South African (JSE) Insurance Industry Analysis

UpdatedAug 16, 2026

DataAggregated Company Financials

Companies6

7D-1.5%
3M4.6%
1Y7.9%
YTD1.0%

Over the last 7 days, the Insurance industry has dropped 1.5%, driven by Sanlam declining 2.6%. In the past year, the industry has gained 7.9%. 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?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 16 Aug 2026	R635.1b	R620.3b	R50.0b	11.2x	12.7x	1x
Tue, 14 Jul 2026	R635.9b	R620.3b	R50.0b	11.3x	12.7x	1x
Thu, 11 Jun 2026	R624.9b	R625.3b	R50.9b	10.8x	12.3x	1x
Sat, 09 May 2026	R631.3b	R625.3b	R50.9b	10.7x	12.4x	1x
Mon, 06 Apr 2026	R622.3b	R625.3b	R50.9b	10.7x	12.2x	1x
Wed, 04 Mar 2026	R657.9b	R582.0b	R51.2b	10.6x	12.9x	1.1x
Fri, 30 Jan 2026	R655.0b	R582.0b	R51.2b	11.1x	12.8x	1.1x
Sun, 28 Dec 2025	R637.4b	R582.0b	R51.2b	10.5x	12.5x	1.1x
Tue, 25 Nov 2025	R612.6b	R582.0b	R51.2b	9.8x	12x	1.1x
Thu, 23 Oct 2025	R612.9b	R582.0b	R51.2b	9.9x	12x	1.1x
Sat, 20 Sep 2025	R588.0b	R582.2b	R51.2b	9.2x	11.5x	1x
Mon, 18 Aug 2025	R594.1b	R538.6b	R48.6b	9.7x	12.2x	1.1x
Wed, 16 Jul 2025	R581.7b	R538.6b	R48.6b	9.4x	12x	1.1x
Fri, 13 Jun 2025	R609.8b	R538.6b	R48.6b	9.8x	12.5x	1.1x
Sun, 11 May 2025	R582.7b	R538.6b	R48.6b	9.4x	12x	1.1x
Tue, 08 Apr 2025	R496.5b	R538.6b	R48.6b	7.9x	10.2x	0.9x
Thu, 06 Mar 2025	R556.6b	R507.0b	R44.7b	12.3x	12.5x	1.1x
Sat, 01 Feb 2025	R523.6b	R499.5b	R42.9b	12.7x	12.2x	1x
Mon, 30 Dec 2024	R555.0b	R499.5b	R42.9b	12.2x	12.9x	1.1x
Wed, 27 Nov 2024	R559.7b	R499.5b	R42.9b	13.3x	13x	1.1x
Fri, 25 Oct 2024	R528.3b	R499.5b	R42.9b	12.1x	12.3x	1.1x
Sun, 22 Sep 2024	R518.7b	R568.8b	R42.7b	12.1x	12.2x	0.9x
Tue, 20 Aug 2024	R483.6b	R587.7b	R34.6b	15.1x	14x	0.8x
Thu, 18 Jul 2024	R451.1b	R587.7b	R34.6b	14.2x	13x	0.8x
Sat, 15 Jun 2024	R425.8b	R587.7b	R34.6b	13x	12.3x	0.7x
Mon, 13 May 2024	R401.8b	R587.7b	R34.6b	12.6x	11.6x	0.7x
Wed, 10 Apr 2024	R394.0b	R587.7b	R34.6b	11.9x	11.4x	0.7x
Fri, 08 Mar 2024	R424.4b	R573.3b	R33.6b	13.5x	12.6x	0.7x
Sun, 04 Feb 2024	R424.8b	R560.1b	R33.8b	11.9x	12.6x	0.8x
Tue, 02 Jan 2024	R437.8b	R560.1b	R33.8b	11.8x	13x	0.8x
Thu, 30 Nov 2023	R414.2b	R560.1b	R33.8b	11.8x	12.3x	0.7x
Sat, 28 Oct 2023	R395.1b	R560.1b	R33.8b	11.3x	11.7x	0.7x
Mon, 25 Sep 2023	R426.5b	R550.6b	R34.2b	12.3x	12.5x	0.8x
Wed, 23 Aug 2023	R409.5b	R386.2b	R33.7b	12.3x	12.2x	1.1x

Price to Earnings Ratio

12.2x

Wed, 23 Aug 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 0.95x.

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 Market	-2.71%
Financials	-1.60%
Insurance	-1.52%
Insurance Brokers	0%	0
General Insurance	0%	0
Property and Casualty Insurance	-0.55%
Life and Health Insurance	-1.87%

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.