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U.S. Insurance Industry Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies128
  • 7D-1.1%
  • 3M3.1%
  • 1Y-5.4%
  • YTD-2.6%

Over the last 7 days, the Insurance industry has dropped 1.1%, driven by declines in Aon and Marsh & McLennan Companies of 4.8% and 3.7%, respectively. The industry has fallen 5.4% in the last year. Earnings are forecast to grow by 2.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026US$1.3tUS$959.7bUS$114.0b11.3x11.6x1.4x
Thu, 21 May 2026US$1.3tUS$959.6bUS$114.0b11.3x11.6x1.4x
Sat, 18 Apr 2026US$1.3tUS$948.6bUS$106.7b11.7x12.5x1.4x
Mon, 16 Mar 2026US$1.3tUS$946.2bUS$105.4b11.4x12.3x1.4x
Wed, 11 Feb 2026US$1.3tUS$945.7bUS$107.1b12.6x12.4x1.4x
Fri, 09 Jan 2026US$1.4tUS$931.1bUS$99.3b12.8x13.8x1.5x
Sun, 07 Dec 2025US$1.4tUS$931.1bUS$99.3b12.8x13.6x1.5x
Tue, 04 Nov 2025US$1.3tUS$928.3bUS$95.8b13.1x13.8x1.4x
Thu, 02 Oct 2025US$1.4tUS$919.1bUS$88.7b13.7x16.1x1.5x
Sat, 30 Aug 2025US$1.4tUS$919.0bUS$88.6b14.6x15.9x1.5x
Mon, 28 Jul 2025US$1.4tUS$912.4bUS$86.5b14.5x16.3x1.5x
Wed, 25 Jun 2025US$1.4tUS$904.1bUS$82.6b14.3x17.4x1.6x
Fri, 23 May 2025US$1.4tUS$902.8bUS$82.1b14.6x17.5x1.6x
Sun, 20 Apr 2025US$1.4tUS$898.5bUS$92.2b13.2x15.3x1.6x
Tue, 18 Mar 2025US$1.5tUS$897.3bUS$93.0b13.9x15.7x1.6x
Thu, 13 Feb 2025US$1.4tUS$886.8bUS$93.0b12.6x15x1.6x
Sat, 11 Jan 2025US$1.4tUS$892.9bUS$91.5b12.5x14.8x1.5x
Mon, 09 Dec 2024US$1.4tUS$893.2bUS$91.1b14.3x15.7x1.6x
Wed, 06 Nov 2024US$1.4tUS$884.9bUS$90.3b12.5x15x1.5x
Fri, 04 Oct 2024US$1.4tUS$855.0bUS$87.4b13.9x16x1.6x
Sun, 01 Sep 2024US$1.4tUS$855.4bUS$87.0b14.1x16x1.6x
Tue, 30 Jul 2024US$1.3tUS$844.5bUS$84.1b13.5x15.5x1.5x
Thu, 27 Jun 2024US$1.2tUS$823.4bUS$79.2b13.3x15x1.4x
Sat, 25 May 2024US$1.2tUS$823.4bUS$79.1b12.6x14.8x1.4x
Mon, 22 Apr 2024US$1.2tUS$797.7bUS$69.1b14.9x16.7x1.4x
Wed, 20 Mar 2024US$1.2tUS$792.7bUS$67.0b14.2x17.6x1.5x
Fri, 16 Feb 2024US$1.1tUS$782.1bUS$64.7b13.2x17.3x1.4x
Sun, 14 Jan 2024US$1.1tUS$790.2bUS$48.8b13.1x23.1x1.4x
Tue, 12 Dec 2023US$1.1tUS$792.9bUS$47.7b13.7x23.2x1.4x
Thu, 09 Nov 2023US$1.1tUS$792.2bUS$47.0b12.7x22.5x1.3x
Sat, 07 Oct 2023US$1.0tUS$799.1bUS$38.9b14.9x26.6x1.3x
Mon, 04 Sep 2023US$1.0tUS$799.3bUS$38.7b15.1x26.6x1.3x
Wed, 02 Aug 2023US$1.0tUS$789.3bUS$38.9b15.9x26.1x1.3x
Fri, 30 Jun 2023US$978.5bUS$777.7bUS$36.9b14.5x26.5x1.3x
Price to Earnings Ratio

26.5x


Total Market Cap: US$978.5bTotal Earnings: US$36.9bTotal Revenue: US$777.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 17.1x202420252026
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 11.6x which is lower than its 3-year average PE of 17.1x.
  • 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 46% per year over the last three years.
  • Revenues for these companies have grown 7.3% 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 Market1.40%
Financials0.51%
Insurance-1.14%
General Insurance-0.20%
Property and Casualty Insurance-0.38%
Reinsurance-0.66%
Life and Health Insurance-1.80%
Insurance Brokers-2.57%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 35.8x.
    • Analysts are expecting annual earnings growth of 13.7%, which is lower than the prior year's growth of 58.4% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 10.1x.
Forecasted Growth
  • Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 58% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 4.4% 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$207.381.9%
+US$2.3b		-22.1%PE10.5x
MAAS MaaseUS$18.9025.1%
+US$1.7b		n/aPS16265.1x
TRV Travelers CompaniesUS$310.611.4%
+US$880.3m		16.1%PE8.7x
AIG American International GroupUS$76.372.0%
+US$790.0m		-11.0%PE12.8x
BWIN Baldwin Insurance GroupUS$23.5229.5%
+US$522.5m		-43.8%PS1.4x

Latest News

BWIN
US$23.52
Baldwin Insurance Group
7D
29.5%
1Y
-43.8%
Seeking Alpha • 6h

Baldwin Insurance: Go-Private Rumors Appear Credible

Summary Baldwin Insurance is exploring strategic alternatives, including a potential go-private transaction, following a 40% stock decline over the past year. BWIN’s capital-light model and advisor network appeal to private equity, but existing leverage at 4.3x and $220 million in contingent earnouts are key considerations. Deal economics support a $28.50–$30.00/share buyout, offering private equity a 7.7% year-one free cash flow yield and potential mid-teens returns. I view BWIN’s AI disruption risk as modest, with commercial insurance complexity and potential advisor productivity gains supporting a continued buy rating. Read the full article on Seeking Alpha
CB
US$325.20
Chubb
7D
-0.5%
1Y
12.8%
PGR
US$207.38
Progressive
7D
1.9%
1Y
-22.1%
CINF
US$172.46
Cincinnati Financial
7D
1.8%
1Y
17.1%
AON
US$313.63
Aon
7D
-4.8%
1Y
-12.9%
Analysis Article • Jun 19

Aon (AON) Stock Could Be 17.5% Undervalued After Contract AI Launch And Leadership Moves

Aon (AON) has drawn fresh attention after rolling out its Contract AI platform for reinsurance clients, while recently reshaping senior broking and reinsurance leadership through several appointments across London and the middle market. See our latest analysis for Aon. Aon's recent Contract AI launch and leadership reshuffle come after a period where the share price has eased, with a 7.71% year to date share price decline and a 5 year total shareholder return of 38.66% pointing to mixed...
AJG
US$209.08
Arthur J. Gallagher
7D
-3.1%
1Y
-35.5%
Analysis Article • Jun 18

Arthur J. Gallagher (AJG) Stock Could Be 18.9% Undervalued on Its Digital Margin Growth Story

Arthur J. Gallagher Stock Snapshot After Recent Trading Moves Arthur J. Gallagher (AJG) stock has seen mixed short term performance, with a small decline over the past week, a gain over the past month, and a slight fall over the past 3 months. See our latest analysis for Arthur J. Gallagher. At a share price of $214.06, Arthur J. Gallagher’s 30 day share price return of 5.21% contrasts with a weaker year to date share price trend and a 1 year total shareholder return that is down 31.74%. This...
TRV
US$310.61
Travelers Companies
7D
1.4%
1Y
16.1%
Analysis Article • Jun 18

Travelers Companies (TRV) Stock Could Be 3% Undervalued After Barclays Downgrade

Barclays has downgraded Travelers Companies (TRV) to Underweight, pointing to softening pricing and slowing growth in the property and casualty insurance sector, a shift that puts broker sentiment firmly under the spotlight. See our latest analysis for Travelers Companies. At a share price of $306.07, Travelers Companies has edged higher in recent months, with a 90 day share price return of 3.11% and a 1 year total shareholder return of 17.38%. This suggests momentum has cooled compared with...
WTW
US$252.97
Willis Towers Watson
7D
-1.9%
1Y
-16.7%
GL
US$172.05
Globe Life
7D
2.8%
1Y
40.9%
Seeking Alpha • Jun 17

Globe Life: Quality Business, But The Easy Trust Recovery Is Already Priced In

Summary Globe Life demonstrates strong profit growth, 17.9% ROE, and robust capital returns, supported by a $610M share buyback for 2026. GL’s life insurance segment drives profitability with a 41% underwriting margin; the business model enables stable cash flows and high client retention. Valuation at 10.7x forward P/E reflects renewed market trust post-DOJ/SEC investigation, but premium P/B and low dividend yield highlight share buyback focus. Operational risks persist from data security incidents, rising administrative costs, and agent retention pressures, tempering an otherwise high-quality business outlook. Read the full article on Seeking Alpha
ERIE
US$211.65
Erie Indemnity
7D
-5.5%
1Y
-40.7%
Analysis Article • Jun 17

Erie Indemnity (ERIE) Stock Could Be 14.1% Below Fair Value Despite Premium P E

Erie Indemnity (ERIE) has drawn investor attention after recent share price swings, with the stock up slightly over the past month but down over the past 3 months and year to date. See our latest analysis for Erie Indemnity. At a share price of $225.64, Erie Indemnity’s recent moves reflect fading momentum, with the share price down over the past quarter and year to date, while the 3 and 5 year total shareholder returns remain positive. If recent moves in Erie Indemnity have you reassessing...
MRSH
US$160.12
Marsh & McLennan Companies
7D
-3.7%
1Y
-26.9%
Narrative Update • Jun 15

MRSH: Legal Wins And Acquisitions Will Support Future Earnings Resilience

Marsh & McLennan Companies' updated analyst price targets have edged lower, with several firms trimming their views by around $5 to $20 to reflect recent stock performance and a shift in preference toward insurance carriers over brokers following first quarter results. Analyst Commentary Recent research on Marsh & McLennan centers on fine tuning price targets and reassessing how the stock stacks up against insurance carriers following first quarter results.
AIG
US$76.37
American International Group
7D
2.0%
1Y
-11.0%
MAAS
US$18.90
Maase
7D
25.1%
1Y
n/a
KNSL
US$295.05
Kinsale Capital Group
7D
-5.4%
1Y
-38.3%
Narrative Update • Jun 10

KNSL: Underwriting Discipline In Higher Risk Niches Will Support Long Term Upside

Analysts have trimmed their price targets on Kinsale Capital Group, with several recent cuts bringing the consensus closer to $330. This reflects concerns that slower premium growth and expectations for softer pricing could limit the stock's upside potential.
BNT
US$44.12
Brookfield Wealth Solutions
7D
-3.3%
1Y
11.1%
CNA
US$45.76
CNA Financial
7D
1.9%
1Y
-0.1%