Global Insurance Undervalued based on future growth

Fidelity National Financial

Market Cap: US$16.4b

Provides various insurance products in the United States.

Everest Group

Market Cap: US$14.7b

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

CNA Financial

Market Cap: US$12.9b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States and internationally.

Reinsurance Group of America

Market Cap: US$12.7b

Provides reinsurance and financial solutions.

KGI Financial Holding

Market Cap: NT$284.6b

Engages in the commercial banking, securities, venture capital, and insurance businesses in Taiwan and internationally.

Lincoln National

Market Cap: US$8.0b

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

China Taiping Insurance Holdings

Market Cap: HK$58.4b

An investment holding company, underwrites various insurance and reinsurance products in the People’s Republic of China, Hong Kong, Macau, Singapore, and internationally.

Selective Insurance Group

Market Cap: US$4.8b

Provides insurance products and services in the United States.

Aspen Insurance Holdings

Market Cap: US$3.4b

Engages in the insurance and reinsurance businesses in Australia, Asia, the United Kingdom, Ireland, rest of Europe, the United States, Canada, and internationally.

Brighthouse Financial

Market Cap: US$2.8b

Provides annuity and life insurance products in the United States.

Hamilton Insurance Group

Market Cap: US$2.4b

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

HCI Group

Market Cap: US$2.3b

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

SiriusPoint

Market Cap: US$2.2b

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

Hanwha Life Insurance

Market Cap: ₩2.6t

Provides insurance products to individual and corporate customers in South Korea and internationally.

Slide Insurance Holdings

Market Cap: US$1.8b

Engages in underwriting single family and condominium policies in the property and casualty industry in the United States.

Hyundai Marine & Fire Insurance

Market Cap: ₩2.2t

Hyundai Marine & Fire Insurance Co., Ltd.

Wüstenrot & Württembergische

Market Cap: €1.3b

Provides insurance products and services in Germany.

TWFG

Market Cap: US$1.4b

Operates an independent distribution platform for personal and commercial insurance products in the United States.

Bangkok Life Assurance

Market Cap: ฿32.8b

Provides life insurance services in Thailand.

Ategrity Specialty Insurance Company Holdings

Market Cap: US$1.0b

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

Tong Yang Life Insurance

Market Cap: ₩1.2t

Engages in the life insurance business in South Korea.

Sagicor Financial

Market Cap: CA$1.2b

Provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States.

Allianz Malaysia Berhad

Market Cap: RM 3.3b

An investment holding company, engages in general and life insurance business in Malaysia.

Heritage Insurance Holdings

Market Cap: US$721.1m

Through its subsidiaries, provides personal and commercial residential insurance products.

Universal Insurance Holdings

Market Cap: US$719.0m

Operates as an integrated insurance holding company in the United States.

IRB-Brasil Resseguros

Market Cap: R$3.8b

Engages in the provision of reinsurance solutions in Brazil and internationally.

Waterdrop

Market Cap: US$669.1m

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.

Conduit Holdings

Market Cap: UK£471.8m

Through its subsidiary, provides reinsurance products and services worldwide.

Hanwha General Insurance

Market Cap: ₩724.9b

Provides insurance services in South Korea.

Crawford

Market Cap: US$514.4m

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.

Global Indemnity Group

Market Cap: US$427.9m

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

Citizens

Market Cap: US$273.8m

A diversified financial services company providing life, living benefits and final expense insurance and other financial products to individuals and small businesses in the U.S., Latin America, and Asia.

Wiz Co Participações e Corretagem de Seguros

Market Cap: R$1.3b

Wiz Co Participações e Corretagem de Seguros S.A.

Helios Underwriting

Market Cap: UK£145.9m

Provides a limited liability investment for its shareholders in the Lloyd’s insurance market in the United Kingdom.

Kingstone Companies

Market Cap: US$194.7m

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

NobleOak Life

Market Cap: AU$138.3m

Engages in underwriting life insurance products in Australia.