Global Insurance Potentially Undervalued Companies

FBD Holdings

Market Cap: €503.5m

Through its subsidiaries, engages in the underwriting of general insurance to farmers, private individuals, and business owners in Ireland.

Yuanbao

Market Cap: US$1.1b

Through its subsidiaries, provides online insurance distribution and services in the People’s Republic of China.

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.

Unipol Assicurazioni

Market Cap: €12.4b

Provides insurance products and services primarily in Italy.

Mapfre

Market Cap: €11.7b

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

SiriusPoint

Market Cap: US$2.2b

Provides multi-line reinsurance and insurance products and services worldwide.

UNIQA Insurance Group

Market Cap: Kč3.8b

Operates as an insurance company in Austria and Central and Eastern Europe.

Phoenix Group Holdings

Market Cap: US$6.4b

Operates in the long-term savings and retirement business in Europe.

NN Group

Market Cap: US$15.2b

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

SBI Insurance Group

Market Cap: JP¥38.0b

Provides various insurance products in Japan.

Powszechny Zaklad Ubezpieczen

Market Cap: zł52.4b

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

ASR Nederland

Market Cap: €11.8b

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

China Pacific Insurance (Group)

Market Cap: US$327.9b

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

Lancashire Holdings

Market Cap: US$1.5b

Provides specialty insurance and reinsurance products in London, Bermuda, and Australia.

Beazley

Market Cap: US$4.9b

Provides risk insurance and reinsurance solutions in the United States, the United Kingdom, rest of Europe, and internationally.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €66.7b

Engages in the insurance and reinsurance businesses worldwide.

MetLife

Market Cap: US$52.4b

A financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide.

First Insurance

Market Cap: NT$8.1b

Engages in the provision of a range of insurance products and related services in Taiwan.

Sabre Insurance Group

Market Cap: UK£342.6m

Through its subsidiaries, engages in writing of general insurance for motor vehicles in the United Kingdom.

American International Group

Market Cap: US$42.7b

Offers insurance products for commercial, institutional, and individual customers in North America and internationally.

PICC Property and Casualty

Market Cap: US$401.5b

Engages in property and casualty insurance business in People’s Republic of China.

Thaivivat Holdings

Market Cap: ฿2.7b

Provides various non-life insurance products in Thailand and Lao.

Fairfax Financial Holdings

Market Cap: €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.

Fubon Financial Holding

Market Cap: US$1.2t

Provides various financial services in Taiwan, Asia, and internationally.

Votum

Market Cap: zł573.6m

Votum S.A. helps victims of road accidents to obtain compensation from insurance companies.

Sabre Insurance Group

Market Cap: €342.6m

Through its subsidiaries, engages in writing of general insurance for motor vehicles in the United Kingdom.

CNO Financial Group

Market Cap: US$3.8b

Through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for middle-income pre-retiree and retired Americans in the United States.

Brighthouse Financial

Market Cap: €2.7b

Provides annuity and life insurance products in the United States.

Union Insurance

Market Cap: NT$5.9b

Provides insurance products and services in Taiwan.

T&D Holdings

Market Cap: JP¥1.9t

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

nib holdings

Market Cap: AU$3.7b

Engages in the underwriting and distribution of private health, life, and living insurance to residents, international students, and visitors in Australia and New Zealand.

NobleOak Life

Market Cap: AU$142.9m

Engages in underwriting life insurance products in Australia.

Dhipaya Group Holdings

Market Cap: ฿13.7b

Through its subsidiaries, provides non-life insurance products in Thailand.

ageas

Market Cap: €11.0b

Engages in insurance business.

Thaivivat Holdings

Market Cap: ฿2.7b

Provides various non-life insurance products in Thailand and Lao.

Marketing Alliance

Market Cap: US$10.3m

Operates as a wholesale distributor of life insurance, annuities, and other financial service products in the United States.