Norwegian Tech Defensive Blue Chips

Marsh & McLennan Companies

Market Cap: US$100.7b

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

AIA Group

Market Cap: HK$777.0b

Provides life insurance based financial services in Hong Kong.

HCA Healthcare

Market Cap: US$99.7b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

BNP Paribas

Market Cap: €84.4b

Provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

CVS Health

Market Cap: US$97.6b

Provides health solutions in the United States.

Enel

Market Cap: €83.9b

Operates as an integrated operator in electricity and gas industries worldwide.

AXA

Market Cap: €83.0b

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

China Yangtze Power

Market Cap: CN¥677.3b

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

McKesson

Market Cap: US$94.0b

Provides healthcare services in the United States and internationally.

Postal Savings Bank of China

Market Cap: HK$729.7b

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

Bank of Montreal

Market Cap: CA$127.1b

Engages in the provision of diversified financial services primarily in North America.

State Bank of India

Market Cap: ₹8.0t

Provides banking products and services in India and internationally.

Tokyo Electron

Market Cap: JP¥13.6t

Develops, manufactures, and sells semiconductor production equipment in Japan, Europe, North America, Taiwan, China, South Korea, and internationally.

National Australia Bank

Market Cap: AU$133.7b

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

Westpac Banking

Market Cap: AU$133.5b

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

Advantest

Market Cap: JP¥13.1t

Manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, the Americas, Europe, and Asia.

Hygon Information Technology

Market Cap: CN¥610.3b

Engages in the research and development of computing chip products and systems in China.

Econet Wireless Zimbabwe

Market Cap: US$11.0b

Through its subsidiaries, primarily provides mobile telecommunications and related overlay services in Zimbabwe.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €73.1b

Engages in the insurance and reinsurance businesses worldwide.

China Telecom

Market Cap: HK$647.8b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

NTT

Market Cap: JP¥12.6t

Operates as a telecommunications company in Japan and internationally.

Cigna Group

Market Cap: US$81.9b

Provides insurance and related products and services in the United States.

Elevance Health

Market Cap: US$81.6b

Operates as a health benefits company in the United States.

Marvell Technology

Market Cap: US$79.7b

Provides data infrastructure semiconductor solutions, spanning the data center core to network edge.

Tokio Marine Holdings

Market Cap: JP¥12.2t

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

Bank of Communications

Market Cap: HK$617.5b

Provides commercial banking products and services in China and internationally.

Barito Renewables Energy

Market Cap: Rp1321.1t

Engages in the generation and sale of power through geothermal and wind resources in Indonesia.

Mizuho Financial Group

Market Cap: JP¥12.1t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

CRH

Market Cap: US$79.0b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

Aon

Market Cap: US$78.8b

A professional services firm, provides a range of risk and human capital solutions worldwide.

Arthur J. Gallagher

Market Cap: US$78.7b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Nongfu Spring

Market Cap: HK$609.6b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Bank of Nova Scotia

Market Cap: CA$109.8b

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

Cambricon Technologies

Market Cap: CN¥557.6b

Research, develops, design, and sells core chips in cloud server, edge computing, and terminal equipment in China.

PNC Financial Services Group

Market Cap: US$74.9b

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

Nu Holdings

Market Cap: US$74.7b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.