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	$1.18T	3.2x	n/a
Progressive	$169B	2.1x	13.8x
Ping An Insurance	$162B	1.1x	n/a
AXA	$149B	1.2x	12.3x
Allianz	$149B	0.7x	8.1x
Chubb	$135B	2.6x	11.6x
China Life Insurance	$118B	1.6x	9.6x
Elevance Health	$108B	0.6x	9.7x
Zurich Insurance Group	$106B	1.7x	30.8x
Cigna Group	$105B	0.4x	8.5x
AIA Group	$93.4B	4.7x	11.7x
Tokio Marine Holdings	$75.5B	1.3x	7.8x
Travelers	$69.5B	1.6x	11.5x
MetLife	$68.3B	0.9x	7.5x
Generali	$65.9B	0.6x	7.7x
Allstate	$64.0B	1.1x	9.3x
Life Insurance Corporation of India	$61.8B	0.6x	15.4x
Aflac	$61.2B	3.3x	12.5x
Prudential Financial	$60.3B	1.0x	7.4x
AIG	$55.5B	2.0x	12.6x
Manulife	$50.9B	2.7x	9.7x
People's Insurance Co.	$49.6B	0.6x	6.0x
Fubon Financial	$49.4B	4.2x	n/a
Intact Financial Corp.	$44.7B	2.5x	17.2x
PICC Property & Casualty	$44.5B	0.7x	6.7x
Fairfax Financial	$42.8B	1.3x	n/a
Cathay Financial Holdings	$41.9B	3.3x	n/a
The Hartford	$41.6B	1.5x	10.7x
Arch Capital Group	$37.9B	2.3x	10.0x
Power Corporation of Canada	$37.8B	2.9x	n/a
Talanx	$37.2B	0.7x	6.5x
China Pacific Insurance	$37.1B	0.7x	6.4x
Humana	$36.8B	0.3x	9.4x
Great-West Lifeco	$36.8B	11.4x	n/a
Sun Life Financial	$36.8B	3.8x	9.8x
Swiss Life	$33.2B	2.2x	n/a
Prudential	$31.2B	3.7x	9.7x
Sampo	$29.9B	3.2x	16.2x
WR Berkley	$29.2B	2.4x	10.4x
Centene	$29.2B	0.2x	6.4x
Loews Corporation	$27.0B	1.5x	n/a
Sompo Holdings	$26.2B	0.7x	6.0x
Markel Group	$25.0B	1.9x	n/a
MS&AD Insurance Group	$24.7B	0.5x	3.4x
QBE Insurance	$24.0B	1.3x	10.6x
Dai-ichi Life	$23.3B	0.3x	5.4x
Cincinnati Financial	$23.3B	2.5x	n/a
Samsung Life Insurance	$23.2B	30.5x	n/a
NN Group	$21.7B	1.3x	7.4x
SBI Life Insurance	$21.2B	2.1x	65.9x
HDFC Life Insurance	$19.9B	2.3x	71.2x
Erie Insurance	$18.4B	4.7x	n/a
Unipol	$17.9B	1.0x	n/a
UnumGroup	$17.8B	1.4x	9.2x
New China Life Insurance	$17.5B	0.9x	3.6x
Everest Group	$16.8B	1.0x	9.6x
Tryg	$16.6B	2.8x	16.9x
Equitable Holdings	$16.2B	1.1x	5.3x
PZU	$15.6B	2.0x	n/a
Suncorp Group	$15.4B	1.8x	13.3x
Fidelity National Financial	$15.4B	1.1x	n/a
CNA Financial	$15.4B	n/a	n/a
ageas	$15.3B	1.7x	n/a
Admiral Group	$14.9B	1.9x	15.7x
Insurance Australia Group	$14.5B	1.3x	10.4x
ASR Nederland	$14.3B	1.5x	9.0x
Baloise Group	$14.2B	1.4x	n/a
KGI Financial	$13.9B	5.4x	n/a
Helvetia Group	$13.4B	1.1x	n/a
BB Seguros	$12.9B	7.8x	4.4x
Aegon	$12.8B	0.8x	7.4x
Mapfre	$12.7B	0.4x	n/a
Gjensidige Forsikring	$12.6B	3.2x	n/a
Globe Life	$12.6B	2.1x	8.0x
ICICI Prudential Life	$11.5B	2.0x	72.4x
Shin Kong Financial	$11.0B	7.5x	n/a
Kinsale Cap Group	$10.9B	7.2x	20.6x
ICICI Lombard	$10.8B	3.2x	47.2x
Old Republic International	$10.6B	1.2x	n/a
Assurant	$10.6B	0.9x	6.7x
China Taiping Insurance	$10.5B	0.7x	1.3x
American Financial Group	$10.5B	1.5x	n/a
Primerica	$10.3B	3.3x	n/a
Brookfield Wealth Solutions	$10.2B	n/a	n/a
Samsung Fire & Marine Insurance	$10.1B	0.8x	4.2x
Sanlam	$9.6B	3.0x	n/a
iA Financial Group	$9.3B	n/a	n/a
Medibank	$8.4B	1.5x	16.5x
Discovery	$8.3B	2.6x	n/a
Lincoln National	$8.3B	0.4x	4.3x
Jackson Financial	$7.9B	1.6x	4.5x
Caixa Seguridade	$7.9B	8.4x	10.0x
Beazley	$7.4B	1.1x	6.6x
AXIS Capital	$7.3B	1.2x	n/a
CNO Financial Group	$7.2B	1.9x	n/a
T&D Holdings	$7.2B	0.3x	6.0x
Radian Group	$7.0B	5.4x	n/a
Sunshine Insurance Group	$6.8B	0.6x	n/a
MGIC Investment Corp.	$6.7B	5.5x	n/a
The Hanover Insurance Group	$6.7B	1.1x	10.0x
Harel Group	$6.7B	1.7x	n/a
Bupa Arabia	$6.6B	1.3x	n/a
OUTsurance Group	$6.5B	5.9x	n/a
China Re	$6.5B	0.4x	n/a
Selective Insurance	$6.4B	1.3x	15.1x
Definity Financial	$6.3B	1.9x	n/a
Sinar Mas Multiartha	$6.3B	n/a	n/a
Enstar Group	$6.3B	n/a	n/a
Vienna Insurance Group	$6.3B	0.4x	n/a
Essent Group	$6.2B	4.9x	n/a
First American Financial	$6.1B	0.9x	11.5x
Wuestenrot & Wuerttembergische	$6.1B	1.2x	n/a
Max Financial Services	$6.0B	1.3x	717.4x
Brighthouse Financial	$5.8B	0.7x	3.3x
Assured Guaranty	$5.7B	6.6x	n/a
Grupo Catalana Occidente	$5.5B	0.9x	n/a
Porto Seguro	$5.5B	0.9x	6.8x
Enact Holdings	$5.5B	4.5x	n/a
Great Eastern Life	$5.3B	n/a	n/a
UNIQA Group	$5.3B	0.6x	n/a
Hiscox	$5.2B	1.0x	7.3x
Company for Cooperative Insurance	$5.0B	0.9x	n/a
Hapvida	$5.0B	0.9x	7.4x
White Mountains	$5.0B	n/a	n/a
Kemper	$4.9B	1.0x	n/a
Grupo SURA	$4.8B	0.4x	2.3x
E-L Financial	$4.5B	n/a	n/a
Palomar Holdings	$4.3B	2.5x	n/a
DB Insurance	$4.3B	0.4x	1.9x
Direct Line Group	$4.3B	0.9x	9.4x
Qualitas	$4.2B	1.2x	23.6x
Coface	$4.2B	2.1x	n/a
Thai Life Insurance	$3.7B	1.3x	8.7x
Alm Brand	$3.6B	2.1x	n/a
Digit Insurance	$3.6B	3.2x	37.5x
Inversiones La Construcción	$3.5B	1.2x	n/a
Menora Mivtachim	$3.5B	n/a	n/a
Protector Forsikring	$3.4B	2.7x	n/a
National MI	$3.4B	5.9x	n/a
Star Health Insurance	$3.3B	1.6x	-48.4x
EdelweissFin	$3.3B	n/a	n/a
Phoenix Financial	$3.2B	1.2x	n/a
F&G Annuities & Life	$3.2B	0.4x	n/a
Capital Financial	$3.0B	n/a	n/a
Al-Rajhi Co	$2.8B	n/a	n/a
Mercury Insurance	$2.8B	0.5x	n/a
Genworth Financial	$2.5B	0.3x	n/a
Skyward Specialty	$2.5B	1.4x	n/a
Santam	$2.4B	2.2x	6.8x
SiriusPoint	$2.4B	0.8x	n/a
Horace Mann	$2.3B	1.6x	n/a
Old Mutual	$2.2B	0.6x	n/a
Lemonade	$2.2B	3.7x	-15.0x
nib Group	$2.2B	1.0x	13.2x
Stewart Title	$2.1B	0.8x	10.3x
Vaudoise Assurances	$2.0B	n/a	n/a
Hyundai Fire & Marine	$1.9B	0.2x	n/a
Trupanion	$1.9B	1.4x	37.8x
Lancashire Holdings	$1.7B	0.8x	5.5x
Adris Grupa	$1.7B	n/a	n/a
Linea Directa Aseguradora	$1.6B	1.4x	24.9x
Fidelis Insurance	$1.6B	0.4x	n/a
BaoViet	$1.6B	0.9x	n/a
ProAssurance	$1.6B	1.7x	n/a
Oscar Health	$1.6B	0.2x	5.7x
New India Assurance	$1.5B	0.3x	n/a
Hamilton Insurance Group	$1.5B	0.6x	2.7x
Root Inc.	$1.5B	1.2x	14.8x
Grupo Nacional Provincial	$1.4B	0.2x	n/a
Zavarovalnica Triglav	$1.4B	0.9x	n/a
HCI Group	$1.3B	1.6x	n/a
Trisura Group	$1.3B	0.6x	n/a
Clover Health	$1.3B	0.8x	19.7x
Qatar Insurance Group	$1.2B	0.5x	n/a
Safety Insurance Group	$1.2B	1.0x	n/a
Momentum Group	$1.1B	n/a	n/a
Bowhead Specialty	$1.1B	1.6x	18.0x
Employers Holdings	$1.1B	1.2x	n/a
Grupo Assa	$1.1B	n/a	n/a
Abacus Global Management	$1.1B	7.4x	13.4x
Just Group	$1.0B	0.1x	n/a
Tiptree	$1.0B	n/a	n/a
Eurohold Bulgaria	$999M	n/a	n/a
Helia Group	$976M	5.9x	4.7x
Saga	$953M	1.1x	6.3x
International General Insurance	$948M	1.7x	n/a
Hagerty	$928M	0.7x	6.7x
Banvida	$923M	n/a	n/a
ADNIC	$874M	n/a	n/a
Phoenix Group plc	$869M	0.1x	n/a
AMERISAFE	$854M	2.9x	n/a
Crawford	$787M	0.6x	6.7x
Anadolu Hayat Emeklilik	$716M	n/a	n/a
Clal Insurance	$700M	n/a	n/a
Donegal Group	$680M	0.7x	n/a
Chesnara	$669M	3.0x	n/a
UFG Insurance	$647M	0.5x	n/a
Anadolu Anonim	$521M	0.2x	n/a
American Coastal	$509M	0.8x	n/a
AgeSA	$496M	n/a	n/a
REVO Insurance	$478M	1.3x	1.3x
Ambac Financial Group	$463M	4.2x	9.6x
James River Group	$463M	0.8x	65.4x
Universal Insurance Holdings	$461M	0.2x	n/a
Hippo Insurance	$455M	1.1x	-11.0x
Heritage Insurance	$428M	0.5x	n/a
Investors Title	$418M	n/a	n/a
Sabre Insurance Group	$386M	1.2x	5.5x
Global Indemnity Group	$365M	0.9x	6.3x
Vida Security	$281M	n/a	n/a
Nodak Insurance	$216M	n/a	n/a
weSure	$208M	n/a	n/a
Waterdrop	$190M	0.5x	5.0x
Citizens	$170M	0.7x	n/a
Bahrain National Holding	$165M	n/a	n/a
Firstcaution	$143M	n/a	n/a
Solid	$122M	1.1x	n/a
Nuernberger Beteiligungs	$101M	n/a	n/a
Atlantic Insurance Co	$99.9M	n/a	n/a
CIG Pannonia Life	$91.7M	n/a	n/a
Interlife Gen Insurance	$73.6M	n/a	n/a
OEKOWORLD	$71.8M	n/a	n/a
Aksigorta	$56.5M	n/a	n/a
RheinLand Holding	$18.8M	n/a	n/a
Nord Insuretech Group	$12.2M	n/a	n/a
Aviva	-$227M	-0.0x	n/a
Japan Post Insurance	-$2.1B	-0.0x	n/a
Migdal Group	-$3.1B	n/a	n/a
SDIC Capital	-$6.2B	n/a	n/a
Challenger	-$6.9B	-11.1x	-16.1x