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	$1.08T	2.9x	n/a
Ping An Insurance	$186B	1.3x	n/a
AXA	$168B	1.3x	13.2x
Allianz	$160B	0.8x	8.3x
Progressive	$150B	1.8x	10.9x
China Life Insurance	$140B	2.1x	10.6x
Chubb	$127B	2.4x	10.8x
Zurich Insurance Group	$111B	1.8x	20.3x
Cigna Group	$107B	0.4x	8.6x
AIA Group	$104B	5.2x	12.4x
Generali	$96.5B	0.8x	10.7x
Elevance Health	$92.3B	0.5x	8.8x
Tokio Marine Holdings	$78.9B	1.4x	8.5x
Travelers	$68.8B	1.5x	10.4x
MetLife	$68.6B	0.9x	7.8x
Aflac	$65.2B	3.6x	13.4x
Allstate	$62.3B	1.0x	7.9x
Prudential Financial	$60.9B	1.0x	7.4x
Life Insurance Corporation of India	$58.5B	0.6x	n/a
People's Insurance Co.	$55.3B	0.7x	6.3x
PICC Property & Casualty	$53.4B	0.8x	7.4x
AIG	$53.3B	2.0x	11.0x
Fubon Financial	$52.7B	4.9x	n/a
Manulife	$48.2B	2.2x	10.4x
China Pacific Insurance	$48.0B	0.8x	7.2x
Cathay Financial Holdings	$44.7B	3.7x	n/a
Humana	$44.3B	0.4x	11.0x
Fairfax Financial	$42.6B	1.3x	n/a
The Hartford	$41.8B	1.5x	10.3x
Power Corporation of Canada	$39.9B	3.0x	n/a
Intact Financial Corp.	$39.8B	2.2x	14.3x
Talanx	$39.1B	0.7x	6.4x
Great-West Lifeco	$37.8B	12.7x	n/a
Arch Capital Group	$37.2B	2.2x	10.0x
Swiss Life	$37.0B	2.0x	n/a
Prudential	$36.6B	4.4x	11.3x
Sun Life Financial	$33.3B	3.6x	8.8x
Sampo	$32.7B	3.2x	16.1x
Samsung Life Insurance	$28.8B	41.9x	n/a
Loews Corporation	$28.3B	1.6x	n/a
Sompo Holdings	$28.1B	0.8x	7.2x
WR Berkley	$27.9B	2.2x	9.6x
MS&AD Insurance Group	$26.6B	0.6x	4.4x
Dai-ichi Life	$25.8B	0.4x	6.2x
Markel Group	$25.7B	1.8x	n/a
NN Group	$25.3B	1.5x	8.2x
New China Life Insurance	$24.7B	1.3x	4.9x
Cincinnati Financial	$23.9B	2.5x	n/a
QBE Insurance	$22.3B	1.2x	9.3x
ASR Nederland	$22.1B	2.3x	13.3x
SBI Life Insurance Co	$21.0B	2.0x	65.3x
HDFC Life Insurance	$19.7B	2.3x	2.0x
Unipol	$19.2B	1.0x	n/a
Erie Insurance	$18.7B	4.7x	n/a
Fidelity National Financial	$18.3B	1.3x	n/a
ageas	$16.9B	1.7x	n/a
Tryg	$16.9B	2.7x	16.2x
PZU	$16.7B	2.0x	n/a
Admiral Group	$16.4B	2.1x	15.4x
Everest Group	$16.0B	0.9x	7.9x
CNA Financial	$15.8B	n/a	n/a
Baloise Group	$15.8B	1.4x	n/a
Suncorp Gr	$15.5B	1.8x	13.0x
Helvetia Group	$15.2B	1.3x	n/a
Mapfre	$14.9B	0.4x	n/a
Centene	$14.6B	0.1x	6.5x
UnumGroup	$14.3B	1.1x	7.8x
Insurance Australia Group	$14.3B	1.3x	10.0x
Aegon	$14.3B	0.7x	8.2x
Gjensidige Forsikring	$14.2B	3.5x	n/a
Globe Life	$13.8B	2.3x	8.5x
China Taiping Insurance	$13.7B	1.0x	1.7x
KGI Financial	$12.9B	5.6x	n/a
Samsung Fire & Marine Insurance	$11.7B	1.0x	5.0x
Assurant	$11.4B	0.9x	7.3x
American Financial Group	$11.3B	1.6x	n/a
BB Seguros	$11.3B	6.5x	3.6x
Old Republic International	$11.2B	1.3x	n/a
ICICI Lombard	$10.9B	3.3x	45.0x
ICICI Prudential Life	$10.7B	1.8x	66.4x
Kinsale Cap Group	$10.5B	6.8x	18.6x
China Re	$10.4B	0.6x	n/a
iA Financial Group	$10.2B	n/a	n/a
Brookfield Wealth Solutions	$10.1B	n/a	n/a
Primerica	$10.0B	3.1x	n/a
Sanlam	$9.9B	2.3x	n/a
T&D Holdings	$9.9B	0.4x	8.4x
Jackson Financial	$9.4B	1.6x	5.2x
Equitable Holdings	$9.0B	0.6x	3.2x
Medibank	$9.0B	1.6x	17.3x
AXIS Capital	$8.9B	1.4x	n/a
Aviva	$8.9B	0.2x	n/a
Discovery	$8.3B	3.2x	10.7x
Radian Group	$7.9B	6.2x	n/a
Sunshine Insurance Group	$7.7B	0.6x	n/a
Lincoln National	$7.6B	0.4x	3.8x
Caixa Seguridade	$7.5B	7.5x	9.6x
Wuestenrot & Wuerttembergische	$7.5B	1.5x	n/a
FWD Group Holdings	$7.4B	n/a	n/a
First American Financial	$7.2B	1.1x	13.6x
CNO Financial Group	$7.1B	2.0x	n/a
Vienna Insurance Group	$7.0B	0.4x	n/a
Phoenix Financial	$6.8B	2.6x	n/a
MGIC Investment Corp.	$6.8B	5.6x	n/a
Great Eastern Life	$6.8B	n/a	n/a
The Hanover Insurance Group	$6.7B	1.1x	9.1x
Essent Group	$6.6B	5.2x	n/a
Clal Insurance	$6.5B	n/a	n/a
Max Financial Services	$6.5B	1.5x	766.1x
Grupo SURA	$6.5B	0.7x	3.6x
OUTsurance Group	$6.4B	5.9x	17.1x
DB Insurance	$6.4B	5.7x	3.0x
RLI	$6.3B	3.1x	n/a
Menora Mivtachim	$6.2B	n/a	n/a
Sinar Mas Multiartha	$6.1B	n/a	n/a
Beazley	$6.1B	1.0x	5.7x
Definity Financial	$6.0B	1.8x	n/a
Selective Insurance	$5.8B	1.2x	12.0x
Porto Seguro	$5.8B	0.9x	6.2x
Enact Holdings	$5.7B	4.7x	n/a
Bupa Arabia	$5.7B	1.1x	n/a
Grupo Catalana Occidente	$5.6B	0.8x	n/a
Hiscox	$5.6B	1.1x	8.0x
Accelerant Holdings	$5.4B	n/a	n/a
Assured Guaranty	$5.3B	5.9x	n/a
UNIQA Group	$5.2B	0.6x	n/a
White Mountains	$5.1B	n/a	n/a
F&G Annuities & Life	$5.0B	0.7x	n/a
Hapvida	$4.8B	0.9x	6.8x
Coface	$4.5B	2.2x	n/a
Company for Cooperative Insurance	$4.3B	0.8x	n/a
Alm Brand	$4.3B	2.4x	n/a
Brighthouse Financial	$4.3B	0.5x	2.6x
Protector Forsikring	$4.2B	3.2x	n/a
Harel Group	$4.2B	1.0x	n/a
E-L Financial	$4.1B	n/a	n/a
Kemper	$4.1B	0.9x	n/a
Digit Insurance	$3.9B	3.5x	41.6x
Capital Financial	$3.7B	n/a	n/a
Mercury Insurance	$3.7B	0.7x	n/a
Lemonade	$3.7B	5.7x	-25.7x
Japan Post Insurance	$3.7B	0.1x	2.9x
MBIA	$3.5B	122.2x	n/a
Inversiones La Construcción	$3.5B	1.3x	n/a
Qualitas	$3.5B	0.9x	14.4x
National MI	$3.4B	5.8x	n/a
Thai Life Insurance	$3.3B	1.0x	7.7x
Hyundai Fire & Marine	$3.3B	0.4x	n/a
Genworth Financial	$3.3B	0.4x	n/a
Palomar Holdings	$3.2B	1.8x	n/a
Aspen Insurance Hldgs	$3.2B	0.8x	n/a
EdelweissFin	$3.1B	n/a	n/a
Al-Rajhi Co	$3.0B	n/a	n/a
Star Health Insurance	$3.0B	1.5x	-69.7x
Old Mutual	$2.6B	0.7x	n/a
Santam	$2.6B	2.3x	7.1x
nib Group	$2.5B	1.1x	15.1x
Stewart Title	$2.4B	0.9x	12.0x
Horace Mann	$2.3B	1.7x	n/a
SiriusPoint	$2.3B	0.8x	n/a
Vaudoise Assurances	$2.2B	n/a	n/a
Adris Grupa	$2.1B	n/a	n/a
Oscar Health	$2.0B	0.2x	-36.3x
Just Group	$2.0B	0.2x	n/a
Skyward Specialty	$2.0B	1.0x	n/a
Lancashire Holdings	$1.8B	0.9x	6.1x
Trupanion	$1.8B	1.3x	30.6x
BaoViet	$1.7B	1.0x	n/a
Fidelis Insurance	$1.7B	0.4x	n/a
Linea Directa Aseguradora	$1.7B	1.3x	20.7x
Zavarovalnica Triglav	$1.7B	0.8x	n/a
New India Assurance	$1.6B	0.3x	n/a
ProAssurance	$1.6B	1.7x	n/a
Phoenix Group plc	$1.6B	0.2x	n/a
Hamilton Insurance Group	$1.5B	0.6x	2.7x
Grupo Nacional Provincial	$1.3B	0.2x	n/a
Trisura Group	$1.3B	0.6x	n/a
HCI Group	$1.2B	1.4x	n/a
Grupo Assa	$1.2B	n/a	n/a
Qatar Insurance Group	$1.1B	0.4x	n/a
Hagerty	$1.1B	0.9x	7.3x
Saga	$1.1B	1.2x	6.7x
Momentum Group	$1.1B	1.4x	1.4x
Safety Insurance Group	$1.1B	0.9x	n/a
Ategrity Specialty	$1.1B	n/a	n/a
Eurohold Bulgaria	$1.1B	n/a	n/a
Clover Health	$1.0B	0.6x	17.0x
Tiptree	$1.0B	n/a	n/a
Chesnara	$994M	4.5x	n/a
Helia Group	$989M	5.3x	4.3x
ADNIC	$980M	n/a	n/a
Abacus Global Management	$954M	5.6x	10.2x
Bowhead Specialty	$953M	1.3x	14.4x
Employers Holdings	$947M	1.1x	n/a
Banvida	$945M	n/a	n/a
Root Inc.	$918M	0.7x	8.5x
International General Insurance	$886M	1.7x	n/a
AMERISAFE	$827M	2.7x	n/a
Crawford	$804M	0.6x	6.6x
Anadolu Hayat Emeklilik	$769M	n/a	n/a
UFG Insurance	$711M	0.6x	n/a
Hippo Insurance	$686M	1.6x	-21.4x
Donegal Group	$599M	0.6x	n/a
AgeSA	$570M	n/a	n/a
REVO Insurance	$562M	1.3x	1.3x
James River Group	$508M	0.8x	12.9x
Ambac Financial Group	$508M	5.6x	21.5x
Kingsway Financial Servs	$470M	n/a	n/a
Investors Title	$441M	n/a	n/a
Sabre Insurance Group	$433M	1.4x	6.5x
Universal Insurance Holdings	$425M	0.2x	n/a
weSure	$399M	n/a	n/a
Waterdrop	$382M	0.9x	9.8x
Global Indemnity Group	$364M	0.9x	8.0x
American Coastal	$349M	0.5x	n/a
Heritage Insurance	$317M	0.4x	n/a
Anadolu Anonim	$302M	0.1x	n/a
Vida Security	$268M	n/a	n/a
Citizens	$245M	1.0x	n/a
Nuernberger Beteiligungs	$233M	n/a	n/a
Nodak Insurance	$203M	n/a	n/a
Bahrain National Holding	$173M	n/a	n/a
Kingstone Companies	$164M	0.6x	n/a
Firstcaution	$147M	n/a	n/a
American Integrity	$126M	0.1x	n/a
Solid	$118M	1.0x	n/a
Atlantic Insurance Co	$115M	n/a	n/a
CIG Pannonia Life	$98.1M	n/a	n/a
Aksigorta	$87.7M	n/a	n/a
Interlife Gen Insurance	$74.6M	n/a	n/a
OEKOWORLD	$70.9M	n/a	n/a
RheinLand Holding	$17.6M	n/a	n/a
Nord Insuretech Group	$10.7M	n/a	n/a
Migdal Group	-$4.1B	n/a	n/a
SDIC Capital	-$4.7B	n/a	n/a
Challenger	-$11.7B	-18.5x	-26.7x