South African (JSE) Insurance Industry Analysis

UpdatedJul 28, 2026

DataAggregated Company Financials

Companies6

7D0.6%
3M2.7%
1Y7.8%
YTD0.1%

Over the last 7 days, the Insurance industry has dropped 1.6%, driven by a pullback from Sanlam of 1.1%. Over the past 12 months, the industry was up 6.4%. Looking forward, 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
Tue, 28 Jul 2026	R629.4b	R620.3b	R50.0b	11x	12.6x	1x
Thu, 25 Jun 2026	R658.4b	R625.3b	R50.9b	10.9x	12.9x	1.1x
Sat, 23 May 2026	R617.3b	R625.3b	R50.9b	10.6x	12.1x	1x
Mon, 20 Apr 2026	R634.3b	R625.3b	R50.9b	11.1x	12.5x	1x
Wed, 18 Mar 2026	R626.8b	R613.5b	R48.9b	11x	12.8x	1x
Fri, 13 Feb 2026	R664.5b	R582.0b	R51.2b	10.9x	13x	1.1x
Sun, 11 Jan 2026	R641.9b	R582.0b	R51.2b	10.9x	12.5x	1.1x
Tue, 09 Dec 2025	R623.2b	R582.0b	R51.2b	10.3x	12.2x	1.1x
Thu, 06 Nov 2025	R602.3b	R582.0b	R51.2b	9.8x	11.8x	1x
Sat, 04 Oct 2025	R576.3b	R582.0b	R51.2b	9.1x	11.3x	1x
Mon, 01 Sep 2025	R611.8b	R538.6b	R48.6b	10x	12.6x	1.1x
Wed, 30 Jul 2025	R589.3b	R538.6b	R48.6b	9.5x	12.1x	1.1x
Fri, 27 Jun 2025	R586.3b	R538.6b	R48.6b	9.6x	12.1x	1.1x
Sun, 25 May 2025	R581.7b	R538.6b	R48.6b	9.4x	12x	1.1x
Tue, 22 Apr 2025	R540.3b	R538.6b	R48.6b	8.9x	11.1x	1x
Thu, 20 Mar 2025	R551.8b	R534.6b	R47.4b	10.4x	11.6x	1x
Sat, 15 Feb 2025	R542.4b	R499.5b	R42.9b	12.4x	12.6x	1.1x
Mon, 13 Jan 2025	R537.9b	R499.5b	R42.9b	12.3x	12.5x	1.1x
Wed, 11 Dec 2024	R570.5b	R499.5b	R42.9b	12.7x	13.3x	1.1x
Fri, 08 Nov 2024	R539.8b	R499.5b	R42.9b	12.5x	12.6x	1.1x
Sun, 06 Oct 2024	R526.6b	R499.5b	R42.9b	13.2x	12.3x	1.1x
Tue, 03 Sep 2024	R487.3b	R590.1b	R35.1b	13.3x	13.9x	0.8x
Thu, 01 Aug 2024	R466.9b	R587.7b	R34.6b	14.3x	13.5x	0.8x
Sat, 29 Jun 2024	R452.4b	R587.7b	R34.6b	14.4x	13.1x	0.8x
Mon, 27 May 2024	R413.1b	R587.7b	R34.6b	13.1x	11.9x	0.7x
Wed, 24 Apr 2024	R377.2b	R587.7b	R34.6b	11.5x	10.9x	0.6x
Fri, 22 Mar 2024	R406.2b	R597.5b	R34.4b	12.4x	11.8x	0.7x
Sun, 18 Feb 2024	R422.3b	R560.1b	R33.8b	12.2x	12.5x	0.8x
Tue, 16 Jan 2024	R425.1b	R560.1b	R33.8b	11.8x	12.6x	0.8x
Thu, 14 Dec 2023	R420.5b	R560.1b	R33.8b	11.4x	12.5x	0.8x
Sat, 11 Nov 2023	R415.2b	R560.1b	R33.8b	11.4x	12.3x	0.7x
Mon, 09 Oct 2023	R408.8b	R560.1b	R33.8b	11.6x	12.1x	0.7x
Wed, 06 Sep 2023	R429.3b	R383.4b	R34.4b	12.8x	12.5x	1.1x
Fri, 04 Aug 2023	R418.4b	R386.2b	R33.7b	12.5x	12.4x	1.1x

Price to Earnings Ratio

12.4x

Fri, 04 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	0.63%
Financials	0.24%
Insurance	0.62%
Property and Casualty Insurance	1.25%
Life and Health Insurance	0.39%
Insurance Brokers	0%	0
General Insurance	0%	0

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.