Moroccan Software Defensive Blue Chips

RenaissanceRe Holdings

Market Cap: US$13.3b

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

Fidelity National Financial

Market Cap: US$13.2b

Provides various insurance products in the United States.

Shanghai United Imaging Healthcare

Market Cap: CN¥89.4b

Shanghai United Imaging Healthcare Co., Ltd.

Union Bank of India

Market Cap: ₹1.3t

Provides banking products and services in India.

Wens Foodstuff Group

Market Cap: CN¥88.8b

Engages in the agricultural and animal husbandry businesses in China and internationally.

Kinsus Interconnect Technology

Market Cap: NT$418.9b

Engages in the manufacture and sale of electronic products in Taiwan and internationally.

WH Group

Market Cap: HK$101.9b

An investment holding company, produces and sells packaged meats, pork, and hogs in China, North America, and Europe.

Piraeus Bank

Market Cap: €11.4b

Provides various banking products and services in Greece, Europe, and internationally.

Erie Indemnity

Market Cap: US$13.0b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Banque Saudi Fransi

Market Cap: ر.س48.6b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

Banque Cantonale Vaudoise

Market Cap: CHF 10.5b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Smith & Nephew

Market Cap: UK£9.6b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Rockchip Electronics

Market Cap: CN¥87.2b

Operates as a fabless IC design company focusing on Intelligent IoT in China.

Yokohama Financial Group

Market Cap: JP¥2.1t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Anhui Conch Cement

Market Cap: CN¥87.0b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Semtech

Market Cap: US$12.8b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Eastroc Beverage (Group)

Market Cap: CN¥86.7b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

iA Financial

Market Cap: CA$18.1b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Align Technology

Market Cap: US$12.8b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

Dangote Cement

Market Cap: ₦17.5t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Etihad Etisalat

Market Cap: ر.س47.8b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Fresenius Medical Care

Market Cap: €11.1b

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

Punjab National Bank

Market Cap: ₹1.2t

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

Caixa Seguridade Participações

Market Cap: R$64.8b

Provides insurance products in Brazil and internationally.

Osaka Gas

Market Cap: JP¥2.0t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Great Eastern Holdings

Market Cap: S$16.3b

An investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia.

Israel Discount Bank

Market Cap: ₪37.9b

Provides various banking and financial services in Israel, Europe, and North America.

SK Telecom

Market Cap: ₩18.9t

Engages in the provision of wireless telecommunication services in South Korea.

Origin Energy

Market Cap: AU$18.0b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

CP ALL

Market Cap: ฿416.6b

Operates convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internationally.

Penumbra

Market Cap: US$12.5b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Almarai

Market Cap: ر.س46.8b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Tianshui Huatian Technology

Market Cap: CN¥84.1b

Engages in research, development, production, packaging, testing, and sales of semiconductor integrated circuits in China and internationally.

Webster Financial

Market Cap: US$12.4b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Rambus

Market Cap: US$12.3b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.