Global Insurance Undiscovered Gems With Strong Fundamentals

Asuransi Bina Dana Arta

Market Cap: Rp2.0t

Operates as a general insurance company in Indonesia.

Asuransi Multi Artha Guna

Market Cap: Rp1.9t

Provides general insurance in Indonesia.

Custodian Investment

Market Cap: ₦229.4b

Through its subsidiaries, provides insurance products and services in Nigeria.

Qatar Islamic Insurance Group Q.P.S.C

Market Cap: ر.ق1.3b

Provides a range of insurance products and services in Qatar.

Doha Insurance Group Q.P.S.C

Market Cap: ر.ق1.3b

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

Mohandes Insurance

Market Cap: ج.م6.2b

Provides life and general insurance products in Egypt.

Banvida

Market Cap: CL$982.7b

Provides financial services in Chile.

PVI Holdings

Market Cap: ₫21.7t

Operates as a non-life insurance provider in Vietnam.

Bank for Investment and Development of Vietnam Insurance

Market Cap: ₫4.4t

Engages in non-life insurance, reinsurance, financial investment, and other activities in Vietnam.

Military Insurance

Market Cap: ₫3.6t

Provides non-life insurance products and services in Vietnam.

Kenya Reinsurance

Market Cap: KSh16.7b

Engages in the underwriting of various classes of reinsurance and investments activities in Africa, the Middle East, and Asia.

Jubilee Holdings

Market Cap: KSh22.6b

An investment holding company, underwrites life and non-life insurance risks associated with death, disability, health, property, and liability.

Kompanija Dunav Osiguranje a.d.o

Market Cap: дин26.5b

Provides various insurance, reinsurance, co-insurance, and other insurance products and services in Serbia.

Firstcaution

Market Cap: €232.4m

Provides rental guarantee services in Switzerland.

Al Khaleej Takaful Insurance Company Q.P.S.C

Market Cap: ر.ق581.3m

Engages in the insurance, reinsurance, and takaful insurance businesses for individuals and corporates in Qatar.

Ray Sigorta Anonim Sirketi

Market Cap: ₺37.1b

Engages in the non-life insurance business in Turkey.

Sagicor Group Jamaica

Market Cap: JA$156.0b

Provides various financial services in Jamaica, the Cayman Islands, Costa Rica, Barbados, and Panama.

Adamjee Insurance

Market Cap: PK₨28.5b

Engages in the general insurance business in Pakistan and the United Arab Emirates.

Emirates Insurance Company P.J.S.C

Market Cap: د.إ1.1b

Engages in writing general insurance and reinsurance in the United Arab Emirates, the United States, and Europe.

Kuwait Reinsurance Company K.S.C.P

Market Cap: د.ك128.3m

Provides reinsurance services in Kuwait, the Middle East, North Africa, and internationally.

Clientèle

Market Cap: R6.1b

Through its subsidiaries, engages in the provision of financial services in South Africa.

Sukoon Insurance PJSC

Market Cap: د.إ1.7b

Provides insurance solutions to individuals and businesses in the United Arab Emirates.

Damaan Islamic Insurance Company Beema (Q.P.S.C.)

Market Cap: ر.ق840.0m

Provides a range of insurance products and services in Qatar.

Investors Title

Market Cap: US$486.9m

Engages in the issuance of residential and commercial title insurance for residential, institutional, commercial, and industrial properties.

Safety Insurance Group

Market Cap: US$1.2b

Provides private passenger and commercial automobile, and homeowner insurance in the United States.

INCAR FINANCIAL SERVICE

Market Cap: ₩675.1b

Operates as an independent insurance agency in South Korea.

Kingstone Companies

Market Cap: US$237.8m

Through its subsidiary, Kingstone Insurance Company ("KICO"), provides property and casualty insurance products in the United States.

Sanlam Maroc

Market Cap: د.م8.2b

Provides insurance services Morocco.

Personal Group Holdings

Market Cap: UK£101.7m

Engages in the provision of employee services and salary sacrifice technology products in the United Kingdom.

AtlantaSanad Société Anonyme

Market Cap: د.م8.5b

Provides various insurance products for individuals, professionals, and corporates primarily in Morocco.

Bangkok Life Assurance

Market Cap: ฿33.3b

Provides life insurance services in Thailand.

Bao Viet Holdings

Market Cap: ₫40.1t

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

Universal Insurance Holdings

Market Cap: US$961.0m

Operates as an integrated insurance holding company in the United States.

Assiteca

Market Cap: €241.1m

Assiteca S.p.A. provides insurance consultancy and broking services in Italy.

American Coastal Insurance

Market Cap: US$635.4m

Through its subsidiaries, primarily engages in the commercial and personal property and casualty insurance business in the United States.

Abu Dhabi National Insurance Company PJSC

Market Cap: د.إ4.0b

Provides various insurance and reinsurance products to individuals and corporates in the United Arab Emirates and internationally.