Valuation Trading Multiples & Precedent Transactions: Specialty Property and Casualty Insurers
Valuation benchmarks for Specialty Property and Casualty Insurers. Access public trading comps, EV/EBITDA acquisition multiples, and private market data for pitch books and valuation analysis.
1.1 - Specialty Property and Casualty Insurers Market Context & Valuation Drivers
Companies in this trading comparables group are public specialty property and casualty insurers focused on underwriting non-standard, niche, and complex risks. They generate revenue through written premiums, fees, and investment income, balancing risk with reinsurance and disciplined underwriting. They are grouped as valuation benchmarks due to similar regulated carrier models, portfolio diversification across specialty lines, and reliance on combined ratio performance, capital adequacy, and reserving practices.
Typical capabilities include underwriting excess and surplus lines, property and casualty coverage, cyber and professional liability solutions, marine insurance, auto and homeowners offerings, and mortgage insurance. These carriers manage claims, employ actuarial risk modeling, purchase reinsurance, and run program services through brokers and MGAs. Many also provide medical stop-loss, lender-placed, and device protection, supported by capital management, catastrophe risk analytics, and multi-channel distribution.
Primary customers include small and mid-sized businesses, large corporates and multinationals, financial institutions and mortgage lenders, and consumers. Key valuation drivers are gross written premium growth, combined and loss ratios, expense efficiency, reserve development, catastrophe exposure, policy retention, and return on equity. Analysts use these public trading comparables to assess underwriting profitability, capital leverage, and pricing cycles across specialty insurance markets.
2. Valuation Analysis: Public Trading Comps & Multiples for Specialty Property and Casualty Insurers companies
2.1 - Public Peer Groups & Median Valuation Multiples for Specialty Property and Casualty Insurers sector
Comparable group 1: Specialty Property and Casualty Insurers
QBE Insurance
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of general insurance and reinsurance solutions, offering products across commercial, personal, and specialty lines in various international markets to manage and mitigate risk effectively.
- Key Products:
- General Insurance: Covers commercial, personal, and specialty risks globally
- Reinsurance Services: Offers reinsurance to manage risk portfolios
- Medical Stop Loss: Provides medical stop loss products for businesses
- Property Casualty: Offers coverage including property, workers' compensation, and commercial auto
- Risk Management Solutions: Delivers on-site wellbeing and risk prevention programs.
Beazley
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of specialist insurance solutions, underwriting a broad range of risks including cyber, marine, property, and specialty lines across Europe, North America, and Asia. The company focuses on innovative risk management and a deep understanding of client needs to deliver customized insurance coverage.
- Key Products:
- Cyber Insurance: Comprehensive cyber risk coverage including data breach and liability protection
- Marine Insurance: Specialized coverage for marine and shipping industries including hull, cargo, and liability
- Property Insurance: Coverage for buildings, equipment, and business interruption
- Specialty Lines: Including professional liability, management liability, and environmental liability
- Healthcare Insurance: Coverage for medical malpractice, healthcare facilities, and life sciences.