Global Insurance Potentially Undervalued Companies

Baloise Holding

Market Cap: CHF 9.2b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

Arab Jordanian Insurance Group

Market Cap: د.أ6.2m

Provides insurance products and services in Jordan.

Tower

Market Cap: AU$602.9m

Provides general insurance products in New Zealand and the Pacific Islands.

Bank for Investment and Development of Vietnam Insurance

Market Cap: ₫5.5t

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

Grupo Nacional Provincial

Market Cap: Mex$26.8b

Provides various insurance products in Mexico.

Storebrand

Market Cap: US$66.6b

Provides insurance products and services in Norway, Sweden, the United Kingdom, Finland, Denmark, Germany, Luxemburg, and Ireland.

COFACE

Market Cap: US$2.3b

Through its subsidiaries, provides credit insurance products and related services for microenterprises, small and medium enterprises, mid-market companies, international corporations, financial institutions, and clients of distribution partners.

Zavarovalnica Triglav d.d

Market Cap: €1.3b

Provides various life and non-life insurance products in Slovenia and internationally.

Phoenix Financial

Market Cap: ₪27.6b

Provides multi-line insurance products in Israel.

Sun Life Financial

Market Cap: CA$46.1b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Sun Life Financial

Market Cap: ₱46.1b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Korean Reinsurance

Market Cap: ₩2.0t

A reinsurance company, provides life and non-life reinsurance products in Korea and internationally.

Thai Life Insurance

Market Cap: ฿114.5b

Provides life insurance products and services in Thailand.

COFACE

Market Cap: €2.3b

Through its subsidiaries, provides credit insurance products and related services for microenterprises, small and medium enterprises, mid-market companies, international corporations, financial institutions, and clients of distribution partners.

Steadfast Group

Market Cap: US$6.7b

Provides general insurance brokerage services Australasia, Asia, and Europe.

Prudential

Market Cap: HK$26.2b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

NN Group

Market Cap: €15.6b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Zurich Insurance Group

Market Cap: US$81.0b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

F&G Annuities & Life

Market Cap: US$4.7b

Provides annuity and life insurance products in the United States.

Aflac

Market Cap: US$58.4b

Through its subsidiaries, provides supplemental health and life insurance products.

Zurich Insurance Group

Market Cap: CHF 81.0b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Hannover Rück

Market Cap: €29.9b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

AIA Group

Market Cap: €787.5b

Provides life insurance based financial services in Hong Kong.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €68.5b

Engages in the insurance and reinsurance businesses worldwide.

Ategrity Specialty Insurance Company Holdings

Market Cap: €1.0b

Through its subsidiaries, provides excess and surplus lines insurance and reinsurance products to small and medium-sized businesses in the United States.

Aksigorta

Market Cap: ₺9.9b

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

Travelers Companies

Market Cap: Mex$62.2b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally.

Everest Group

Market Cap: €14.7b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

NN Group

Market Cap: €15.6b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Sun Life Financial

Market Cap: Mex$46.1b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Travelers Companies

Market Cap: US$62.2b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally.

Progressive

Market Cap: US$145.5b

Operates as an insurance company in the United States.

Talanx

Market Cap: €29.0b

Provides insurance and reinsurance products and services worldwide.

Oscar Health

Market Cap: US$5.0b

Operates as a healthcare technology company in the United States.

HCI Group

Market Cap: €2.3b

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

Cosmos Insurance Company

Market Cap: €18.5m

Provides general insurance products to individuals and business customers in Cyprus.