1.3x
Thu, 20 Jul 2023US$992.9bUS$781.6bUS$37.8b15.4x26.2x1.3x
Sat, 17 Jun 2023US$975.5bUS$774.5bUS$35.1b16.4x27.8x1.3x
Mon, 15 May 2023US$969.5bUS$774.0bUS$35.7b15.5x27.1x1.3x
Wed, 12 Apr 2023US$974.5bUS$759.1bUS$44.1b15.4x22.1x1.3x
Fri, 10 Mar 2023US$974.6bUS$759.8bUS$44.1b15.5x22.1x1.3x
Sun, 05 Feb 2023US$1.0tUS$778.5bUS$50.7b15.2x20.3x1.3x
Price to Earnings Ratio

20.3x


Total Market Cap: US$1.0tTotal Earnings: US$50.7bTotal Revenue: US$778.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 18.6x202420252026
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 13.5x which is lower than its 3-year average PE of 18.6x.
  • 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 25% per year over the last three years.
  • Revenues for these companies have grown 6.2% 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 Market2.04%
Financials-0.23%
Insurance-0.35%
Reinsurance0.98%
General Insurance0.69%
Life and Health Insurance0.64%
Property and Casualty Insurance0.58%
Insurance Brokers-3.30%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 37.1x.
    • Analysts are expecting annual earnings growth of 15.1%, which is higher than its past year's earnings growth of 11.6% per year.
  • Investors are most pessimistic about the General Insurance industry, which is trading below its 3-year average of 12.3x.
Forecasted Growth
  • Analysts are most optimistic on the Reinsurance industry, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings decline of 34% 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$212.744.8%
+US$5.7b		-13.7%PE11.6x
TRV Travelers CompaniesUS$282.043.4%
+US$2.0b		13.0%PE9.8x
CB ChubbUS$303.651.2%
+US$1.4b		10.1%PE12.4x
ALL AllstateUS$197.331.9%
+US$960.4m		3.4%PE6.3x
PFG Principal Financial GroupUS$92.234.2%
+US$810.7m		11.3%PE12.9x

Latest News

PGR
US$212.74
Progressive
7D
4.8%
1Y
-13.7%
BRO
US$74.12
Brown & Brown
7D
-6.3%
1Y
-29.4%
MET
US$76.69
MetLife
7D
1.5%
1Y
-10.5%
MRSH
US$178.18
Marsh & McLennan Companies
7D
-0.8%
1Y
-18.8%
CB
US$303.65
Chubb
7D
1.2%
1Y
10.1%

CB: AI Optimization And Stable Fundamentals Will Support A Steady Outlook

Analysts nudged their fair value estimate for Chubb higher from US$317.17 to US$320.96. They cited only modest tweaks to projected revenue trends, margins and forward P/E assumptions to reflect their latest views.
MKL
US$2,010.58
Markel Group
7D
-2.4%
1Y
11.5%

MKL: Future Outlook Will Reflect Completed Buybacks And Stable Earnings Assumptions

Analysts now see fair value for Markel Group at about $2,041 per share, roughly $10 lower than before. This reflects slightly different views on revenue growth, profit margins and the forward P/E that feed into their updated price target work.
ORI
US$39.05
Old Republic International
7D
-9.4%
1Y
6.2%

ORI: Capital Returns And Reset Expectations Will Support Future Upside

Analysts have reduced their price target on Old Republic International to US$42.50 from US$49.00, attributing the change to more cautious assumptions on revenue growth, profit margins, and future P/E after recent research downgrades following Q4 earnings. Analyst Commentary Bullish Takeaways Bullish analysts see the revised US$42.50 target as reflecting more measured assumptions on growth and margins, which they view as a cleaner entry point for investors who want less aggressive expectations baked into the price.
CINF
US$158.40
Cincinnati Financial
7D
-2.1%
1Y
14.6%

CINF: Q3 Execution And Buybacks Will Counter Sector Pricing Pressures In 2025

Narrative update The analyst price target for Cincinnati Financial has been adjusted slightly lower to align with a fair value estimate of about $173.67, as analysts weigh mixed recent Street targets and modest tweaks to assumptions around revenue growth, profit margins, and the future P/E multiple. Analyst Commentary Recent Street research around Cincinnati Financial reflects a mix of optimism on earnings power and valuation, alongside caution around sector level pricing and loss cost trends in property and casualty insurance.
TRV
US$282.04
Travelers Companies
7D
3.4%
1Y
13.0%
PFG
US$92.23
Principal Financial Group
7D
4.2%
1Y
11.3%

PFG: Capital Strength And Cash Returns Will Support Steady Future Performance

Analysts have nudged their price targets on Principal Financial higher, with recent moves such as US$74 to US$85, US$88 to US$92, and US$83 to US$87, reflecting updated views on capital strength, earnings quality, and sector wide pricing and margin trends. Analyst Commentary Recent research updates on Principal Financial Group show a mix of cautious and constructive views, with several firms adjusting price targets while keeping a close eye on sector specific trends in life and property and casualty insurance.
ACGL
US$94.17
Arch Capital Group
7D
2.0%
1Y
0.4%
ALL
US$197.33
Allstate
7D
1.9%
1Y
3.4%

ALL: Higher Margins And Buybacks Will Support Stronger Long-Term Upside

Analysts have lifted their price target on Allstate from US$275 to about US$290, citing updated assumptions that include adjusted revenue growth expectations, a different discount rate, a revised profit margin outlook, and a slightly lower future P/E multiple. What's in the News Allstate estimated catastrophe losses of US$83 million, or US$65 million after tax, for October 2025 from five wind and hail events, highlighting recent weather related impacts on results (Corporate Guidance: Unusual Events).
AJG
US$242.37
Arthur J. Gallagher
7D
-3.1%
1Y
-17.6%

AJG: Life Deals And Contingents Will Drive Recovery Through 2026

Analysts have trimmed their blended price target for Arthur J. Gallagher by about US$8 to reflect lower assumed fair value and P/E multiples, while incorporating recent research that highlights softer P&C pricing, near term organic growth and margin headwinds, and timing issues around AssuredPartners and large life deals.
PRU
US$107.69
Prudential Financial
7D
-1.6%
1Y
-12.0%

PRU: Capital Strength And Life Margins Will Support Balanced Outlook

Analysts have nudged their blended price targets on Prudential Financial slightly higher, with our fair value estimate moving by about US$1 to US$119.36 as they factor in updated views on profit margins, modestly lower revenue growth assumptions, and a slightly higher future P/E multiple following recent target increases from several firms. Analyst Commentary Recent research on Prudential Financial has centered on modestly higher price targets and how the company might balance growth, margins, and capital over the next few years.
AIG
US$73.39
American International Group
7D
2.1%
1Y
-2.7%

AIG: Future Profitability And Capital Discipline Will Drive Re Rating

Narrative Update Analysts have trimmed their consolidated price target for American International Group to about $86.95 from $88.28, reflecting mixed revisions across firms as they weigh softer property and casualty pricing trends against expectations for steadier margins and a lower future P/E multiple. Analyst Commentary Recent research on American International Group highlights a mix of optimism and caution, with price targets spread across the low to mid US$80s and up toward the mid US$90s, and ratings clustered around Neutral or equivalent with a few more constructive views.
ERIE
US$272.50
Erie Indemnity
7D
-5.0%
1Y
-33.0%