Bermudian Materials Defensive Blue Chips

HDFC Bank

Market Cap: ₹11.0t

Provides banking and financial products and services to individuals and businesses in India, Bahrain, Hong Kong, Singapore, and Dubai.

Altria Group

Market Cap: US$115.2b

Through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States.

Bank of Nova Scotia

Market Cap: CA$158.0b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Oversea-Chinese Banking

Market Cap: S$139.2b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

Zurich Insurance Group

Market Cap: CHF 88.7b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

CaixaBank

Market Cap: €91.7b

Provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally.

Stryker

Market Cap: US$105.7b

Operates as a medical technology company in the United States and internationally.

Al Rajhi Banking and Investment

Market Cap: ر.س396.6b

Provides banking and investment services in the Kingdom of Saudi Arabia and internationally.

ING Groep

Market Cap: €90.9b

Provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.

China Yangtze Power

Market Cap: CN¥697.3b

Engages in hydropower generation business in China, Portugal, Peru, Brazil, and Pakistan.

Canadian Imperial Bank of Commerce

Market Cap: CA$144.3b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

McKesson

Market Cap: US$102.8b

Provides healthcare services in the United States and internationally.

AXA

Market Cap: €88.4b

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

ICICI Bank

Market Cap: ₹9.7t

Engages in the provision of various banking and financial services to corporate and retail customers in India and internationally.

Constellation Energy

Market Cap: US$100.9b

Produces and sells energy products and services in the United States.

Tokio Marine Holdings

Market Cap: JP¥15.6t

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

Cambricon Technologies

Market Cap: CN¥675.9b

Engages in the research, development, design, and sale of core AI chips for terminal devices in China.

AIA Group

Market Cap: HK$783.6b

Provides life insurance based financial services in Hong Kong.

U.S. Bancorp

Market Cap: US$97.9b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

PNC Financial Services Group

Market Cap: US$97.4b

Operates as a diversified financial services company in the United States.

Bank of Communications

Market Cap: HK$752.2b

Provides commercial banking products and services in China and internationally.

NFiniTi

Market Cap: US$95.5b

Operates as an alcoholic beverage company that specializes in producing ready-to-drink cocktails across the Western Hemisphere.

Postal Savings Bank of China

Market Cap: HK$737.1b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

State Bank of India

Market Cap: ₹8.9t

Provides banking products and services in India and internationally.

HCA Healthcare

Market Cap: US$92.4b

Through its subsidiaries, provides health care services in the United States.

Elevance Health

Market Cap: US$90.8b

Operates as a health benefits company in the United States.

Semiconductor Manufacturing International

Market Cap: HK$708.1b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

Comcast

Market Cap: US$89.4b

Operates as a media and technology company worldwide.

Barclays

Market Cap: UK£64.2b

Provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.

Lloyds Banking Group

Market Cap: UK£63.1b

Provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom.

National Australia Bank

Market Cap: AU$119.4b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

Monster Beverage

Market Cap: US$85.0b

Through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally.

Marsh & McLennan Companies

Market Cap: US$84.4b

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

Westpac Banking

Market Cap: AU$117.9b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

ASE Technology Holding

Market Cap: NT$2.6t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

Infineon Technologies

Market Cap: €70.3b

Develops, manufactures, and markets semiconductors and semiconductor-based solutions in Germany, Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, the Asia-Pacific, Japan, the United States, and the Americas.