Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

South African (JSE) Insurance Industry Analysis

UpdatedJul 29, 2026
DataAggregated Company Financials
Companies6
  • 7D1.5%
  • 3M4.0%
  • 1Y8.4%
  • YTD1.0%

The Insurance industry has stayed flat over the last week. The past year has been better, since the industry has gained 7.8% in that time. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

Has the South African Insurance Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 29 Jul 2026R635.0bR620.3bR50.0b11x12.7x1x
Fri, 26 Jun 2026R653.4bR625.3bR50.9b10.9x12.8x1x
Sun, 24 May 2026R617.3bR625.3bR50.9b10.6x12.1x1x
Tue, 21 Apr 2026R630.0bR625.3bR50.9b10.9x12.4x1x
Thu, 19 Mar 2026R618.7bR623.8bR50.8b11x12.2x1x
Sat, 14 Feb 2026R653.4bR582.0bR51.2b10.8x12.8x1.1x
Mon, 12 Jan 2026R641.9bR582.0bR51.2b10.9x12.5x1.1x
Wed, 10 Dec 2025R628.8bR582.0bR51.2b10.3x12.3x1.1x
Fri, 07 Nov 2025R601.8bR582.0bR51.2b9.8x11.8x1x
Sun, 05 Oct 2025R576.3bR582.0bR51.2b9.1x11.3x1x
Tue, 02 Sep 2025R603.3bR541.2bR48.9b9.8x12.3x1.1x
Thu, 31 Jul 2025R590.8bR538.6bR48.6b9.5x12.2x1.1x
Sat, 28 Jun 2025R592.3bR538.6bR48.6b9.7x12.2x1.1x
Mon, 26 May 2025R581.7bR538.6bR48.6b9.4x12x1.1x
Wed, 23 Apr 2025R541.9bR538.6bR48.6b8.8x11.1x1x
Fri, 21 Mar 2025R560.1bR538.6bR48.6b9.4x11.5x1x
Sun, 16 Feb 2025R542.4bR499.5bR42.9b12.4x12.6x1.1x
Tue, 14 Jan 2025R537.1bR499.5bR42.9b12.3x12.5x1.1x
Thu, 12 Dec 2024R569.3bR499.5bR42.9b12.7x13.3x1.1x
Sat, 09 Nov 2024R539.9bR499.5bR42.9b12.5x12.6x1.1x
Mon, 07 Oct 2024R526.6bR499.5bR42.9b13.2x12.3x1.1x
Wed, 04 Sep 2024R483.5bR590.1bR35.1b13.1x13.8x0.8x
Fri, 02 Aug 2024R461.7bR587.7bR34.6b14.3x13.3x0.8x
Sun, 30 Jun 2024R452.4bR587.7bR34.6b14.4x13.1x0.8x
Tue, 28 May 2024R411.7bR587.7bR34.6b13.1x11.9x0.7x
Thu, 25 Apr 2024R375.3bR587.7bR34.6b11.6x10.8x0.6x
Sat, 23 Mar 2024R407.9bR599.8bR34.4b12.4x11.9x0.7x
Mon, 19 Feb 2024R422.3bR560.1bR33.8b12.2x12.5x0.8x
Wed, 17 Jan 2024R423.9bR560.1bR33.8b11.7x12.6x0.8x
Fri, 15 Dec 2023R434.0bR560.1bR33.8b11.6x12.9x0.8x
Sun, 12 Nov 2023R415.2bR560.1bR33.8b11.4x12.3x0.7x
Tue, 10 Oct 2023R404.7bR560.1bR33.8b11.3x12x0.7x
Thu, 07 Sep 2023R427.4bR383.4bR34.4b12.9x12.4x1.1x
Sat, 05 Aug 2023R424.9bR386.2bR33.7b12.8x12.6x1.1x
Price to Earnings Ratio

12.6x


Total Market Cap: R424.9bTotal Earnings: R33.7bTotal Revenue: R386.2bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Insurance Industry Price to Earnings3Y Average 12.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the South African Insurance industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 12.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.95x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 14% per year over the last three years.
  • Revenues for these companies have grown 17% 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 South African Financials industry?

ZA Market0.15%
Financials0.58%
Insurance1.50%
Property and Casualty Insurance2.97%
Life and Health Insurance0.95%
Insurance Brokers0%0
General Insurance0%0
Industry PE
  • Investors are most optimistic about the Property and Casualty Insurance industry, which is trading close to its 3-year average PE ratio of 18.6x.
    • Analysts are expecting annual earnings growth of 11.7%, which is lower than the prior year's growth of 14.5% per year.
  • Investors are most pessimistic about the Life and Health Insurance industry, which is trading close to its 3-year average of 11.1x.
Forecasted Growth
  • Analysts are most optimistic on the Property and Casualty Insurance industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 11% 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
OUT OUTsurance GroupR84.003.7%
+R4.6b		9.6%PE26x
DSY DiscoveryR258.521.9%
+R3.3b		22.9%PE16.4x
OMU Old MutualR13.363.4%
+R1.8b		4.9%PE6.6x
SNT SantamR400.440.9%
+R407.5m		-8.1%PE10.8x

Latest News

OUT
R84.00
OUTsurance Group
7D
3.7%
1Y
9.6%
Analysis Article • Jul 24

Here's Why We Think OUTsurance Group (JSE:OUT) Might Deserve Your Attention Today

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
MTM
R40.45
Momentum Group
7D
-0.1%
1Y
16.6%
Analysis Article • Jul 21

If EPS Growth Is Important To You, Momentum Group (JSE:MTM) Presents An Opportunity

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
DSY
R258.52
Discovery
7D
1.9%
1Y
22.9%
Narrative Update • Jul 14

DSY: Higher Profitability Assumptions Will Support A Richer Future P/E

Analysts have trimmed their fair value price target for Discovery from ZAR351.01 to ZAR340.82, as updated assumptions point to weaker revenue growth, a higher expected profit margin, and a slightly richer future P/E multiple. What’s in the News for Discovery No major recent news items have been identified for Discovery based on the provided sources.
SNT
R400.44
Santam
7D
0.9%
1Y
-8.1%
Narrative Update • Jul 10

nan

Santam’s updated analyst price target has moved from ZAR503.51 to ZAR449.33, as analysts adjust their assumptions for fair value, discount rate, expected revenue growth, profit margin and future P/E multiples. What’s in the News for Santam No recent Santam specific news, periodical coverage or key developments were provided in the available sources.
SLM
R86.08
Sanlam
7D
-0.4%
1Y
-0.3%
OMU
R13.36
Old Mutual
7D
3.4%
1Y
4.9%