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South African (JSE) Insurance Industry Analysis

UpdatedJul 01, 2025
DataAggregated Company Financials
Companies7
  • 7D2.1%
  • 3M6.8%
  • 1Y29.1%
  • YTD8.2%

The Insurance industry has stayed flat over the last week. As for the the longer term, the industry is up 31% over the past 12 months. Looking forward, earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 01 Jul 2025R597.0bR538.6bR48.6b9.7x12.3x1.1x
Thu, 29 May 2025R592.3bR538.6bR48.6b9.6x12.2x1.1x
Sat, 26 Apr 2025R562.7bR538.6bR48.6b9.1x11.6x1x
Mon, 24 Mar 2025R560.1bR538.6bR48.6b9.4x11.5x1x
Wed, 19 Feb 2025R545.0bR499.5bR42.9b12.5x12.7x1.1x
Fri, 17 Jan 2025R542.7bR499.5bR42.9b12.3x12.6x1.1x
Sun, 15 Dec 2024R568.6bR499.5bR42.9b13x13.2x1.1x
Tue, 12 Nov 2024R541.0bR499.5bR42.9b13.2x12.6x1.1x
Thu, 10 Oct 2024R525.3bR499.5bR42.9b12.6x12.2x1.1x
Sat, 07 Sep 2024R487.1bR577.1bR40.1b10.4x12.1x0.8x
Mon, 05 Aug 2024R453.0bR587.7bR34.6b13.9x13.1x0.8x
Wed, 03 Jul 2024R462.0bR587.7bR34.6b14.4x13.3x0.8x
Fri, 31 May 2024R395.9bR587.7bR34.6b12.7x11.4x0.7x
Sun, 28 Apr 2024R384.4bR587.7bR34.6b11.9x11.1x0.7x
Tue, 26 Mar 2024R402.3bR599.8bR34.4b12.3x11.7x0.7x
Thu, 22 Feb 2024R425.8bR560.1bR33.8b12.4x12.6x0.8x
Sat, 20 Jan 2024R421.9bR560.1bR33.8b11.8x12.5x0.8x
Mon, 18 Dec 2023R434.0bR560.1bR33.8b11.6x12.9x0.8x
Wed, 15 Nov 2023R421.6bR560.1bR33.8b11.5x12.5x0.8x
Fri, 13 Oct 2023R420.3bR560.1bR33.8b12.1x12.4x0.8x
Sun, 10 Sep 2023R426.9bR466.5bR34.5b12.8x12.4x0.9x
Tue, 08 Aug 2023R423.0bR386.2bR33.7b12.7x12.6x1.1x
Thu, 06 Jul 2023R393.7bR386.2bR33.7b11.6x11.7x1x
Sat, 03 Jun 2023R358.2bR386.2bR33.7b9.9x10.6x0.9x
Mon, 01 May 2023R375.4bR386.2bR33.7b10.3x11.2x1x
Wed, 29 Mar 2023R379.8bR393.3bR33.7b10.4x11.3x1x
Fri, 24 Feb 2023R393.4bR463.2bR33.4b10.5x11.8x0.8x
Sun, 22 Jan 2023R367.4bR463.2bR33.4b9.6x11x0.8x
Tue, 20 Dec 2022R337.1bR463.2bR33.4b8.8x10.1x0.7x
Thu, 17 Nov 2022R339.4bR463.2bR33.4b9.6x10.2x0.7x
Sat, 15 Oct 2022R315.2bR463.2bR33.4b8.8x9.4x0.7x
Mon, 12 Sep 2022R333.6bR526.4bR30.9b12x10.8x0.6x
Wed, 10 Aug 2022R351.6bR734.3bR26.3b12.2x13.3x0.5x
Fri, 08 Jul 2022R337.2bR734.3bR26.3b11.3x12.8x0.5x
Price to Earnings Ratio

12.8x


Total Market Cap: R337.2bTotal Earnings: R26.3bTotal Revenue: R734.3bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Insurance Industry Price to Earnings3Y Average 12x202320242025
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 12.0x.
  • The 3-year average PS ratio of 0.86x is lower than the industry's current PS ratio of 1.1x.
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 9.8% 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 Market2.17%
Financials3.50%
Insurance2.07%
Life and Health Insurance2.22%
Property and Casualty Insurance1.69%
Insurance Brokers0%0
General Insurance0%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 16.8x.
    • Analysts are expecting annual earnings growth of 10.9%, which is lower than the prior year's growth of 33.9% 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 11% over the next 5 years.
  • However this is lower than its past earnings growth rate of 34% per year.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 9.9% 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
SLM SanlamR88.672.0%
+R3.6b		7.3%PE9.7x
DSY DiscoveryR214.801.9%
+R2.6b		53.4%PE17.5x
SNT SantamR428.004.2%
+R1.9b		27.0%PE12.7x
OMU Old MutualR12.073.2%
+R1.6b		-4.2%PE6.7x
MTM Momentum GroupR34.293.0%
+R1.3b		46.0%PE8.7x

Latest News

DSY
R214.80
Discovery
7D
1.9%
1Y
53.4%
OMU
R12.07
Old Mutual
7D
3.2%
1Y
-4.2%

Old Mutual Limited's (JSE:OMU) Popularity With Investors Is Under Threat From Overpricing

Jun 25
Old Mutual Limited's (JSE:OMU) Popularity With Investors Is Under Threat From Overpricing
SLM
R88.67
Sanlam
7D
2.0%
1Y
7.3%

Subdued Growth No Barrier To Sanlam Limited's (JSE:SLM) Price

Jun 21
Subdued Growth No Barrier To Sanlam Limited's (JSE:SLM) Price
OUT
R78.33
OUTsurance Group
7D
0.7%
1Y
70.5%
SNT
R428.00
Santam
7D
4.2%
1Y
27.0%
CLI
R12.50
Clientèle
7D
4.2%
1Y
13.6%
MTM
R34.29
Momentum Group
7D
3.0%
1Y
46.0%

Momentum Group Limited's (JSE:MTM) Shareholders Might Be Looking For Exit

May 05
Momentum Group Limited's (JSE:MTM) Shareholders Might Be Looking For Exit