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	$1.21T	3.2x	n/a
Ping An Insurance	$176B	1.2x	3.3x
Progressive	$168B	2.2x	14.1x
Allianz	$134B	0.7x	7.6x
AXA	$133B	1.1x	11.5x
Chubb	$131B	2.5x	11.2x
Elevance Health	$123B	0.7x	11.1x
Cigna Group	$114B	0.5x	9.3x
China Life Insurance	$110B	1.4x	7.4x
Zurich Insurance Group	$92.6B	1.6x	40.8x
AIA Group	$74.3B	3.8x	9.2x
MetLife	$64.4B	0.9x	7.1x
Travelers	$62.9B	1.4x	10.2x
Aflac	$61.6B	3.3x	12.4x
Allstate	$60.4B	1.0x	8.6x
Tokio Marine Holdings	$56.8B	1.0x	6.1x
AIG	$55.5B	2.0x	13.2x
Prudential Financial	$54.5B	0.8x	6.8x
Life Insurance Corporation of India	$53.2B	0.5x	13.5x
Generali	$47.7B	0.5x	5.9x
Humana	$45.1B	0.4x	11.6x
Fubon Financial	$45.0B	4.3x	n/a
Manulife	$43.3B	2.6x	7.4x
PICC Property & Casualty	$40.6B	0.6x	5.9x
Intact Financial Corp.	$40.5B	2.4x	16.6x
Sun Life Financial	$38.3B	4.0x	10.8x
Fairfax Financial	$38.0B	1.2x	n/a
The Hartford	$37.6B	1.4x	9.8x
Arch Capital Group	$37.3B	2.3x	10.1x
People's Insurance Co.	$37.0B	0.4x	4.9x
Power Corporation of Canada	$35.6B	2.8x	n/a
Great-West Lifeco	$35.6B	10.9x	n/a
Cathay Financial Holdings	$35.4B	2.9x	n/a
Centene	$34.4B	0.2x	7.7x
China Pacific Insurance	$34.0B	0.6x	4.9x
Swiss Life	$28.9B	2.2x	n/a
Talanx	$28.9B	0.5x	5.6x
WR Berkley	$26.9B	2.3x	9.7x
Sampo	$26.8B	2.9x	15.5x
Prudential	$26.7B	3.4x	10.5x
Loews Corporation	$26.2B	1.5x	n/a
Sompo Holdings	$24.7B	0.8x	5.9x
Markel Group	$23.7B	2.0x	n/a
Erie Insurance	$21.6B	5.5x	n/a
QBE Insurance	$20.7B	1.2x	9.3x
Cincinnati Financial	$20.4B	2.2x	n/a
Samsung Life Insurance	$19.1B	32.4x	n/a
NN Group	$18.9B	1.2x	6.8x
ASR Nederland	$18.3B	1.9x	12.0x
MS&AD Insurance Group	$17.9B	0.4x	2.6x
Fidelity National Financial	$17.8B	1.3x	6.3x
HDFC Life Insurance	$17.3B	2.1x	65.6x
SBI Life Insurance	$17.2B	1.6x	55.2x
Dai-ichi Life	$17.1B	0.2x	4.1x
Everest Group	$17.0B	1.0x	10.2x
UnumGroup	$16.8B	1.3x	8.6x
New China Life Insurance	$16.4B	0.9x	3.9x
CNA Financial	$15.3B	n/a	n/a
Equitable Holdings	$14.9B	1.0x	4.9x
Unipol	$14.4B	0.8x	n/a
PZU	$14.0B	1.8x	n/a
Tryg	$13.9B	2.5x	15.0x
Suncorp Group	$13.8B	1.7x	12.5x
BB Seguros	$13.5B	8.2x	4.6x
Admiral Group	$13.3B	1.7x	15.2x
ageas	$12.9B	1.5x	n/a
Globe Life	$12.5B	2.1x	8.1x
Baloise Group	$12.4B	1.3x	n/a
KGI Financial	$11.9B	n/a	n/a
Helvetia Group	$11.5B	1.1x	n/a
Kinsale Cap Group	$11.3B	7.4x	21.6x
American Financial Group	$10.6B	1.5x	n/a
Old Republic International	$10.5B	1.3x	n/a
Aegon	$10.4B	0.6x	6.3x
Mapfre	$10.0B	0.3x	n/a
Assurant	$9.9B	0.8x	6.3x
ICICI Lombard	$9.9B	3.0x	40.8x
Primerica	$9.7B	3.1x	n/a
ICICI Prudential Life	$9.6B	1.7x	62.0x
China Taiping Insurance	$9.5B	0.7x	1.4x
iA Financial Group	$9.0B	0.7x	n/a
Shin Kong Financial	$9.0B	6.5x	n/a
Caixa Seguridade	$8.0B	8.7x	10.2x
Sanlam	$7.9B	3.1x	6.3x
Jackson Financial	$7.9B	1.8x	4.5x
Samsung Fire & Marine Insurance	$7.9B	0.6x	3.5x
Medibank	$7.5B	1.4x	15.4x
AXIS Capital	$7.2B	1.2x	n/a
Radian Group	$6.9B	5.3x	n/a
Discovery	$6.8B	2.6x	n/a
Sunshine Insurance Group	$6.8B	0.6x	n/a
Beazley	$6.8B	1.1x	6.0x
Bupa Arabia	$6.8B	1.4x	n/a
First American Financial	$6.7B	1.1x	10.0x
Lincoln National	$6.6B	0.4x	3.5x
CNO Financial Group	$6.6B	1.6x	n/a
MGIC Investment Corp.	$6.2B	5.1x	n/a
Enstar Group	$6.2B	n/a	n/a
Sinar Mas Multiartha	$6.0B	n/a	n/a
Essent Group	$6.0B	4.8x	n/a
The Hanover Insurance Group	$6.0B	1.0x	9.1x
Selective Insurance	$6.0B	1.3x	15.5x
Wuestenrot & Wuerttembergische	$5.7B	1.2x	n/a
Assured Guaranty	$5.6B	6.4x	n/a
OUTsurance Group	$5.6B	5.1x	n/a
Harel Group	$5.5B	1.5x	n/a
Enact Holdings	$5.5B	4.5x	n/a
Vienna Insurance Group	$5.4B	0.3x	n/a
Grupo Catalana Occidente	$5.2B	0.8x	n/a
Great Eastern Life	$5.1B	n/a	n/a
Company for Cooperative Insurance	$5.0B	n/a	n/a
Kemper	$5.0B	1.0x	n/a
Definity Financial	$4.9B	1.5x	n/a
Grupo SURA	$4.8B	0.4x	2.2x
White Mountains	$4.8B	n/a	n/a
Brighthouse Financial	$4.8B	0.5x	2.6x
Max Financial Services	$4.7B	1.1x	35.6x
T&D Holdings	$4.6B	0.2x	4.0x
China Re	$4.6B	0.3x	n/a
F&G Annuities & Life	$4.4B	0.5x	n/a
Hiscox	$4.3B	1.0x	6.2x
Hapvida	$4.2B	0.8x	6.4x
Porto Seguro	$4.1B	0.7x	4.9x
UNIQA Group	$4.0B	n/a	n/a
Coface	$4.0B	2.1x	n/a
Brookfield Wealth Solutions	$3.9B	n/a	n/a
Palomar Holdings	$3.9B	2.3x	n/a
Inversiones La Construcción	$3.6B	1.2x	n/a
Direct Line Group	$3.5B	0.8x	8.8x
Al-Rajhi Co	$3.5B	n/a	n/a
Thai Life Insurance	$3.4B	1.2x	8.1x
Alm Brand	$3.3B	2.0x	n/a
DB Insurance	$3.3B	0.3x	1.5x
E-L Financial	$3.2B	n/a	n/a
Qualitas	$3.2B	0.9x	17.1x
EdelweissFin	$3.2B	n/a	n/a
Digit Insurance	$3.0B	2.7x	34.1x
National MI	$3.0B	5.3x	n/a
Menora Mivtachim	$3.0B	n/a	n/a
Mercury Insurance	$2.7B	0.5x	n/a
Protector Forsikring	$2.7B	2.2x	n/a
SiriusPoint	$2.5B	0.8x	n/a
Star Health Insurance	$2.5B	1.3x	151.8x
Capital Financial	$2.3B	n/a	n/a
Genworth Financial	$2.2B	0.3x	n/a
Stewart Title	$2.2B	0.9x	10.0x
nib Group	$2.1B	1.0x	12.9x
Horace Mann	$2.1B	1.4x	n/a
Skyward Specialty	$2.1B	1.2x	n/a
Santam	$2.1B	1.2x	6.7x
Oscar Health	$1.9B	0.2x	7.6x
Phoenix Financial	$1.7B	0.7x	n/a
Old Mutual	$1.7B	0.4x	3.2x
Vaudoise Assurances	$1.7B	n/a	n/a
Lemonade	$1.7B	2.9x	-11.2x
ProAssurance	$1.6B	1.7x	n/a
Clover Health	$1.6B	1.0x	24.2x
Hyundai Fire & Marine	$1.5B	0.2x	n/a
New India Assurance	$1.5B	0.3x	n/a
Lancashire Holdings	$1.5B	0.7x	4.8x
Fidelis Insurance	$1.4B	0.4x	n/a
Root Inc.	$1.4B	1.2x	14.0x
Grupo Nacional Provincial	$1.4B	0.2x	n/a
Adris Grupa	$1.4B	n/a	n/a
Trupanion	$1.3B	1.0x	28.0x
BaoViet	$1.3B	0.8x	n/a
Linea Directa Aseguradora	$1.3B	1.1x	20.9x
HCI Group	$1.2B	1.6x	n/a
Zavarovalnica Triglav	$1.2B	0.8x	n/a
Bowhead Specialty	$1.1B	1.6x	18.8x
Safety Insurance Group	$1.1B	0.9x	n/a
Employers Holdings	$1.1B	1.2x	n/a
Qatar Insurance Group	$1.0B	0.4x	n/a
Abacus Global Management	$1.0B	7.6x	14.0x
Grupo Assa	$998M	n/a	n/a
Trisura Group	$975M	0.4x	n/a
Saga	$959M	1.1x	6.5x
Eurohold Bulgaria	$955M	n/a	n/a
Hamilton Insurance Group	$933M	0.4x	1.7x
International General Insurance	$932M	1.7x	n/a
Tiptree	$921M	n/a	n/a
AMERISAFE	$878M	2.9x	n/a
Banvida	$869M	n/a	n/a
Anadolu Hayat Emeklilik	$841M	n/a	n/a
Hagerty	$825M	0.7x	6.2x
ADNIC	$819M	n/a	n/a
Helia Group	$812M	5.4x	4.0x
Just Group	$753M	0.1x	n/a
Crawford	$752M	0.6x	6.6x
Momentum Group	$637M	n/a	n/a
Donegal Group	$613M	0.6x	n/a
UFG Insurance	$582M	0.5x	n/a
Chesnara	$579M	2.7x	n/a
American Coastal	$551M	0.8x	n/a
Anadolu Anonim	$507M	0.2x	n/a
Universal Insurance Holdings	$461M	0.2x	n/a
AgeSA	$440M	n/a	n/a
Global Indemnity Group	$424M	1.1x	7.4x
Ambac Financial Group	$406M	3.6x	7.3x
Investors Title	$405M	n/a	n/a
Sabre Insurance Group	$372M	1.2x	5.4x
Hippo Insurance	$372M	0.9x	-10.3x
Japan Post Insurance	$301M	0.0x	n/a
Vida Security	$285M	n/a	n/a
James River Group	$278M	0.4x	-25.6x
Clal Insurance	$267M	n/a	n/a
Nodak Insurance	$220M	n/a	n/a
weSure	$188M	n/a	n/a
Heritage Insurance	$185M	0.2x	n/a
Citizens	$170M	0.7x	n/a
Bahrain National Holding	$157M	n/a	n/a
Waterdrop	$124M	0.3x	3.3x
Firstcaution	$123M	n/a	n/a
Solid	$111M	1.0x	n/a
Aksigorta	$80.1M	n/a	n/a
OEKOWORLD	$35.7M	0.5x	1.0x
Nord Insuretech Group	$13.7M	n/a	n/a
RheinLand Holding	-$22.0M	n/a	n/a
Nuernberger Beteiligungs	-$87.6M	n/a	n/a
Phoenix Group plc	-$394M	-0.1x	n/a
Migdal Group	-$2.8B	n/a	n/a
Aviva	-$4.1B	-0.1x	n/a
SDIC Capital	-$7.0B	n/a	n/a
Challenger	-$7.4B	-12.2x	-18.0x