U.S. Insurance Potentially Undervalued Companies

RenaissanceRe Holdings

Market Cap: US$12.1b

Provides reinsurance and insurance products in the United States and internationally.

ageas

Market Cap: US$10.8b

Engages in insurance business.

International General Insurance Holdings

Market Cap: US$1.0b

International General Insurance Holdings Ltd.

Lincoln National

Market Cap: US$5.8b

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

Sanlam

Market Cap: US$174.8b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Tokio Marine Holdings

Market Cap: US$11.0t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

T&D Holdings

Market Cap: US$1.5t

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

Dai-ichi Life Holdings

Market Cap: US$3.8t

Through its subsidiaries, engages in the provision of insurance products in Japan, the United States, and internationally.

Unum Group

Market Cap: US$14.0b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

AXA

Market Cap: US$89.5b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

Chubb

Market Cap: US$116.4b

Provides insurance and reinsurance products worldwide.

Asia Financial Holdings

Market Cap: US$3.3b

An investment holding company, underwrites general and life insurance in Hong Kong, Macau, and Mainland China.

ZhongAn Online P & C Insurance

Market Cap: US$19.4b

An Internet-based Insurtech company, engages in the provision of internet insurance and insurance information technology services in the People’s Republic of China.

Powszechny Zaklad Ubezpieczen

Market Cap: US$51.3b

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

Sabre Insurance Group

Market Cap: US$329.9m

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

Trisura Group

Market Cap: US$1.8b

A specialty insurance company, operates in the surety, risk solutions, corporate insurance, and reinsurance businesses in Canada, the United States, and internationally.

Employers Holdings

Market Cap: US$1.2b

Through its subsidiaries, provides workers' compensation insurance and services in the United States.

American Financial Group

Market Cap: US$10.2b

An insurance holding company, provides specialty property and casualty insurance products in the United States.

Waterdrop

Market Cap: US$459.3m

Through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People’s Republic of China.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: US$77.3b

Engages in the insurance and reinsurance businesses worldwide.

Mapfre

Market Cap: US$10.2b

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

Momentum Group

Market Cap: US$37.6b

Provides insurance and financial services in South Africa and internationally.

China United Insurance Service

Market Cap: US$3.1k

China United Insurance Service, Inc., through its subsidiaries, provides brokerage services related to life, and property and casualty insurance products in Taiwan, Hong Kong, and People’s Republic of China.

NN Group

Market Cap: US$14.7b

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

PICC Property and Casualty

Market Cap: US$325.2b

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

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: US$77.3b

Engages in the insurance and reinsurance businesses worldwide.

Aspen Insurance Holdings

Market Cap: US$2.8b

Engages in insurance and reinsurance businesses in Australia/Asia, the Caribbean, Canada, the United States, the United Kingdom, Europe, and internationally.

People's Insurance Company (Group) of China

Market Cap: US$322.5b

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

Yuanbao

Market Cap: US$675.3m

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

Beazley

Market Cap: US$5.5b

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

Phoenix Group Holdings

Market Cap: US$6.0b

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

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.

China Pacific Insurance (Group)

Market Cap: US$275.1b

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

ageas

Market Cap: US$10.7b

Engages in insurance business.

T&D Holdings

Market Cap: US$1.5t

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

Allianz

Market Cap: US$143.3b

Provides property-casualty insurance, life/health insurance, and asset management products and services Internationally.