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 Apr 2024	R375.0b	R587.7b	R34.6b	11.6x	10.8x	0.6x
Sun, 24 Mar 2024	R407.9b	R599.8b	R34.4b	12.4x	11.9x	0.7x
Tue, 20 Feb 2024	R426.0b	R560.1b	R33.8b	12.3x	12.6x	0.8x
Thu, 18 Jan 2024	R418.0b	R560.1b	R33.8b	11.7x	12.4x	0.7x
Sat, 16 Dec 2023	R434.0b	R560.1b	R33.8b	11.6x	12.9x	0.8x
Mon, 13 Nov 2023	R415.2b	R560.1b	R33.8b	11.4x	12.3x	0.7x
Wed, 11 Oct 2023	R417.0b	R560.1b	R33.8b	11.4x	12.3x	0.7x
Fri, 08 Sep 2023	R420.5b	R383.4b	R34.4b	12.7x	12.2x	1.1x
Sun, 06 Aug 2023	R424.9b	R386.2b	R33.7b	12.8x	12.6x	1.1x
Tue, 04 Jul 2023	R389.3b	R386.2b	R33.7b	11.3x	11.6x	1x
Thu, 01 Jun 2023	R344.5b	R386.2b	R33.7b	9.5x	10.2x	0.9x
Sat, 29 Apr 2023	R375.4b	R386.2b	R33.7b	10.3x	11.2x	1x
Mon, 27 Mar 2023	R367.1b	R393.2b	R33.7b	10x	10.9x	0.9x
Wed, 22 Feb 2023	R390.6b	R463.2b	R33.4b	10.4x	11.7x	0.8x
Fri, 20 Jan 2023	R368.9b	R463.2b	R33.4b	9.6x	11x	0.8x
Sun, 18 Dec 2022	R328.0b	R463.2b	R33.4b	8.5x	9.8x	0.7x
Tue, 15 Nov 2022	R343.9b	R463.2b	R33.4b	9.8x	10.3x	0.7x
Thu, 13 Oct 2022	R310.8b	R463.2b	R33.4b	8.8x	9.3x	0.7x
Sat, 10 Sep 2022	R333.6b	R526.4b	R30.9b	12x	10.8x	0.6x
Mon, 08 Aug 2022	R347.9b	R734.3b	R26.3b	12.1x	13.2x	0.5x
Wed, 06 Jul 2022	R332.7b	R734.3b	R26.3b	11.1x	12.6x	0.5x
Fri, 03 Jun 2022	R389.5b	R734.3b	R26.3b	14.3x	14.8x	0.5x
Sun, 01 May 2022	R396.5b	R734.3b	R26.3b	14.2x	15.1x	0.5x
Tue, 29 Mar 2022	R487.7b	R816.6b	R27.2b	20.3x	17.9x	0.6x
Thu, 24 Feb 2022	R466.9b	R721.1b	R22.8b	23.6x	20.5x	0.6x
Sat, 22 Jan 2022	R445.7b	R721.1b	R22.8b	22.4x	19.5x	0.6x
Mon, 20 Dec 2021	R421.5b	R721.1b	R22.8b	22x	18.5x	0.6x
Wed, 17 Nov 2021	R431.7b	R721.1b	R22.8b	20.9x	18.9x	0.6x
Fri, 15 Oct 2021	R432.8b	R720.9b	R22.7b	20.8x	19.1x	0.6x
Sun, 12 Sep 2021	R406.8b	R719.5b	R21.3b	22.3x	19.1x	0.6x
Tue, 10 Aug 2021	R395.0b	R719.9b	R21.2b	20.6x	18.6x	0.5x
Mon, 03 May 2021	R382.5b	R609.4b	R9.5b	29.2x	40.3x	0.6x

Current Industry PE

Investors are pessimistic on the South African Insurance industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 10.8x which is lower than its 3-year average PE of 15.5x.

The industry is trading close to its 3-year average PS ratio of 0.71x.

Past Earnings Growth

The earnings for companies in the Insurance industry have grown 54% per year over the last three years, while revenues have remained mostly flat.
This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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


ZA Market	-0.35%
Financials	2.18%
Insurance	0.16%
Life and Health Insurance	0.47%
Insurance Brokers	0%
General Insurance	0%
Reinsurance	0%
Property and Casualty Insurance	-0.76%

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 16.7x.

Analysts are expecting annual earnings growth of 11.2%, 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 15.2x.

Forecasted Growth

Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 15% over the next 5 years.
This is better than its past earnings decline of 2.6% per year.