Global Insurance Undiscovered Gems With Strong Fundamentals

Bank for Investment and Development of Vietnam Insurance

Market Cap: ₫5.4t

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

Firstcaution

Market Cap: €159.5m

FirstCaution SA, an insurance company, engages in processing and providing rental deposit guarantees for private and commercial leases in Switzerland.

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

Market Cap: ر.ق607.3m

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

Jubilee Holdings

Market Cap: KSh23.2b

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

Golden Insurance BrokersLtd

Market Cap: NT$3.1b

Provides life and property insurance brokerage services in Taiwan.

Ray Sigorta Anonim Sirketi

Market Cap: ₺38.9b

Engages in the non-life insurance business in Turkey.

Kenya Reinsurance

Market Cap: KSh16.5b

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

Seguros Vida Security Previsión

Market Cap: CL$265.5b

Provides various insurance products in Chile.

NEM Insurance

Market Cap: ₦146.2b

Provides general insurance products and services to corporate and individual customers in Nigeria and Europe.

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

Market Cap: ر.ق842.0m

Provides a range of insurance products and services in Qatar.

Allianz - Slovenská poistovna

Market Cap: €1.7b

Provides various insurance products and services in Slovakia.

Gulf Insurance Group K.S.C.P

Market Cap: د.ك253.8m

Provides insurance products and services to individuals and businesses in Kuwait, GCC countries, and rest of Middle East countries.

Kuwait Reinsurance Company K.S.C.P

Market Cap: د.ك116.3m

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

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.

Adamjee Insurance

Market Cap: PK₨29.3b

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

Malath Cooperative Insurance

Market Cap: ر.س661.0m

Provides insurance products and related services to individuals, small and medium enterprises, and corporates in the Kingdom of Saudi Arabia.

Investors Title

Market Cap: US$478.9m

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

Aksigorta

Market Cap: ₺10.2b

Provides various life and non-life insurance products and services to retail and business customers in Turkey.

Clientèle

Market Cap: R6.1b

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

Safety Insurance Group

Market Cap: US$1.0b

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

UTG

Market Cap: US$135.6m

An insurance holding company, provides individual life insurance products and services in the United States.

Sukoon Insurance PJSC

Market Cap: د.إ1.8b

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

INCAR FINANCIAL SERVICE

Market Cap: ₩598.4b

Operates as an independent insurance agency in South Korea.

Anadolu Hayat Emeklilik Anonim Sirketi

Market Cap: ₺41.8b

Provides individual and group insurance and reinsurance services to group and individual life, retirement, and related personal accident branches in Turkey.

Kingstone Companies

Market Cap: US$202.8m

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

Saudi Reinsurance

Market Cap: ر.س5.7b

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

Gulf Insurance Group

Market Cap: ر.س1.4b

Provides insurance and reinsurance products and services for corporates, SMEs, and individual customers in the Kingdom of Saudi Arabia.

Personal Group Holdings

Market Cap: UK£102.6m

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

Donegal Group

Market Cap: US$674.9m

An insurance holding company, provides commercial and personal lines of property and casualty coverages.

Anadolu Anonim Türk Sigorta Sirketi

Market Cap: ₺43.6b

Offers non-life insurance products in Turkey.

Bao Viet Holdings

Market Cap: ₫40.5t

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

Assiteca

Market Cap: €241.1m

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

MIRAE ASSET Life Insurance

Market Cap: ₩1.0t

MIRAE ASSET Life Insurance Co., Ltd provides personal insurance products and undertakes related reinsurance contracts in South Korea.

American Coastal Insurance

Market Cap: US$576.4m

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

Qatar Insurance Company Q.S.P.C

Market Cap: ر.ق6.7b

Engages in the insurance, reinsurance, real estate asset management, and information technology businesses.

International General Insurance Holdings

Market Cap: US$960.3m

International General Insurance Holdings Ltd.