South African (JSE) Insurance Industry Analysis

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
Mon, 30 Oct 2023	R395.1b	R560.1b	R33.8b	11.3x	11.7x	0.7x
Wed, 27 Sep 2023	R422.1b	R550.6b	R34.2b	12.3x	12.3x	0.8x
Fri, 25 Aug 2023	R420.5b	R386.2b	R33.7b	12.6x	12.5x	1.1x
Sun, 23 Jul 2023	R412.8b	R386.2b	R33.7b	12.2x	12.3x	1.1x
Tue, 20 Jun 2023	R394.1b	R386.2b	R33.7b	11.2x	11.7x	1x
Thu, 18 May 2023	R348.4b	R386.2b	R33.7b	9.5x	10.3x	0.9x
Sat, 15 Apr 2023	R377.5b	R386.2b	R33.7b	10.4x	11.2x	1x
Mon, 13 Mar 2023	R393.0b	R412.8b	R34.2b	10.9x	11.5x	1x
Wed, 08 Feb 2023	R385.6b	R463.2b	R33.4b	10.4x	11.5x	0.8x
Fri, 06 Jan 2023	R350.5b	R463.2b	R33.4b	9.1x	10.5x	0.8x
Sun, 04 Dec 2022	R335.1b	R463.2b	R33.4b	9.2x	10x	0.7x
Tue, 01 Nov 2022	R337.6b	R463.2b	R33.4b	9.6x	10.1x	0.7x
Thu, 29 Sep 2022	R323.0b	R463.2b	R33.4b	9.3x	9.7x	0.7x
Sat, 27 Aug 2022	R355.5b	R734.3b	R26.3b	12.2x	13.5x	0.5x
Mon, 25 Jul 2022	R341.8b	R734.3b	R26.3b	11.8x	13x	0.5x
Wed, 22 Jun 2022	R352.5b	R734.3b	R26.3b	11.8x	13.4x	0.5x
Fri, 20 May 2022	R373.9b	R734.3b	R26.3b	13.4x	14.2x	0.5x
Sun, 17 Apr 2022	R442.9b	R734.3b	R26.3b	14.8x	16.8x	0.6x
Tue, 15 Mar 2022	R463.7b	R754.8b	R25.4b	20.3x	18.3x	0.6x
Thu, 10 Feb 2022	R474.2b	R721.1b	R22.8b	23.6x	20.8x	0.7x
Sat, 08 Jan 2022	R444.3b	R721.1b	R22.8b	22.5x	19.5x	0.6x
Mon, 06 Dec 2021	R416.3b	R721.1b	R22.8b	21.4x	18.2x	0.6x
Wed, 03 Nov 2021	R449.2b	R721.1b	R22.8b	22.3x	19.7x	0.6x
Fri, 01 Oct 2021	R443.3b	R720.9b	R22.7b	21.1x	19.6x	0.6x
Sun, 29 Aug 2021	R415.1b	R719.9b	R21.2b	22x	19.5x	0.6x
Mon, 05 Jul 2021	R398.4b	R719.9b	R21.2b	19x	18.8x	0.6x
Thu, 08 Apr 2021	R388.1b	R609.4b	R9.5b	29.1x	40.9x	0.6x
Sun, 10 Jan 2021	R398.2b	R499.2b	-R2,281,581,000.00	37.3x	-174.5x	0.8x

Current Industry PE

Investors are pessimistic on the South African Insurance industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 11.7x which is higher than its 3-year average PE of -13.9x.

Past Earnings Growth

Total earnings for the Insurance industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 6.0% per year.
This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the South African Financials industry?


ZA Market	-1.18%
Financials	-1.22%
Insurance	-1.55%
Property and Casualty Insurance	0.27%
Insurance Brokers	0%
General Insurance	0%
Reinsurance	0%
Life and Health Insurance	-2.09%

Industry PE

Investors are most optimistic about the Property and Casualty Insurance industry even though it's trading below its 3-year average PE ratio of 20.8x.

Analysts are expecting annual earnings growth of 11.7%, which is lower than the prior year's growth of 78.3% per year.

Investors are most pessimistic about the Life and Health Insurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.

Forecasted Growth

Analysts are most optimistic on the Life and Health Insurance industry, expecting annual earnings growth of 18% over the next 5 years.
This is better than its past earnings growth rate of 7.8% per year.