🚀 VC round data is live in beta, check it out!

Public Comps and Valuation Multiples for Insurance Carriers

Benchmark revenue and EBITDA valuation multiples for public comps like
Berkshire Hathaway, Allianz, China Life, Ping An Insurance and Chubb.

Select Vertical

Insurance Carriers

Viewing 50 of 250 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Berkshire Hathaway	$1.1T	$1.1T	$371B	3.0x	—
Allianz	$163B	$167B	$221B	0.8x	8.1x
China Life	$161B	$152B	$94B	1.6x	6.3x
Ping An Insurance	$159B	$225B	$149B	1.5x	—
Chubb	$134B	$154B	$56B	2.8x	11.8x
Progressive	$125B	$132B	$85B	1.6x	8.9x
AIA Group	$113B	$119B	$22B	5.3x	13.5x
Zurich Insurance Group	$104B	$112B	$64B	1.8x	23.6x
AXA	$98B	$161B	$125B	1.3x	12.3x
Munich Re	$84B	$86B	$82B	1.0x	8.3x
Cigna Group	$77B	$105B	$277B	0.4x	8.3x
Tokio Marine	$75B	$71B	$53B	1.3x	8.3x
Travelers	$67B	$76B	$45B	1.7x	9.3x
Elevance Health	$65B	$87B	$197B	0.4x	9.0x
Generali	$61B	$96B	$114B	0.8x	10.5x
Aflac	$59B	($37B)	$17B	(2.1x)	(7.2x)
Life Insurance Corporation of India	$59B	$53B	$103B	0.5x	—
Manulife	$58B	$54B	$26B	2.1x	22.2x
Allstate	$55B	$64B	$60B	1.1x	5.4x
China Pacific Insurance	$52B	$49B	$62B	0.8x	6.2x
People's Insurance Co	$51B	$54B	$93B	0.6x	—
MetLife	$48B	$63B	$78B	0.8x	6.9x
PICC Property & Casualty	$45B	$46B	$75B	0.6x	5.4x
AIG	$44B	$51B	$28B	1.9x	11.0x
Great-West Lifeco	$43B	$49B	$4B	14.0x	—
Fubon Financial	$41B	$55B	$12B	4.7x	—
MS&AD Insurance Group	$40B	$33B	$43B	0.8x	6.5x
The Hartford	$39B	$44B	$29B	1.5x	9.3x
Prudential plc	$37B	$37B	$4B	8.4x	10.5x
Arch Capital Group	$36B	$39B	$17B	2.3x	9.2x
Sun Life	$36B	$46B	$4B	10.7x	11.5x
Cathay Financial Holdings	$36B	$49B	$12B	4.0x	—
Fairfax Financial	$36B	$36B	$34B	1.1x	—
Prudential	$35B	$56B	$58B	1.0x	6.5x
Dai-ichi Life	$35B	$30B	$65B	0.5x	7.6x
Sompo Holdings	$34B	$30B	$32B	0.9x	5.7x
Intact Financial Corp.	$34B	$38B	$18B	2.1x	11.8x
Talanx	$32B	$35B	$57B	0.6x	5.5x
Power Corporation of Canada	$32B	$44B	$14B	3.1x	—
Swiss Life	$31B	$38B	$27B	1.4x	—
New China Life Insurance	$30B	$29B	$22B	1.3x	4.0x
Sampo	$28B	$30B	$11B	2.8x	11.1x
WR Berkley	$28B	$28B	$13B	2.2x	9.4x
Aviva	$28B	$9B	$55B	0.2x	3.1x
Samsung Life Insurance	$27B	$39B	$707M	55.0x	—
Markel Group	$26B	$26B	$11B	2.5x	—
Cincinnati Financial	$26B	$26B	$10B	2.5x	—
QBE Insurance	$23B	$25B	$19B	1.3x	9.8x
Loews Corporation	$23B	$32B	$18B	1.7x	—
Humana Inc.	$23B	$31B	$137B	0.2x	8.1x
SBI Life Insurance	$22B	$X.XB	$11B	X.Xx	X.Xx
Centene	$22B	$X.XB	$194B	X.Xx	X.Xx
NN Group	$21B	$X.XB	$16B	X.Xx	X.Xx
Jio Financial Services	$17B	$X.XB	$307M	X.Xx	X.Xx
HDFC Life Insurance	$17B	$X.XB	$8B	X.Xx	X.Xx
Unipol	$17B	$X.XB	$20B	X.Xx	X.Xx
Samsung Fire & Marine Insurance	$16B	$X.XB	$11B	X.Xx	X.Xx
PZU	$15B	$X.XB	$8B	X.Xx	X.Xx
Tryg	$15B	$X.XB	$6B	X.Xx	X.Xx
ASR Nederland	$14B	$X.XB	$7B	X.Xx	X.Xx
IAMGOLD	$14B	$X.XB	$13B	X.Xx	X.Xx
Erie Insurance	$14B	$X.XB	$4B	X.Xx	X.Xx
Gjensidige Forsikring	$14B	$X.XB	$5B	X.Xx	X.Xx
Fidelity National Financial	$14B	$X.XB	$15B	X.Xx	X.Xx
Everest Group	$14B	$X.XB	$17B	X.Xx	X.Xx
Mapfre	$14B	$X.XB	$34B	X.Xx	X.Xx
ageas	$14B	$X.XB	$10B	X.Xx	X.Xx
CNA Financial	$13B	$X.XB	—	X.Xx	X.Xx
Phoenix Financial	$13B	$X.XB	$3B	X.Xx	X.Xx
BB Seguros	$13B	$X.XB	$2B	X.Xx	X.Xx
Admiral Group	$12B	$X.XB	$8B	X.Xx	X.Xx
UnumGroup	$12B	$X.XB	$13B	X.Xx	X.Xx
Great Eastern Life	$12B	$X.XB	—	X.Xx	X.Xx
Globe Life	$12B	$X.XB	$6B	X.Xx	X.Xx
Assurant	$12B	$X.XB	$13B	X.Xx	X.Xx
Sanlam	$12B	$X.XB	$1B	X.Xx	X.Xx
T&D Holdings	$11B	$X.XB	$20B	X.Xx	X.Xx
Equitable Holdings	$11B	$X.XB	$13B	X.Xx	X.Xx
Aegon	$11B	$X.XB	$23B	X.Xx	X.Xx
American Financial Group	$11B	$X.XB	$7B	X.Xx	X.Xx
Insurance Australia Group	$11B	$X.XB	$12B	X.Xx	X.Xx
Suncorp Group	$11B	$X.XB	$10B	X.Xx	X.Xx
Brookfield Wealth Solutions	$11B	$X.XB	—	X.Xx	X.Xx
Japan Post Insurance	$11B	$X.XB	$37B	X.Xx	X.Xx
Harel Group	$11B	$X.XB	$5B	X.Xx	X.Xx
Old Republic International	$11B	$X.XB	$9B	X.Xx	X.Xx
China Taiping Insurance	$10B	$X.XB	$16B	X.Xx	X.Xx
iA Financial Corp	$10B	$X.XB	$13B	X.Xx	X.Xx
ICICI Prudential Life	$10B	$X.XB	$6B	X.Xx	X.Xx
Caixa Seguridade	$10B	$X.XB	$1B	X.Xx	X.Xx
KGI Financial	$10B	$X.XB	$2B	X.Xx	X.Xx
Beazley	$10B	$X.XB	$6B	X.Xx	X.Xx
ICICI Lombard General	$10B	$X.XB	$3B	X.Xx	X.Xx
Discovery	$10B	$X.XB	$3B	X.Xx	X.Xx
Vienna Insurance Group	$10B	$X.XB	$19B	X.Xx	X.Xx
Kinsale Cap Group	$9B	$X.XB	$2B	X.Xx	X.Xx
Menora Mivtachim	$9B	$X.XB	—	X.Xx	X.Xx
China Re	$9B	$X.XB	—	X.Xx	X.Xx
Medibank	$9B	$X.XB	$6B	X.Xx	X.Xx
AXIS Capital	$8B	$X.XB	$7B	X.Xx	X.Xx
Primerica	$8B	$X.XB	$3B	X.Xx	X.Xx
Jackson Financial	$8B	$X.XB	$7B	X.Xx	X.Xx
DB Insurance	$7B	$X.XB	$844M	X.Xx	X.Xx
First American Financial	$7B	$X.XB	$8B	X.Xx	X.Xx
SDIC Capital	$7B	$X.XB	$2B	X.Xx	X.Xx
Max Financial Services	$7B	$X.XB	$5B	X.Xx	X.Xx
Sony Financial	$7B	$X.XB	—	X.Xx	X.Xx
Hiscox	$7B	$X.XB	—	X.Xx	X.Xx
Bupa Arabia	$7B	$X.XB	$5B	X.Xx	X.Xx
Lincoln National	$7B	$X.XB	$19B	X.Xx	X.Xx
OUTsurance Group	$7B	$X.XB	$2B	X.Xx	X.Xx
Porto	$6B	$X.XB	$7B	X.Xx	X.Xx
The Hanover Insurance Group	$6B	$X.XB	$6B	X.Xx	X.Xx
Clal Insurance	$6B	$X.XB	—	X.Xx	X.Xx
Catalana Occidente	$6B	$X.XB	—	X.Xx	X.Xx
Migdal Group	$6B	$X.XB	—	X.Xx	X.Xx
Enact Holdings	$6B	$X.XB	$1B	X.Xx	X.Xx
Definity Financial	$6B	$X.XB	$3B	X.Xx	X.Xx
FWD Group Holdings	$6B	$X.XB	$3B	X.Xx	X.Xx
MGIC Investment Corp.	$6B	$X.XB	$1B	X.Xx	X.Xx
UNIQA Group	$6B	$X.XB	$8B	X.Xx	X.Xx
Essent Group	$6B	$X.XB	$1B	X.Xx	X.Xx
RLI	$6B	$X.XB	$2B	X.Xx	X.Xx
Company for Cooperative Insurance	$6B	$X.XB	$6B	X.Xx	X.Xx
White Mountains	$6B	$X.XB	—	X.Xx	X.Xx
Sunshine Insurance Group	$6B	$X.XB	$13B	X.Xx	X.Xx
Selective Insurance	$5B	$X.XB	$5B	X.Xx	X.Xx
Mercury Insurance	$5B	$X.XB	$6B	X.Xx	X.Xx
Sinar Mas Multiartha	$5B	$X.XB	—	X.Xx	X.Xx
Radian Group	$5B	$X.XB	$1B	X.Xx	X.Xx
Bank of Cyprus	$5B	$X.XB	$1B	X.Xx	X.Xx
Capital Financial	$5B	$X.XB	—	X.Xx	X.Xx
E-L Financial	$4B	$X.XB	—	X.Xx	X.Xx
Protector Forsikring	$4B	$X.XB	$2B	X.Xx	X.Xx
Challenger	$4B	$X.XB	$684M	X.Xx	X.Xx
Oscar Health	$4B	$X.XB	$13B	X.Xx	X.Xx
Grupo SURA	$4B	$X.XB	$9B	X.Xx	X.Xx
Lemonade	$4B	$X.XB	$841M	X.Xx	X.Xx
Assured Guaranty	$4B	$X.XB	$1B	X.Xx	X.Xx
CNO Financial Group	$4B	$X.XB	$4B	X.Xx	X.Xx
Old Mutual	$4B	$X.XB	$4B	X.Xx	X.Xx
Thai Life Insurance	$4B	$X.XB	$2B	X.Xx	X.Xx
Qualitas	$4B	$X.XB	$4B	X.Xx	X.Xx
Alm Brand	$4B	$X.XB	$2B	X.Xx	X.Xx
Brighthouse Financial	$3B	$X.XB	$9B	X.Xx	X.Xx
Aspen Insurance	$3B	$X.XB	—	X.Xx	X.Xx
Palomar Holdings	$3B	$X.XB	$2B	X.Xx	X.Xx
Genworth Financial	$3B	$X.XB	$7B	X.Xx	X.Xx
Go Digit Insurance	$3B	$X.XB	$1B	X.Xx	X.Xx
Hamilton Insurance Group	$3B	$X.XB	$3B	X.Xx	X.Xx
F&G Annuities & Life	$3B	$X.XB	$9B	X.Xx	X.Xx
Just Group	$3B	$X.XB	$6B	X.Xx	X.Xx
National MI	$3B	$X.XB	$609M	X.Xx	X.Xx
Star Health and Allied	$3B	$X.XB	$2B	X.Xx	X.Xx
Neptune Insurance Hldgs	$3B	$X.XB	$167M	X.Xx	X.Xx
Türkiye Sigorta	$3B	$X.XB	$3B	X.Xx	X.Xx
Momentum Group	$3B	$X.XB	—	X.Xx	X.Xx
Vaudoise Assurances	$3B	$X.XB	—	X.Xx	X.Xx
Santam	$3B	$X.XB	$2B	X.Xx	X.Xx
Accelerant	$3B	$X.XB	$938M	X.Xx	X.Xx
New India Assurance	$3B	$X.XB	$5B	X.Xx	X.Xx
Coface	$3B	$X.XB	$2B	X.Xx	X.Xx
SiriusPoint	$3B	$X.XB	$4B	X.Xx	X.Xx
BaoViet	$2B	$X.XB	$2B	X.Xx	X.Xx
HCI Group	$2B	$X.XB	$922M	X.Xx	X.Xx
nib Group	$2B	$X.XB	$3B	X.Xx	X.Xx
Lancashire Holdings	$2B	$X.XB	—	X.Xx	X.Xx
Skyward Specialty	$2B	$X.XB	$2B	X.Xx	X.Xx
Inversiones La Construcción	$2B	$X.XB	—	X.Xx	X.Xx
Stewart Title	$2B	$X.XB	$3B	X.Xx	X.Xx
Qatar Insurance Group	$2B	$X.XB	$3B	X.Xx	X.Xx
Al Rajhi Takaful	$2B	$X.XB	—	X.Xx	X.Xx
Fidelis Insurance	$2B	$X.XB	$5B	X.Xx	X.Xx
Kemper	$2B	$X.XB	$5B	X.Xx	X.Xx
Wafa Assurance SA	$2B	$X.XB	—	X.Xx	X.Xx
Hyundai Fire & Marine	$2B	$X.XB	$6B	X.Xx	X.Xx
Horace Mann	$2B	$X.XB	$1B	X.Xx	X.Xx
Zavarovalnica Triglav	$2B	$X.XB	$2B	X.Xx	X.Xx
Wuestenrot & Wuerttembergische	$2B	$X.XB	$5B	X.Xx	X.Xx
Pacífico Seguros	$2B	$X.XB	—	X.Xx	X.Xx
Vivir Seguros	$2B	$X.XB	—	X.Xx	X.Xx
Nuernberger Beteiligungs	$2B	$X.XB	$3B	X.Xx	X.Xx
Trisura Group	$2B	$X.XB	$2B	X.Xx	X.Xx
Línea Directa	$2B	$X.XB	$1B	X.Xx	X.Xx
MAPFRE Perú	$2B	$X.XB	—	X.Xx	X.Xx
Grupo Nacional Provincial	$1B	$X.XB	$8B	X.Xx	X.Xx
Grupo Assa	$1B	$X.XB	—	X.Xx	X.Xx
Banvida	$1B	$X.XB	—	X.Xx	X.Xx
ProAssurance	$1B	$X.XB	$915M	X.Xx	X.Xx
ADNIC	$1B	$X.XB	—	X.Xx	X.Xx
Hagerty	$1B	$X.XB	$1B	X.Xx	X.Xx
Anadolu Sigorta	$1B	$X.XB	$2B	X.Xx	X.Xx
Helia Group	$1B	$X.XB	$186M	X.Xx	X.Xx
Trupanion	$1B	$X.XB	$1B	X.Xx	X.Xx
Safety Insurance Group	$1B	$X.XB	$1B	X.Xx	X.Xx
Ategrity Specialty	$1B	$X.XB	$577M	X.Xx	X.Xx
Anadolu Hayat Emeklilik	$1B	$X.XB	$524M	X.Xx	X.Xx
International General Insurance	$1B	$X.XB	$501M	X.Xx	X.Xx
Clover Health	$1B	$X.XB	$2B	X.Xx	X.Xx
IDI Insurance	$1B	$X.XB	—	X.Xx	X.Xx
Universal Insurance Holdings	$1B	$X.XB	$2B	X.Xx	X.Xx
Saga	$1B	$X.XB	$913M	X.Xx	X.Xx
UFG Insurance	$997M	$X.XB	$1B	X.Xx	X.Xx
Chesnara	$990M	$X.XB	—	X.Xx	X.Xx
Heritage Insurance	$891M	$X.XB	$856M	X.Xx	X.Xx
Rímac Seguros	$875M	$X.XB	—	X.Xx	X.Xx
Hapvida	$873M	$X.XB	$6B	X.Xx	X.Xx
AgeSA	$854M	$X.XB	—	X.Xx	X.Xx
Ray Sigorta	$852M	$X.XB	—	X.Xx	X.Xx
Employers Holdings	$848M	$X.XB	$855M	X.Xx	X.Xx
REVO Insurance	$845M	$X.XB	$471M	X.Xx	X.Xx
Bowhead Specialty	$830M	$X.XB	$880M	X.Xx	X.Xx
weSure	$821M	$X.XB	—	X.Xx	X.Xx
Abacus Global Management	$810M	$X.XB	$247M	X.Xx	X.Xx
Root Inc.	$804M	$X.XB	$2B	X.Xx	X.Xx
Hippo Insurance	$729M	$X.XB	$495M	X.Xx	X.Xx
AMERISAFE	$675M	$X.XB	$320M	X.Xx	X.Xx
Waterdrop	$655M	$X.XB	$517M	X.Xx	X.Xx
Donegal Group	$641M	$X.XB	$911M	X.Xx	X.Xx
Tiptree	$637M	$X.XB	—	X.Xx	X.Xx
American Coastal	$563M	$X.XB	$601M	X.Xx	X.Xx
Crawford	$522M	$X.XB	$1B	X.Xx	X.Xx
Sabre Insurance Group	$445M	$X.XB	$279M	X.Xx	X.Xx
Investors Title	$431M	$X.XB	—	X.Xx	X.Xx
American Integrity	$414M	$X.XB	$949M	X.Xx	X.Xx
Kingsway Financial Services	$350M	$X.XB	—	X.Xx	X.Xx
MBIA	$336M	$X.XB	$28M	X.Xx	X.Xx
Eurohold Bulgaria	$320M	$X.XB	—	X.Xx	X.Xx
Aksigorta	$293M	$X.XB	$853M	X.Xx	X.Xx
Dunav Osiguranje	$292M	$X.XB	—	X.Xx	X.Xx
Citizens	$291M	$X.XB	$257M	X.Xx	X.Xx
Nodak Insurance	$274M	$X.XB	—	X.Xx	X.Xx
Kingstone Companies	$233M	$X.XB	$288M	X.Xx	X.Xx
Helios Underwriting	$207M	$X.XB	$43M	X.Xx	X.Xx
Solid Försäkring	$204M	$X.XB	$119M	X.Xx	X.Xx
OEKOWORLD	$202M	$X.XB	—	X.Xx	X.Xx
General de Seguros	$174M	$X.XB	—	X.Xx	X.Xx
La Positiva Seguros	$173M	$X.XB	—	X.Xx	X.Xx
Bahrain National Holding	$168M	$X.XB	—	X.Xx	X.Xx
RheinLand Holding	$147M	$X.XB	—	X.Xx	X.Xx
Interlife Gen Insurance	$138M	$X.XB	—	X.Xx	X.Xx
Atlantic Insurance	$105M	$X.XB	—	X.Xx	X.Xx
CIG Pannonia Life	$103M	$X.XB	—	X.Xx	X.Xx
Firstcaution	$96M	$X.XB	—	X.Xx	X.Xx
Nord Insuretech Group	$27M	$X.XB	—	X.Xx	X.Xx
STE Electricité	$11M	$X.XB	—	X.Xx	X.Xx
Sjova-Almennar tryggingar	—	$X.XB	—	X.Xx	X.Xx
Baloise Group	—	$X.XB	—	X.Xx	X.Xx
The Hartford	—	$X.XB	—	X.Xx	X.Xx
Skagi	—	$X.XB	—	X.Xx	X.Xx