Global Insurance Potentially Undervalued Companies

China Life Insurance

Market Cap: €1.1t

Operates as a life insurance company in the People’s Republic of China.

Fairfax Financial Holdings

Market Cap: US$58.2b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, the Middle East, Asia, and internationally.

Globe Life

Market Cap: US$11.5b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

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.

ASR Nederland

Market Cap: €12.1b

Provides insurance, pensions, and mortgages products and services for consumers, entrepreneurs, and employers in the Netherlands.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: US$68.5b

Engages in the insurance and reinsurance businesses worldwide.

MNRB Holdings Berhad

Market Cap: RM 1.6b

An investment holding company, engages in the general reinsurance, takaful, and retakaful businesses in Malaysia and internationally.

China Pacific Insurance (Group)

Market Cap: CN¥336.6b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

China Life Insurance

Market Cap: HK$1.1t

Operates as a life insurance company in the People’s Republic of China.

Sunshine Insurance Group

Market Cap: HK$45.4b

Provides various insurance products and related services in the People’s Republic of China.

Ping An Insurance (Group) Company of China

Market Cap: HK$995.0b

Ping An Insurance (Group) Company of China, Ltd.

Bangkok Life Assurance

Market Cap: ฿32.8b

Provides life insurance services in Thailand.

China Life Insurance

Market Cap: CN¥1.1t

Operates as a life insurance company in the People’s Republic of China.

People's Insurance Company (Group) of China

Market Cap: HK$377.9b

An investment holding company, provides insurance products and services in the People’s Republic of China and Hong Kong.

QBE Insurance Group

Market Cap: AU$31.3b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Aegon

Market Cap: €10.6b

Provides insurance, pensions, retirement, and asset management services in the Americas, the Netherlands, the United Kingdom, and internationally.

Hamilton Insurance Group

Market Cap: €2.4b

Through its subsidiaries, operates as specialty insurance and reinsurance company in Bermuda and internationally.

Old Mutual

Market Cap: €59.5b

Provides financial services primarily in South Africa and rest of Africa.

Wüstenrot & Württembergische

Market Cap: €1.3b

Provides insurance products and services in Germany.

SCOR

Market Cap: €5.0b

Provides life and non-life reinsurance products in Europe, the Middle East, Africa, the Americas, Latin America, and the Asia Pacific.

Mapfre

Market Cap: €11.9b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

Allstate

Market Cap: US$52.8b

Provides property and casualty, and other insurance products in the United States and Canada.

Hanover Insurance Group

Market Cap: US$6.5b

Through its subsidiaries, provides various property and casualty insurance products and services in the United States.

Powszechny Zaklad Ubezpieczen

Market Cap: €53.6b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

Manulife Financial

Market Cap: US$74.8b

Provides financial products and services in the United States, Canada, Asia, and internationally.

Lincoln National

Market Cap: US$8.0b

Through its subsidiaries, operates multiple insurance and retirement businesses in the United States.

Vienna Insurance Group

Market Cap: €5.8b

Engages in providing insurance products and services in Austria and internationally.

Thai Life Insurance

Market Cap: €117.9b

Provides life insurance products and services in Thailand.

AXIS Capital Holdings

Market Cap: US$7.7b

Through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally.

Ping An Insurance (Group) Company of China

Market Cap: €994.9b

Ping An Insurance (Group) Company of China, Ltd.

Unipol Assicurazioni

Market Cap: €12.8b

Provides insurance products and services primarily in Italy.

China Pacific Insurance (Group)

Market Cap: US$336.6b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: US$68.5b

Engages in the insurance and reinsurance businesses worldwide.

ageas

Market Cap: €11.3b

Engages in insurance business.

Great-West Lifeco

Market Cap: CA$50.7b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

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.