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U.S. Insurance Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies130
  • 7D-0.9%
  • 3M-7.8%
  • 1Y-10.9%
  • YTD-6.1%

Over the last 7 days, the Insurance industry has dropped 1.2%, driven by Chubb declining 1.8%. However, the industry is down 12% over the past year. Looking forward, 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
Sat, 21 Mar 2026US$1.3tUS$946.4bUS$105.4b10.8x12.1x1.3x
Mon, 16 Feb 2026US$1.3tUS$950.2bUS$106.1b12.2x12.5x1.4x
Wed, 14 Jan 2026US$1.4tUS$931.1bUS$99.3b12.6x13.8x1.5x
Fri, 12 Dec 2025US$1.4tUS$931.1bUS$99.3b13.4x13.7x1.5x
Sun, 09 Nov 2025US$1.4tUS$931.8bUS$100.0b13.2x13.5x1.5x
Tue, 07 Oct 2025US$1.4tUS$919.0bUS$88.6b14.2x16.2x1.6x
Thu, 04 Sep 2025US$1.4tUS$919.1bUS$88.6b14.6x15.9x1.5x
Sat, 02 Aug 2025US$1.4tUS$917.2bUS$88.8b13.9x15.4x1.5x
Mon, 30 Jun 2025US$1.4tUS$904.1bUS$82.6b14.3x17.1x1.6x
Wed, 28 May 2025US$1.4tUS$902.8bUS$82.1b15.2x17.5x1.6x
Fri, 25 Apr 2025US$1.4tUS$903.1bUS$91.4b13.7x15.5x1.6x
Sun, 23 Mar 2025US$1.5tUS$897.3bUS$93.0b13.8x15.7x1.6x
Tue, 18 Feb 2025US$1.4tUS$895.6bUS$93.1b12.7x15x1.6x
Thu, 16 Jan 2025US$1.4tUS$892.9bUS$91.5b12.4x14.8x1.5x
Sat, 14 Dec 2024US$1.4tUS$893.2bUS$91.1b13.1x15.1x1.5x
Mon, 11 Nov 2024US$1.4tUS$891.6bUS$91.1b12.8x15.5x1.6x
Wed, 09 Oct 2024US$1.4tUS$855.0bUS$87.4b13.8x15.5x1.6x
Fri, 06 Sep 2024US$1.4tUS$855.4bUS$87.0b14x16.1x1.6x
Sun, 04 Aug 2024US$1.3tUS$851.7bUS$86.4b13.7x15x1.5x
Tue, 02 Jul 2024US$1.2tUS$823.4bUS$79.2b13.2x14.8x1.4x
Thu, 30 May 2024US$1.2tUS$823.4bUS$79.2b12.5x14.8x1.4x
Sat, 27 Apr 2024US$1.1tUS$803.7bUS$71.4b14.1x16x1.4x
Mon, 25 Mar 2024US$1.2tUS$792.6bUS$67.0b14.5x17.6x1.5x
Wed, 21 Feb 2024US$1.1tUS$783.9bUS$65.9b13.1x17.1x1.4x
Fri, 19 Jan 2024US$1.1tUS$790.2bUS$48.8b12.3x23.2x1.4x
Sun, 17 Dec 2023US$1.1tUS$792.9bUS$47.7b13.3x22.7x1.4x
Tue, 14 Nov 2023US$1.1tUS$792.8bUS$47.1b12.1x22.7x1.4x
Thu, 12 Oct 2023US$1.0tUS$799.5bUS$38.9b15x26.8x1.3x
Sat, 09 Sep 2023US$1.0tUS$799.3bUS$38.7b14.4x26.4x1.3x
Mon, 07 Aug 2023US$1.0tUS$798.1bUS$40.5b15.9x25.2x1.3x
Wed, 05 Jul 2023US$986.3bUS$777.7bUS$36.9b15.9x26.7x1.3x
Fri, 02 Jun 2023US$934.5bUS$774.5bUS$35.2b15.1x26.6x1.2x
Sun, 30 Apr 2023US$986.5bUS$764.5bUS$45.3b15.2x21.8x1.3x
Tue, 28 Mar 2023US$927.6bUS$759.4bUS$44.2b14.7x21x1.2x
Price to Earnings Ratio

21x


Total Market Cap: US$927.6bTotal Earnings: US$44.2bTotal Revenue: US$759.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 18.2x202420252026
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 12.2x which is lower than its 3-year average PE of 18.2x.
  • 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-1.86%
Financials0.091%
Insurance-0.91%
Insurance Brokers1.59%
Life and Health Insurance-0.24%
Reinsurance-1.26%
Property and Casualty Insurance-2.03%
General Insurance-2.34%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 36.6x.
    • Analysts are expecting annual earnings growth of 12.6%, which is lower than the prior year's growth of 39.2% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 13.7x.
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 39% 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
MRSH Marsh & McLennan CompaniesUS$176.482.5%
+US$2.1b		-24.0%PE20.5x
AJG Arthur J. GallagherUS$214.823.3%
+US$1.8b		-35.3%PE37x
AON AonUS$325.631.3%
+US$904.2m		-16.6%PE18.9x
LMND LemonadeUS$64.1816.4%
+US$689.7m		85.6%PS6.6x
ARX Accelerant HoldingsUS$12.9520.9%
+US$496.9m		n/aPS3.4x

Latest News

AFL
US$106.22
Aflac
7D
-2.3%
1Y
-1.9%

AFL: Future Returns Will Balance Cybersecurity Fallout And Capital Strength

Narrative update on Aflac The analyst price target framework for Aflac shifts modestly higher toward the recent Street range, reflecting updated EPS roll forward work, a slightly adjusted future P/E assumption to 16.36x, and analysts' mixed but constructive views that blend a higher $118 target with several reductions closer to $101 to $120. Analyst Commentary Recent research on Aflac is mixed, with some bullish analysts nudging targets higher while more cautious voices trim expectations.
ARX
US$12.95
Accelerant Holdings
7D
20.9%
1Y
n/a
FNF
US$43.26
Fidelity National Financial
7D
-9.1%
1Y
-31.9%
WRB
US$65.74
W. R. Berkley
7D
-4.4%
1Y
4.0%

WRB: Future Returns Will Reflect Softening Pricing And Resilient Earnings Profile

Analysts have trimmed their average price targets on W. R.
MRSH
US$176.48
Marsh & McLennan Companies
7D
2.5%
1Y
-24.0%

MRSH: Earnings Should Stay Resilient As AI Supports Margins And Productivity

Analyst Price Target Narrative Update The analyst price target for Marsh & McLennan Companies has been adjusted slightly lower, with the updated fair value moving from $207.25 to $207.20 as analysts weigh a mix of reduced targets tied to concerns about AI disruption and softer P&C pricing, against views that the recent selloff may overstate these risks and that AI could support productivity and margins for brokers. Analyst Commentary Recent research shows a divided backdrop for Marsh & McLennan Companies, with price targets clustering in a relatively tight range but ratings spanning Strong Buy through Underperform.
MET
US$68.56
MetLife
7D
0.9%
1Y
-16.8%

MET: Share Repurchases Will Support Future Upside Potential

Analysts have slightly adjusted their price target for MetLife to $90.73 from $90.93, reflecting updated views on discount rates, revenue growth, profit margins, and future price-to-earnings (P/E) assumptions. What's in the News MetLife reported that from October 1, 2025 to January 31, 2026 it repurchased 7,608,263 shares, representing 1.15% of shares, for a total of US$600 million under its current buyback program (Key Developments).
AIG
US$74.39
American International Group
7D
-3.1%
1Y
-10.6%
FAF
US$56.85
First American Financial
7D
-13.4%
1Y
-12.3%

FAF: Steady Fundamentals And Higher Future P E Will Support Upside Potential

Analysts have raised their price target on First American Financial from $79.40 to $81.60. This change reflects updated assumptions regarding fair value, discount rate, revenue growth, profit margin and future P/E, which modestly adjust their long-term outlook on the stock.
TRV
US$296.60
Travelers Companies
7D
-1.9%
1Y
15.5%

TRV: Underwriting Strength And AI Execution Will Support Margins In Softer P And C

Analysts have inched up their fair value estimate for Travelers Companies by about $1 to $303, citing stronger margin assumptions and a slightly lower expected future P/E multiple, as reflected in a series of recent price target revisions across the Street. Analyst Commentary Recent research updates paint a mixed picture for Travelers, with several firms lifting price targets while others trim expectations or downgrade ratings.
PGR
US$206.00
Progressive
7D
0.4%
1Y
-24.5%
CB
US$322.58
Chubb
7D
-1.9%
1Y
10.7%

CB: Dividends And Buybacks Will Support A Stable Fairly Valued Outlook

Analysts have nudged their price target on Chubb slightly higher to about $338 from roughly $336, attributing the change to small adjustments in expected revenue trends, profit margins, and future P/E assumptions. What's in the News Chubb's Board of Directors plans to recommend at the 2026 Annual General Meeting an annual dividend of $4.08 per share, payable in four quarterly payments of $1.02 per share, compared with the current quarterly dividend of $0.97 per share.
MKL
US$1,875.35
Markel Group
7D
-3.5%
1Y
2.1%

MKL: Future Outlook Will Reflect Buybacks And Stable Earnings Assumptions

Analysts have increased their price target on Markel Group by $100, citing updated assumptions around revenue growth, profit margins, and future P/E, which they say support a fair value estimate of $2,071.75. Analyst Commentary Analysts updating their models around Markel Group are framing the new $2,071.75 fair value estimate in terms of how realistic the revised revenue, margin, and P/E assumptions look over time.
PRU
US$93.03
Prudential Financial
7D
1.1%
1Y
-15.6%
AON
US$325.63
Aon
7D
1.3%
1Y
-16.6%
LMND
US$64.18
Lemonade
7D
16.4%
1Y
85.6%
AJG
US$214.82
Arthur J. Gallagher
7D
3.3%
1Y
-35.3%

AJG: Margin Durability And Softer Cycle Are Expected To Support 2026 Upside

Narrative Update: Arthur J. Gallagher (AJG) The analyst price target for Arthur J.