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South African (JSE) Insurance Industry Analysis

UpdatedFeb 04, 2025
DataAggregated Company Financials
Companies7
  • 7D0.7%
  • 3M-4.4%
  • 1Y23.8%
  • YTD-5.7%

In the last week, Insurance has been flat. As for the the longer term, the industry is up 24% over the past 12 months. As for the next few years, earnings are expected to grow by 7.8% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 04 Feb 2025R523.6bR499.5bR42.9b12.6x12.2x1x
Thu, 02 Jan 2025R555.0bR499.5bR42.9b12.7x12.9x1.1x
Sat, 30 Nov 2024R552.6bR499.5bR42.9b14.2x12.9x1.1x
Mon, 28 Oct 2024R527.2bR499.5bR42.9b12.3x12.3x1.1x
Wed, 25 Sep 2024R525.7bR568.8bR42.7b12.5x12.3x0.9x
Fri, 23 Aug 2024R480.5bR587.7bR34.6b14.9x13.9x0.8x
Sun, 21 Jul 2024R451.8bR587.7bR34.6b14.2x13x0.8x
Tue, 18 Jun 2024R425.8bR587.7bR34.6b13x12.3x0.7x
Thu, 16 May 2024R402.5bR587.7bR34.6b12.8x11.6x0.7x
Sat, 13 Apr 2024R376.9bR587.7bR34.6b11.3x10.9x0.6x
Mon, 11 Mar 2024R427.4bR573.3bR33.6b13.4x12.7x0.7x
Wed, 07 Feb 2024R426.5bR560.1bR33.8b12.2x12.6x0.8x
Fri, 05 Jan 2024R424.0bR560.1bR33.8b11.8x12.6x0.8x
Sun, 03 Dec 2023R411.2bR560.1bR33.8b11.7x12.2x0.7x
Tue, 31 Oct 2023R398.7bR560.1bR33.8b11.1x11.8x0.7x
Thu, 28 Sep 2023R421.8bR550.6bR34.2b12.3x12.3x0.8x
Sat, 26 Aug 2023R418.0bR386.2bR33.7b12.6x12.4x1.1x
Mon, 24 Jul 2023R412.8bR386.2bR33.7b12.2x12.3x1.1x
Wed, 21 Jun 2023R393.1bR386.2bR33.7b11.2x11.7x1x
Fri, 19 May 2023R349.4bR386.2bR33.7b9.5x10.4x0.9x
Sun, 16 Apr 2023R377.5bR386.2bR33.7b10.4x11.2x1x
Tue, 14 Mar 2023R383.8bR319.7bR34.2b10.5x11.2x1.2x
Thu, 09 Feb 2023R388.8bR463.2bR33.4b10.5x11.6x0.8x
Sat, 07 Jan 2023R351.4bR463.2bR33.4b9.2x10.5x0.8x
Mon, 05 Dec 2022R335.1bR463.2bR33.4b9.2x10x0.7x
Wed, 02 Nov 2022R336.6bR463.2bR33.4b9.5x10.1x0.7x
Fri, 30 Sep 2022R318.2bR463.2bR33.4b9.1x9.5x0.7x
Sun, 28 Aug 2022R355.5bR734.3bR26.3b12.2x13.5x0.5x
Tue, 26 Jul 2022R343.1bR734.3bR26.3b11.9x13x0.5x
Thu, 23 Jun 2022R348.9bR734.3bR26.3b11.7x13.2x0.5x
Sat, 21 May 2022R374.8bR734.3bR26.3b13.6x14.2x0.5x
Mon, 18 Apr 2022R442.9bR734.3bR26.3b14.8x16.8x0.6x
Wed, 16 Mar 2022R458.1bR779.3bR28.5b18.2x16.1x0.6x
Fri, 11 Feb 2022R478.4bR721.1bR22.8b23.8x21x0.7x
Price to Earnings Ratio

21x


Total Market Cap: R478.4bTotal Earnings: R22.8bTotal Revenue: R721.1bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Insurance Industry Price to Earnings3Y Average 12.6x202320242025
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 12.6x.
  • The 3-year average PS ratio of 0.79x is lower than the industry's current PS ratio of 1.0x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 23% per year over the last three years.
  • Meanwhile revenues for these companies have declined 12% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the South African Financials industry?

ZA Market1.78%
Financials-0.022%
Insurance0.69%
Property and Casualty Insurance1.89%
Life and Health Insurance0.26%
Insurance Brokers0%0
General Insurance0%0
Reinsurance0%0
Industry PE
  • Investors are most optimistic about the Property and Casualty Insurance industry which is trading above its 3-year average PE ratio of 15.9x.
    • Analysts are expecting annual earnings growth of 7.4%, which is lower than the prior year's growth of 22.9% per year.
  • Investors are most pessimistic about the Life and Health Insurance industry, which is trading below its 3-year average of 12.0x.
Forecasted Growth
  • Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 7.9% over the next 5 years.
  • However this is lower than its past earnings growth rate of 24% per year.
  • In contrast, the Property and Casualty Insurance industry is expected to see its earnings grow by 7.4% 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
OUT OUTsurance GroupR65.524.2%
+R4.1b		57.5%PE25x
SLM SanlamR81.491.3%
+R2.1b		13.5%PE10.1x
OMU Old MutualR12.252.4%
+R1.3b		-0.08%PE6.7x
DSY DiscoveryR179.610.5%
+R647.8m		31.1%PE16.6x
SNT SantamR370.730.5%
+R198.7m		25.3%PE14x
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Latest News

SLM

R81.49

Sanlam

7D

1.3%

1Y

13.5%

DSY

R179.61

Discovery

7D

0.5%

1Y

31.1%

SNT

R370.73

Santam

7D

0.5%

1Y

25.3%

CLI

R12.26

Clientèle

7D

-2.3%

1Y

6.6%

OUT

R65.52

OUTsurance Group

7D

4.2%

1Y

57.5%

MTM

R28.73

Momentum Group

7D

-0.8%

1Y

39.8%

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With Momentum Group Limited (JSE:MTM) It Looks Like You'll Get What You Pay For

OMU

R12.25

Old Mutual

7D

2.4%

1Y

-0.08%

Earnings Working Against Old Mutual Limited's (JSE:OMU) Share Price

Nov 20
Earnings Working Against Old Mutual Limited's (JSE:OMU) Share Price