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; membership is derived from these groups (companies.get_peers), never stored per company. Click a column header to sort.
| Group | Description | Members |
|---|---|---|
| Australian P&C | Australian & New Zealand general insurers | QBE, Suncorp, IAG |
| Australian health | Australian private health insurers | Medibank, nib |
| Australian retirement | 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. | Challenger |
| Bermuda (re)insurance | 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). | Everest Re, RenaissanceRe, Arch Capital, Axis Capital, Fidelis, Hamilton, SiriusPoint, Conduit, IGI |
| Brazilian insurance | Brazilian listed insurance groups. BB Seguridade and Caixa Seguridade are bancassurance stake vehicles, not underwriters. IRB is the reinsurer, post-2020 recapitalisation. | BB Seguridade, Caixa Seguridade, Porto Seguro, IRB Brasil |
| CEE composite | Central & Eastern Europe focused composites. Triglav and Sava Re are Ljubljana-listed small caps. | Vienna Insurance Group, UNIQA, PZU, Triglav, Sava Re |
| Canadian P&C | Canadian P&C insurers, IFRS 17. Trisura is specialty/fronting — imperfect comp. | Intact Financial, Definity, Trisura |
| Canadian life | Canadian life & wealth groups. Power Corp excluded — holdco consolidating Great-West Lifeco. | Manulife, Sun Life, Great-West Lifeco, iA Financial |
| Chinese insurer | 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. | Ping An, China Life, CPIC, PICC, New China Life, China Taiping, ZhongAn, China Re, Sunshine Insurance |
| European composite | Large pan-European multi-line composites | AXA, Allianz, Zurich, Generali |
| European direct motor | European direct-distribution motor insurers, IFRS 17. Renamed from 'UK personal lines' — update any callers. Sabre is small-cap. | Admiral, Línea Directa, Sabre Insurance |
| European life | Continental European life & pensions. Aegon is Bermuda-domiciled and US-weighted, kept by market convention. Mandatum is the ex-Sampo Finnish life demerger. | NN Group, Aegon, Swiss Life, Storebrand, Mandatum |
| European mid-cap composite | Mid-cap European multi-line insurers. Talanx consolidates Hannover Re (European reinsurer) — cross-circle aggregates double-count. Unipol carries large Italian bank stakes (BPER). | Mapfre, Talanx, Ageas, Helvetia Baloise, ASR Nederland, Unipol |
| European reinsurer | European reinsurance groups, all IFRS 17 (Swiss Re from FY2024). Hannover Re is consolidated by Talanx (European mid-cap composite). | Munich Re, Swiss Re, Hannover Re, SCOR |
| Financial guaranty | Monoline financial guaranty. MBIA is in effective runoff. | Assured Guaranty, MBIA |
| Global broker | Insurance brokers/distributors. Tiers: global big five (MMC, Aon, WTW, AJG, Brown & Brown), wholesale/rollups (Ryan, Baldwin, Goosehead), Australian networks (Steadfast, AUB). | Marsh McLennan, Aon, WTW, Arthur J. Gallagher, Brown & Brown, Ryan Specialty, Baldwin, Goosehead, Steadfast, AUB |
| Gulf insurer | GCC insurers. Saudi names report under the cooperative model; Bupa Arabia is health-only. | Bupa Arabia, Tawuniya, Qatar Insurance, ADNIC |
| Indian life | 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. | LIC, SBI Life, HDFC Life, ICICI Prudential Life, Max Financial |
| Indian non-life | 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. | ICICI Lombard, Star Health, New India Assurance, Go Digit, Niva Bupa, GIC Re |
| Insurance-led compounders | 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. | Berkshire Hathaway, Markel, Fairfax, White Mountains, Loews |
| Israeli insurer | Israeli composite insurers, all TASE, common regulator. term_map: disambiguate Phoenix Financial from any legacy UK Phoenix Group aliases. | Phoenix Financial, Harel, Menora Mivtachim, Migdal, Clal |
| Japanese P&C | Japanese non-life mega groups | Tokio Marine, MS&AD, Sompo |
| Japanese life | 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. | Dai-ichi Life, T&D Holdings, Japan Post Insurance, Sony Financial Group |
| Korean P&C | Korean non-life carriers. Meritz listed entity is Meritz Financial Group — holdco incl. securities, impure comp. Korean Re excluded — reinsurer. | Samsung Fire & Marine, DB Insurance, Hyundai Marine & Fire, Meritz Financial |
| Korean life | Korean listed life insurers. Samsung group cross-holdings distort Samsung Life comparisons. Mirae Asset Life and Tong Yang Life optional — ownership in flux. | Samsung Life, Hanwha Life |
| LatAm insurer (ex-Brazil) | Geography circle, heterogeneous — revisit as coverage grows. Sura is a multi-country holdco with cross-stakes; Quálitas is a Mexican motor pure play. | Grupo Sura, Quálitas, GNP |
| Life reinsurance | Singleton — RGA is the only listed pure-play life reinsurer; life reinsurance otherwise sits inside Munich Re / Swiss Re segments. | RGA |
| London specialty | London-market / Lloyd's specialty (re)insurers | Beazley, Lancashire, Hiscox |
| Nordic P&C | Nordic property & casualty (Topdanmark now inside Sampo). Protector is high-growth commercial, Nordic + UK. | Sampo, Tryg, Gjensidige, Alm. Brand, Protector Forsikring |
| Pan-Asian life | Pan-Asian life insurers (multi-market Asia footprint). FWD listed Jul 2025 — short reported history. | Prudential, AIA, FWD |
| South African P&C | South African short-term insurers. OUTsurance owns Youi (Australia) — material cross-region earnings. | Santam, OUTsurance |
| South African life & wealth | South African life/wealth-led groups. Discovery is health-led with a banking arm. | Sanlam, Old Mutual, Discovery, Momentum Group |
| Southeast Asian insurer | Geography circle, heterogeneous models — weakest circle, revisit as coverage grows. Great Eastern ~88% OCBC-owned; Bao Viet state-controlled. | Great Eastern, Thai Life, Bangkok Life, Bao Viet, Dhipaya |
| Taiwanese financial holding | 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. | Fubon Financial, Cathay Financial, KGI Financial, Taishin Shinkong |
| UK life & composite | 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. | Aviva, Legal & General, Standard Life, M&G, Chesnara |
| US coastal property | Florida/Gulf cat-exposed homeowners specialists — heavy reinsurance buyers. Slide listed 2025. American Integrity and Kingstone optional micro-caps. | Slide, HCI, Universal Insurance, American Coastal, Heritage |
| US insurtech | Post-2020 listed insurtech cohort. Oscar is a health-plan model — imperfect comp with the P&C names. | Lemonade, Root, Hippo, Oscar Health |
| US large-cap commercial P&C | US large-cap national/global commercial-lines franchises | Chubb, AIG, Travelers, Hartford |
| US life & retirement | 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. | Prudential US, MetLife, Lincoln Financial, Principal, Corebridge, Equitable, Voya, Jackson, F&G, Brookfield Wealth Solutions, Ameriprise |
| US managed care | 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. | UnitedHealth, Elevance, Cigna, Humana, Centene, Molina |
| US mid-cap commercial P&C | US mid-cap, largely agency-driven commercial carriers. Old Republic includes a large title segment — cross-ref US title insurance circle. | CNA, Cincinnati Financial, Selective, Hanover, Old Republic |
| US mortgage insurance | 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. | MGIC, Radian, Essent, Enact, NMI |
| US personal lines | 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. | Progressive, Allstate, Kemper, Mercury General |
| US protection & supplemental | US protection, disability and supplemental health insurers. Primerica is distribution-led rather than balance-sheet-led. | Aflac, Unum, Globe Life, CNO, Primerica |
| US specialty & E&S | 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. | W.R. Berkley, Kinsale, Skyward, RLI, AFG, Palomar, Bowhead, Ategrity, Assurant |
| US title insurance | US title insurers. FNF consolidates F&G (US life & retirement) — double-count. Old Republic's title segment sits in US mid-cap commercial. | Fidelity National Financial, First American, Stewart |