Global Insurance Undervalued based on future growth

Ping An Insurance (Group) Company of China

Market Cap: CN¥870.1b

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

People's Insurance Company (Group) of China

Market Cap: HK$332.2b

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

Prudential Financial

Market Cap: US$39.1b

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

Fidelity National Financial

Market Cap: US$13.1b

Provides various insurance products in the United States.

Lincoln National

Market Cap: US$7.4b

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

China Reinsurance (Group)

Market Cap: HK$48.9b

Operates as a reinsurance company in the People's Republic of China and internationally.

Sunshine Insurance Group

Market Cap: HK$40.5b

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

Hagerty

Market Cap: US$4.2b

Provides insurance services for collector cars and enthusiast vehicles in the United States, Canada, and the United Kingdom.

Türkiye Sigorta

Market Cap: ₺124.2b

Operates as a non-life insurance company in Turkey.

Qatar Insurance Company Q.S.P.C

Market Cap: ر.ق6.5b

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

Kemper

Market Cap: US$1.7b

An insurance holding company, provides insurance products in the United States.

Wüstenrot & Württembergische

Market Cap: €1.4b

Provides insurance products and services in Germany.

Anadolu Anonim Türk Sigorta Sirketi

Market Cap: ₺54.7b

Engages in the insurance business in Turkey.

Allianz Malaysia Berhad

Market Cap: RM 3.8b

Engages in the general and life insurance businesses in Malaysia.

IRB-Brasil Resseguros

Market Cap: R$4.5b

Provides reinsurance solutions in Brazil and internationally.

Sagicor Financial

Market Cap: CA$1.2b

Provides various financial services to individuals and corporations in Canada, the United States, Jamaica, and the rest of the Caribbean.

Crawford

Market Cap: US$520.3m

Provides claims management and outsourcing solutions for carriers, brokers, and corporations in the United States, the United Kingdom, Europe, Canada, Australia, Asia, and Latin America.

Hanwha General Insurance

Market Cap: ₩711.1b

Provides insurance services in South Korea.

Waterdrop

Market Cap: US$427.6m

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.

Global Indemnity Group

Market Cap: US$374.1m

Through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products in the United States.

Kingstone Companies

Market Cap: US$288.7m

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

Wiz Co Participações e Corretagem de Seguros

Market Cap: R$1.4b

Wiz Co Participações e Corretagem de Seguros S.A.

Aksigorta

Market Cap: ₺11.4b

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

James River Group Holdings

Market Cap: US$212.2m

Provides specialty insurance services.

Société Tunisienne de Réassurance

Market Cap: د.ت266.0m

Operates as a reinsurance company in Tunisia, Maghreb, Arab countries, Africa, Europe, Asia, and internationally.

NobleOak Life

Market Cap: AU$111.2m

Engages in the manufacture and distribution of life insurance products in Australia.

Tune Protect Group Berhad

Market Cap: RM 207.3m

A financial holding company, provides underwriting and reinsurance services for non-life insurance products in Malaysia and internationally.

Huize Holding

Market Cap: US$11.8m

Offers online insurance product and service platforms through various internet channels in Mainland China, Hong Kong, and internationally.