Insurance Carriers Valuation Multiples and Public Comps

Insurance Carriers

See analyst estimates and all valuation multiples for Insurance Carriers

Company	EV	EV/Revenue	EV/EBITDA
Berkshire Hathaway	$1.12T	3.0x	n/a
Ping An Insurance	$176B	1.3x	n/a
Progressive	$163B	2.1x	14.1x
Allianz	$145B	0.8x	8.7x
AXA	$135B	1.2x	12.0x
Chubb	$126B	2.4x	10.8x
China Life Insurance	$124B	3.0x	n/a
Elevance Health	$110B	0.6x	10.1x
Cigna	$109B	0.4x	8.9x
Zurich Insurance Group	$98.6B	1.8x	27.6x
AIA Group	$82.1B	3.9x	10.3x
MetLife	$71.0B	1.0x	7.9x
Travelers	$61.8B	1.4x	9.7x
Generali	$60.8B	0.6x	8.0x
Tokio Marine Holdings	$59.1B	1.1x	7.2x
Allstate	$58.6B	1.0x	8.4x
Prudential Financial	$58.3B	0.9x	7.3x
Life Insurance Corporation of India	$53.5B	0.5x	13.6x
AIG	$53.1B	2.0x	13.5x
Fubon Financial	$50.2B	5.3x	n/a
Manulife	$48.7B	6.0x	8.4x
Cathay Financial Holdings	$41.0B	3.4x	10.0x
People's Insurance Co.	$40.6B	0.5x	n/a
Humana	$40.4B	0.3x	10.5x
Intact Financial Corp.	$39.3B	2.3x	16.3x
Sun Life Financial	$39.0B	4.1x	10.9x
PICC Property & Casualty	$37.3B	0.5x	n/a
The Hartford	$36.6B	1.4x	9.4x
Great-West Lifeco	$36.5B	10.6x	n/a
Arch Capital Group	$35.9B	2.2x	9.6x
China Pacific Insurance	$35.6B	0.7x	n/a
Power Corporation of Canada	$35.0B	2.9x	n/a
Fairfax Financial	$32.6B	1.0x	n/a
Centene	$31.4B	0.2x	7.0x
Swiss Life	$28.4B	1.4x	n/a
Talanx	$27.2B	0.5x	5.5x
Sompo Holdings	$25.9B	0.7x	n/a
Loews Corporation	$25.9B	1.5x	n/a
Sampo	$24.7B	2.8x	15.0x
Markel Group	$24.6B	2.2x	n/a
WR Berkley	$24.4B	2.1x	8.8x
Prudential	$22.6B	n/a	9.4x
Dai-ichi Life	$22.4B	0.3x	6.6x
QBE Insurance	$21.3B	1.2x	9.9x
Cincinnati Financial	$21.0B	2.3x	n/a
Samsung Life Insurance	$20.4B	45.0x	n/a
Erie Insurance	$19.9B	5.2x	n/a
MS&AD Insurance Group	$19.5B	0.5x	3.4x
NN Group	$18.8B	1.3x	7.2x
New China Life Insurance	$18.7B	1.3x	n/a
ASR Nederland	$17.4B	1.5x	12.6x
SBI Life Insurance	$16.8B	1.6x	55.5x
UnumGroup	$16.5B	1.3x	8.5x
Everest Group	$16.5B	0.9x	10.6x
Equitable Holdings	$16.4B	1.1x	5.4x
CNA Financial	$15.8B	1.5x	n/a
Fidelity National Financial	$15.7B	1.1x	n/a
HDFC Life Insurance	$15.6B	1.9x	62.6x
Unipol	$13.9B	0.8x	n/a
PZU	$13.5B	1.9x	n/a
BB Seguridade	$13.5B	8.2x	4.7x
Tryg	$13.4B	2.5x	14.8x
KGI Financial	$13.2B	6.2x	n/a
Globe Life	$12.9B	2.2x	8.3x
Ageas	$12.2B	1.5x	n/a
Admiral Group	$11.5B	1.6x	13.4x
Baloise Group	$10.9B	1.1x	n/a
Aegon	$10.7B	0.7x	6.1x
Old Republic International	$10.6B	1.3x	n/a
Primerica	$10.5B	3.4x	n/a
China Taiping Insurance	$10.3B	0.6x	1.5x
American Financial Group	$10.1B	1.4x	n/a
Samsung Fire & Marine Insurance	$10.1B	0.8x	4.3x
Kinsale Cap Group	$10.1B	6.7x	19.2x
Helvetia Group	$10.1B	0.9x	n/a
ICICI Lombard	$9.9B	3.1x	42.6x
ICICI Prudential Life	$9.8B	1.8x	64.5x
Shin Kong Financial	$9.8B	7.9x	n/a
Mapfre	$9.3B	0.3x	n/a
iA Financial Group	$9.2B	0.7x	n/a
Sanlam	$9.1B	1.6x	7.4x
Jackson Financial	$8.7B	2.3x	4.8x
Caixa Seguridade	$8.1B	9.0x	10.5x
Lincoln National	$7.7B	0.4x	4.1x
Discovery	$7.7B	3.0x	n/a
AXIS Capital	$7.5B	1.2x	n/a
Radian Group	$7.0B	5.4x	n/a
Bupa Arabia	$6.9B	1.4x	n/a
CNO Financial Group	$6.9B	1.6x	n/a
Enstar Group	$6.6B	n/a	n/a
Medibank	$6.6B	1.2x	14.8x
First American Financial	$6.5B	1.0x	10.8x
T&D Holdings	$6.4B	0.3x	n/a
MGIC Investment Corp.	$6.4B	5.3x	n/a
Essent Group	$6.2B	5.0x	n/a
Sinar Mas Multiartha	$6.2B	n/a	n/a
Assured Guaranty	$6.1B	7.1x	n/a
Beazley	$6.1B	1.1x	5.3x
The Hanover Insurance Group	$5.9B	1.0x	9.0x
Sunshine Insurance Group	$5.7B	0.5x	n/a
OUTsurance Group	$5.5B	4.8x	n/a
Brighthouse Financial	$5.5B	0.6x	3.0x
Selective Insurance	$5.5B	1.2x	16.1x
China Reinsurance	$5.5B	0.3x	n/a
Kemper	$5.4B	1.2x	n/a
Company for Cooperative Insurance	$5.4B	1.1x	n/a
Wuestenrot & Wuerttembergische	$5.2B	1.1x	n/a
Enact Holdings	$5.2B	4.3x	n/a
Great Eastern Life	$5.1B	n/a	n/a
White Mountains	$5.1B	n/a	n/a
Harel Group	$5.0B	n/a	n/a
F&G Annuities & Life	$5.0B	0.5x	n/a
Vienna Insurance Group	$4.9B	0.4x	n/a
Grupo SURA	$4.8B	0.5x	2.0x
Definity Financial	$4.6B	1.5x	n/a
Hapvida	$4.4B	0.9x	6.7x
Al-Rajhi	$4.3B	n/a	n/a
Max Financial Services	$4.2B	1.0x	35.9x
Ambac Financial Group	$4.2B	n/a	59.4x
Porto Seguro	$4.1B	0.8x	5.0x
DB Insurance	$4.0B	0.4x	1.8x
E-L Financial	$3.9B	n/a	n/a
Thai Life Insurance	$3.9B	1.3x	10.1x
Hiscox	$3.8B	0.8x	5.3x
Grupo Catalana Occidente	$3.7B	0.6x	n/a
UNIQA Group	$3.7B	4.6x	n/a
Coface	$3.7B	2.0x	n/a
Qualitas	$3.6B	1.1x	23.7x
Aviva	$3.5B	0.1x	n/a
Alm Brand	$3.4B	2.2x	n/a
EdelweissFin	$3.4B	n/a	n/a
Go Digit General	$3.2B	2.9x	31.1x
Inversiones La Construcción	$3.2B	n/a	n/a
Menora Mivtachim	$3.2B	n/a	n/a
National MI	$3.1B	5.4x	n/a
Palomar Holdings	$3.1B	1.9x	n/a
Direct Line Group	$3.0B	0.7x	8.5x
Mercury Insurance	$2.8B	0.5x	n/a
Star Health Insurance	$2.6B	1.4x	180.9x
Oscar Health	$2.5B	0.3x	11.0x
Protector Forsikring	$2.3B	2.1x	n/a
Santam	$2.3B	1.4x	7.3x
SiriusPoint	$2.3B	0.7x	n/a
Stewart Title	$2.3B	0.9x	10.8x
Genworth Financial	$2.2B	0.3x	n/a
Brookfield Wealth Solutions	$2.2B	n/a	n/a
Capital Financial	$2.2B	n/a	n/a
Lemonade	$2.1B	3.9x	-13.9x
Horace Mann	$2.1B	1.4x	n/a
Skyward Specialty	$2.0B	1.1x	n/a
Assurant	$1.9B	0.2x	1.2x
Old Mutual	$1.9B	0.5x	3.7x
Clover Health	$1.9B	1.3x	33.3x
nib Group	$1.9B	0.9x	11.5x
BaoViet	$1.7B	1.0x	n/a
New India Assurance	$1.6B	0.3x	n/a
Just Group	$1.5B	0.2x	n/a
Vaudoise Assurances	$1.5B	n/a	n/a
Lancashire Holdings	$1.5B	0.7x	4.2x
Hyundai Fire & Marine	$1.5B	0.1x	n/a
Grupo Assa	$1.4B	n/a	n/a
Grupo Nacional Provincial	$1.4B	n/a	n/a
Adris Grupa	$1.3B	1.3x	6.1x
Fidelis Insurance	$1.3B	0.5x	n/a
Linea Directa Aseguradora	$1.2B	1.2x	22.2x
Trupanion	$1.2B	0.9x	26.4x
Qatar Insurance Group	$1.2B	0.4x	n/a
Anadolu Hayat Emeklilik	$1.2B	n/a	n/a
Root Inc.	$1.1B	1.0x	14.4x
Safety Insurance Group	$1.1B	n/a	n/a
ProAssurance	$1.1B	1.2x	n/a
Zavarovalnica Triglav	$1.1B	0.8x	n/a
Employers Holdings	$1.1B	1.2x	n/a
International General Insurance	$1.1B	2.0x	n/a
Trisura Group	$1.0B	0.5x	n/a
Hamilton Insurance Group	$1.0B	0.5x	1.6x
Japan Post Insurance	$965M	0.0x	n/a
HCI Group	$952M	1.2x	n/a
Helia Group	$934M	4.0x	4.6x
Anadolu Anonim	$927M	0.5x	n/a
Hagerty	$920M	0.8x	7.1x
Eurohold Bulgaria	$914M	n/a	n/a
Abacus Life	$908M	7.6x	13.6x
ADNIC	$901M	n/a	n/a
Bowhead Specialty	$880M	1.6x	16.1x
AMERISAFE	$878M	3.0x	n/a
Crawford	$859M	0.7x	7.6x
Saga	$854M	1.1x	5.8x
Banvida	$839M	n/a	n/a
Tiptree	$718M	n/a	n/a
AgeSA	$605M	n/a	n/a
Chesnara	$592M	n/a	n/a
Momentum Group	$582M	n/a	n/a
American Coastal	$569M	0.9x	n/a
UFG Insurance	$566M	0.5x	n/a
Donegal Group	$526M	0.6x	n/a
Clal Insurance	$501M	n/a	n/a
Hippo Insurance	$480M	1.3x	-12.5x
Global Indemnity Group	$477M	1.2x	8.1x
Investors Title	$404M	n/a	n/a
Sabre Insurance Group	$348M	1.1x	5.3x
Universal Insurance Holdings	$322M	0.2x	n/a
Vida Security	$277M	n/a	n/a
James River Group	$271M	0.4x	15.0x
Nodak Insurance	$257M	n/a	n/a
Citizens	$226M	0.9x	n/a
weSure	$211M	n/a	n/a
Waterdrop	$195M	0.5x	4.8x
Bahrain National Holding	$145M	n/a	n/a
Firstcaution	$119M	n/a	n/a
Solid	$108M	1.0x	n/a
Aksigorta	$103M	n/a	n/a
OEKOWORLD	$55.7M	0.9x	1.7x
Nord Insuretech Group	$12.7M	n/a	n/a
Nuernberger Beteiligungs	-$7.6M	n/a	n/a
RheinLand Holding	-$19.8M	n/a	n/a
Heritage Insurance	-$25.5M	-0.0x	n/a
Phoenix Group plc	-$1.1B	-0.1x	-1.6x
Phoenix Financial	-$1.3B	-0.5x	n/a
Migdal Group	-$3.8B	n/a	n/a
SDIC Capital	-$5.2B	-2.7x	n/a
Aflac	-$41.4B	-2.2x	-8.3x