Insurance Carriers Valuation Multiples and Public Comps

Insurance Carriers

See analyst estimates and all valuation multiples for Insurance Carriers

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
Berkshire Hathaway	$1.09T	2.9x	n/a
Ping An Insurance	$190B	1.3x	n/a
Allianz	$164B	0.8x	8.3x
AXA	$164B	1.2x	12.7x
Progressive	$151B	1.8x	10.8x
Chubb	$127B	2.4x	10.8x
China Life Insurance	$124B	1.7x	9.5x
Zurich Insurance Group	$109B	1.8x	18.2x
AIA Group	$106B	5.2x	12.6x
Cigna Group	$106B	0.4x	8.4x
Generali	$94.6B	0.8x	10.4x
Elevance Health	$90.7B	0.5x	8.7x
Tokio Marine Holdings	$78.1B	1.4x	8.4x
Travelers	$69.7B	1.6x	10.6x
MetLife	$68.4B	0.9x	7.8x
Aflac	$65.7B	3.6x	13.5x
Allstate	$61.0B	1.0x	7.6x
Prudential Financial	$59.6B	1.0x	7.3x
Life Insurance Corporation of India	$57.2B	0.5x	n/a
PICC Property & Casualty	$53.3B	0.8x	7.1x
Fubon Financial	$52.0B	5.1x	n/a
Manulife	$51.9B	2.3x	11.4x
People's Insurance Co.	$51.5B	0.6x	5.8x
AIG	$50.1B	1.8x	10.1x
Cathay Financial Holdings	$44.8B	3.8x	n/a
Fairfax Financial	$43.3B	1.3x	n/a
China Pacific Insurance	$42.3B	0.7x	6.2x
Humana	$41.7B	0.3x	10.4x
The Hartford	$41.5B	1.5x	10.2x
Power Corporation of Canada	$40.2B	3.0x	n/a
Intact Financial Corp.	$39.7B	2.2x	14.0x
Great-West Lifeco	$37.4B	12.8x	n/a
Talanx	$36.6B	0.6x	5.9x
Swiss Life	$36.5B	1.7x	n/a
Arch Capital Group	$36.5B	2.1x	9.8x
Prudential	$35.0B	4.2x	10.7x
Sun Life Financial	$34.0B	3.7x	8.9x
Sampo	$32.7B	3.1x	15.9x
Samsung Life Insurance	$32.3B	44.8x	n/a
Loews Corporation	$28.6B	1.6x	n/a
WR Berkley	$28.5B	2.3x	9.8x
Sompo Holdings	$28.1B	0.8x	7.4x
MS&AD Insurance Group	$25.5B	0.6x	4.2x
Dai-ichi Life	$25.2B	0.4x	6.4x
Markel Group	$25.0B	1.7x	n/a
NN Group	$24.8B	1.5x	8.0x
Cincinnati Financial	$24.1B	2.5x	n/a
New China Life Insurance	$22.7B	1.2x	4.5x
QBE Insurance	$22.3B	1.2x	9.3x
ASR Nederland	$21.2B	2.1x	12.6x
SBI Life Insurance Co	$20.5B	2.0x	63.9x
HDFC Life Insurance	$19.3B	2.3x	1.9x
Unipol	$18.8B	1.0x	n/a
Fidelity National Financial	$18.2B	1.3x	n/a
PZU	$17.0B	2.0x	n/a
Tryg	$16.8B	2.7x	15.9x
Erie Insurance	$16.5B	4.1x	n/a
Centene	$16.3B	0.1x	8.1x
Everest Group	$15.9B	0.9x	7.6x
Suncorp Group	$15.7B	1.7x	13.1x
Baloise Group	$15.3B	1.4x	n/a
UnumGroup	$15.3B	1.2x	8.3x
CNA Financial	$15.2B	n/a	n/a
Mapfre	$15.2B	0.5x	n/a
ageas	$15.2B	1.6x	n/a
Admiral Group	$15.1B	2.0x	14.0x
Insurance Australia Group	$14.9B	1.3x	10.4x
Helvetia Group	$14.6B	1.1x	n/a
Gjensidige Forsikring	$14.3B	3.5x	n/a
Globe Life	$14.1B	2.4x	8.6x
Aegon	$13.5B	0.7x	7.7x
China Taiping Insurance	$12.7B	0.9x	1.6x
Samsung Fire & Marine Insurance	$12.5B	1.1x	5.3x
KGI Financial	$12.0B	6.3x	n/a
American Financial Group	$11.8B	1.7x	n/a
BB Seguros	$11.5B	6.5x	3.8x
Old Republic International	$11.3B	1.3x	n/a
Brookfield Wealth Solutions	$11.2B	n/a	n/a
Assurant	$11.1B	0.9x	7.1x
ICICI Lombard	$10.7B	3.3x	44.0x
iA Financial Group	$10.7B	n/a	n/a
ICICI Prudential Life	$10.2B	1.8x	63.3x
Primerica	$10.1B	3.2x	n/a
Kinsale Cap Group	$9.9B	6.4x	17.5x
T&D Holdings	$9.9B	0.4x	8.1x
Jackson Financial	$9.3B	1.5x	5.1x
Sanlam	$9.2B	2.0x	n/a
Equitable Holdings	$9.1B	0.6x	3.3x
FWD Group Holdings	$9.0B	n/a	n/a
Aviva	$8.8B	0.2x	n/a
AXIS Capital	$8.7B	1.4x	n/a
Medibank	$8.5B	1.5x	16.8x
Harel Group	$8.5B	2.0x	n/a
Great Eastern Life	$8.2B	n/a	n/a
China Re	$8.0B	0.5x	n/a
Radian Group	$7.9B	6.1x	n/a
Discovery	$7.9B	2.5x	9.9x
Caixa Seguridade	$7.7B	7.6x	9.8x
Wuestenrot & Wuerttembergische	$7.5B	1.4x	n/a
Lincoln National	$7.4B	0.4x	3.7x
First American Financial	$7.2B	1.0x	13.6x
CNO Financial Group	$7.2B	2.1x	n/a
Sunshine Insurance Group	$7.2B	0.5x	n/a
The Hanover Insurance Group	$6.9B	1.1x	9.1x
DB Insurance	$6.8B	6.1x	3.2x
MGIC Investment Corp.	$6.8B	5.6x	n/a
Vienna Insurance Group	$6.7B	0.4x	n/a
Essent Group	$6.6B	5.3x	n/a
Grupo SURA	$6.4B	0.7x	3.7x
Clal Insurance	$6.3B	n/a	n/a
Definity Financial	$6.3B	1.8x	n/a
OUTsurance Group	$6.2B	5.0x	n/a
Beazley	$6.2B	1.0x	6.0x
Sinar Mas Multiartha	$6.2B	n/a	n/a
Max Financial Services	$6.2B	1.4x	727.6x
RLI	$6.1B	3.0x	n/a
Phoenix Financial	$6.0B	2.2x	n/a
Selective Insurance	$5.8B	1.2x	11.6x
Enact Holdings	$5.8B	4.7x	n/a
Porto Seguro	$5.7B	0.9x	6.7x
Grupo Catalana Occidente	$5.7B	0.8x	n/a
Menora Mivtachim	$5.6B	n/a	n/a
Bupa Arabia	$5.6B	1.0x	n/a
Hiscox	$5.5B	1.1x	7.8x
Assured Guaranty	$5.3B	6.0x	n/a
UNIQA Group	$5.2B	0.5x	n/a
F&G Annuities & Life	$5.0B	0.7x	n/a
Hapvida	$4.9B	0.9x	7.0x
White Mountains	$4.8B	n/a	n/a
E-L Financial	$4.5B	n/a	n/a
Alm Brand	$4.3B	2.4x	n/a
Coface	$4.3B	2.1x	n/a
Company for Cooperative Insurance	$4.3B	0.8x	n/a
Brighthouse Financial	$4.3B	0.5x	2.7x
Protector Forsikring	$4.1B	3.1x	n/a
Kemper	$4.1B	0.9x	n/a
Japan Post Insurance	$4.0B	0.1x	3.3x
Lemonade	$4.0B	6.0x	-27.6x
Capital Financial	$3.8B	n/a	n/a
Mercury Insurance	$3.8B	0.7x	n/a
Digit Insurance	$3.7B	3.3x	40.0x
Aspen Insurance Hldgs	$3.5B	0.9x	n/a
MBIA	$3.5B	124.7x	n/a
Qualitas	$3.5B	0.9x	13.9x
National MI	$3.4B	5.7x	n/a
Inversiones La Construcción	$3.3B	1.2x	n/a
Genworth Financial	$3.3B	0.5x	n/a
EdelweissFin	$3.3B	n/a	n/a
Thai Life Insurance	$3.3B	1.0x	7.6x
Hyundai Fire & Marine	$3.2B	0.3x	n/a
Palomar Holdings	$3.0B	1.7x	n/a
Accelerant Holdings	$3.0B	n/a	n/a
Star Health Insurance	$2.9B	1.5x	-69.2x
Al-Rajhi Co	$2.8B	n/a	n/a
Old Mutual	$2.6B	0.6x	n/a
Oscar Health	$2.5B	0.2x	-31.7x
Stewart Title	$2.5B	0.9x	12.2x
nib Group	$2.5B	1.1x	14.6x
Horace Mann	$2.4B	1.8x	n/a
Santam	$2.4B	1.5x	6.7x
SiriusPoint	$2.3B	0.8x	n/a
Adris Grupa	$2.2B	n/a	n/a
Vaudoise Assurances	$2.1B	n/a	n/a
Just Group	$2.0B	0.2x	n/a
Lancashire Holdings	$1.8B	0.9x	6.2x
Skyward Specialty	$1.8B	0.9x	n/a
Fidelis Insurance	$1.8B	0.5x	n/a
Trupanion	$1.7B	1.2x	29.3x
BaoViet	$1.7B	1.0x	n/a
Zavarovalnica Triglav	$1.7B	0.8x	n/a
ProAssurance	$1.6B	1.7x	n/a
Linea Directa Aseguradora	$1.6B	1.3x	19.6x
New India Assurance	$1.6B	0.3x	n/a
Hamilton Insurance Group	$1.6B	0.6x	2.8x
HCI Group	$1.4B	1.6x	n/a
Grupo Nacional Provincial	$1.4B	0.2x	n/a
Trisura Group	$1.3B	0.6x	n/a
Hagerty	$1.3B	1.0x	8.4x
Clover Health	$1.3B	0.7x	21.5x
Qatar Insurance Group	$1.2B	0.4x	n/a
Grupo Assa	$1.2B	n/a	n/a
Root Inc.	$1.1B	0.8x	10.3x
IDI Insurance	$1.1B	n/a	n/a
Tiptree	$1.0B	n/a	n/a
Banvida	$999M	n/a	n/a
ADNIC	$969M	n/a	n/a
Ategrity Specialty	$961M	n/a	n/a
Abacus Global Management	$932M	5.4x	9.7x
Employers Holdings	$905M	1.0x	n/a
Chesnara	$899M	4.0x	n/a
Momentum Group	$897M	1.1x	1.1x
International General Insurance	$872M	1.6x	n/a
Bowhead Specialty	$856M	1.1x	12.7x
Hippo Insurance	$794M	1.8x	-25.6x
Anadolu Hayat Emeklilik	$786M	n/a	n/a
AMERISAFE	$769M	2.5x	n/a
Crawford	$758M	0.6x	6.1x
UFG Insurance	$726M	0.6x	n/a
Donegal Group	$665M	0.7x	n/a
REVO Insurance	$625M	1.5x	1.4x
AgeSA	$555M	n/a	n/a
Ray Sigorta	$526M	n/a	n/a
Ambac Financial Group	$511M	5.7x	27.5x
James River Group	$485M	0.8x	10.3x
Kingsway Financial Servs	$478M	n/a	n/a
Waterdrop	$465M	1.0x	9.6x
Investors Title	$459M	n/a	n/a
Universal Insurance Holdings	$441M	0.2x	n/a
Sabre Insurance Group	$398M	1.3x	6.0x
Heritage Insurance	$389M	0.5x	n/a
weSure	$379M	n/a	n/a
Global Indemnity Group	$374M	0.9x	8.4x
American Coastal	$368M	0.6x	n/a
Anadolu Anonim	$300M	0.1x	n/a
Vida Security	$269M	n/a	n/a
Nodak Insurance	$223M	n/a	n/a
Helios Underwriting	$167M	3.4x	n/a
Kingstone Companies	$165M	0.6x	n/a
Firstcaution	$158M	n/a	n/a
Bahrain National Holding	$157M	n/a	n/a
American Integrity	$139M	0.2x	n/a
Solid	$122M	1.0x	n/a
Atlantic Insurance Co	$110M	n/a	n/a
CIG Pannonia Life	$92.3M	n/a	n/a
Interlife Gen Insurance	$76.4M	n/a	n/a
Aksigorta	$59.1M	n/a	n/a
OEKOWORLD	$47.0M	n/a	n/a
RheinLand Holding	$22.3M	n/a	n/a
Nord Insuretech Group	$11.0M	n/a	n/a
Phoenix Group plc	-$71.7M	-0.0x	n/a
Migdal Group	-$4.5B	n/a	n/a
SDIC Capital	-$5.7B	n/a	n/a
Challenger	-$11.8B	-18.3x	-26.4x