South African (JSE) Insurance Industry Analysis

UpdatedApr 24, 2026

DataAggregated Company Financials

Companies7

7D-1.7%
3M-2.9%
1Y11.2%
YTD-1.7%

The Insurance industry has stayed flat over the last week. The past year has been better, since the industry has gained 13% in that time. Looking forward, earnings are forecast to grow by 12% 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
Fri, 24 Apr 2026	R623.8b	R625.3b	R50.9b	10.9x	12.3x	1x
Sun, 22 Mar 2026	R613.5b	R625.4b	R50.9b	11.3x	12.1x	1x
Tue, 17 Feb 2026	R664.7b	R582.0b	R51.2b	11x	13x	1.1x
Thu, 15 Jan 2026	R621.4b	R582.0b	R51.2b	10.4x	12.1x	1.1x
Sat, 13 Dec 2025	R621.6b	R582.0b	R51.2b	10.2x	12.1x	1.1x
Mon, 10 Nov 2025	R600.6b	R582.0b	R51.2b	9.7x	11.7x	1x
Wed, 08 Oct 2025	R575.5b	R582.0b	R51.2b	9.1x	11.2x	1x
Fri, 05 Sep 2025	R585.8b	R541.2b	R48.9b	9.1x	12x	1.1x
Sun, 03 Aug 2025	R585.6b	R538.6b	R48.6b	9.5x	12x	1.1x
Tue, 01 Jul 2025	R597.0b	R538.6b	R48.6b	9.7x	12.3x	1.1x
Thu, 29 May 2025	R592.3b	R538.6b	R48.6b	9.6x	12.2x	1.1x
Sat, 26 Apr 2025	R562.7b	R538.6b	R48.6b	9.1x	11.6x	1x
Mon, 24 Mar 2025	R560.1b	R538.6b	R48.6b	9.4x	11.5x	1x
Wed, 19 Feb 2025	R545.0b	R499.5b	R42.9b	12.5x	12.7x	1.1x
Fri, 17 Jan 2025	R542.7b	R499.5b	R42.9b	12.3x	12.6x	1.1x
Sun, 15 Dec 2024	R568.6b	R499.5b	R42.9b	13x	13.2x	1.1x
Tue, 12 Nov 2024	R541.0b	R499.5b	R42.9b	13.2x	12.6x	1.1x
Thu, 10 Oct 2024	R525.3b	R499.5b	R42.9b	12.6x	12.2x	1.1x
Sat, 07 Sep 2024	R487.1b	R577.1b	R40.1b	10.4x	12.1x	0.8x
Mon, 05 Aug 2024	R453.0b	R587.7b	R34.6b	13.9x	13.1x	0.8x
Wed, 03 Jul 2024	R462.0b	R587.7b	R34.6b	14.4x	13.3x	0.8x
Fri, 31 May 2024	R395.9b	R587.7b	R34.6b	12.7x	11.4x	0.7x
Sun, 28 Apr 2024	R384.4b	R587.7b	R34.6b	11.9x	11.1x	0.7x
Tue, 26 Mar 2024	R402.3b	R599.8b	R34.4b	12.3x	11.7x	0.7x
Thu, 22 Feb 2024	R425.8b	R560.1b	R33.8b	12.4x	12.6x	0.8x
Sat, 20 Jan 2024	R421.9b	R560.1b	R33.8b	11.8x	12.5x	0.8x
Mon, 18 Dec 2023	R434.0b	R560.1b	R33.8b	11.6x	12.9x	0.8x
Wed, 15 Nov 2023	R421.6b	R560.1b	R33.8b	11.5x	12.5x	0.8x
Fri, 13 Oct 2023	R420.3b	R560.1b	R33.8b	12.1x	12.4x	0.8x
Sun, 10 Sep 2023	R426.9b	R466.5b	R34.5b	12.8x	12.4x	0.9x
Tue, 08 Aug 2023	R423.0b	R386.2b	R33.7b	12.7x	12.6x	1.1x
Thu, 06 Jul 2023	R393.7b	R386.2b	R33.7b	11.6x	11.7x	1x
Sat, 03 Jun 2023	R358.2b	R386.2b	R33.7b	9.9x	10.6x	0.9x
Mon, 01 May 2023	R375.4b	R386.2b	R33.7b	10.3x	11.2x	1x

Price to Earnings Ratio

11.2x

Mon, 01 May 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 12.2x.

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 15% 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	-3.68%
Financials	-2.24%
Insurance	-1.65%
Insurance Brokers	0%	0
General Insurance	0%	0
Property and Casualty Insurance	-0.51%
Life and Health Insurance	-2.03%

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 18.4x.

Analysts are expecting annual earnings growth of 11.6%, 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 Life and Health Insurance industry, expecting annual earnings growth of 12% over the next 5 years.
This is better than its past earnings growth rate of 9.6% per year.