Global Insurance Undervalued Small Caps

HCI Group

Market Cap: US$1.7b

Engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in the United States.

Waterdrop

Market Cap: US$506.3m

Through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People’s Republic of China.

Conduit Holdings

Market Cap: UK£589.2m

Through its subsidiary, provides reinsurance products and services worldwide.

Heritage Insurance Holdings

Market Cap: US$683.6m

Through its subsidiaries, provides personal and commercial residential insurance products.

Anicom Holdings

Market Cap: JP¥52.6b

Provides pet insurance products and services in Japan.