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South African (JSE) Insurance Industry Analysis

UpdatedJul 27, 2026
DataAggregated Company Financials
Companies6
  • 7D-1.6%
  • 3M1.6%
  • 1Y6.4%
  • YTD-1.0%

Over the last 7 days, the Insurance industry has dropped 1.6%, driven by a pullback from Sanlam of 3.3%. In the past year, the industry has gained 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Jul 2026R622.3bR620.3bR50.0b10.9x12.4x1x
Wed, 24 Jun 2026R663.4bR625.3bR50.9b10.9x13x1.1x
Fri, 22 May 2026R623.7bR625.3bR50.9b10.7x12.3x1x
Sun, 19 Apr 2026R634.3bR625.3bR50.9b11.1x12.5x1x
Tue, 17 Mar 2026R628.1bR613.5bR48.9b11x12.8x1x
Thu, 12 Feb 2026R661.2bR582.0bR51.2b10.8x12.9x1.1x
Sat, 10 Jan 2026R641.9bR582.0bR51.2b10.9x12.5x1.1x
Mon, 08 Dec 2025R627.1bR582.0bR51.2b10.3x12.3x1.1x
Wed, 05 Nov 2025R597.7bR582.0bR51.2b9.7x11.7x1x
Fri, 03 Oct 2025R566.1bR582.0bR51.2b9x11.1x1x
Sun, 31 Aug 2025R611.8bR538.6bR48.6b10x12.6x1.1x
Tue, 29 Jul 2025R588.6bR538.6bR48.6b9.5x12.1x1.1x
Thu, 26 Jun 2025R593.6bR538.6bR48.6b9.7x12.2x1.1x
Sat, 24 May 2025R581.7bR538.6bR48.6b9.4x12x1.1x
Mon, 21 Apr 2025R540.3bR538.6bR48.6b8.9x11.1x1x
Wed, 19 Mar 2025R545.7bR535.2bR47.4b10.3x11.5x1x
Fri, 14 Feb 2025R541.1bR499.5bR42.9b12.5x12.6x1.1x
Sun, 12 Jan 2025R537.9bR499.5bR42.9b12.3x12.5x1.1x
Tue, 10 Dec 2024R570.8bR499.5bR42.9b13.2x13.3x1.1x
Thu, 07 Nov 2024R536.3bR499.5bR42.9b12.5x12.5x1.1x
Sat, 05 Oct 2024R526.6bR499.5bR42.9b13.2x12.3x1.1x
Mon, 02 Sep 2024R495.4bR590.1bR35.1b13.3x14.1x0.8x
Wed, 31 Jul 2024R456.6bR587.7bR34.6b14.2x13.2x0.8x
Fri, 28 Jun 2024R439.1bR587.7bR34.6b13.9x12.7x0.7x
Sun, 26 May 2024R413.1bR587.7bR34.6b13.1x11.9x0.7x
Tue, 23 Apr 2024R374.3bR587.7bR34.6b11.5x10.8x0.6x
Thu, 21 Mar 2024R406.2bR597.5bR34.4b12.4x11.8x0.7x
Sat, 17 Feb 2024R422.3bR560.1bR33.8b12.2x12.5x0.8x
Mon, 15 Jan 2024R425.9bR560.1bR33.8b11.6x12.6x0.8x
Wed, 13 Dec 2023R414.3bR560.1bR33.8b11.4x12.3x0.7x
Fri, 10 Nov 2023R414.1bR560.1bR33.8b11.4x12.3x0.7x
Sun, 08 Oct 2023R408.8bR560.1bR33.8b11.6x12.1x0.7x
Tue, 05 Sep 2023R427.0bR383.4bR34.4b12.5x12.4x1.1x
Thu, 03 Aug 2023R417.1bR386.2bR33.7b12.5x12.4x1.1x
Price to Earnings Ratio

12.4x


Total Market Cap: R417.1bTotal Earnings: R33.7bTotal Revenue: R386.2bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Insurance Industry Price to Earnings3Y Average 12.3x202420252026
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-1.13%
Financials-1.24%
Insurance-1.61%
Insurance Brokers0%0
General Insurance0%0
Property and Casualty Insurance-1.11%
Life and Health Insurance-1.79%
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.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 11% 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
DSY DiscoveryR255.051.2%
+R2.1b		20.6%PE16.2x
MTM Momentum GroupR40.441.1%
+R549.4m		19.5%PE8.6x
OUT OUTsurance GroupR80.830.06%
+R77.4m		5.7%PE25x

Latest News

OUT
R80.83
OUTsurance Group
7D
0.06%
1Y
5.7%
Analysis Article • Jul 24

Here's Why We Think OUTsurance Group (JSE:OUT) Might Deserve Your Attention Today

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
MTM
R40.44
Momentum Group
7D
1.1%
1Y
19.5%
Analysis Article • Jul 21

If EPS Growth Is Important To You, Momentum Group (JSE:MTM) Presents An Opportunity

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
DSY
R255.05
Discovery
7D
1.2%
1Y
20.6%
Narrative Update • Jul 14

DSY: Higher Profitability Assumptions Will Support A Richer Future P/E

Analysts have trimmed their fair value price target for Discovery from ZAR351.01 to ZAR340.82, as updated assumptions point to weaker revenue growth, a higher expected profit margin, and a slightly richer future P/E multiple. What’s in the News for Discovery No major recent news items have been identified for Discovery based on the provided sources.
SNT
R396.67
Santam
7D
-1.1%
1Y
-7.1%
Narrative Update • Jul 10

nan

Santam’s updated analyst price target has moved from ZAR503.51 to ZAR449.33, as analysts adjust their assumptions for fair value, discount rate, expected revenue growth, profit margin and future P/E multiples. What’s in the News for Santam No recent Santam specific news, periodical coverage or key developments were provided in the available sources.
SLM
R85.07
Sanlam
7D
-2.2%
1Y
-1.4%
OMU
R12.66
Old Mutual
7D
-4.1%
1Y
0.3%