South African (JSE) Insurance Industry Analysis

UpdatedJul 22, 2026

DataAggregated Company Financials

Companies6

7D-1.4%
3M1.4%
1Y6.2%
YTD-0.5%

Over the last 7 days, the Insurance industry has dropped 1.4%, driven by Sanlam declining 1.9%. Over the past 12 months, the industry was up 6.2%. As for the next few years, earnings are expected to grow by 11% 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
Wed, 22 Jul 2026	R625.5b	R620.3b	R50.0b	11.1x	12.5x	1x
Fri, 19 Jun 2026	R657.5b	R625.3b	R50.9b	10.8x	12.9x	1.1x
Sun, 17 May 2026	R616.0b	R625.3b	R50.9b	10.6x	12.1x	1x
Tue, 14 Apr 2026	R620.2b	R625.3b	R50.9b	10.7x	12.2x	1x
Thu, 12 Mar 2026	R646.4b	R589.7b	R52.3b	10.2x	12.4x	1.1x
Sat, 07 Feb 2026	R655.6b	R582.0b	R51.2b	10.7x	12.8x	1.1x
Mon, 05 Jan 2026	R637.5b	R582.0b	R51.2b	10.6x	12.5x	1.1x
Wed, 03 Dec 2025	R616.0b	R582.0b	R51.2b	9.9x	12x	1.1x
Fri, 31 Oct 2025	R606.7b	R582.0b	R51.2b	9.7x	11.9x	1x
Sun, 28 Sep 2025	R562.7b	R582.0b	R51.2b	8.8x	11x	1x
Tue, 26 Aug 2025	R605.4b	R538.6b	R48.6b	9.9x	12.5x	1.1x
Thu, 24 Jul 2025	R594.0b	R538.6b	R48.6b	9.6x	12.2x	1.1x
Sat, 21 Jun 2025	R596.8b	R538.6b	R48.6b	9.7x	12.3x	1.1x
Mon, 19 May 2025	R587.3b	R538.6b	R48.6b	9.6x	12.1x	1.1x
Wed, 16 Apr 2025	R537.1b	R538.6b	R48.6b	8.8x	11x	1x
Fri, 14 Mar 2025	R535.8b	R531.2b	R47.6b	10x	11.3x	1x
Sun, 09 Feb 2025	R538.6b	R499.5b	R42.9b	13.2x	12.5x	1.1x
Tue, 07 Jan 2025	R554.8b	R499.5b	R42.9b	12.1x	12.9x	1.1x
Thu, 05 Dec 2024	R562.9b	R499.5b	R42.9b	13.2x	13.1x	1.1x
Sat, 02 Nov 2024	R533.0b	R499.5b	R42.9b	12.4x	12.4x	1.1x
Mon, 30 Sep 2024	R540.5b	R499.5b	R42.9b	12.7x	12.6x	1.1x
Wed, 28 Aug 2024	R486.5b	R587.7b	R34.6b	15.2x	14x	0.8x
Fri, 26 Jul 2024	R447.8b	R587.7b	R34.6b	13.9x	12.9x	0.8x
Sun, 23 Jun 2024	R450.1b	R587.7b	R34.6b	14x	13x	0.8x
Tue, 21 May 2024	R414.0b	R587.7b	R34.6b	13.2x	12x	0.7x
Thu, 18 Apr 2024	R374.2b	R587.7b	R34.6b	11.4x	10.8x	0.6x
Sat, 16 Mar 2024	R411.0b	R591.7b	R33.9b	12.6x	12.1x	0.7x
Mon, 12 Feb 2024	R423.3b	R560.1b	R33.8b	12.3x	12.5x	0.8x
Wed, 10 Jan 2024	R425.0b	R560.1b	R33.8b	11.8x	12.6x	0.8x
Fri, 08 Dec 2023	R414.2b	R560.1b	R33.8b	11.6x	12.3x	0.7x
Sun, 05 Nov 2023	R421.6b	R560.1b	R33.8b	11.8x	12.5x	0.8x
Tue, 03 Oct 2023	R414.4b	R560.1b	R33.8b	12.3x	12.3x	0.7x
Thu, 31 Aug 2023	R424.4b	R386.2b	R33.7b	12.8x	12.6x	1.1x
Sat, 29 Jul 2023	R426.7b	R386.2b	R33.7b	12.8x	12.7x	1.1x

Price to Earnings Ratio

12.7x

Sat, 29 Jul 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	-1.27%
Financials	-0.22%
Insurance	-1.40%
Insurance Brokers	0%	0
General Insurance	0%	0
Life and Health Insurance	-1.39%
Property and Casualty Insurance	-1.41%

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.