Nigerian Materials Defensive Blue Chips

Union Bank of India

Market Cap: ₹1.1t

Provides various banking products and services.

Bank of the Philippine Islands

Market Cap: ₱723.4b

Provides various financial products and services to retail and corporate clients in the Philippines.

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.

Tata Consumer Products

Market Cap: ₹1.1t

Produces, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Taiwan Cooperative Financial Holding

Market Cap: NT$372.2b

Provides commercial banking, insurance, securities, bills finance, venture capital, asset management, and investment trust services in Taiwan.

Samsung Fire & Marine Insurance

Market Cap: ₩17.3t

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

Gjensidige Forsikring

Market Cap: NOK 126.3b

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

Kansai Electric Power Company

Market Cap: JP¥1.8t

Engages in electricity, gas and heat supply, and telecommunication businesses in Japan.

BPER Banca

Market Cap: €10.8b

Provides banking products and services for individuals, and businesses and professionals in Italy and internationally.

Bank Polska Kasa Opieki

Market Cap: zł46.1b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

Cochlear

Market Cap: AU$19.3b

Provides implantable hearing solutions for children and adults worldwide.

BB Seguridade Participações

Market Cap: R$68.3b

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

CNA Financial

Market Cap: US$12.3b

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

Brown-Forman

Market Cap: US$12.3b

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

Albertsons Companies

Market Cap: US$12.2b

Through its subsidiaries, operates in the food and drug retail industry in the United States.

Turkiye Garanti Bankasi

Market Cap: ₺484.3b

Provides various banking products and services in Turkey.

Hua Nan Financial Holdings

Market Cap: NT$361.7b

Engages in the banking, securities, insurance, venture capital and asset management activities in Taiwan and internationally.

Helvetia Holding

Market Cap: CHF 9.8b

Engages in life and non-life insurance, and reinsurance business in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.

Encompass Health

Market Cap: US$12.0b

Provides post-acute healthcare services in the United States and Puerto Rico.

Shree Cement

Market Cap: ₹1.0t

Engages in the manufacture and sale of cement and clinker in India and internationally.

Origin Energy

Market Cap: AU$18.7b

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.

Taiwan Mobile

Market Cap: NT$355.4b

Provides wireless communication services in Taiwan, Republic of China, and internationally.

WH Group

Market Cap: HK$93.9b

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

United Spirits

Market Cap: ₹1.0t

Engages in the manufacture, sale, and distribution of alcoholic beverages and other allied spirits in India and internationally.

RenaissanceRe Holdings

Market Cap: US$11.9b

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

SCB X

Market Cap: ฿392.3b

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

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥85.2b

Henan Shuanghui Investment & Development Co.,Ltd.

Mapfre

Market Cap: €10.2b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

GD Power DevelopmentLtd

Market Cap: CN¥84.2b

Operates as a power generation company in China.

Grupo Bimbo. de

Market Cap: Mex$224.5b

Produces, distributes, and sells various bakery products.

Apollo Hospitals Enterprise

Market Cap: ₹1.0t

Engages in the provision of healthcare services in India and internationally.

Etihad Etisalat

Market Cap: ر.س43.9b

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

Tokyo GasLtd

Market Cap: JP¥1.7t

Engages in the production, supply, and sale of city gas, and LNG in Japan.

Bank of Chengdu

Market Cap: CN¥83.7b

Provides various commercial banking products and services in China.

Israel Discount Bank

Market Cap: ₪40.3b

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

Eurobank Ergasias Services and Holdings

Market Cap: €10.0b

Provides retail, corporate and private banking, asset management, treasury, capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.