Global Insurance Undiscovered Gems With Strong Fundamentals

MAPFRE Middlesea

Market Cap: €133.4m

Provides non-life and life insurance to individuals, small and medium enterprises, professionals, and businesses in Malta.

Arab Insurance Group (B.S.C.)

Market Cap: US$190.2m

Provides life and non-life reinsurance products and related services in the Afro Asia region.

INCAR FINANCIAL SERVICE

Market Cap: ₩360.5b

Operates as an independent insurance agency in South Korea.

National General Insurance (P.J.S.C.)

Market Cap: د.إ1.2b

Engages in underwriting various classes of life and general insurance, and reinsurance businesses in the United Arab Emirates.

Al-Ahleia Insurance CompanyK.P

Market Cap: د.ك168.4m

Engages in insurance and reinsurance operations in Kuwait.

Britam Holdings

Market Cap: KSh16.6b

An investment holding company, provides financial solutions in Kenya, Uganda, South Sudan, Rwanda, Tanzania, Malawi, and Mozambique.

Petrolimex Insurance

Market Cap: ₫2.8t

Provides various insurance products in Vietnam.

Ceylinco Holdings

Market Cap: LK₨66.6b

Ceylinco Holdings PLC underwrites various classes of general and life insurance products primarily in Sri Lanka.

QDM International

Market Cap: US$506.2m

Operates as an insurance brokerage company primarily in Hong Kong.

Liva Insurance

Market Cap: ر.س590.4m

Engages in the insurance and reinsurance businesses primarily in the Kingdom of Saudi Arabia.

SBI Insurance Group

Market Cap: JP¥24.9b

Provides various insurance products in Japan.

First Insurance

Market Cap: NT$8.1b

Engages in the provision of a range of insurance products and related services to commercial and personal line customers in Taiwan.

Saudi Reinsurance

Market Cap: ر.س5.1b

Provides various reinsurance products in the Kingdom of Saudi Arabia, rest of the Middle East, Africa, Asia, and internationally.

I.D.I. Insurance

Market Cap: ₪2.5b

Provides insurance products and services to individuals and corporate customers in Israel.

Votum

Market Cap: zł451.2m

Provides assistance for obtaining compensation.

Tiptree

Market Cap: US$812.5m

Through its subsidiaries, provides specialty insurance products and related services in the United States and Europe.

Agma

Market Cap: د.م1.4b

Engages in the insurance and reinsurance advisory and brokerage business in Morocco.

Asia Financial Holdings

Market Cap: HK$3.6b

An investment holding company, underwrites general and life insurance in Hong Kong, Macau, and Mainland China.

Farglory Life Insurance

Market Cap: NT$22.5b

Provides insurance products and services in Taiwan.

Ayalon Insurance

Market Cap: ₪1.2b

Through its subsidiaries, provides various insurance products in Israel.

Central Reinsurance

Market Cap: NT$20.3b

Provides various property and life inward and outward reinsurance services in Taiwan and internationally.

MSIG Life Insurance Indonesia

Market Cap: Rp12.8t

Provides life insurance products in Indonesia.

Shinkong Insurance

Market Cap: NT$33.8b

Provides property insurance to individuals and corporates in Taiwan.

Yunfeng Financial Group

Market Cap: HK$3.9b

An investment holding company, provides insurance products in Hong Kong and Macau.

Bao Viet Holdings

Market Cap: ₫33.1t

Through its subsidiaries, engages in insurance, financial, and real estate activities in Vietnam.

Wesure Global Tech

Market Cap: ₪632.9m

Engages in developing, characterizing, initiating, licensing, and marketing or technologies for digital platforms in the insurance and finance industry worldwide.

Atlantic Insurance Company

Market Cap: €93.5m

Provides insurance and financial services to individuals and businesses in Cyprus.

Guardian Holdings

Market Cap: TT$3.5b

Guardian Holdings Limited, together with its subsidiaries, underwrites various insurance products in Trinidad and Tobago, Jamaica, Barbados, Dutch Caribbean, Martinique, Grenada, curacao, the Netherlands, Aruba, Cayman Islands, Bermuda, Bahamas, and internationally.

Muang Thai Insurance

Market Cap: ฿6.3b

Provides non-life insurance products and services in Thailand.

Solidarity Bahrain B.S.C

Market Cap: ب.د62.0m

Engages in the provision of insurance products in Bahrain.

Peña Verde

Market Cap: Mex$3.0b

Offers insurance and reinsurance services in Mexico, Latin America, the Caribbean, and internationally.

Asuransi Multi Artha Guna

Market Cap: Rp1.7t

Provides general insurance in Indonesia.

Taiwan Fire & Marine Insurance

Market Cap: NT$11.5b

Provides various insurance products and services in Taiwan.

Qatar Islamic Insurance Group Q.P.S.C

Market Cap: ر.ق1.2b

Provides a range of insurance products and services in Qatar.

Doha Insurance Group Q.P.S.C

Market Cap: ر.ق1.2b

Engages in insurance and reinsurance businesses in Qatar, the United Arab Emirates, Lebanon, Luxembourg, and Jordan.

Arabian Shield Cooperative Insurance

Market Cap: ر.س1.4b

Provides various insurance products in the Kingdom of Saudi Arabia.