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U.S. Insurance Industry Analysis

UpdatedAug 09, 2026
DataAggregated Company Financials
Companies127
  • 7D0.7%
  • 3M15.0%
  • 1Y8.4%
  • YTD8.8%

Over the last 7 days, the Insurance industry has remained flat. The past year has been better, since the industry has gained 8.4% in that time. As for the next few years, earnings are expected to grow by 1.0% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Aug 2026US$1.5tUS$978.2bUS$119.4b11.6x12.2x1.5x
Tue, 07 Jul 2026US$1.4tUS$958.6bUS$113.9b12.2x12.7x1.5x
Thu, 04 Jun 2026US$1.3tUS$960.1bUS$114.2b10.3x11.1x1.3x
Sat, 02 May 2026US$1.3tUS$953.2bUS$112.9b11.5x11.6x1.4x
Mon, 30 Mar 2026US$1.3tUS$946.4bUS$105.4b10.9x11.9x1.3x
Wed, 25 Feb 2026US$1.3tUS$950.6bUS$105.1b12.1x12.7x1.4x
Fri, 23 Jan 2026US$1.3tUS$931.9bUS$99.8b12.9x13.3x1.4x
Sun, 21 Dec 2025US$1.4tUS$931.1bUS$99.3b13.4x14.1x1.5x
Tue, 18 Nov 2025US$1.4tUS$931.0bUS$99.2b12.9x13.9x1.5x
Thu, 16 Oct 2025US$1.4tUS$921.8bUS$88.9b14.2x16x1.5x
Sat, 13 Sep 2025US$1.4tUS$919.1bUS$88.6b14.4x16x1.5x
Mon, 11 Aug 2025US$1.4tUS$918.1bUS$88.4b14x15.6x1.5x
Wed, 09 Jul 2025US$1.4tUS$903.0bUS$82.1b14.4x17.1x1.6x
Fri, 06 Jun 2025US$1.5tUS$902.8bUS$82.3b14.8x17.7x1.6x
Sun, 04 May 2025US$1.4tUS$894.8bUS$85.1b14.2x16.9x1.6x
Tue, 01 Apr 2025US$1.5tUS$897.3bUS$93.0b14.2x16x1.7x
Thu, 27 Feb 2025US$1.4tUS$896.1bUS$94.1b12.7x15.2x1.6x
Sat, 25 Jan 2025US$1.4tUS$894.1bUS$91.8b12.7x14.9x1.5x
Mon, 23 Dec 2024US$1.4tUS$893.2bUS$91.1b13.1x14.8x1.5x
Wed, 20 Nov 2024US$1.4tUS$893.3bUS$91.0b13.5x15.7x1.6x
Fri, 18 Oct 2024US$1.4tUS$860.8bUS$89.5b14.3x15.8x1.6x
Sun, 15 Sep 2024US$1.4tUS$855.5bUS$87.0b14.2x15.9x1.6x
Tue, 13 Aug 2024US$1.3tUS$855.4bUS$87.0b13.4x14.8x1.5x
Thu, 11 Jul 2024US$1.2tUS$820.7bUS$79.0b13.5x14.8x1.4x
Sat, 08 Jun 2024US$1.2tUS$823.4bUS$79.2b12.7x14.8x1.4x
Mon, 06 May 2024US$1.1tUS$818.7bUS$78.8b14.1x14.6x1.4x
Wed, 03 Apr 2024US$1.2tUS$792.6bUS$66.9b15.1x17.9x1.5x
Fri, 01 Mar 2024US$1.2tUS$791.6bUS$66.2b14.9x17.4x1.5x
Sun, 28 Jan 2024US$1.2tUS$794.3bUS$49.9b13.2x23.3x1.5x
Tue, 26 Dec 2023US$1.1tUS$792.9bUS$47.7b12.7x22.8x1.4x
Thu, 23 Nov 2023US$1.1tUS$792.6bUS$47.3b13.2x22.9x1.4x
Sat, 21 Oct 2023US$1.0tUS$804.2bUS$40.0b14.6x25.8x1.3x
Mon, 18 Sep 2023US$1.0tUS$799.3bUS$38.7b14.9x26.9x1.3x
Wed, 16 Aug 2023US$1.0tUS$799.0bUS$38.6b14.9x26.2x1.3x
Price to Earnings Ratio

26.2x


Total Market Cap: US$1.0tTotal Earnings: US$38.6bTotal Revenue: US$799.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Insurance Industry Price to Earnings3Y Average 16.5x202420252026
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 16.5x.
  • 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 7.0% 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 Market4.18%
Financials1.27%
Insurance0.67%
Reinsurance1.33%
Insurance Brokers1.04%
Property and Casualty Insurance0.80%
General Insurance0.20%
Life and Health Insurance-0.22%
Industry PE
  • Investors are most optimistic about the Insurance Brokers industry even though it's trading below its 3-year average PE ratio of 35.4x.
    • Analysts are expecting annual earnings growth of 14.6%, which is lower than the prior year's growth of 41.5% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 9.4x.
Forecasted Growth
  • Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 15% over the next 5 years.
  • However this is lower than its past earnings growth rate of 42% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings decline by 6.5% 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$215.331.8%
+US$2.3b		-12.6%PE10.7x
TRV Travelers CompaniesUS$384.312.7%
+US$2.1b		45.1%PE9.7x
MRSH Marsh & McLennan CompaniesUS$191.651.0%
+US$935.3m		-5.9%PE23x
WTW Willis Towers WatsonUS$344.822.6%
+US$826.6m		5.2%PE20.5x
LIFE Ethos TechnologiesUS$31.6154.8%
+US$704.9m		n/aPS3.4x

Latest News

AIG
US$78.78
American International Group
7D
0.3%
1Y
0.8%
TRV
US$384.31
Travelers Companies
7D
2.7%
1Y
45.1%
RGA
US$246.33
Reinsurance Group of America
7D
4.0%
1Y
32.1%
PRU
US$121.28
Prudential Financial
7D
-0.7%
1Y
17.4%
MRSH
US$191.65
Marsh & McLennan Companies
7D
1.0%
1Y
-5.9%
FNF
US$50.18
Fidelity National Financial
7D
-2.7%
1Y
-13.9%
Narrative Update • Aug 08

FNF: Fair Value View Will Weigh Strong Q2 Results Against Execution Risk

Analysts have raised the fair value estimate for Fidelity National Financial to $54 from $50, reflecting updated views on its discount rate, revenue growth, profit margin, and future P/E assumptions that are in line with recent price target moves from firms such as Barclays and Keefe Bruyette. Analyst Commentary Recent Street research on Fidelity National Financial shows a mix of cautious and supportive views.
OSCR
US$27.90
Oscar Health
7D
-10.6%
1Y
80.5%
Narrative Update • Aug 08

OSCR: ACA Pricing And Risk Adjustment Tailwinds Will Drive Margin Recovery

The analyst fair value estimate for Oscar Health has increased from $34.47 to $39.00 as analysts respond to a series of higher price targets and argue that recent earnings-related weakness and industry concerns are more limited than headlines suggest. Analyst Commentary Recent research on Oscar Health points to a more constructive tone following the latest earnings and pricing updates.
PGR
US$215.33
Progressive
7D
1.8%
1Y
-12.6%
Narrative Update • Aug 08

PGR: AI And Underwriting Discipline Will Support Resilient Margins Through 2028

Analysts trimmed their blended price target on Progressive by about $7 to reflect reduced fair value and profit margin assumptions, along with a slightly higher discount rate, even as they factor in firmer revenue growth and a modestly lower future P/E multiple. Analyst Commentary Recent Street research on Progressive shows a mix of caution and optimism as analysts reassess valuation, growth expectations, and underwriting trends.
ERIE
US$252.58
Erie Indemnity
7D
4.4%
1Y
-29.3%
AFL
US$124.61
Aflac
7D
-2.3%
1Y
20.4%
ALL
US$267.00
Allstate
7D
1.1%
1Y
29.1%
Seeking Alpha • Aug 07

Allstate: Strong Operating Performance Is Not Sustainable In The Long Run

Summary Allstate Corporation delivered strong Q2 2026 results, driven by lower catastrophe losses, robust top-line growth, and improved underwriting profitability. ALL's combined ratio improved to 86.6% in Q2 and 84.3% for H1 2026, but these levels are not expected to be sustainable long term. Net income and ROE are currently elevated, yet earnings and profitability are projected to normalize as underwriting margins revert to historical averages. ALL's valuation at 2.2x book value appears fair, with capital returns focused on share buybacks and a sustainable, low-payout dividend. Read the full article on Seeking Alpha
LIFE
US$31.61
Ethos Technologies
7D
54.8%
1Y
n/a
Narrative Update • Aug 07

LIFE: Buyback Authorization And Margin Outlook Will Drive Future Upside

Analysts have lifted their price target on Ethos Technologies from $31.61 to $40.00, citing updated assumptions for revenue growth, a higher profit margin profile, and a slightly adjusted discount rate and future P/E multiple. What’s in the News for Ethos Technologies Ethos reported second quarter fiscal 2026 financial results, with revenue reported as 113% higher year over year.
AON
US$358.30
Aon
7D
-0.6%
1Y
-2.2%
WTW
US$344.82
Willis Towers Watson
7D
2.6%
1Y
5.2%
UNM
US$90.56
Unum Group
7D
5.2%
1Y
30.5%
ACGL
US$98.48
Arch Capital Group
7D
-2.0%
1Y
10.9%