South African (JSE) Insurance Industry Analysis

UpdatedJul 08, 2026

DataAggregated Company Financials

Companies6

7D1.4%
3M3.3%
1Y6.5%
YTD1.1%

Over the last 7 days, the Insurance industry has risen 1.4%, driven by gains from Sanlam of 3.0%. This means that the industry has gained 6.5% over the past year. 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?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 08 Jul 2026	R635.6b	R620.3b	R50.0b	11.2x	12.7x	1x
Fri, 05 Jun 2026	R610.3b	R625.3b	R50.9b	10.7x	12x	1x
Sun, 03 May 2026	R619.3b	R625.3b	R50.9b	10.7x	12.2x	1x
Tue, 31 Mar 2026	R611.9b	R625.3b	R50.9b	10.5x	12x	1x
Thu, 26 Feb 2026	R674.0b	R582.0b	R51.2b	11.2x	13.2x	1.2x
Sat, 24 Jan 2026	R645.5b	R582.0b	R51.2b	10.9x	12.6x	1.1x
Mon, 22 Dec 2025	R636.8b	R582.0b	R51.2b	10.6x	12.4x	1.1x
Wed, 19 Nov 2025	R618.9b	R582.0b	R51.2b	9.9x	12.1x	1.1x
Fri, 17 Oct 2025	R600.3b	R582.0b	R51.2b	9.6x	11.7x	1x
Sun, 14 Sep 2025	R586.1b	R577.1b	R49.7b	9.2x	11.8x	1x
Tue, 12 Aug 2025	R588.3b	R538.6b	R48.6b	9.4x	12.1x	1.1x
Thu, 10 Jul 2025	R601.7b	R538.6b	R48.6b	9.7x	12.4x	1.1x
Sat, 07 Jun 2025	R609.1b	R538.6b	R48.6b	10x	12.5x	1.1x
Mon, 05 May 2025	R585.9b	R538.6b	R48.6b	9.5x	12.1x	1.1x
Wed, 02 Apr 2025	R561.3b	R538.6b	R48.6b	9.2x	11.5x	1x
Fri, 28 Feb 2025	R576.4b	R499.5b	R42.9b	12.5x	13.4x	1.2x
Sun, 26 Jan 2025	R521.5b	R499.5b	R42.9b	12.8x	12.1x	1x
Tue, 24 Dec 2024	R559.9b	R499.5b	R42.9b	12.2x	13x	1.1x
Thu, 21 Nov 2024	R557.3b	R499.5b	R42.9b	12.9x	13x	1.1x
Sat, 19 Oct 2024	R538.2b	R499.5b	R42.9b	12.5x	12.5x	1.1x
Mon, 16 Sep 2024	R493.9b	R577.1b	R40.1b	10.7x	12.3x	0.9x
Wed, 14 Aug 2024	R460.5b	R587.7b	R34.6b	14.3x	13.3x	0.8x
Fri, 12 Jul 2024	R459.4b	R587.7b	R34.6b	14.6x	13.3x	0.8x
Sun, 09 Jun 2024	R394.6b	R587.7b	R34.6b	12.7x	11.4x	0.7x
Tue, 07 May 2024	R396.0b	R587.7b	R34.6b	12.3x	11.4x	0.7x
Thu, 04 Apr 2024	R386.6b	R587.7b	R34.6b	11.4x	11.2x	0.7x
Sat, 02 Mar 2024	R432.0b	R573.9b	R33.6b	13.5x	12.9x	0.8x
Mon, 29 Jan 2024	R426.0b	R560.1b	R33.8b	11.9x	12.6x	0.8x
Wed, 27 Dec 2023	R427.0b	R560.1b	R33.8b	12x	12.6x	0.8x
Fri, 24 Nov 2023	R421.3b	R560.1b	R33.8b	11.7x	12.5x	0.8x
Sun, 22 Oct 2023	R401.8b	R560.1b	R33.8b	11.2x	11.9x	0.7x
Tue, 19 Sep 2023	R418.0b	R531.4b	R34.1b	12.8x	12.2x	0.8x
Thu, 17 Aug 2023	R417.8b	R386.2b	R33.7b	12.5x	12.4x	1.1x
Sat, 15 Jul 2023	R407.4b	R386.2b	R33.7b	12.2x	12.1x	1.1x

Price to Earnings Ratio

12.1x

Sat, 15 Jul 2023

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 0.96x.

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 Market	0.82%
Financials	1.85%
Insurance	1.45%
Property and Casualty Insurance	2.77%
Life and Health Insurance	0.98%
Insurance Brokers	0%	0
General Insurance	0%	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 18.5x.

Analysts are expecting annual earnings growth of 11.8%, 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.