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	$1.11T	3.0x	n/a
Ping An Insurance	$175B	1.2x	n/a
AXA	$158B	1.2x	12.1x
Allianz	$156B	0.8x	8.0x
Progressive	$150B	1.9x	11.7x
Chubb	$129B	2.4x	11.0x
China Life Insurance	$127B	1.7x	10.9x
Zurich Insurance Group	$107B	1.7x	23.6x
Cigna Group	$103B	0.4x	8.3x
Elevance Health	$99.5B	0.5x	8.8x
AIA Group	$98.5B	5.0x	12.2x
Generali	$89.9B	0.8x	10.0x
Tokio Marine Holdings	$70.5B	1.2x	7.3x
MetLife	$67.5B	0.9x	7.4x
Travelers	$65.0B	1.5x	11.0x
Prudential Financial	$60.9B	1.0x	7.4x
Aflac	$60.6B	3.3x	12.5x
Allstate	$60.4B	1.0x	8.8x
AIG	$54.5B	2.0x	11.8x
People's Insurance Co.	$52.2B	0.6x	6.4x
Manulife	$49.0B	2.4x	9.6x
Fairfax Financial	$46.3B	1.3x	n/a
PICC Property & Casualty	$45.9B	0.7x	6.8x
Intact Financial Corp.	$45.4B	2.5x	16.8x
China Pacific Insurance	$42.2B	0.7x	6.8x
Power Corporation of Canada	$39.2B	3.0x	n/a
The Hartford	$38.9B	1.4x	10.0x
Talanx	$37.8B	0.6x	6.2x
Great-West Lifeco	$37.5B	11.9x	n/a
Humana	$36.9B	0.3x	9.3x
Sun Life Financial	$35.7B	3.7x	9.2x
Arch Capital Group	$35.5B	2.1x	9.3x
Swiss Life	$34.7B	2.0x	n/a
Prudential	$34.7B	4.3x	10.6x
Sampo	$31.4B	3.1x	16.0x
Samsung Life Insurance	$28.4B	32.5x	n/a
Loews Corporation	$27.4B	1.6x	n/a
WR Berkley	$27.3B	2.3x	9.7x
Markel Group	$25.9B	1.9x	n/a
Sompo Holdings	$24.5B	0.7x	6.2x
QBE Insurance	$23.7B	1.3x	10.2x
NN Group	$23.6B	1.4x	7.6x
Dai-ichi Life	$23.0B	0.3x	5.4x
Cincinnati Financial	$22.9B	2.4x	n/a
New China Life Insurance	$22.2B	1.2x	4.8x
MS&AD Insurance Group	$22.0B	0.5x	3.5x
SBI Life Insurance	$21.3B	2.1x	64.9x
HDFC Life Insurance	$19.2B	2.2x	1.9x
Unipol	$18.4B	1.0x	n/a
Erie Insurance	$17.8B	4.5x	n/a
UnumGroup	$17.6B	1.3x	9.1x
Tryg	$16.8B	2.7x	16.0x
Centene	$16.7B	0.1x	3.9x
Everest Group	$16.5B	0.9x	8.9x
PZU	$16.2B	1.9x	n/a
Equitable Holdings	$16.0B	1.1x	5.3x
Suncorp Group	$15.5B	1.7x	12.3x
ASR Nederland	$15.3B	1.5x	9.1x
Fidelity National Financial	$14.9B	1.1x	n/a
Baloise Group	$14.9B	1.4x	n/a
Admiral Group	$14.7B	1.8x	14.8x
Insurance Australia Group	$14.4B	1.3x	9.8x
CNA Financial	$14.4B	n/a	n/a
Helvetia Group	$14.1B	1.2x	n/a
Gjensidige Forsikring	$14.0B	3.5x	n/a
Mapfre	$13.6B	0.4x	n/a
Samsung Fire & Marine Insurance	$13.0B	1.1x	5.4x
Aegon	$12.9B	0.8x	7.0x
BB Seguros	$12.6B	7.2x	4.0x
Globe Life	$12.3B	2.1x	7.9x
China Taiping Insurance	$11.9B	0.8x	1.5x
ICICI Lombard	$11.6B	3.4x	50.4x
Brookfield Wealth Solutions	$11.6B	n/a	n/a
ICICI Prudential Life	$11.3B	1.9x	69.6x
Kinsale Cap Group	$11.2B	7.4x	21.1x
American Financial Group	$10.7B	1.5x	n/a
Old Republic International	$10.4B	1.2x	n/a
Primerica	$10.1B	3.2x	n/a
Assurant	$9.9B	0.8x	6.3x
iA Financial Group	$9.6B	n/a	n/a
Sanlam	$9.5B	2.5x	n/a
Medibank	$8.9B	1.6x	16.7x
Lincoln National	$8.4B	0.5x	4.4x
Jackson Financial	$8.2B	1.6x	4.6x
Discovery	$8.1B	3.1x	10.6x
Caixa Seguridade	$8.0B	7.9x	9.5x
China Re	$8.0B	0.5x	n/a
Beazley	$7.1B	1.1x	6.5x
Sunshine Insurance Group	$7.1B	0.7x	n/a
CNO Financial Group	$7.1B	1.9x	n/a
Bupa Arabia	$6.9B	1.4x	n/a
Definity Financial	$6.9B	2.0x	n/a
Radian Group	$6.9B	5.4x	n/a
T&D Holdings	$6.9B	0.3x	5.8x
DB Insurance	$6.9B	0.7x	3.1x
AXIS Capital	$6.8B	1.1x	n/a
OUTsurance Group	$6.6B	6.1x	17.7x
Vienna Insurance Group	$6.6B	0.4x	n/a
MGIC Investment Corp.	$6.4B	5.3x	n/a
First American Financial	$6.4B	1.0x	12.1x
Selective Insurance	$6.3B	1.3x	13.7x
The Hanover Insurance Group	$6.3B	1.0x	9.3x
Wuestenrot & Wuerttembergische	$6.3B	1.2x	n/a
Sinar Mas Multiartha	$6.3B	n/a	n/a
Max Financial Services	$6.3B	1.4x	742.2x
Essent Group	$6.0B	4.7x	n/a
Porto Seguro	$5.9B	0.9x	6.4x
Grupo Catalana Occidente	$5.8B	0.8x	n/a
Grupo SURA	$5.8B	0.6x	2.9x
Company for Cooperative Insurance	$5.6B	1.0x	n/a
Assured Guaranty	$5.6B	6.6x	n/a
Great Eastern Life	$5.4B	n/a	n/a
Enact Holdings	$5.3B	4.4x	n/a
UNIQA Group	$5.3B	0.6x	n/a
Brighthouse Financial	$5.2B	0.6x	3.0x
Hiscox	$5.1B	1.0x	7.5x
White Mountains	$5.0B	n/a	n/a
Kemper	$4.7B	1.0x	n/a
Coface	$4.4B	2.1x	n/a
E-L Financial	$4.3B	n/a	n/a
Protector Forsikring	$4.3B	3.3x	n/a
Hapvida	$4.3B	0.8x	6.0x
Alm Brand	$4.1B	2.3x	n/a
Qualitas	$3.9B	1.0x	16.8x
Thai Life Insurance	$3.5B	1.2x	8.1x
Hyundai Fire & Marine	$3.4B	0.4x	n/a
Inversiones La Construcción	$3.4B	1.1x	n/a
EdelweissFin	$3.3B	n/a	n/a
National MI	$3.3B	5.6x	n/a
Capital Financial	$3.3B	n/a	n/a
Aviva	$3.2B	0.1x	n/a
F&G Annuities & Life	$3.1B	0.4x	n/a
Al-Rajhi Co	$3.1B	n/a	n/a
Mercury Insurance	$3.0B	0.5x	n/a
Genworth Financial	$2.6B	0.4x	n/a
Lemonade	$2.6B	4.2x	-17.9x
Santam	$2.6B	2.3x	7.0x
nib Group	$2.4B	1.0x	14.0x
SiriusPoint	$2.3B	0.8x	n/a
Horace Mann	$2.2B	1.6x	n/a
Old Mutual	$2.2B	0.6x	n/a
Skyward Specialty	$2.1B	1.1x	n/a
Vaudoise Assurances	$2.1B	n/a	n/a
Stewart Title	$2.1B	0.8x	10.3x
Adris Grupa	$2.0B	n/a	n/a
Trupanion	$1.9B	1.4x	38.7x
Oscar Health	$1.7B	0.2x	7.6x
Lancashire Holdings	$1.7B	0.8x	5.5x
Linea Directa Aseguradora	$1.7B	1.3x	21.7x
BaoViet	$1.6B	1.0x	n/a
ProAssurance	$1.6B	1.7x	n/a
Zavarovalnica Triglav	$1.6B	0.8x	n/a
New India Assurance	$1.5B	0.3x	n/a
Fidelis Insurance	$1.4B	0.4x	n/a
Trisura Group	$1.4B	0.6x	n/a
Hamilton Insurance Group	$1.4B	0.5x	2.6x
Grupo Nacional Provincial	$1.4B	0.2x	n/a
Root Inc.	$1.4B	1.0x	12.6x
Qatar Insurance Group	$1.3B	0.5x	n/a
Clover Health	$1.2B	0.7x	18.5x
Grupo Assa	$1.1B	n/a	n/a
Safety Insurance Group	$1.1B	0.9x	n/a
Saga	$1.0B	1.1x	6.4x
HCI Group	$1.0B	1.3x	n/a
Employers Holdings	$1.0B	1.2x	n/a
Bowhead Specialty	$1.0B	1.4x	15.6x
ADNIC	$998M	n/a	n/a
Tiptree	$976M	n/a	n/a
International General Insurance	$976M	1.8x	n/a
Hagerty	$954M	0.7x	6.7x
Helia Group	$949M	5.4x	4.5x
Banvida	$934M	n/a	n/a
Chesnara	$885M	3.9x	n/a
Momentum Group	$864M	n/a	n/a
Phoenix Group plc	$812M	0.1x	n/a
Abacus Global Management	$805M	5.3x	9.5x
Crawford	$799M	0.6x	6.7x
AMERISAFE	$797M	2.6x	n/a
Anadolu Hayat Emeklilik	$753M	n/a	n/a
Just Group	$727M	0.1x	n/a
Donegal Group	$625M	0.7x	n/a
UFG Insurance	$606M	0.5x	n/a
AgeSA	$534M	n/a	n/a
REVO Insurance	$529M	1.3x	1.3x
Hippo Insurance	$521M	1.2x	-12.7x
Anadolu Anonim	$512M	0.2x	n/a
American Coastal	$506M	0.8x	n/a
Sabre Insurance Group	$464M	1.5x	6.4x
James River Group	$438M	0.7x	19.6x
Ambac Financial Group	$428M	3.7x	11.0x
Universal Insurance Holdings	$370M	0.2x	n/a
Global Indemnity Group	$367M	0.9x	6.5x
Investors Title	$366M	n/a	n/a
Heritage Insurance	$346M	0.4x	n/a
Vida Security	$279M	n/a	n/a
Waterdrop	$245M	0.6x	6.2x
Nodak Insurance	$214M	n/a	n/a
Bahrain National Holding	$159M	n/a	n/a
Citizens	$153M	0.6x	n/a
Firstcaution	$149M	n/a	n/a
Solid	$127M	1.1x	n/a
OEKOWORLD	$113M	n/a	n/a
Atlantic Insurance Co	$113M	n/a	n/a
CIG Pannonia Life	$97.9M	n/a	n/a
Aksigorta	$90.4M	n/a	n/a
Interlife Gen Insurance	$73.1M	n/a	n/a
Nuernberger Beteiligungs	$60.0M	n/a	n/a
RheinLand Holding	$26.9M	n/a	n/a
Nord Insuretech Group	$8.1M	n/a	n/a
Japan Post Insurance	-$1.4B	-0.0x	n/a
SDIC Capital	-$5.4B	n/a	n/a
Challenger	-$6.8B	-10.7x	-15.4x