South African (JSE) Insurance Industry Analysis

UpdatedJul 26, 2026

DataAggregated Company Financials

Companies6

7D-1.6%
3M1.6%
1Y6.4%
YTD-1.0%

Over the last 7 days, the Insurance industry has dropped 1.6%, driven by Sanlam declining 3.3%. Over the past 12 months, the industry was up 6.4%. 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, 26 Jul 2026	R622.3b	R620.3b	R50.0b	10.9x	12.4x	1x
Tue, 23 Jun 2026	R663.3b	R625.3b	R50.9b	10.8x	13x	1.1x
Thu, 21 May 2026	R624.3b	R625.3b	R50.9b	10.7x	12.3x	1x
Sat, 18 Apr 2026	R634.3b	R625.3b	R50.9b	11.1x	12.5x	1x
Mon, 16 Mar 2026	R628.1b	R613.5b	R48.9b	11x	12.8x	1x
Wed, 11 Feb 2026	R666.4b	R582.0b	R51.2b	10.9x	13x	1.1x
Fri, 09 Jan 2026	R643.0b	R582.0b	R51.2b	10.9x	12.6x	1.1x
Sun, 07 Dec 2025	R627.1b	R582.0b	R51.2b	10.3x	12.3x	1.1x
Tue, 04 Nov 2025	R603.2b	R582.0b	R51.2b	9.7x	11.8x	1x
Thu, 02 Oct 2025	R567.7b	R582.0b	R51.2b	8.9x	11.1x	1x
Sat, 30 Aug 2025	R611.8b	R538.6b	R48.6b	10x	12.6x	1.1x
Mon, 28 Jul 2025	R589.8b	R538.6b	R48.6b	9.4x	12.1x	1.1x
Wed, 25 Jun 2025	R599.0b	R538.6b	R48.6b	9.8x	12.3x	1.1x
Fri, 23 May 2025	R579.0b	R538.6b	R48.6b	9.4x	11.9x	1.1x
Sun, 20 Apr 2025	R540.3b	R538.6b	R48.6b	8.9x	11.1x	1x
Tue, 18 Mar 2025	R546.9b	R533.4b	R47.7b	10.4x	11.5x	1x
Thu, 13 Feb 2025	R544.7b	R499.5b	R42.9b	12.5x	12.7x	1.1x
Sat, 11 Jan 2025	R537.9b	R499.5b	R42.9b	12.3x	12.5x	1.1x
Mon, 09 Dec 2024	R572.5b	R499.5b	R42.9b	13.2x	13.3x	1.1x
Wed, 06 Nov 2024	R544.5b	R499.5b	R42.9b	13.2x	12.7x	1.1x
Fri, 04 Oct 2024	R523.6b	R499.5b	R42.9b	13.3x	12.2x	1x
Sun, 01 Sep 2024	R495.4b	R589.3b	R35.1b	13.3x	14.1x	0.8x
Tue, 30 Jul 2024	R452.1b	R587.7b	R34.6b	14x	13.1x	0.8x
Thu, 27 Jun 2024	R445.4b	R587.7b	R34.6b	14.1x	12.9x	0.8x
Sat, 25 May 2024	R413.1b	R587.7b	R34.6b	13.1x	11.9x	0.7x
Mon, 22 Apr 2024	R374.3b	R587.7b	R34.6b	11.5x	10.8x	0.6x
Wed, 20 Mar 2024	R407.1b	R594.5b	R34.3b	12.5x	11.9x	0.7x
Fri, 16 Feb 2024	R422.3b	R560.1b	R33.8b	12.2x	12.5x	0.8x
Sun, 14 Jan 2024	R425.9b	R560.1b	R33.8b	11.6x	12.6x	0.8x
Tue, 12 Dec 2023	R417.1b	R560.1b	R33.8b	11.4x	12.4x	0.7x
Thu, 09 Nov 2023	R414.8b	R560.1b	R33.8b	11.6x	12.3x	0.7x
Sat, 07 Oct 2023	R408.8b	R560.1b	R33.8b	11.6x	12.1x	0.7x
Mon, 04 Sep 2023	R426.4b	R383.4b	R34.4b	12.4x	12.4x	1.1x
Wed, 02 Aug 2023	R425.3b	R386.2b	R33.7b	12.7x	12.6x	1.1x

Price to Earnings Ratio

12.6x

Wed, 02 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	-1.13%
Financials	-1.24%
Insurance	-1.61%
Insurance Brokers	0%	0
General Insurance	0%	0
Property and Casualty Insurance	-1.11%
Life and Health Insurance	-1.79%

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.