Datacheck:Trading comparable groups

This is the source of the wiki page Datacheck:Trading comparable groups (deployed via tools/wiki/deploy.py, key: datacheck_comps).

Read-only render of Data:trading_comparable_groups.json — curated cross-border trading-comparable groups (consistent benchmarking peer sets). Source of truth is core/trading_comparable_groups.json: each group's members is the home circle; an optional also list holds secondary members. A company's home + secondary groups are materialized (generated + sync-tested) into the trading_comparable_groups field of companies.json. Click a column header to sort.

Data:trading_comparable_groups.json — 46 groups

Group	Size	Members	Description
Australian P&C	3	QBE, Suncorp, IAG	Australian & New Zealand general insurers
Australian health	2	Medibank, nib	Australian private health insurers
Australian retirement	1	Challenger	Singleton — Australia's listed annuity/retirement-income pure play. TAL Dai-ichi holds 19.9%, the pre-bid maximum under takeover rules. Generation Development optional second member.
Bermuda (re)insurance	9	Everest Re, RenaissanceRe, Arch Capital, Axis Capital, Fidelis, Hamilton, SiriusPoint, Conduit, IGI	Bermuda-domiciled hybrid (re)insurers, US GAAP. Fidelis, Hamilton, SiriusPoint, Conduit, IGI are small/mid caps with short listed histories. Fidelis absent from vendor screens tagged non-insurance — keep. Aspen excluded — relisted May 2025, Sompo take-private agreed Aug 2025, closing 2026 (acquirer is a Japanese P&C member).
Brazilian insurance	4	BB Seguridade, Caixa Seguridade, Porto Seguro, IRB Brasil	Brazilian listed insurance groups. BB Seguridade and Caixa Seguridade are bancassurance stake vehicles, not underwriters. IRB is the reinsurer, post-2020 recapitalisation.
CEE composite	5	Vienna Insurance Group, UNIQA, PZU, Triglav, Sava Re	Central & Eastern Europe focused composites. Triglav and Sava Re are Ljubljana-listed small caps.
Canadian P&C	3	Intact Financial, Definity, Trisura	Canadian P&C insurers, IFRS 17. Trisura is specialty/fronting — imperfect comp.
Canadian life	4	Manulife, Sun Life, Great-West Lifeco, iA Financial	Canadian life & wealth groups. Power Corp excluded — holdco consolidating Great-West Lifeco.
Chinese insurer	9	Ping An, China Life, CPIC, PICC, New China Life, China Taiping, ZhongAn, China Re, Sunshine Insurance	Mainland-China listed insurance groups. PICC resolves to group level (1339 HK) — disambiguate in term_map. China Re is a reinsurer; Sunshine listed Dec 2022; ZhongAn is online-only.
European composite	4	AXA, Allianz, Zurich, Generali	Large pan-European multi-line composites
European direct motor	3	Admiral, Línea Directa, Sabre Insurance	European direct-distribution motor insurers, IFRS 17. Renamed from 'UK personal lines' — update any callers. Sabre is small-cap.
European life	5	NN Group, Aegon, Swiss Life, Storebrand, Mandatum	Continental European life & pensions. Aegon is Bermuda-domiciled and US-weighted, kept by market convention. Mandatum is the ex-Sampo Finnish life demerger.
European mid-cap composite	6	Mapfre, Talanx, Ageas, Helvetia Baloise, ASR Nederland, Unipol	Mid-cap European multi-line insurers. Talanx consolidates Hannover Re (European reinsurer) — cross-circle aggregates double-count. Unipol carries large Italian bank stakes (BPER).
European reinsurer	4	Munich Re, Swiss Re, Hannover Re, SCOR	European reinsurance groups, all IFRS 17 (Swiss Re from FY2024). Hannover Re is consolidated by Talanx (European mid-cap composite).
Financial guaranty	2	Assured Guaranty, MBIA	Monoline financial guaranty. MBIA is in effective runoff.
Global broker	10	Marsh McLennan, Aon, WTW, Arthur J. Gallagher, Brown & Brown, Ryan Specialty, Baldwin, Goosehead, Steadfast, AUB	Insurance brokers/distributors. Tiers: global big five (MMC, Aon, WTW, AJG, Brown & Brown), wholesale/rollups (Ryan, Baldwin, Goosehead), Australian networks (Steadfast, AUB).
Gulf insurer	4	Bupa Arabia, Tawuniya, Qatar Insurance, ADNIC	GCC insurers. Saudi names report under the cooperative model; Bupa Arabia is health-only.
Indian life	5	LIC, SBI Life, HDFC Life, ICICI Prudential Life, Max Financial	Indian listed life insurers. LIC free float ~3.5%. Max Financial is a holdco over Axis Max Life. Canara HSBC Life (2025 listing) optional. Bajaj Finserv excluded — listed value dominated by the Bajaj Finance stake; Allianz exited the insurance JVs in 2025.
Indian non-life	6	ICICI Lombard, Star Health, New India Assurance, Go Digit, Niva Bupa, GIC Re	Indian listed general/health insurers. GIC Re is a reinsurer; New India and GIC Re are ~85% state-owned. PB Fintech excluded — marketplace, not carrier.
Insurance-led compounders	5	Berkshire Hathaway, Markel, Fairfax, White Mountains, Loews	Insurance-led holding companies run as book-value compounders. Loews consolidates CNA (US mid-cap commercial) — double-count. Power Corp of Canada excluded — consolidates Great-West Lifeco.
Israeli insurer	5	Phoenix Financial, Harel, Menora Mivtachim, Migdal, Clal	Israeli composite insurers, all TASE, common regulator. term_map: disambiguate Phoenix Financial from any legacy UK Phoenix Group aliases.
Japanese P&C	3	Tokio Marine, MS&AD, Sompo	Japanese non-life mega groups
Japanese life	4	Dai-ichi Life, T&D Holdings, Japan Post Insurance, Sony Financial Group	Japanese listed life groups. Dai-ichi legal name now Daiichi Life Group per screen. Japan Post Holdings excluded — conglomerate parent. Sony Financial Group relisted Sep 2025; absent from vendor screens — keep.
Korean P&C	4	Samsung Fire & Marine, DB Insurance, Hyundai Marine & Fire, Meritz Financial	Korean non-life carriers. Meritz listed entity is Meritz Financial Group — holdco incl. securities, impure comp. Korean Re excluded — reinsurer.
Korean life	2	Samsung Life, Hanwha Life	Korean listed life insurers. Samsung group cross-holdings distort Samsung Life comparisons. Mirae Asset Life and Tong Yang Life optional — ownership in flux.
LatAm insurer (ex-Brazil)	3	Grupo Sura, Quálitas, GNP	Geography circle, heterogeneous — revisit as coverage grows. Sura is a multi-country holdco with cross-stakes; Quálitas is a Mexican motor pure play.
Life reinsurance	1	RGA	Singleton — RGA is the only listed pure-play life reinsurer; life reinsurance otherwise sits inside Munich Re / Swiss Re segments.
London specialty	3	Beazley, Lancashire, Hiscox	London-market / Lloyd's specialty (re)insurers
Nordic P&C	5	Sampo, Tryg, Gjensidige, Alm. Brand, Protector Forsikring	Nordic property & casualty (Topdanmark now inside Sampo). Protector is high-growth commercial, Nordic + UK.
Pan-Asian life	3	Prudential, AIA, FWD	Pan-Asian life insurers (multi-market Asia footprint). FWD listed Jul 2025 — short reported history.
South African P&C	2	Santam, OUTsurance	South African short-term insurers. OUTsurance owns Youi (Australia) — material cross-region earnings.
South African life & wealth	4	Sanlam, Old Mutual, Discovery, Momentum Group	South African life/wealth-led groups. Discovery is health-led with a banking arm.
Southeast Asian insurer	5	Great Eastern, Thai Life, Bangkok Life, Bao Viet, Dhipaya	Geography circle, heterogeneous models — weakest circle, revisit as coverage grows. Great Eastern ~88% OCBC-owned; Bao Viet state-controlled.
Taiwanese financial holding	4	Fubon Financial, Cathay Financial, KGI Financial, Taishin Shinkong	Taiwanese insurance-led financial holding companies — group KPIs include banking/securities, not pure insurance comps. Taishin Shinkong formed Jul 2025 (Taishin × Shin Kong merger); bank-led historically, Shin Kong Life makes insurance material — verify canonical name in term_map.
UK life & composite	5	Aviva, Legal & General, Standard Life, M&G, Chesnara	UK life, retirement and composite groups (Aviva incl. GI). Just Group excluded — delisted Apr 2026 (Brookfield). M&G absent from vendor screens tagged asset management — keep. Chesnara is a small-cap consolidator.
US coastal property	5	Slide, HCI, Universal Insurance, American Coastal, Heritage	Florida/Gulf cat-exposed homeowners specialists — heavy reinsurance buyers. Slide listed 2025. American Integrity and Kingstone optional micro-caps.
US insurtech	4	Lemonade, Root, Hippo, Oscar Health	Post-2020 listed insurtech cohort. Oscar is a health-plan model — imperfect comp with the P&C names.
US large-cap commercial P&C	4	Chubb, AIG, Travelers, Hartford	US large-cap national/global commercial-lines franchises
US life & retirement	11	Prudential US, MetLife, Lincoln Financial, Principal, Corebridge, Equitable, Voya, Jackson, F&G, Brookfield Wealth Solutions, Ameriprise	US life, annuity and retirement groups. Brighthouse excluded — Aquarian take-private, closing 2026. F&G is ~83% FNF-owned. Brookfield Wealth Solutions has Brookfield-linked share structure and consolidates Just from Apr 2026. Ameriprise is wealth-management-led with RiverSource annuities — imperfect comp, strike if too impure. Equitable, Voya, Corebridge, Jackson absent from vendor screens — classification only, keep.
US managed care	6	UnitedHealth, Elevance, Cigna, Humana, Centene, Molina	US statutory health insurers — GICS Health Care, absent from insurance screens. MLR-driven model: KPIs not comparable to P&C/life circles. Oscar remains in US insurtech. Fast M&A/regulatory news flow — re-verify membership.
US mid-cap commercial P&C	5	CNA, Cincinnati Financial, Selective, Hanover, Old Republic	US mid-cap, largely agency-driven commercial carriers. Old Republic includes a large title segment — cross-ref US title insurance circle.
US mortgage insurance	5	MGIC, Radian, Essent, Enact, NMI	US private MI monolines — GICS thrifts & mortgage finance, absent from insurance screens. Enact ~81% Genworth-owned. Radian pivoting to multiline specialty (Inigo acquisition, closing early 2026; divesting title/conduit/real-estate). Arch's MI is a segment of an existing Bermuda member.
US personal lines	4	Progressive, Allstate, Kemper, Mercury General	US personal-lines carriers, US GAAP. Kemper is non-standard auto; Mercury General is California-concentrated. Erie Indemnity excluded — attorney-in-fact fee entity for the reciprocal exchange, no underwriting risk.
US protection & supplemental	5	Aflac, Unum, Globe Life, CNO, Primerica	US protection, disability and supplemental health insurers. Primerica is distribution-led rather than balance-sheet-led.
US specialty & E&S	9	W.R. Berkley, Kinsale, Skyward, RLI, AFG, Palomar, Bowhead, Ategrity, Assurant	US specialty and E&S underwriters. Ategrity listed 2025, Bowhead 2024 — short histories. Assurant is lifestyle/housing protection, fee-heavy — imperfect comp. Excluded: Accelerant (marketplace/MGA model), James River (distressed micro-cap). Core Specialty (private) to join once private companies are added.
US title insurance	3	Fidelity National Financial, First American, Stewart	US title insurers. FNF consolidates F&G (US life & retirement) — double-count. Old Republic's title segment sits in US mid-cap commercial.