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U.S. Insurance Industry Analysis

UpdatedJan 20, 2026
DataAggregated Company Financials
Companies127
  • 7D-2.6%
  • 3M-0.3%
  • 1Y-2.9%
  • YTD-2.5%

Over the last 7 days, the Insurance industry has dropped 2.6%, and Prudential Financial contributed the most with a 4.2% decline. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 6.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 20 Jan 2026US$1.3tUS$931.1bUS$99.3b12.6x13.5x1.4x
Thu, 18 Dec 2025US$1.4tUS$931.1bUS$99.3b13.4x14.1x1.5x
Sat, 15 Nov 2025US$1.4tUS$931.1bUS$98.7b13.4x14x1.5x
Mon, 13 Oct 2025US$1.4tUS$919.0bUS$88.6b13.8x15.8x1.5x
Wed, 10 Sep 2025US$1.4tUS$919.1bUS$88.6b14.3x15.8x1.5x
Fri, 08 Aug 2025US$1.4tUS$933.4bUS$88.5b14x15.7x1.5x
Sun, 06 Jul 2025US$1.4tUS$903.0bUS$82.1b14.6x17.3x1.6x
Tue, 03 Jun 2025US$1.5tUS$902.7bUS$82.3b15.1x17.8x1.6x
Thu, 01 May 2025US$1.4tUS$904.7bUS$89.1b13.7x15.9x1.6x
Sat, 29 Mar 2025US$1.5tUS$897.3bUS$93.0b14.1x16.1x1.7x
Mon, 24 Feb 2025US$1.4tUS$895.9bUS$94.5b12.3x14.7x1.6x
Wed, 22 Jan 2025US$1.4tUS$892.9bUS$91.5b13x15.1x1.5x
Fri, 20 Dec 2024US$1.3tUS$893.2bUS$91.1b12.8x14.6x1.5x
Sun, 17 Nov 2024US$1.4tUS$893.3bUS$91.0b13.1x15.6x1.6x
Tue, 15 Oct 2024US$1.4tUS$855.0bUS$87.4b13.9x16x1.6x
Thu, 12 Sep 2024US$1.4tUS$855.4bUS$87.0b13.6x15.7x1.6x
Sat, 10 Aug 2024US$1.3tUS$855.4bUS$87.0b13.6x14.8x1.5x
Mon, 08 Jul 2024US$1.2tUS$823.2bUS$79.2b13.3x14.7x1.4x
Wed, 05 Jun 2024US$1.2tUS$823.4bUS$79.2b12.7x15x1.4x
Fri, 03 May 2024US$1.2tUS$819.0bUS$79.3b14x14.6x1.4x
Sun, 31 Mar 2024US$1.2tUS$792.6bUS$66.9b15.2x18x1.5x
Tue, 27 Feb 2024US$1.1tUS$791.4bUS$65.9b14.7x17.3x1.4x
Thu, 25 Jan 2024US$1.2tUS$793.8bUS$50.0b13.4x23x1.5x
Sat, 23 Dec 2023US$1.1tUS$792.9bUS$47.7b12.7x22.8x1.4x
Mon, 20 Nov 2023US$1.1tUS$792.6bUS$47.3b13x22.8x1.4x
Wed, 18 Oct 2023US$1.1tUS$802.3bUS$39.9b15.3x26.8x1.3x
Fri, 15 Sep 2023US$1.0tUS$799.3bUS$38.7b14.8x26.7x1.3x
Sun, 13 Aug 2023US$1.0tUS$799.0bUS$38.5b14.6x26.5x1.3x
Tue, 11 Jul 2023US$982.2bUS$777.8bUS$36.9b16.2x26.6x1.3x
Thu, 08 Jun 2023US$959.3bUS$774.5bUS$35.1b15.3x27.3x1.2x
Sat, 06 May 2023US$971.7bUS$772.6bUS$41.0b15.2x23.7x1.3x
Mon, 03 Apr 2023US$956.7bUS$759.1bUS$44.1b14.7x21.7x1.3x
Wed, 01 Mar 2023US$1.0tUS$763.3bUS$42.8b16.1x23.9x1.3x
Fri, 27 Jan 2023US$1.0tUS$779.8bUS$53.5b16.1x19.6x1.3x
Price to Earnings Ratio

19.6x


Total Market Cap: US$1.0tTotal Earnings: US$53.5bTotal Revenue: US$779.8bTotal 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 23% per year over the last three years.
  • Revenues for these companies have grown 6.1% 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-0.55%
Financials-1.02%
Insurance-2.59%
Insurance Brokers-1.44%
Life and Health Insurance-2.13%
Reinsurance-2.70%
Property and Casualty Insurance-3.23%
General Insurance-4.56%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 37.2x.
    • Analysts are expecting annual earnings growth of 15.3%, 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
AFL AflacUS$109.511.4%
+US$812.4m		2.9%PE13.8x
FNF Fidelity National FinancialUS$52.873.5%
+US$491.1m		-10.1%PE12.3x
KNSL Kinsale Capital GroupUS$398.844.7%
+US$416.2m		-9.2%PE19.6x
AJG Arthur J. GallagherUS$258.520.6%
+US$390.3m		-12.9%PE41.5x
AIG American International GroupUS$72.930.9%
+US$345.3m		-3.0%PE11.9x

Latest News

UNM
US$76.09
Unum Group
7D
-4.1%
1Y
0.8%
AIG
US$72.93
American International Group
7D
0.9%
1Y
-3.0%

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.
GL
US$138.97
Globe Life
7D
-2.1%
1Y
16.2%
PRU
US$111.69
Prudential Financial
7D
-4.2%
1Y
-7.1%
TRV
US$269.42
Travelers Companies
7D
-0.7%
1Y
12.7%
KNSL
US$398.84
Kinsale Capital Group
7D
4.7%
1Y
-9.2%
ORI
US$43.05
Old Republic International
7D
2.9%
1Y
19.1%

ORI: Capital Returns And Commercial Auto Confidence Will Support Future Upside

Analysts have trimmed their price target on Old Republic International by $1 to $46, citing a solid recent quarter and confidence in management's view on commercial auto exposure and future capital support for ECM, while maintaining existing capital return plans to shareholders. Analyst Commentary Bullish Takeaways Bullish analysts trimmed the price target only slightly to $46, which signals that their broader thesis on valuation and execution remains largely intact after what they describe as a fine quarter.
MKL
US$2,059.51
Markel Group
7D
-1.8%
1Y
15.2%

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

Analysts have maintained their fair value estimate for Markel Group at about $2,051, with only very small tweaks to the discount rate, long term revenue growth, profit margin, and future P/E assumptions. This reflects largely unchanged views on the stock’s risk and earnings power.
HIG
US$129.59
Hartford Insurance Group
7D
-1.7%
1Y
15.7%

HIG: Future Returns Will Reflect Softening P&C Cycle And Resilient Profitability

Narrative Update on Hartford Insurance Group The analyst price target for Hartford Insurance Group edges higher to $145.55 from $143.60. This reflects updated models that factor in Street research around resilient insurer profitability, a softening P&C cycle, and mixed but still supported P/E assumptions for the stock.
PGR
US$202.37
Progressive
7D
-1.3%
1Y
-16.0%

PGR: Softer P&C Cycle Will Pressure Margins Despite Policy Momentum

Analysts have trimmed their fair value estimate for Progressive from US$215.56 to US$191.52, as they factor in softer P&C pricing and a lower future P/E of about 15x, while still seeing support from personal lines trends and policy growth. Analyst Commentary Recent Street research on Progressive reflects a mix of optimism on policy growth and margin resilience, alongside a more cautious tone on the broader P&C cycle and the stock's valuation.
AJG
US$258.52
Arthur J. Gallagher
7D
0.6%
1Y
-12.9%
FNF
US$52.87
Fidelity National Financial
7D
3.5%
1Y
-10.1%
BRO
US$80.01
Brown & Brown
7D
1.2%
1Y
-24.3%

BRO: Larger Buyback And Rising Dividend Will Support Future Upside

Analysts have trimmed their price target on Brown & Brown slightly to about $92.29 per share from roughly $92.86, citing updated assumptions for revenue growth, profit margins, and future P/E levels. What's in the News Brown & Brown reported that from July 1, 2025 to October 22, 2025, it repurchased 0 shares for US$0 under its existing buyback, while having completed repurchases of 16,529,102 shares for US$522.96m since the program began in 2015 (company disclosure).
ALL
US$192.28
Allstate
7D
-2.7%
1Y
1.3%

ALL: Lower Margins And Catastrophe Losses Will Pressure Future Upside

Analysts have adjusted their price target for Allstate slightly lower to about US$177 from roughly US$177, citing updated assumptions around higher discount rates, a change in expected revenue growth, a reduced profit margin outlook, and a higher future P/E multiple. What's in the News Allstate estimated October 2025 catastrophe losses of $83 million, or $65 million after tax, tied to five wind and hail events (Corporate Guidance, Unusual Events).
AFL
US$109.51
Aflac
7D
1.4%
1Y
2.9%

AFL: Future Returns Will Reflect Stable Earnings Power And Capital Returns Balancing Cyber Risks

Analysts made only a small adjustment to their Aflac fair value estimate, with the target price moving from about $111.08 to $111.31 as they factor in recent price target revisions across the sector, softer pricing trends in some insurance lines, and generally steady modeling updates following calm recent earnings seasons. Analyst Commentary Street research around Aflac reflects a mix of optimism on company specific execution and caution around broader insurance pricing trends, which feeds into relatively modest adjustments to fair value estimates.
CNA
US$46.38
CNA Financial
7D
2.1%
1Y
-5.0%