Indonesian Software Defensive Blue Chips

Reinsurance Group of America

Market Cap: US$13.3b

Provides reinsurance and financial solutions.

Olympus

Market Cap: JP¥2.1t

Manufactures and sells medical equipment in Japan, America, the Middle East, Asia, and Oceania.

Absa Group

Market Cap: R211.2b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

James Hardie Industries

Market Cap: AU$19.0b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Sanlam

Market Cap: R210.8b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Budweiser Brewing Company APAC

Market Cap: HK$102.4b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, and internationally.

Hippo Valley Estates

Market Cap: US$1.7b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

First Financial Holding

Market Cap: NT$412.0b

Through its subsidiaries, provides various financial products and services in Taiwan, Asia, America, Europe, Oceania, and internationally.

Coca-Cola Consolidated

Market Cap: US$13.0b

Manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States.

RenaissanceRe Holdings

Market Cap: US$13.0b

Provides reinsurance and insurance products in the United States and internationally.

CNA Financial

Market Cap: US$13.0b

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

Pro Medicus

Market Cap: AU$18.6b

A healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe.

Alibaba Health Information Technology

Market Cap: HK$101.0b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ47.4b

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

Uni-President Enterprises

Market Cap: NT$406.8b

Produces and sells food products in Taiwan and internationally.

Vodafone Idea

Market Cap: ₹1.2t

Provides mobile telecommunication services in India.

True Corporation

Market Cap: ฿404.3b

Provides telecommunications and value-added services in Thailand.

Brown-Forman

Market Cap: US$12.8b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥88.6b

Henan Shuanghui Investment & Development Co.,Ltd.

Ryan Specialty Holdings

Market Cap: US$12.7b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, and Singapore.

Unum Group

Market Cap: US$12.7b

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

Tele2

Market Cap: SEK 113.0b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Suncorp Group

Market Cap: AU$18.1b

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

Universal Health Services

Market Cap: US$12.6b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

BAWAG Group

Market Cap: €10.6b

Operates as a holding company for BAWAG P.S.K.

Krung Thai Bank

Market Cap: ฿394.8b

Engages in commercial banking business in Thailand and internationally.

Piraeus Bank

Market Cap: €10.5b

Provides various banking products and services in Greece.

Fresenius Medical Care

Market Cap: €10.5b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Insurance Australia Group

Market Cap: AU$17.9b

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

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Oklo

Market Cap: US$12.4b

Develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to the customers in the United States.

mBank

Market Cap: zł44.1b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

BDO Unibank

Market Cap: ₱730.3b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق45.0b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Phoenix Financial

Market Cap: ₪38.3b

Provides multi-line insurance products in Israel.

Indian Bank

Market Cap: ₹1.1t

Provides various banking products and services.