Global Insurance Undervalued over 20% based on DCF

Chubb

Market Cap: US$131.6b

Provides insurance and reinsurance products worldwide.

AIA Group

Market Cap: HK$768.6b

Provides life insurance based financial services in Hong Kong.

Marsh & McLennan Companies

Market Cap: US$91.6b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

Aon

Market Cap: US$75.3b

Operates as a professional services firm in the United States, rest of the Americas, the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, and the Asia Pacific.

Arthur J. Gallagher

Market Cap: US$67.6b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

MetLife

Market Cap: US$60.0b

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

Aflac

Market Cap: US$58.2b

Through its subsidiaries, provides supplemental health and life insurance products.

Great-West Lifeco

Market Cap: CA$79.4b

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

Life Insurance Corporation of India

Market Cap: ₹5.3t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

Intact Financial

Market Cap: CA$46.7b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Willis Towers Watson

Market Cap: US$31.8b

Operates as an advisory, broking, and solutions company worldwide.

Swiss Life Holding

Market Cap: CHF 25.4b

Provides life, pensions, and financial solutions for private and corporate clients.

Sampo Oyj

Market Cap: €25.6b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

Aviva

Market Cap: UK£21.5b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China.

W. R. Berkley

Market Cap: US$26.7b

An insurance holding company, operates as a commercial line writer worldwide.

Helvetia Baloise Holding

Market Cap: CHF 20.8b

Engages in life and non-life insurance, and reinsurance business.

Brown & Brown

Market Cap: US$24.4b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally.

Legal & General Group

Market Cap: UK£15.5b

Provides various insurance products and services in the United Kingdom, the United States, and internationally.

Samsung Fire & Marine Insurance

Market Cap: ₩26.4t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Powszechny Zaklad Ubezpieczen

Market Cap: zł62.2b

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

Admiral Group

Market Cap: UK£12.1b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain.

ASR Nederland

Market Cap: €14.0b

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

Mapfre

Market Cap: €13.4b

Engages in insurance, reinsurance, and financial activities in Spain.

Gjensidige Forsikring

Market Cap: NOK 140.8b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Tryg

Market Cap: DKK 91.5b

Engages in the provision of insurance products and services to private, small and medium sized commercial, and corporate customers in Denmark, the United States, rest of Nordic, Luxembourg, the United Kingdom, and internationally.

T&D Holdings

Market Cap: JP¥2.3t

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

BB Seguridade Participações

Market Cap: R$72.2b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Assurant

Market Cap: US$14.0b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Unum Group

Market Cap: US$13.9b

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

Suncorp Group

Market Cap: AU$19.0b

Provides insurance products and services to retail, corporate, and commercial customers in Australia and New Zealand.

CNA Financial

Market Cap: US$13.3b

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

Insurance Australia Group

Market Cap: AU$17.6b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

Beazley

Market Cap: UK£7.7b

Through its subsidiaries, provides risk insurance and reinsurance solutions in the United States, the United Kingdom, and rest of Europe.

Vienna Insurance Group

Market Cap: €9.0b

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

Old Republic International

Market Cap: US$10.0b

Through its subsidiaries, provides insurance underwriting and related services in the United States and Canada.

Medibank Private

Market Cap: AU$13.1b

Provides private health insurance in Australia.