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	$1.20T	3.2x	n/a
Ping An Insurance	$179B	1.2x	n/a
Progressive	$162B	2.1x	13.8x
Allianz	$143B	0.7x	8.1x
AXA	$139B	1.2x	11.9x
Chubb	$131B	2.5x	11.3x
Elevance Health	$119B	0.7x	10.7x
Cigna Group	$114B	0.5x	9.3x
China Life Insurance	$113B	1.5x	8.6x
Zurich Insurance Group	$97.2B	1.7x	40.4x
AIA Group	$79.8B	4.1x	10.0x
Travelers	$65.3B	1.5x	10.5x
MetLife	$65.2B	0.9x	7.2x
Aflac	$61.9B	3.4x	12.5x
Tokio Marine Holdings	$61.4B	1.1x	6.6x
Allstate	$61.0B	1.0x	8.7x
Life Insurance Corporation of India	$55.6B	0.5x	14.1x
AIG	$55.0B	2.0x	13.0x
Prudential Financial	$54.7B	0.8x	6.8x
Generali	$50.8B	0.5x	6.3x
Fubon Financial	$44.7B	4.2x	n/a
Manulife	$44.2B	2.6x	7.5x
People's Insurance Co.	$42.9B	0.5x	5.1x
Humana	$41.4B	0.3x	10.6x
Intact Financial Corp.	$41.3B	2.4x	17.0x
PICC Property & Casualty	$41.0B	0.6x	6.2x
Fairfax Financial	$38.9B	1.2x	n/a
Sun Life Financial	$38.8B	4.1x	10.9x
The Hartford	$38.1B	1.4x	9.9x
Arch Capital Group	$37.5B	2.3x	10.1x
Great-West Lifeco	$36.5B	11.2x	n/a
Power Corporation of Canada	$36.5B	2.9x	n/a
Cathay Financial Holdings	$35.1B	2.9x	n/a
China Pacific Insurance	$34.6B	0.6x	6.4x
Centene	$32.9B	0.2x	7.3x
Talanx	$30.8B	0.6x	5.8x
Swiss Life	$30.2B	2.3x	n/a
Prudential	$28.5B	3.6x	11.2x
Sampo	$27.8B	3.0x	16.1x
WR Berkley	$27.0B	2.3x	9.7x
Sompo Holdings	$26.5B	0.9x	6.3x
Loews Corporation	$26.3B	1.5x	n/a
Markel Group	$23.7B	2.0x	n/a
QBE Insurance	$21.5B	1.2x	9.7x
Erie Insurance	$21.2B	5.4x	n/a
Cincinnati Financial	$20.6B	2.2x	n/a
NN Group	$19.8B	1.3x	7.1x
Samsung Life Insurance	$19.4B	31.3x	n/a
MS&AD Insurance Group	$19.2B	0.4x	2.7x
ASR Nederland	$18.8B	1.9x	12.4x
Fidelity National Financial	$18.3B	1.3x	6.4x
SBI Life Insurance	$18.2B	1.7x	58.3x
HDFC Life Insurance	$18.1B	2.2x	68.4x
Dai-ichi Life	$17.5B	0.2x	4.2x
Everest Group	$17.0B	1.0x	10.0x
UnumGroup	$16.9B	1.3x	8.7x
New China Life Insurance	$16.8B	0.9x	3.4x
CNA Financial	$15.4B	n/a	n/a
Unipol	$15.3B	0.9x	n/a
Equitable Holdings	$15.0B	1.0x	4.9x
PZU	$14.5B	1.9x	n/a
Tryg	$14.4B	2.5x	15.4x
Suncorp Group	$14.0B	1.7x	12.7x
BB Seguros	$13.8B	8.4x	4.7x
Admiral Group	$13.8B	1.8x	15.9x
ageas	$13.7B	1.6x	n/a
Insurance Australia Group	$13.1B	1.2x	10.7x
Baloise Group	$13.0B	1.3x	n/a
Globe Life	$12.7B	2.2x	8.2x
KGI Financial	$12.1B	n/a	n/a
Helvetia Group	$12.0B	1.1x	n/a
Kinsale Cap Group	$11.4B	7.4x	21.8x
Aegon	$10.8B	0.6x	6.6x
American Financial Group	$10.8B	1.5x	n/a
Old Republic International	$10.7B	1.3x	n/a
Mapfre	$10.6B	0.3x	n/a
ICICI Lombard	$10.3B	3.1x	46.3x
ICICI Prudential Life	$10.2B	1.8x	65.8x
Assurant	$9.9B	0.8x	6.3x
Primerica	$9.8B	3.2x	n/a
China Taiping Insurance	$9.7B	0.6x	1.2x
Shin Kong Financial	$9.3B	6.6x	n/a
iA Financial Group	$9.2B	0.7x	n/a
Sanlam	$8.5B	3.2x	6.8x
Caixa Seguridade	$8.3B	9.0x	10.5x
Samsung Fire & Marine Insurance	$8.2B	0.7x	3.6x
Jackson Financial	$7.9B	1.8x	4.5x
Medibank	$7.6B	1.4x	15.6x
AXIS Capital	$7.3B	1.2x	n/a
Discovery	$7.2B	2.8x	n/a
Beazley	$7.0B	1.1x	6.2x
Sunshine Insurance Group	$6.9B	0.6x	n/a
Radian Group	$6.8B	5.2x	n/a
First American Financial	$6.7B	1.0x	9.8x
Lincoln National	$6.7B	0.4x	3.6x
CNO Financial Group	$6.7B	1.7x	n/a
Bupa Arabia	$6.6B	1.4x	n/a
MGIC Investment Corp.	$6.2B	5.1x	n/a
Enstar Group	$6.2B	n/a	n/a
The Hanover Insurance Group	$6.2B	1.0x	9.4x
Selective Insurance	$6.2B	1.3x	15.7x
Essent Group	$6.1B	4.8x	n/a
Sinar Mas Multiartha	$6.0B	n/a	n/a
Harel Group	$5.8B	1.6x	n/a
Vienna Insurance Group	$5.8B	0.4x	n/a
Wuestenrot & Wuerttembergische	$5.8B	1.3x	n/a
OUTsurance Group	$5.7B	5.2x	n/a
Assured Guaranty	$5.7B	6.6x	n/a
Enact Holdings	$5.5B	4.5x	n/a
Grupo Catalana Occidente	$5.3B	0.9x	n/a
Great Eastern Life	$5.1B	n/a	n/a
Definity Financial	$5.1B	1.6x	n/a
Kemper	$5.0B	1.0x	n/a
Brighthouse Financial	$4.9B	0.6x	2.7x
Company for Cooperative Insurance	$4.9B	n/a	n/a
Max Financial Services	$4.9B	1.1x	37.2x
T&D Holdings	$4.9B	0.2x	4.2x
Grupo SURA	$4.8B	0.4x	2.2x
White Mountains	$4.8B	n/a	n/a
China Re	$4.7B	0.3x	n/a
Hiscox	$4.6B	1.0x	6.6x
F&G Annuities & Life	$4.6B	0.5x	n/a
UNIQA Group	$4.3B	n/a	n/a
Porto Seguro	$4.2B	0.7x	5.1x
Brookfield Wealth Solutions	$4.1B	n/a	n/a
Hapvida	$4.1B	0.8x	6.3x
Coface	$4.1B	2.2x	n/a
Palomar Holdings	$3.9B	2.4x	n/a
Direct Line Group	$3.7B	0.8x	9.0x
Thai Life Insurance	$3.6B	1.3x	8.7x
Inversiones La Construcción	$3.6B	1.2x	n/a
E-L Financial	$3.5B	n/a	n/a
Al-Rajhi Co	$3.4B	n/a	n/a
Alm Brand	$3.4B	2.1x	n/a
DB Insurance	$3.3B	0.4x	1.6x
Qualitas	$3.3B	1.0x	21.2x
EdelweissFin	$3.2B	n/a	n/a
Digit Insurance	$3.2B	2.8x	35.9x
Menora Mivtachim	$3.1B	n/a	n/a
National MI	$3.0B	5.2x	n/a
Mercury Insurance	$2.8B	0.5x	n/a
Protector Forsikring	$2.7B	2.3x	n/a
Star Health Insurance	$2.7B	1.4x	159.2x
SiriusPoint	$2.6B	0.8x	n/a
Capital Financial	$2.3B	n/a	n/a
Genworth Financial	$2.2B	0.3x	n/a
Skyward Specialty	$2.2B	1.2x	n/a
Stewart Title	$2.2B	0.9x	10.0x
Santam	$2.2B	1.3x	7.0x
nib Group	$2.2B	1.0x	13.0x
Horace Mann	$2.2B	1.4x	n/a
Phoenix Financial	$2.1B	0.8x	n/a
Old Mutual	$1.9B	0.4x	3.7x
New India Assurance	$1.8B	0.4x	n/a
Oscar Health	$1.8B	0.2x	7.0x
Lemonade	$1.7B	3.0x	-11.4x
Vaudoise Assurances	$1.7B	n/a	n/a
Lancashire Holdings	$1.6B	0.8x	5.2x
Root Inc.	$1.6B	1.3x	15.5x
ProAssurance	$1.6B	1.7x	n/a
Hyundai Fire & Marine	$1.6B	0.2x	n/a
Clover Health	$1.5B	1.0x	23.6x
Fidelis Insurance	$1.5B	0.4x	n/a
Grupo Nacional Provincial	$1.4B	0.2x	n/a
Adris Grupa	$1.4B	n/a	n/a
BaoViet	$1.4B	0.8x	n/a
Linea Directa Aseguradora	$1.3B	1.2x	22.0x
Trupanion	$1.3B	1.0x	27.1x
HCI Group	$1.2B	1.6x	n/a
Zavarovalnica Triglav	$1.2B	0.9x	n/a
Bowhead Specialty	$1.2B	1.6x	19.9x
Safety Insurance Group	$1.1B	0.9x	n/a
Employers Holdings	$1.1B	1.3x	n/a
Grupo Assa	$1.1B	n/a	n/a
Trisura Group	$1.0B	0.5x	n/a
Hamilton Insurance Group	$1.0B	0.4x	1.9x
Abacus Global Management	$1.0B	7.7x	14.3x
Qatar Insurance Group	$986M	0.4x	n/a
International General Insurance	$961M	1.8x	n/a
Eurohold Bulgaria	$955M	n/a	n/a
Saga	$954M	1.1x	6.5x
Tiptree	$953M	n/a	n/a
Anadolu Hayat Emeklilik	$920M	n/a	n/a
AMERISAFE	$900M	3.0x	n/a
Banvida	$869M	n/a	n/a
Just Group	$838M	0.1x	n/a
Helia Group	$836M	5.5x	4.1x
Hagerty	$824M	0.7x	6.1x
ADNIC	$822M	n/a	n/a
Momentum Group	$763M	n/a	n/a
Crawford	$750M	0.6x	6.6x
Donegal Group	$623M	0.7x	n/a
UFG Insurance	$607M	0.5x	n/a
Chesnara	$586M	2.7x	n/a
American Coastal	$550M	0.8x	n/a
Anadolu Anonim	$536M	0.3x	n/a
Universal Insurance Holdings	$493M	0.2x	n/a
AgeSA	$484M	n/a	n/a
Japan Post Insurance	$478M	0.0x	n/a
Ambac Financial Group	$476M	4.2x	8.8x
Hippo Insurance	$424M	1.1x	-11.9x
Global Indemnity Group	$422M	1.1x	7.3x
Investors Title	$416M	n/a	n/a
Clal Insurance	$402M	n/a	n/a
Sabre Insurance Group	$365M	1.2x	5.3x
Vida Security	$285M	n/a	n/a
James River Group	$271M	0.4x	-30.8x
Heritage Insurance	$266M	0.3x	n/a
Nodak Insurance	$220M	n/a	n/a
weSure	$196M	n/a	n/a
Citizens	$188M	0.8x	n/a
Bahrain National Holding	$159M	n/a	n/a
Waterdrop	$135M	0.3x	3.6x
Firstcaution	$123M	n/a	n/a
Solid	$116M	1.1x	n/a
Aksigorta	$85.2M	n/a	n/a
OEKOWORLD	$49.2M	0.7x	1.4x
Nord Insuretech Group	$13.4M	n/a	n/a
Phoenix Group plc	$10.6M	0.0x	n/a
RheinLand Holding	-$18.7M	n/a	n/a
Nuernberger Beteiligungs	-$64.1M	n/a	n/a
Migdal Group	-$2.7B	n/a	n/a
Aviva	-$3.1B	-0.1x	n/a
SDIC Capital	-$7.0B	n/a	n/a
Challenger	-$7.1B	-11.8x	-17.3x