South African (JSE) Insurance Industry Analysis

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
Fri, 26 Jul 2024	R447.8b	R587.7b	R34.6b	13.9x	12.9x	0.8x
Sun, 23 Jun 2024	R450.1b	R587.7b	R34.6b	14x	13x	0.8x
Tue, 21 May 2024	R414.0b	R587.7b	R34.6b	13.2x	12x	0.7x
Thu, 18 Apr 2024	R374.2b	R587.7b	R34.6b	11.4x	10.8x	0.6x
Sat, 16 Mar 2024	R411.0b	R591.7b	R33.9b	12.6x	12.1x	0.7x
Mon, 12 Feb 2024	R423.3b	R560.1b	R33.8b	12.3x	12.5x	0.8x
Wed, 10 Jan 2024	R425.0b	R560.1b	R33.8b	11.8x	12.6x	0.8x
Fri, 08 Dec 2023	R414.2b	R560.1b	R33.8b	11.6x	12.3x	0.7x
Sun, 05 Nov 2023	R421.6b	R560.1b	R33.8b	11.8x	12.5x	0.8x
Tue, 03 Oct 2023	R414.4b	R560.1b	R33.8b	12.3x	12.3x	0.7x
Thu, 31 Aug 2023	R424.4b	R386.2b	R33.7b	12.8x	12.6x	1.1x
Sat, 29 Jul 2023	R426.7b	R386.2b	R33.7b	12.8x	12.7x	1.1x
Mon, 26 Jun 2023	R385.4b	R386.2b	R33.7b	11.2x	11.4x	1x
Wed, 24 May 2023	R352.1b	R386.2b	R33.7b	9.6x	10.5x	0.9x
Fri, 21 Apr 2023	R376.4b	R386.2b	R33.7b	10.3x	11.2x	1x
Sun, 19 Mar 2023	R366.0b	R391.5b	R32.6b	9.9x	11.2x	0.9x
Tue, 14 Feb 2023	R386.9b	R463.2b	R33.4b	10.3x	11.6x	0.8x
Thu, 12 Jan 2023	R360.2b	R463.2b	R33.4b	9.4x	10.8x	0.8x
Sat, 10 Dec 2022	R332.1b	R463.2b	R33.4b	8.7x	9.9x	0.7x
Mon, 07 Nov 2022	R340.6b	R463.2b	R33.4b	9.7x	10.2x	0.7x
Wed, 05 Oct 2022	R324.8b	R463.2b	R33.4b	9.4x	9.7x	0.7x
Fri, 02 Sep 2022	R336.4b	R622.7b	R28.6b	11.6x	11.8x	0.5x
Sun, 31 Jul 2022	R344.1b	R734.3b	R26.3b	11.8x	13.1x	0.5x
Tue, 28 Jun 2022	R354.2b	R734.3b	R26.3b	11.9x	13.4x	0.5x
Thu, 26 May 2022	R373.5b	R734.3b	R26.3b	13.8x	14.2x	0.5x
Sat, 23 Apr 2022	R409.4b	R734.3b	R26.3b	15x	15.5x	0.6x
Mon, 21 Mar 2022	R481.6b	R780.5b	R27.8b	19.5x	17.3x	0.6x
Wed, 16 Feb 2022	R475.2b	R721.1b	R22.8b	23.4x	20.8x	0.7x
Fri, 14 Jan 2022	R454.8b	R721.1b	R22.8b	23x	19.9x	0.6x
Sun, 12 Dec 2021	R417.8b	R721.1b	R22.8b	21.7x	18.3x	0.6x
Tue, 09 Nov 2021	R434.1b	R721.1b	R22.8b	20.9x	19x	0.6x
Thu, 07 Oct 2021	R446.0b	R720.9b	R22.7b	21.2x	19.7x	0.6x
Sat, 04 Sep 2021	R416.8b	R719.9b	R21.2b	22.7x	19.6x	0.6x
Mon, 02 Aug 2021	R388.2b	R719.9b	R21.2b	20.4x	18.3x	0.5x

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 13.7x.

The industry is trading close to its 3-year average PS ratio of 0.72x.

Past Earnings Growth

The earnings for companies in the Insurance industry have grown 18% per year over the last three years.
Meanwhile revenues for these companies have declined 6.5% 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 Market	1.28%
Financials	2.49%
Insurance	-0.65%
Insurance Brokers	0%
General Insurance	0%
Reinsurance	0%
Life and Health Insurance	-0.24%
Property and Casualty Insurance	-1.94%

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 11.4%, which is lower than the prior year's growth of 35.5% per year.

Investors are most pessimistic about the Life and Health Insurance industry, which is trading below its 3-year average of 13.3x.

Forecasted Growth

Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 14% over the next 5 years.
This is better than its past earnings decline of 2.6% per year.