Index Performance
Overview
Description
The Property and Casualty (P&C) insurance industry is influenced by a myriad of drivers. Key factors include the economic environment, as premium growth is closely tied to GDP; interest rates, given that P&C companies invest their reserves primarily in fixed-income securities; underwriting discipline, which helps maintain profitability; claim frequency and severity, affected by natural catastrophes, legal trends, and technological advancements; regulatory changes, which can impact profitability through capital requirements and rate setting; and technological innovation like telematics and machine learning for risk assessment and price optimization. In addition, market sentiment and industry consolidation play a role in valuations and market cap rankings as companies strive for operational efficiencies and expanded product offerings to drive growth. Within the P&C insurance landscape, potential investable subcategories by market cap can be identified by considering the various sectors and business models at play. These include [[specialty insurers]] focusing on niche markets or specific types of risk, [[commercial insurers]] that protect businesses against a wide range of risks, [[personal lines insurers]] providing automobile and homeowners coverage, [[reinsurers]] offering coverage to insurance companies to mitigate their risks, and [[insurance brokers and services]] which can include entities involved in the facilitation of insurance contracts. Additionally, there is the [[InsurTech]] sector, embracing companies that leverage technology to disrupt and transform the traditional insurance industry, presenting high-growth investment opportunities. Market capitalization within these subcategories can be researched through financial databases and industry reports, providing investors insights into the size and scale of different entities within the P&C insurance market. This index was generated with help from Thematic Analyst.
- TickerGPAC
- Inception Date12/05/2023
- WeightingEqual
- # of holdings72
What's inside?
Holdings
All holdings as of May 16, 2024
| SelectQuote, Inc. (SLQT) | 2.52% | $515.93M | 25.72% | 49.39% | 0.82 |
| EverQuote, Inc. (EVER) | 1.89% | $710.26M | -16.62% | 94.46% | 2.28 |
| Regional Management Corp. (RM) | 1.73% | $294.91M | 6.60% | 97.58% | 2.68 |
| ProAssurance Corp. (PRA) | 1.66% | $746.31M | 4.41% | N/A | 0.96 |
| Sterling Infrastructure, Inc. (STRL) | 1.65% | $4.01B | 9.11% | 16.49% | 1.67 |
| Trupanion, Inc. (TRUP) | 1.65% | $1.38B | 19.43% | N/A | 1.11 |
| Mercury General Corp. (MCY) | 1.64% | $3.21B | 15.14% | N/A | 0.72 |
| Citizens, Inc. (Austin, Texas) (CIA) | 1.61% | $128.05M | 3.22% | N/A | 0.45 |
| Kingstone Cos., Inc. (KINS) | 1.60% | $51.19M | 0.05% | N/A | 0.63 |
| Root, Inc. (ROOT) | 1.59% | $614.11M | 263.62% | N/A | 2.02 |
| Avis Budget Group, Inc. (CAR) | 1.54% | $4.34B | -0.23% | 22.70% | 2.60 |
| Premier Financial Corp. (PFC) | 1.54% | $761.39M | 3.05% | N/A | 2.37 |
| AXIS Capital Holdings Ltd. (AXS) | 1.53% | $5.98B | 6.70% | N/A | 1.34 |
| Baldwin Insurance Group, Inc. (BRP) | 1.51% | $2.15B | 15.11% | 24.38% | 2.79 |
| Royal Caribbean Group (RCL) | 1.51% | $36.76B | 29.21% | 34.74% | 4.07 |
| Greenlight Capital Re Ltd. (GLRE) | 1.51% | $463.06M | 10.88% | N/A | 0.78 |
| Old Republic International Corp. (ORI) | 1.50% | $8.68B | 14.63% | N/A | 1.39 |
| CNO Financial Group, Inc. (CNO) | 1.49% | $3.12B | 18.06% | N/A | 1.60 |
| Lemonade, Inc. (LMND) | 1.48% | $1.25B | 25.77% | N/A | 3.18 |
| Markel Group, Inc. (MKL) | 1.48% | $21.49B | 22.60% | N/A | 1.51 |
| Arch Capital Group Ltd. (ACGL) | 1.46% | $37.11B | 23.14% | N/A | 2.75 |
| United Fire Group, Inc. (UFCS) | 1.46% | $596.48M | 10.81% | N/A | 0.54 |
| Verisk Analytics, Inc. (VRSK) | 1.46% | $35.88B | 8.04% | 56.86% | 13.42 |
| Insperity, Inc. (NSP) | 1.46% | $3.96B | 1.83% | 18.53% | 0.59 |
| Global Indemnity Group LLC (GBLI) | 1.45% | $309.63M | -25.59% | N/A | 0.89 |
| The Hanover Insurance Group, Inc. (THG) | 1.45% | $4.91B | 7.44% | N/A | 0.94 |
| Paramount Group, Inc. (PGRE) | 1.43% | $1.04B | 0.21% | 29.66% | 6.92 |
| The Allstate Corp. (ALL) | 1.43% | $44.60B | 10.68% | N/A | 0.95 |
| Kemper Corp. (KMPR) | 1.42% | $3.91B | -11.46% | N/A | 0.94 |
| Palomar Holdings, Inc. (PLMR) | 1.42% | $2.13B | 31.91% | N/A | 5.37 |
| American International Group, Inc. (AIG) | 1.41% | $52.26B | 20.01% | N/A | 1.66 |
| Chubb Ltd. (CB) | 1.41% | $107.56B | 15.57% | N/A | 2.51 |
| The Hartford Financial Services Group, Inc. (HIG) | 1.41% | $30.22B | 8.61% | N/A | 1.43 |
| Universal Insurance Holdings, Inc. (UVE) | 1.41% | $590.42M | 16.26% | N/A | 0.48 |
| SiriusPoint Ltd. (SPNT) | 1.41% | $2.16B | 0.09% | N/A | 1.15 |
| World Acceptance Corp. (WRLD) | 1.40% | $798.22M | -7.03% | N/A | 2.47 |
| Principal Financial Group, Inc. (PFG) | 1.40% | $19.75B | 43.79% | N/A | 1.68 |
| James River Group Holdings Ltd. (JRVR) | 1.39% | $305.63M | -14.63% | N/A | 0.99 |
| CNA Financial Corp. (CNA) | 1.38% | $12.22B | 9.26% | N/A | 1.17 |
| Intact Financial Corp. (IFC) | 1.38% | $29.89B | 3.27% | N/A | 1.71 |
| American Financial Group, Inc. (AFG) | 1.38% | $11.20B | 11.76% | N/A | 1.65 |
| Progressive Corp. (PGR) | 1.38% | $121.25B | 20.56% | N/A | 1.97 |
| Arthur J. Gallagher & Co. (AJG) | 1.37% | $55.83B | 20.41% | 93.55% | 5.96 |
| RLI Corp. (RLI) | 1.37% | $6.74B | 25.27% | N/A | 4.39 |
| Loews Corp. (L) | 1.37% | $17.09B | 11.84% | N/A | 1.74 |
| NI Holdings, Inc. (NODK) | 1.37% | $333.78M | 12.01% | N/A | 0.85 |
| Horace Mann Educators Corp. (HMN) | 1.36% | $1.43B | 9.07% | N/A | 1.37 |
| The Travelers Cos., Inc. (TRV) | 1.36% | $50.20B | 15.70% | N/A | 1.43 |
| Cincinnati Financial Corp. (CINF) | 1.36% | $18.56B | 30.97% | N/A | 1.91 |
| Hippo Holdings, Inc. (HIPO) | 1.35% | $423.61M | 113.82% | N/A | 1.80 |
| Cavco Industries, Inc. (CVCO) | 1.34% | $3.10B | -10.75% | 23.07% | 1.40 |
| Ryan Specialty Holdings, Inc. (RYAN) | 1.34% | $6.45B | 22.07% | N/A | 7.67 |
| Safety Insurance Group, Inc. (SAFT) | 1.34% | $1.20B | 24.99% | N/A | 1.28 |
| Assurant, Inc. (AIZ) | 1.32% | $9.12B | 8.98% | N/A | 1.06 |
| Brighthouse Financial, Inc. (BHF) | 1.32% | $2.87B | -94.24% | N/A | 2.23 |
| The Cigna Group (CI) | 1.32% | $96.37B | 19.28% | N/A | 0.67 |
| Employers Holdings, Inc. (EIG) | 1.31% | $1.08B | 8.04% | N/A | 1.34 |
| APA Corp. (APA) | 1.30% | $11.33B | -2.84% | 38.34% | 2.02 |
| Selective Insurance Group, Inc. (SIGI) | 1.30% | $5.95B | 17.89% | N/A | 1.68 |
| CCC Intelligent Solutions Holdings, Inc. (CCCS) | 1.27% | $6.75B | 10.89% | 65.98% | 8.83 |
| Open Lending Corp. (LPRO) | 1.27% | $738.82M | -19.85% | 81.30% | 5.82 |
| AMERISAFE, Inc. (AMSF) | 1.26% | $888.44M | 2.61% | N/A | 3.12 |
| W.R. Berkley Corp. (WRB) | 1.25% | $20.09B | 12.50% | N/A | 2.16 |
| Carnival Corp. (CCL) | 1.25% | $18.73B | 21.98% | 20.13% | 2.21 |
| Primerica, Inc. (PRI) | 1.24% | $7.72B | 7.38% | N/A | 3.71 |
| HCI Group, Inc. (HCI) | 1.23% | $1.06B | 60.13% | N/A | 2.71 |
| Goosehead Insurance, Inc. (GSHD) | 1.15% | $1.60B | 11.22% | N/A | 9.84 |
| Conifer Holdings, Inc. (CNFR) | 1.11% | $10.75M | -6.11% | N/A | 0.46 |
| Porch Group, Inc. (PRCH) | 1.10% | $278.71M | 32.13% | 22.87% | 1.10 |
| Kinsale Capital Group, Inc. (KNSL) | 1.01% | $8.94B | 44.76% | N/A | 9.35 |
| Tingo Group, Inc. (MICT) | 0.22% | $0.97M | 4,161.26% | 21.50% | 0.50 |
| Hallmark Financial Services, Inc. (HALL) | 0.01% | $0.01M | 9.59% | N/A | 0.73 |
