Bermudian Software Defensive Blue Chips

Grupo Bimbo. de

Market Cap: Mex$264.5b

Produces, distributes, and markets bakery products.

Mapfre

Market Cap: €13.4b

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

SCB X

Market Cap: ฿511.8b

Engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

ING Bank Slaski

Market Cap: zł57.8b

Provides various banking products and services for retail clients and businesses in Poland.

Asahi Group Holdings

Market Cap: JP¥2.5t

Engages in the manufacture and sale of beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Grupo Financiero Inbursa. de

Market Cap: Mex$262.1b

Provides various financial products and services to individuals and businesses in Mexico.

Kirin Holdings Company

Market Cap: JP¥2.4t

Engages in food and beverages, alcoholic beverages, pharmaceuticals, and health science businesses.

Admiral Group

Market Cap: UK£11.4b

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

Attijariwafa bank

Market Cap: د.م141.5b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

Phison Electronics

Market Cap: NT$488.6b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ55.7b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Kerry Group

Market Cap: €13.1b

Provides taste and nutrition solutions.

Brookfield Wealth Solutions

Market Cap: US$15.1b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Public Power

Market Cap: €13.0b

Generates, transmits, and distributes electricity in Greece, Romania, Bulgaria, and North Macedonia.

Cooper Companies

Market Cap: US$15.0b

Develops, manufactures, and markets contact lens wearers.

Union Bank of India

Market Cap: ₹1.4t

Provides banking products and services in India.

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ54.8b

Engages in the corporate, retail, and investment banking activities in the United Arab Emirates and internationally.

Coloplast

Market Cap: DKK 96.8b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

Huaneng Power International

Market Cap: HK$116.2b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China, the Islamic Republic of Pakistan, and internationally.

Gjensidige Forsikring

Market Cap: NOK 140.5b

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

First Financial Holding

Market Cap: NT$476.7b

Provides various financial products and services in Asia, North America, Oceania, and Europe.

T&D Holdings

Market Cap: JP¥2.4t

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

Enpara Bank

Market Cap: ₺703.6b

Provides banking services and products in Turkey.

LONGi Green Energy Technology

Market Cap: CN¥99.3b

Manufactures and sells monocrystalline silicon wafers, solar modules, and green hydrogen equipment in China, Europe, the Asia Pacific, and the United States.

HANMI Semiconductor

Market Cap: ₩20.6t

Manufactures and sells semiconductor equipment in South Korea and internationally.

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق52.9b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

Fisher & Paykel Healthcare

Market Cap: NZ$24.8b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

Suncorp Group

Market Cap: AU$20.3b

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

Punjab National Bank

Market Cap: ₹1.4t

Provides various banking and financial products and services in India and internationally.

United Utilities Group

Market Cap: UK£10.6b

Provides water and wastewater services in the United Kingdom.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp255.3t

Provides information and communications technology, and telecommunications network services worldwide.

African Distillers

Market Cap: US$1.8b

Manufactures, distributes, and markets wines, spirits, ready-to-drink (RTDs), and ciders in Zimbabwe.

Phoenix Financial

Market Cap: ₪42.6b

Operates as a financial services company in Israel.

Baxter International

Market Cap: US$14.3b

Through its subsidiaries, provides a portfolio of healthcare products in the United States.

Britannia Industries

Market Cap: ₹1.4t

Engages in manufacturing, trading, and sale of various food products in India and internationally.

Unum Group

Market Cap: US$14.2b

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