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South African (JSE) Insurance Industry Analysis
UpdatedMar 05, 2026
DataAggregated Company Financials
Companies7
- 7D-1.8%
- 3M7.0%
- 1Y18.6%
- YTD4.0%
Over the last 7 days, the Insurance industry has dropped 1.8%, driven by Sanlam declining 4.6%. Meanwhile, Discovery actually outperformed within the industry, gaining 5.9% in the last week. This takes the industry's 12 month performance to a gain of 19%. As for the next few years, earnings are expected to grow by 9.3% per annum.
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 |
|---|---|---|---|---|---|---|
| Thu, 05 Mar 2026 | R663.1b | R585.8b | R52.2b | 10.7x | 12.7x | 1.1x |
| Sat, 31 Jan 2026 | R648.2b | R582.0b | R51.2b | 10.8x | 12.7x | 1.1x |
| Mon, 29 Dec 2025 | R637.4b | R582.0b | R51.2b | 10.5x | 12.5x | 1.1x |
| Wed, 26 Nov 2025 | R616.1b | R582.0b | R51.2b | 9.9x | 12x | 1.1x |
| Fri, 24 Oct 2025 | R616.6b | R582.0b | R51.2b | 10x | 12x | 1.1x |
| Sun, 21 Sep 2025 | R589.4b | R582.0b | R51.2b | 9.2x | 11.5x | 1x |
| Tue, 19 Aug 2025 | R591.6b | R538.6b | R48.6b | 9.6x | 12.2x | 1.1x |
| Thu, 17 Jul 2025 | R588.0b | R538.6b | R48.6b | 9.5x | 12.1x | 1.1x |
| Sat, 14 Jun 2025 | R596.5b | R538.6b | R48.6b | 9.5x | 12.3x | 1.1x |
| Mon, 12 May 2025 | R582.7b | R538.6b | R48.6b | 9.4x | 12x | 1.1x |
| Wed, 09 Apr 2025 | R517.3b | R538.6b | R48.6b | 8.2x | 10.6x | 1x |
| Fri, 07 Mar 2025 | R550.8b | R532.0b | R47.0b | 11.7x | 11.7x | 1x |
| Sun, 02 Feb 2025 | R523.6b | R499.5b | R42.9b | 12.7x | 12.2x | 1x |
| Tue, 31 Dec 2024 | R552.3b | R499.5b | R42.9b | 12.7x | 12.9x | 1.1x |
| Thu, 28 Nov 2024 | R553.3b | R499.5b | R42.9b | 13.7x | 12.9x | 1.1x |
| Sat, 26 Oct 2024 | R527.2b | R499.5b | R42.9b | 12.3x | 12.3x | 1.1x |
| Mon, 23 Sep 2024 | R518.7b | R568.8b | R42.7b | 12.1x | 12.2x | 0.9x |
| Wed, 21 Aug 2024 | R480.7b | R587.7b | R34.6b | 15x | 13.9x | 0.8x |
| Fri, 19 Jul 2024 | R450.8b | R587.7b | R34.6b | 14.1x | 13x | 0.8x |
| Sun, 16 Jun 2024 | R425.8b | R587.7b | R34.6b | 13x | 12.3x | 0.7x |
| Tue, 14 May 2024 | R403.8b | R587.7b | R34.6b | 12.6x | 11.7x | 0.7x |
| Thu, 11 Apr 2024 | R391.0b | R587.7b | R34.6b | 11.9x | 11.3x | 0.7x |
| Sat, 09 Mar 2024 | R427.4b | R573.3b | R33.6b | 13.4x | 12.7x | 0.7x |
| Mon, 05 Feb 2024 | R424.8b | R560.1b | R33.8b | 11.9x | 12.6x | 0.8x |
| Wed, 03 Jan 2024 | R434.3b | R560.1b | R33.8b | 11.8x | 12.9x | 0.8x |
| Fri, 01 Dec 2023 | R410.3b | R560.1b | R33.8b | 12x | 12.2x | 0.7x |
| Sun, 29 Oct 2023 | R395.1b | R560.1b | R33.8b | 11.3x | 11.7x | 0.7x |
| Tue, 26 Sep 2023 | R426.5b | R550.6b | R34.2b | 12.3x | 12.5x | 0.8x |
| Thu, 24 Aug 2023 | R413.4b | R386.2b | R33.7b | 12.4x | 12.3x | 1.1x |
| Sat, 22 Jul 2023 | R412.8b | R386.2b | R33.7b | 12.2x | 12.3x | 1.1x |
| Mon, 19 Jun 2023 | R391.4b | R386.2b | R33.7b | 11.1x | 11.6x | 1x |
| Wed, 17 May 2023 | R350.4b | R386.2b | R33.7b | 9.6x | 10.4x | 0.9x |
| Fri, 14 Apr 2023 | R375.7b | R386.2b | R33.7b | 10.3x | 11.2x | 1x |
| Sun, 12 Mar 2023 | R393.0b | R412.8b | R34.2b | 10.9x | 11.5x | 1x |
Price to Earnings Ratio
11.5x
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 3-year average PS ratio of 0.95x 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 12% 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 | -4.00% | |
| Financials | -3.45% | |
| Insurance | -1.84% | |
| Insurance Brokers | 0% | 0 |
| General Insurance | 0% | 0 |
| Life and Health Insurance | -1.18% | |
| Property and Casualty Insurance | -3.90% | |
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 10.9%, 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 11% 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 8.8% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| DSY Discovery | R258.12 | 5.9% +R11.2b | 24.8% | PE16.4x | |
| CLI Clientèle | R16.00 | 1.0% +R72.5m | 25.0% | PE8.8x |
