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U.S. Insurance Industry Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies130
  • 7D2.9%
  • 3M-4.2%
  • 1Y-5.4%
  • YTD-3.1%

In the last week, Insurance has been flat. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 3.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Apr 2026US$1.3tUS$946.2bUS$105.4b11.5x12.3x1.4x
Sat, 07 Mar 2026US$1.3tUS$948.2bUS$105.3b11.6x12.8x1.4x
Mon, 02 Feb 2026US$1.4tUS$937.9bUS$101.7b13.2x13.3x1.4x
Wed, 31 Dec 2025US$1.4tUS$931.1bUS$99.3b13.3x14.2x1.5x
Fri, 28 Nov 2025US$1.4tUS$931.0bUS$99.2b13.2x13.9x1.5x
Sun, 26 Oct 2025US$1.4tUS$925.9bUS$90.6b13.5x14.9x1.5x
Tue, 23 Sep 2025US$1.4tUS$919.1bUS$88.7b13.8x15.7x1.5x
Thu, 21 Aug 2025US$1.4tUS$918.4bUS$88.4b14.4x16x1.5x
Sat, 19 Jul 2025US$1.4tUS$908.2bUS$84.9b14.4x16.4x1.5x
Mon, 16 Jun 2025US$1.4tUS$903.2bUS$82.4b14.3x17.2x1.6x
Wed, 14 May 2025US$1.4tUS$902.6bUS$82.2b15.1x17.6x1.6x
Fri, 11 Apr 2025US$1.4tUS$897.3bUS$92.9b13x15.3x1.6x
Sun, 09 Mar 2025US$1.4tUS$897.4bUS$93.2b13.2x15.6x1.6x
Tue, 04 Feb 2025US$1.4tUS$901.4bUS$90.8b12.8x15.3x1.5x
Thu, 02 Jan 2025US$1.4tUS$892.9bUS$91.5b13x14.8x1.5x
Sat, 30 Nov 2024US$1.5tUS$893.2bUS$91.1b13.8x16.2x1.7x
Mon, 28 Oct 2024US$1.4tUS$865.4bUS$90.8b13.5x15.2x1.6x
Wed, 25 Sep 2024US$1.4tUS$855.1bUS$87.4b14.1x16x1.6x
Fri, 23 Aug 2024US$1.3tUS$855.4bUS$87.0b13.7x15.4x1.6x
Sun, 21 Jul 2024US$1.2tUS$825.2bUS$80.8b12.9x15x1.5x
Tue, 18 Jun 2024US$1.2tUS$823.4bUS$79.2b13x14.6x1.4x
Thu, 16 May 2024US$1.2tUS$823.1bUS$79.1b12.7x14.9x1.4x
Sat, 13 Apr 2024US$1.1tUS$795.6bUS$68.8b14.5x16.5x1.4x
Mon, 11 Mar 2024US$1.2tUS$792.4bUS$66.9b13.9x17.3x1.5x
Wed, 07 Feb 2024US$1.1tUS$787.5bUS$55.1b13.1x19.9x1.4x
Fri, 05 Jan 2024US$1.1tUS$790.2bUS$48.8b12.8x22.7x1.4x
Sun, 03 Dec 2023US$1.1tUS$792.8bUS$47.5b12.8x23.2x1.4x
Tue, 31 Oct 2023US$1.0tUS$808.6bUS$43.5b14.1x23.9x1.3x
Thu, 28 Sep 2023US$1.0tUS$799.3bUS$38.7b14.7x26.8x1.3x
Sat, 26 Aug 2023US$1.0tUS$799.2bUS$38.7b14.8x26.2x1.3x
Mon, 24 Jul 2023US$1.0tUS$783.5bUS$37.5b15.6x27x1.3x
Wed, 21 Jun 2023US$966.5bUS$774.5bUS$35.1b15.1x27.5x1.2x
Fri, 19 May 2023US$982.7bUS$774.5bUS$35.2b15.7x28x1.3x
Sun, 16 Apr 2023US$964.4bUS$759.1bUS$44.1b14.7x21.9x1.3x
Price to Earnings Ratio

21.9x


Total Market Cap: US$964.4bTotal Earnings: US$44.1bTotal Revenue: US$759.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 18x202420252026
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 12.3x which is lower than its 3-year average PE of 18.0x.
  • 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 Market2.97%
Financials3.58%
Insurance2.95%
General Insurance4.32%
Reinsurance3.63%
Life and Health Insurance3.16%
Property and Casualty Insurance2.95%
Insurance Brokers2.65%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 36.5x.
    • Analysts are expecting annual earnings growth of 13.3%, which is lower than the prior year's growth of 50.3% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 12.6x.
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 50% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 2.1% 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
PGR ProgressiveUS$198.092.4%
+US$2.8b		-26.7%PE10.2x
ALL AllstateUS$212.073.9%
+US$2.1b		9.9%PE5.4x
MET MetLifeUS$74.344.5%
+US$2.1b		-1.2%PE15.3x
MRSH Marsh & McLennan CompaniesUS$175.812.3%
+US$1.9b		-23.4%PE20.5x
CB ChubbUS$332.641.7%
+US$1.8b		16.9%PE12.5x

Latest News

PRU
US$96.65
Prudential Financial
7D
-1.4%
1Y
-7.0%
TRV
US$301.59
Travelers Companies
7D
3.8%
1Y
21.6%
MET
US$74.34
MetLife
7D
4.5%
1Y
-1.2%
OSG
US$3.98
Octave Specialty Group
7D
-13.3%
1Y
-42.7%

OSG: Share Repurchases Will Tighten Float And Support Future Upside Potential

Analysts now maintain their price target for Octave Specialty Group at $12.00, citing similar fair value and margin assumptions, with only modest adjustments to revenue growth, the discount rate, and future P/E inputs. What's in the News Completed share repurchase of 4,371,886 shares, representing 9.33% of outstanding shares, for a total of $42.45 million under the buyback announced on November 12, 2024 (Key Developments).
PGR
US$198.09
Progressive
7D
2.4%
1Y
-26.7%

PGR: AI Expense Efficiencies Will Support Future Earnings Despite Softer Expectations

Analyst price targets for Progressive have edged lower by about $1, reflecting slightly softer assumptions on revenue growth and margins, even as many analysts still highlight areas like AI driven expense efficiencies and personal auto policy growth in their views. Analyst Commentary Street research on Progressive has turned more cautious on valuation, with a series of target cuts across banks and research houses, even as some firms still point to execution strengths in core auto and expense management.
AON
US$329.76
Aon
7D
2.6%
1Y
-11.7%

AON: Margin Durability And AI Data Expansion Will Support Future Upside

Analysts have lowered the blended price target for Aon to reflect softer revenue growth expectations, a modestly lower fair value estimate of around $396, and sector commentary pointing to weaker pricing and AI headwinds. These factors are partly offset by steady margin assumptions and a slightly lower future P/E of about 24.4x.
ALL
US$212.07
Allstate
7D
3.9%
1Y
9.9%

Allstate Has Weathered The Insurance Storm In 2025, As Its Umbrella Remains Strong

Apr 04
LMND
US$58.94
Lemonade
7D
-3.5%
1Y
97.7%

LMND: Extended Profitability Timeline Will Limit Benefits From Tesla Data Partnership

Analysts have nudged their price targets on Lemonade higher in recent weeks, including moves such as Morgan Stanley's shift to $85 and other target increases of $4 to $7. These changes reflect growing focus on the Tesla partnership, expected benefits from autonomous exposure, and ongoing debate around the cost and payoff of Lemonade's automation and bundling efforts.
AFL
US$113.00
Aflac
7D
3.1%
1Y
7.3%

AFL: Future Returns Will Reflect Capital Strength And Earnings Execution Risks

Narrative Update The analyst price target framework for Aflac now centers around $113. This reflects updated Street work, with some firms raising targets toward $118 and others trimming into the $101 to $120 range as analysts refresh earnings estimates and extend their valuation horizons.
MRSH
US$175.81
Marsh & McLennan Companies
7D
2.3%
1Y
-23.4%

MRSH: Earnings Should Stay Resilient As AI Drives Broker Productivity

The analyst price target for Marsh & McLennan Companies has been trimmed slightly, with a modest reduction of around $1 per share as analysts factor in more tempered assumptions for revenue growth and profit margins, while still highlighting AI driven productivity potential and the resilience of the broker business model. Analyst Commentary Recent research suggests that views on Marsh & McLennan are split, with price targets moving both up and down as analysts reassess growth, margins, and the impact of AI on the broker model.
CB
US$332.64
Chubb
7D
1.7%
1Y
16.9%
FG
US$24.95
F&G Annuities & Life
7D
-3.3%
1Y
-31.5%
YB
US$18.82
Yuanbao
7D
-2.0%
1Y
n/a
PRA
US$24.31
ProAssurance
7D
-1.6%
1Y
4.9%
AIFU
US$1.29
AIFU
7D
-6.2%
1Y
n/a

AIFU Inc.: Private Placement And Negative Earnings Have Disinterested Investors

Feb 12
MAAS
US$5.84
Maase
7D
-2.3%
1Y
n/a