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	$188B	1.3x	n/a
Allianz	$166B	0.8x	8.5x
AXA	$161B	1.2x	12.6x
Progressive	$139B	1.7x	9.3x
China Life Insurance	$129B	1.8x	9.5x
China Life Insurance Co	$129B	1.8x	9.5x
Chubb	$125B	2.3x	10.6x
Cigna Group	$106B	0.4x	8.5x
Zurich Insurance Group	$106B	1.7x	15.9x
Elevance Health	$100B	0.5x	9.6x
AIA Group	$98.1B	4.8x	11.5x
Generali	$92.4B	0.8x	10.2x
Tokio Marine Holdings	$69.4B	1.3x	7.8x
Travelers	$67.1B	1.5x	9.8x
MetLife	$67.1B	0.9x	7.5x
Aflac	$65.3B	3.6x	13.6x
Allstate	$60.7B	1.0x	7.0x
Prudential Financial	$57.9B	1.0x	7.0x
Life Insurance Corporation of India	$57.0B	0.5x	n/a
PICC Property & Casualty	$53.9B	0.8x	7.0x
People's Insurance Co	$53.3B	0.6x	n/a
Fubon Financial	$53.3B	5.3x	n/a
People's Insurance Co.	$53.3B	0.6x	5.3x
Manulife	$50.6B	2.2x	12.0x
AIG	$50.3B	1.8x	9.9x
Cathay Financial Holdings	$44.7B	3.9x	n/a
China Pacific Insurance	$41.7B	0.7x	6.4x
Humana	$41.6B	0.3x	10.3x
Fairfax Financial	$41.1B	1.3x	n/a
Power Corporation of Canada	$40.7B	3.1x	n/a
The Hartford	$39.5B	1.4x	9.5x
Great-West Lifeco	$39.3B	12.4x	n/a
Intact Financial Corp.	$37.3B	2.1x	13.0x
Swiss Life	$37.0B	1.6x	n/a
Talanx	$35.7B	0.6x	5.9x
Arch Capital Group	$35.2B	2.0x	9.0x
Sun Life Financial	$34.6B	4.9x	9.2x
Prudential	$33.9B	4.1x	10.4x
Sampo	$31.5B	3.0x	15.3x
Samsung Life Insurance	$30.9B	41.8x	n/a
Loews Corporation	$29.0B	1.7x	n/a
WR Berkley	$29.0B	2.3x	9.9x
Sompo Holdings	$25.9B	0.8x	6.0x
NN Group	$24.7B	1.5x	8.1x
Markel Group	$24.6B	1.6x	n/a
New China Life Insurance	$24.5B	1.3x	4.5x
Cincinnati Financial	$23.8B	2.4x	n/a
MS&AD Insurance Group	$22.2B	0.5x	3.8x
QBE Insurance	$21.0B	1.1x	8.4x
ASR Nederland	$20.7B	2.0x	12.1x
SBI Life Insurance Co	$20.6B	2.0x	64.1x
Dai-ichi Life	$20.6B	0.3x	5.4x
Unipol	$19.1B	1.0x	n/a
HDFC Life Insurance	$18.3B	2.1x	1.8x
Centene	$17.6B	0.1x	8.6x
Fidelity National Financial	$16.9B	1.2x	n/a
Everest Group	$16.3B	0.9x	7.0x
Erie Insurance	$16.3B	4.0x	n/a
Tryg	$15.5B	2.5x	14.6x
UnumGroup	$15.4B	1.2x	8.4x
Mapfre	$15.3B	0.5x	n/a
CNA Financial	$14.9B	n/a	n/a
PZU	$14.9B	1.8x	n/a
Baloise Group	$14.9B	1.5x	n/a
ageas	$14.7B	1.6x	n/a
Admiral Group	$14.6B	2.0x	13.0x
Suncorp Group	$14.6B	1.6x	12.3x
Helvetia Group	$14.1B	1.0x	n/a
Gjensidige Forsikring	$14.0B	3.4x	n/a
Globe Life	$13.5B	2.3x	8.2x
Aegon	$13.2B	0.7x	6.9x
China Taiping Insurance	$12.8B	0.8x	1.6x
KGI Financial	$12.1B	6.6x	n/a
Old Republic International	$11.7B	1.3x	n/a
BB Seguros	$11.3B	6.5x	3.6x
ICICI Lombard	$11.2B	3.4x	46.1x
Samsung Fire & Marine Insurance	$11.2B	1.0x	4.8x
Assurant	$11.1B	0.9x	7.1x
American Financial Group	$11.1B	1.6x	n/a
iA Financial Group	$10.5B	n/a	n/a
Kinsale Cap Group	$10.5B	6.6x	18.3x
ICICI Prudential Life	$10.0B	1.7x	61.7x
Primerica	$9.9B	3.1x	n/a
Sanlam	$9.8B	2.6x	n/a
Jackson Financial	$9.3B	1.4x	5.0x
Harel Group	$9.2B	2.1x	n/a
China Re	$8.8B	0.5x	n/a
Aviva	$8.5B	0.2x	n/a
AXIS Capital	$8.4B	1.3x	n/a
Discovery	$8.3B	2.7x	n/a
Sony Financial	$8.1B	n/a	n/a
Medibank Pvt	$8.1B	1.4x	16.0x
Caixa Seguridade	$8.1B	7.9x	9.5x
FWD Group Holdings	$7.9B	n/a	n/a
Radian Group	$7.7B	6.1x	n/a
T&D Holdings	$7.6B	0.3x	6.4x
Wuestenrot & Wuerttembergische	$7.5B	1.4x	n/a
Great Eastern Life	$7.4B	n/a	n/a
Equitable Holdings	$7.4B	0.5x	2.7x
CNO Financial Group	$7.1B	1.8x	n/a
Phoenix Financial	$7.0B	2.4x	n/a
Sunshine Insurance Group	$7.0B	0.5x	n/a
Lincoln National	$6.9B	0.4x	3.3x
Beazley	$6.7B	1.1x	6.3x
The Hanover Insurance Group	$6.7B	1.0x	8.7x
Clal Insurance	$6.6B	n/a	n/a
MGIC Investment Corp.	$6.6B	5.4x	n/a
Vienna Insurance Group	$6.5B	0.4x	n/a
First American Financial	$6.5B	0.9x	12.3x
OUTsurance Group	$6.5B	4.0x	n/a
Grupo SURA	$6.5B	0.7x	3.9x
Essent Group	$6.3B	5.0x	n/a
Menora Mivtachim	$6.2B	n/a	n/a
Bupa Arabia	$6.1B	1.2x	n/a
Selective Insurance	$6.0B	1.2x	11.3x
Max Financial Services	$6.0B	1.3x	707.0x
DB Insurance	$6.0B	5.6x	3.0x
Hiscox	$5.6B	1.1x	7.7x
Grupo Catalana Occidente	$5.6B	0.8x	n/a
RLI	$5.6B	2.7x	n/a
Definity Financial	$5.5B	1.6x	n/a
Sinar Mas Multiartha	$5.5B	n/a	n/a
Enact Holdings	$5.4B	4.4x	n/a
White Mountains	$5.3B	n/a	n/a
Assured Guaranty	$5.2B	5.9x	n/a
Porto Seguro	$5.2B	0.8x	6.2x
Brookfield Wealth Solutions	$5.1B	n/a	n/a
UNIQA Group	$5.1B	0.5x	n/a
Company for Cooperative Insurance	$4.9B	1.0x	n/a
E-L Financial	$4.4B	n/a	n/a
Coface	$4.3B	2.1x	n/a
Brighthouse Financial	$4.3B	0.5x	2.7x
F&G Annuities & Life	$4.3B	0.7x	n/a
Hapvida	$4.3B	0.8x	6.2x
Alm Brand	$4.1B	2.3x	n/a
Protector Forsikring	$4.1B	3.0x	n/a
Mercury Insurance	$3.9B	0.7x	n/a
Kemper	$3.9B	0.8x	n/a
Go Digit Insurance	$3.7B	3.2x	39.4x
Digit Insurance	$3.7B	3.2x	39.4x
Aspen Insurance	$3.5B	1.0x	n/a
MBIA	$3.5B	127.4x	n/a
Qualitas	$3.5B	0.9x	16.2x
Capital Financial	$3.4B	n/a	n/a
Inversiones La Construcción	$3.4B	1.2x	n/a
Star Health Insurance	$3.3B	1.7x	-79.9x
Lemonade	$3.3B	4.9x	-23.4x
Thai Life Insurance	$3.3B	1.0x	7.8x
Japan Post Insurance	$3.3B	0.1x	2.8x
Genworth Financial	$3.2B	0.4x	n/a
EdelweissFin	$3.2B	n/a	n/a
National MI	$3.1B	5.2x	n/a
Hyundai Fire & Marine	$3.0B	0.3x	n/a
Palomar Holdings	$3.0B	1.6x	n/a
Al-Rajhi Co	$2.9B	n/a	n/a
Oscar Health	$2.7B	0.2x	-23.2x
nib Group	$2.4B	1.0x	13.8x
Stewart Title	$2.4B	0.9x	11.5x
Santam	$2.3B	1.0x	6.3x
Horace Mann	$2.3B	1.8x	n/a
SiriusPoint	$2.2B	0.8x	n/a
Adris Grupa	$2.1B	n/a	n/a
Vaudoise Assurances	$2.1B	n/a	n/a
Just Group	$2.0B	0.2x	n/a
Accelerant Holdings	$2.0B	n/a	n/a
Lancashire Holdings	$1.9B	0.9x	6.5x
Skyward Specialty	$1.9B	0.9x	n/a
Fidelis Insurance	$1.8B	0.5x	n/a
Old Mutual	$1.8B	0.5x	n/a
Trupanion	$1.6B	1.2x	27.0x
ProAssurance	$1.6B	1.8x	n/a
Zavarovalnica Triglav	$1.6B	0.8x	n/a
HCI Group	$1.5B	1.8x	n/a
Linea Directa Aseguradora	$1.5B	1.2x	18.1x
Hamilton Insurance Group	$1.5B	0.6x	2.7x
BaoViet	$1.5B	0.9x	n/a
New India Assurance	$1.5B	0.3x	n/a
Grupo Nacional Provincial	$1.4B	0.2x	n/a
Grupo Assa	$1.2B	n/a	n/a
Trisura Group	$1.2B	0.5x	n/a
Saga	$1.2B	1.3x	6.8x
Hagerty	$1.2B	0.9x	7.3x
Qatar Insurance Group	$1.2B	0.4x	n/a
Clover Health	$1.1B	0.6x	18.8x
Eurohold Bulgaria	$1.0B	n/a	n/a
Safety Insurance Group	$1.0B	0.9x	n/a
IDI Insurance	$1.0B	n/a	n/a
ADNIC	$1.0B	n/a	n/a
Banvida	$1.0B	n/a	n/a
Helia Group	$915M	4.5x	3.9x
Employers Holdings	$904M	1.0x	n/a
Chesnara	$882M	4.0x	n/a
Ategrity Specialty	$837M	n/a	n/a
Abacus Global Management	$818M	4.5x	8.1x
Anadolu Hayat Emeklilik	$814M	n/a	n/a
Tiptree	$789M	n/a	n/a
International General Insurance	$789M	1.5x	n/a
Bowhead Specialty	$771M	1.0x	11.4x
Crawford	$766M	0.6x	6.1x
AMERISAFE	$730M	2.4x	n/a
Root Inc.	$725M	0.5x	6.8x
Hippo Insurance	$714M	1.6x	-25.3x
Momentum Group	$701M	0.9x	0.9x
UFG Insurance	$693M	0.5x	n/a
Donegal Group	$653M	0.7x	n/a
Nuernberger Beteiligungs	$646M	n/a	n/a
AgeSA	$630M	n/a	n/a
REVO Insurance	$600M	1.4x	1.4x
Universal Insurance Holdings	$529M	0.2x	n/a
Kingsway Financial Servs	$486M	n/a	n/a
James River Group	$483M	0.8x	8.2x
Ambac Financial Group	$478M	5.4x	28.5x
Investors Title	$466M	n/a	n/a
Ray Sigorta	$428M	n/a	n/a
Waterdrop	$421M	0.9x	7.8x
American Coastal	$412M	0.6x	n/a
weSure	$400M	n/a	n/a
Sabre Insurance Group	$380M	1.3x	5.8x
Global Indemnity Group	$361M	0.9x	8.4x
Heritage Insurance	$354M	0.4x	n/a
Citizens	$269M	1.1x	n/a
Dunav Osiguranje	$258M	n/a	n/a
Anadolu Anonim	$250M	0.1x	n/a
Nodak Insurance	$222M	n/a	n/a
Helios Underwriting	$215M	4.5x	n/a
American Integrity	$196M	0.2x	n/a
Kingstone Companies	$176M	0.7x	n/a
Firstcaution	$175M	n/a	n/a
Ste Assurances Multirisques Ittihad SA	$164M	n/a	n/a
Bahrain National Holding	$159M	n/a	n/a
Solid	$128M	1.1x	n/a
Phoenix Group plc	$123M	0.0x	n/a
Atlantic Insurance Co	$93.7M	n/a	n/a
CIG Pannonia Life	$90.3M	n/a	n/a
Interlife Gen Insurance	$82.6M	n/a	n/a
Aksigorta	$65.2M	n/a	n/a
Insurance Australia Group	$42.4M	0.0x	0.0x
OEKOWORLD	$23.4M	n/a	n/a
Nord Insuretech Group	$13.8M	n/a	n/a
RheinLand Holding	$8.7M	n/a	n/a
Migdal Group	-$4.6B	n/a	n/a
SDIC Capital	-$5.8B	n/a	n/a
Challenger	-$11.7B	-18.2x	-26.6x