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	$1.13T	2.9x	n/a
Ping An Insurance	$207B	1.4x	n/a
Allianz	$161B	0.8x	8.2x
AXA	$155B	1.2x	12.1x
China Life Insurance	$144B	1.8x	10.6x
China Life Insurance Co	$144B	1.9x	10.6x
Progressive	$134B	1.6x	9.4x
Chubb	$132B	2.4x	10.5x
AIA Group	$115B	5.5x	13.3x
Zurich Insurance Group	$108B	1.7x	15.0x
Cigna Group	$98.7B	0.4x	7.7x
Elevance Health	$94.0B	0.5x	9.3x
Generali	$93.6B	0.8x	10.3x
Travelers	$71.1B	1.6x	9.7x
Aflac	$67.1B	3.7x	14.0x
MetLife	$67.1B	0.9x	7.6x
Tokio Marine Holdings	$67.0B	1.2x	7.6x
Allstate	$62.1B	1.0x	6.6x
Prudential Financial	$60.3B	1.0x	7.2x
Life Insurance Corporation of India	$59.4B	0.6x	n/a
PICC Property & Casualty	$55.7B	0.8x	7.1x
Fubon Financial	$53.7B	5.4x	n/a
People's Insurance Co	$53.6B	0.6x	n/a
People's Insurance Co.	$53.5B	0.6x	5.3x
Manulife	$53.4B	2.3x	13.1x
AIG	$49.2B	1.8x	10.1x
Cathay Financial Holdings	$43.8B	3.8x	n/a
Power Corporation of Canada	$43.6B	0.8x	n/a
China Pacific Insurance	$42.7B	0.7x	6.4x
The Hartford	$40.6B	1.4x	9.3x
Intact Financial Corp.	$40.0B	2.3x	13.4x
Great-West Lifeco	$39.9B	12.8x	n/a
Fairfax Financial	$37.9B	1.2x	n/a
Humana	$37.5B	0.3x	9.3x
Swiss Life	$37.5B	1.6x	n/a
Prudential	$35.8B	4.3x	10.7x
Talanx	$34.6B	0.6x	5.6x
Arch Capital Group	$34.6B	2.0x	8.5x
Sun Life Financial	$33.2B	4.8x	8.8x
Sampo	$31.9B	3.1x	15.2x
Samsung Life Insurance	$30.2B	33.1x	n/a
Loews Corporation	$30.1B	1.7x	n/a
WR Berkley	$29.0B	2.3x	9.8x
Sompo Holdings	$26.0B	0.8x	6.0x
Markel Group	$25.6B	1.6x	n/a
New China Life Insurance	$25.2B	1.3x	4.7x
Cincinnati Financial	$25.1B	2.6x	n/a
NN Group	$24.9B	1.5x	8.1x
SBI Life Insurance Co	$22.4B	2.1x	69.1x
QBE Insurance	$21.5B	1.1x	8.5x
MS&AD Insurance Group	$21.5B	0.5x	3.7x
ASR Nederland	$20.8B	2.1x	12.2x
Dai-ichi Life	$20.5B	0.3x	5.5x
Unipol	$20.0B	1.0x	n/a
HDFC Life Insurance	$18.4B	2.1x	1.6x
Fidelity National Financial	$17.4B	1.3x	n/a
Centene	$16.8B	0.1x	9.2x
UnumGroup	$16.5B	1.3x	9.1x
PZU	$16.3B	1.9x	n/a
Tryg	$15.8B	2.5x	14.7x
Everest Group	$15.7B	0.9x	7.7x
Mapfre	$15.2B	0.5x	n/a
CNA Financial	$15.2B	n/a	n/a
Baloise Group	$15.2B	1.5x	n/a
ageas	$14.7B	1.6x	n/a
Suncorp Group	$14.6B	1.6x	12.4x
Helvetia Group	$14.6B	1.1x	n/a
Erie Insurance	$14.4B	3.6x	n/a
Admiral Group	$14.3B	2.1x	12.7x
China Taiping Insurance	$13.6B	0.9x	1.7x
Insurance Australia Group	$13.6B	1.2x	9.7x
Gjensidige Forsikring	$13.6B	3.3x	n/a
Aegon	$13.3B	0.7x	6.9x
Globe Life	$12.9B	2.2x	7.8x
Samsung Fire & Marine Insurance	$12.6B	1.1x	5.6x
BB Seguros	$12.3B	7.0x	3.8x
KGI Financial	$12.1B	6.8x	n/a
American Financial Group	$11.9B	1.7x	n/a
Assurant	$11.7B	0.9x	7.3x
Old Republic International	$11.6B	1.3x	n/a
ICICI Lombard	$11.3B	3.4x	46.1x
iA Financial Group	$10.8B	n/a	n/a
ICICI Prudential Life	$10.3B	1.8x	63.3x
Harel Group	$10.2B	2.3x	n/a
Sanlam	$10.0B	2.5x	n/a
Primerica	$9.4B	2.9x	n/a
Kinsale Cap Group	$9.3B	5.8x	15.2x
Jackson Financial	$9.1B	1.3x	4.9x
AXIS Capital	$8.9B	1.4x	n/a
China Re	$8.9B	0.5x	n/a
Aviva	$8.8B	0.2x	n/a
Medibank Pvt	$8.6B	1.5x	16.8x
Caixa Seguridade	$8.4B	8.1x	9.7x
Discovery	$8.3B	2.7x	n/a
Phoenix Financial	$8.0B	2.7x	n/a
Radian Group	$7.9B	6.2x	n/a
Sony Financial	$7.7B	n/a	n/a
FWD Group Holdings	$7.7B	n/a	n/a
Great Eastern Life	$7.6B	n/a	n/a
Clal Insurance	$7.5B	n/a	n/a
Wuestenrot & Wuerttembergische	$7.4B	1.4x	n/a
Grupo SURA	$7.4B	0.9x	4.6x
T&D Holdings	$7.2B	0.3x	6.0x
Menora Mivtachim	$7.1B	n/a	n/a
Equitable Holdings	$6.9B	0.5x	2.6x
Sunshine Insurance Group	$6.9B	0.5x	n/a
CNO Financial Group	$6.8B	1.7x	n/a
The Hanover Insurance Group	$6.8B	1.1x	7.9x
MGIC Investment Corp.	$6.7B	5.4x	n/a
Definity Financial	$6.6B	2.0x	n/a
Beazley	$6.6B	1.1x	6.2x
Vienna Insurance Group	$6.5B	0.4x	n/a
Essent Group	$6.4B	5.1x	n/a
DB Insurance	$6.3B	6.5x	3.3x
Max Financial Services	$6.3B	1.4x	734.3x
Bupa Arabia	$6.2B	1.3x	n/a
First American Financial	$6.2B	0.9x	11.8x
OUTsurance Group	$6.2B	3.7x	n/a
Selective Insurance	$5.8B	1.2x	10.5x
RLI	$5.8B	2.8x	n/a
Grupo Catalana Occidente	$5.7B	0.8x	n/a
Porto Seguro	$5.7B	0.8x	6.6x
Assured Guaranty	$5.6B	6.3x	n/a
Brookfield Wealth Solutions	$5.6B	n/a	n/a
Enact Holdings	$5.5B	4.5x	n/a
Hiscox	$5.4B	1.1x	7.2x
Lemonade	$5.4B	7.8x	-40.1x
Brighthouse Financial	$5.4B	0.6x	3.4x
UNIQA Group	$5.3B	0.5x	n/a
White Mountains	$5.3B	n/a	n/a
Sinar Mas Multiartha	$5.2B	n/a	n/a
Company for Cooperative Insurance	$4.8B	0.9x	n/a
E-L Financial	$4.5B	n/a	n/a
F&G Annuities & Life	$4.5B	0.8x	n/a
Hapvida	$4.2B	0.7x	6.0x
Coface	$4.2B	2.1x	n/a
Alm Brand	$4.1B	2.2x	n/a
Neptune Insurance Hldgs	$4.0B	n/a	n/a
Mercury Insurance	$4.0B	0.7x	n/a
Lincoln National	$3.9B	0.2x	1.9x
Protector Forsikring	$3.8B	2.8x	n/a
Go Digit Insurance	$3.8B	3.3x	40.8x
Digit Insurance	$3.8B	3.3x	40.8x
MBIA	$3.7B	137.5x	n/a
Qualitas	$3.6B	0.9x	16.7x
Oscar Health	$3.6B	0.3x	-26.2x
Inversiones La Construcción	$3.6B	1.2x	n/a
Aspen Insurance	$3.5B	1.0x	n/a
Capital Financial	$3.5B	n/a	n/a
Palomar Holdings	$3.3B	1.8x	n/a
Genworth Financial	$3.3B	0.4x	n/a
Thai Life Insurance	$3.3B	1.0x	7.7x
Star Health Insurance	$3.3B	1.6x	-78.1x
EdelweissFin	$3.2B	n/a	n/a
Japan Post Insurance	$3.1B	0.1x	2.6x
National MI	$3.1B	5.2x	n/a
Hyundai Fire & Marine	$3.1B	0.5x	n/a
Kemper	$3.0B	0.6x	n/a
Al-Rajhi Co	$2.7B	n/a	n/a
SiriusPoint	$2.6B	0.9x	n/a
Santam	$2.5B	1.0x	6.7x
nib Group	$2.4B	1.0x	14.1x
Stewart Title	$2.4B	0.8x	11.7x
Horace Mann	$2.4B	1.7x	n/a
Vaudoise Assurances	$2.2B	n/a	n/a
Just Group	$2.0B	0.2x	n/a
Lancashire Holdings	$1.9B	0.9x	6.2x
Accelerant Holdings	$1.9B	n/a	n/a
Adris Grupa	$1.9B	n/a	n/a
Fidelis Insurance	$1.9B	0.5x	n/a
Skyward Specialty	$1.9B	1.0x	n/a
Hamilton Insurance Group	$1.8B	0.6x	2.7x
Old Mutual	$1.7B	0.5x	n/a
ProAssurance	$1.6B	1.7x	n/a
Zavarovalnica Triglav	$1.6B	0.8x	n/a
BaoViet	$1.5B	0.9x	n/a
HCI Group	$1.4B	1.6x	n/a
Trupanion	$1.4B	1.0x	21.2x
New India Assurance	$1.4B	0.3x	n/a
Grupo Nacional Provincial	$1.4B	0.2x	n/a
Linea Directa Aseguradora	$1.3B	1.1x	17.4x
Hagerty	$1.3B	1.0x	7.9x
Trisura Group	$1.3B	0.6x	n/a
Grupo Assa	$1.2B	n/a	n/a
Saga	$1.2B	1.3x	6.8x
Safety Insurance Group	$1.1B	0.9x	n/a
IDI Insurance	$1.1B	n/a	n/a
Banvida	$1.1B	n/a	n/a
Clover Health	$1.0B	0.6x	38.6x
Eurohold Bulgaria	$1.0B	n/a	n/a
ADNIC	$1.0B	n/a	n/a
Abacus Global Management	$911M	4.5x	8.0x
Helia Group	$903M	4.3x	3.9x
Chesnara	$897M	4.1x	n/a
Tiptree	$872M	n/a	n/a
Anadolu Hayat Emeklilik	$865M	n/a	n/a
Nuernberger Beteiligungs	$861M	n/a	n/a
Ategrity Specialty	$823M	n/a	n/a
UFG Insurance	$814M	0.6x	n/a
Crawford	$774M	0.6x	6.1x
Root Inc.	$774M	0.5x	7.0x
International General Insurance	$756M	1.4x	n/a
AgeSA	$750M	n/a	n/a
AMERISAFE	$712M	2.3x	n/a
Employers Holdings	$700M	0.8x	n/a
Donegal Group	$680M	0.7x	n/a
Momentum Group	$668M	0.9x	0.8x
Hippo Insurance	$664M	1.5x	-24.5x
Bowhead Specialty	$650M	0.9x	8.9x
Universal Insurance Holdings	$638M	0.3x	n/a
Qatar Insurance Group	$638M	0.2x	n/a
REVO Insurance	$571M	1.3x	1.3x
Investors Title	$509M	n/a	n/a
Ambac Financial Group	$497M	5.7x	40.9x
Ray Sigorta	$486M	n/a	n/a
James River Group	$477M	0.8x	7.2x
American Coastal	$477M	0.7x	n/a
Heritage Insurance	$454M	0.5x	n/a
Kingsway Financial Servs	$441M	n/a	n/a
weSure	$432M	n/a	n/a
Phoenix Group plc	$417M	0.1x	n/a
Sabre Insurance Group	$370M	1.3x	5.8x
Waterdrop	$356M	0.8x	6.5x
Anadolu Anonim	$309M	0.1x	n/a
Citizens	$285M	1.1x	n/a
Dunav Osiguranje	$261M	n/a	n/a
American Integrity	$232M	0.3x	n/a
Nodak Insurance	$216M	n/a	n/a
Helios Underwriting	$210M	4.4x	n/a
Kingstone Companies	$181M	0.7x	n/a
Firstcaution	$176M	n/a	n/a
Ste Assurances Multirisques Ittihad SA	$164M	n/a	n/a
Bahrain National Holding	$158M	n/a	n/a
Solid	$122M	1.1x	n/a
Interlife Gen Insurance	$96.1M	n/a	n/a
Atlantic Insurance Co	$95.8M	n/a	n/a
CIG Pannonia Life	$95.4M	n/a	n/a
Aksigorta	$92.4M	n/a	n/a
OEKOWORLD	$19.6M	n/a	n/a
Nord Insuretech Group	$14.5M	n/a	n/a
RheinLand Holding	$13.2M	n/a	n/a
Migdal Group	-$3.9B	n/a	n/a
SDIC Capital	-$8.8B	n/a	n/a
Challenger	-$11.7B	-18.0x	-26.3x