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South African (JSE) Insurance Industry Analysis

UpdatedAug 31, 2026
DataAggregated Company Financials
Companies6
  • 7D5.2%
  • 3M6.8%
  • 1Y6.7%
  • YTD2.8%

Over the last 7 days, the Insurance industry has risen 5.2%, driven by gains from every company within the industry. This means that the industry has gained 6.7% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 01 Sep 2026R646.3bR620.3bR50.0b11.5x12.9x1x
Thu, 30 Jul 2026R632.8bR620.3bR50.0b11x12.6x1x
Sat, 27 Jun 2026R646.2bR625.3bR50.9b10.9x12.7x1x
Mon, 25 May 2026R617.3bR625.3bR50.9b10.6x12.1x1x
Wed, 22 Apr 2026R627.0bR625.3bR50.9b10.9x12.3x1x
Fri, 20 Mar 2026R618.5bR623.8bR50.8b10.9x12.2x1x
Sun, 15 Feb 2026R653.4bR582.0bR51.2b10.8x12.8x1.1x
Tue, 13 Jan 2026R632.2bR582.0bR51.2b10.7x12.4x1.1x
Thu, 11 Dec 2025R627.6bR582.0bR51.2b10.4x12.3x1.1x
Sat, 08 Nov 2025R600.6bR582.0bR51.2b9.7x11.7x1x
Mon, 06 Oct 2025R576.3bR582.0bR51.2b9.1x11.3x1x
Wed, 03 Sep 2025R592.8bR541.2bR48.9b9.6x12.1x1.1x
Fri, 01 Aug 2025R598.7bR538.6bR48.6b9.6x12.3x1.1x
Sun, 29 Jun 2025R592.3bR538.6bR48.6b9.7x12.2x1.1x
Tue, 27 May 2025R587.4bR538.6bR48.6b9.6x12.1x1.1x
Thu, 24 Apr 2025R549.9bR538.6bR48.6b8.9x11.3x1x
Sat, 22 Mar 2025R560.1bR538.6bR48.6b9.4x11.5x1x
Mon, 17 Feb 2025R542.4bR499.5bR42.9b12.4x12.6x1.1x
Wed, 15 Jan 2025R533.4bR499.5bR42.9b13.1x12.4x1.1x
Fri, 13 Dec 2024R565.7bR499.5bR42.9b12.8x13.2x1.1x
Sun, 10 Nov 2024R539.9bR499.5bR42.9b12.5x12.6x1.1x
Tue, 08 Oct 2024R525.3bR499.5bR42.9b13.2x12.2x1.1x
Thu, 05 Sep 2024R486.1bR590.1bR35.1b13.3x13.9x0.8x
Sat, 03 Aug 2024R453.0bR587.7bR34.6b13.9x13.1x0.8x
Mon, 01 Jul 2024R452.4bR587.7bR34.6b14.4x13.1x0.8x
Wed, 29 May 2024R409.5bR587.7bR34.6b13x11.8x0.7x
Fri, 26 Apr 2024R375.0bR587.7bR34.6b11.6x10.8x0.6x
Sun, 24 Mar 2024R407.9bR599.8bR34.4b12.4x11.9x0.7x
Tue, 20 Feb 2024R426.0bR560.1bR33.8b12.3x12.6x0.8x
Thu, 18 Jan 2024R418.0bR560.1bR33.8b11.7x12.4x0.7x
Sat, 16 Dec 2023R434.0bR560.1bR33.8b11.6x12.9x0.8x
Mon, 13 Nov 2023R415.2bR560.1bR33.8b11.4x12.3x0.7x
Wed, 11 Oct 2023R417.0bR560.1bR33.8b11.4x12.3x0.7x
Fri, 08 Sep 2023R420.5bR383.4bR34.4b12.7x12.2x1.1x
Price to Earnings Ratio

12.2x


Total Market Cap: R420.5bTotal Earnings: R34.4bTotal Revenue: R383.4bTotal 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 13% 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 Market0.36%
Financials1.04%
Insurance5.22%
Property and Casualty Insurance11.23%
Life and Health Insurance2.97%
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 18.5x.
    • Analysts are expecting annual earnings growth of 11.3%, 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 11% over the next 5 years.
  • However this is lower than its past earnings growth rate of 15% per year.
  • 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 GroupR87.459.0%
+R11.1b		17.3%PE27.1x
DSY DiscoveryR258.274.6%
+R7.7b		21.6%PE16.4x
OMU Old MutualR13.042.8%
+R1.5b		-3.5%PE6.5x
SNT SantamR414.993.3%
+R1.5b		-2.9%PE11.2x
MTM Momentum GroupR40.191.7%
+R881.6m		17.9%PE8.5x

Latest News

DSY
R258.27
Discovery
7D
4.6%
1Y
21.6%
Analysis Article • Aug 29

Here's Why Discovery (JSE:DSY) Has Caught The Eye Of Investors

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
OUT
R87.45
OUTsurance Group
7D
9.0%
1Y
17.3%
SLM
R86.66
Sanlam
7D
-0.2%
1Y
-0.6%
MTM
R40.19
Momentum Group
7D
1.7%
1Y
17.9%
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...
SNT
R414.99
Santam
7D
3.3%
1Y
-2.9%
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.
OMU
R13.04
Old Mutual
7D
2.8%
1Y
-3.5%