Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

South African (JSE) Insurance Industry Analysis

UpdatedJan 27, 2026
DataAggregated Company Financials
Companies7
  • 7D2.9%
  • 3M4.4%
  • 1Y24.9%
  • YTD1.8%

All of the companies in the Insurance industry have been up over the last week, with the industry up 2.9%. This means that the industry has gained 25% over the past year. Looking forward, earnings are forecast to grow by 9.4% annually.

Industry Valuation and Performance

Has the South African Insurance Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026R647.6bR582.0bR51.2b11.1x12.7x1.1x
Fri, 26 Dec 2025R637.4bR582.0bR51.2b10.5x12.5x1.1x
Sun, 23 Nov 2025R611.7bR582.0bR51.2b9.8x12x1.1x
Tue, 21 Oct 2025R600.0bR582.0bR51.2b9.7x11.7x1x
Thu, 18 Sep 2025R589.9bR582.2bR51.2b9.2x11.5x1x
Sat, 16 Aug 2025R594.1bR538.6bR48.6b9.7x12.2x1.1x
Mon, 14 Jul 2025R584.0bR538.6bR48.6b9.5x12x1.1x
Wed, 11 Jun 2025R611.7bR538.6bR48.6b9.9x12.6x1.1x
Fri, 09 May 2025R571.4bR538.6bR48.6b9.2x11.8x1.1x
Sun, 06 Apr 2025R496.9bR538.6bR48.6b7.8x10.2x0.9x
Tue, 04 Mar 2025R567.6bR499.5bR42.9b13x13.2x1.1x
Thu, 30 Jan 2025R526.9bR499.5bR42.9b12.5x12.3x1.1x
Sat, 28 Dec 2024R555.0bR499.5bR42.9b12.2x12.9x1.1x
Mon, 25 Nov 2024R562.6bR499.5bR42.9b12.5x13.1x1.1x
Wed, 23 Oct 2024R526.8bR499.5bR42.9b12x12.3x1.1x
Fri, 20 Sep 2024R510.7bR581.8bR40.8b10.7x12.5x0.9x
Sun, 18 Aug 2024R481.3bR587.7bR34.6b15.1x13.9x0.8x
Tue, 16 Jul 2024R461.3bR587.7bR34.6b14.5x13.3x0.8x
Thu, 13 Jun 2024R399.0bR587.7bR34.6b12.7x11.5x0.7x
Sat, 11 May 2024R401.8bR587.7bR34.6b12.6x11.6x0.7x
Mon, 08 Apr 2024R389.3bR587.7bR34.6b11.5x11.2x0.7x
Wed, 06 Mar 2024R425.4bR573.3bR33.6b13.3x12.7x0.7x
Fri, 02 Feb 2024R430.5bR560.1bR33.8b12x12.7x0.8x
Sun, 31 Dec 2023R437.8bR560.1bR33.8b11.8x13x0.8x
Tue, 28 Nov 2023R422.0bR560.1bR33.8b11.7x12.5x0.8x
Thu, 26 Oct 2023R407.9bR560.1bR33.8b11.3x12.1x0.7x
Sat, 23 Sep 2023R426.5bR550.6bR34.3b12.3x12.4x0.8x
Mon, 21 Aug 2023R407.3bR386.2bR33.7b12.1x12.1x1.1x
Wed, 19 Jul 2023R410.9bR386.2bR33.7b12.3x12.2x1.1x
Fri, 16 Jun 2023R391.4bR386.2bR33.7b11.1x11.6x1x
Sun, 14 May 2023R354.8bR386.2bR33.7b9.7x10.5x0.9x
Tue, 11 Apr 2023R377.5bR386.2bR33.7b10.3x11.2x1x
Thu, 09 Mar 2023R394.4bR464.8bR32.8b10.5x12x0.8x
Sat, 04 Feb 2023R390.0bR463.2bR33.4b10.6x11.7x0.8x
Price to Earnings Ratio

11.7x


Total Market Cap: R390.0bTotal Earnings: R33.4bTotal Revenue: R463.2bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Insurance Industry Price to Earnings3Y Average 12.1x202420252026
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 12.1x.
  • The 3-year average PS ratio of 0.94x is lower than the industry's current PS ratio of 1.1x.
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 7.9% 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 Market3.77%
Financials1.94%
Insurance2.94%
Life and Health Insurance3.17%
Property and Casualty Insurance2.21%
Insurance Brokers0%0
General Insurance0%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 18.2x.
    • Analysts are expecting annual earnings growth of 10.5%, which is lower than the prior year's growth of 25.1% per year.
  • Investors are most pessimistic about the Life and Health Insurance industry, which is trading close to its 3-year average of 11.0x.
Forecasted Growth
  • Analysts are most optimistic on the Property and Casualty Insurance industry, expecting annual earnings growth of 10% over the next 5 years.
  • However this is lower than its past earnings growth rate of 25% per year.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 9.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SLM SanlamR103.675.2%
+R10.7b		28.8%PE11x
DSY DiscoveryR229.951.7%
+R2.5b		28.7%PE16.5x
OMU Old MutualR15.252.6%
+R1.7b		27.5%PE10x
OUT OUTsurance GroupR69.871.4%
+R1.5b		11.1%PE23x
MTM Momentum GroupR38.001.4%
+R668.9m		31.2%PE8.2x

Latest News

DSY
R229.95
Discovery
7D
1.7%
1Y
28.7%

Do Discovery's (JSE:DSY) Earnings Warrant Your Attention?

Jan 26
Do Discovery's (JSE:DSY) Earnings Warrant Your Attention?
OMU
R15.25
Old Mutual
7D
2.6%
1Y
27.5%

Investor Optimism Abounds Old Mutual Limited (JSE:OMU) But Growth Is Lacking

Jan 23
Investor Optimism Abounds Old Mutual Limited (JSE:OMU) But Growth Is Lacking
OUT
R69.87
OUTsurance Group
7D
1.4%
1Y
11.1%

Here's Why We Think OUTsurance Group (JSE:OUT) Is Well Worth Watching

Jan 22
Here's Why We Think OUTsurance Group (JSE:OUT) Is Well Worth Watching
SLM
R103.67
Sanlam
7D
5.2%
1Y
28.8%

What Sanlam Limited's (JSE:SLM) P/E Is Not Telling You

Jan 20
What Sanlam Limited's (JSE:SLM) P/E Is Not Telling You
SNT
R424.50
Santam
7D
1.1%
1Y
15.1%
MTM
R38.00
Momentum Group
7D
1.4%
1Y
31.2%

MTM: Fair Pricing Outlook Will Rely On Stable Margins And P/E Assumptions

Analysts have nudged their price target for Momentum Group from $39.68 to $40.64, citing small refinements in fair value estimates, discount rate assumptions and expected future P/E levels as the key drivers of this change. Valuation Changes Fair Value: The model fair value estimate has been adjusted from ZAR39.68 to ZAR40.64, reflecting a small upward refinement in the valuation output.
CLI
R14.50
Clientèle
7D
3.6%
1Y
15.5%