C

Global P&C Insurance MarketCap Index

GPAC

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Index Performance

-4.87%
GPAC
+7.85%
TMLARGE

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 December 9, 2025
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Lemonade, Inc. (LMND)1.94%$5.77B44.14%N/A7.64
Universal Insurance Holdings, Inc. (UVE)1.86%$877.09M3.46%N/A0.55
SiriusPoint Ltd. (SPNT)1.80%$2.53B34.45%N/A1.08
James River Group Holdings, Inc. (JRVR)1.72%$276.25M-9.80%N/A1.11
Mercury General Corp. (MCY)1.69%$4.94B3.56%N/A0.91
Brighthouse Financial, Inc. (BHF)1.69%$3.73B-10.01%N/A1.00
APA Corp. (APA)1.69%$9.27B-16.44%38.68%1.42
United Fire Group, Inc. (UFCS)1.67%$883.82M9.62%N/A0.70
Chubb Ltd. (CB)1.64%$116.98B8.19%N/A2.41
Kingstone Cos., Inc. (KINS)1.63%$212.49M40.86%N/A1.20
EverQuote, Inc. (EVER)1.63%$960.74M20.35%97.29%1.12
Principal Financial Group, Inc. (PFG)1.62%$19.09B22.25%N/A1.46
Old Republic International Corp. (ORI)1.62%$10.71B3.54%N/A1.40
Greenlight Capital Re Ltd. (GLRE)1.60%$466.14M7.80%N/A0.67
Markel Group, Inc. (MKL)1.59%$26.03B-5.29%N/A1.78
Assurant, Inc. (AIZ)1.59%$11.11B8.89%N/A1.06
Safety Insurance Group, Inc. (SAFT)1.58%$1.11B10.15%N/A0.89
Loews Corp. (L)1.58%$20.96B4.59%N/A1.71
AXIS Capital Holdings Ltd. (AXS)1.56%$7.59B5.88%N/A1.52
Cincinnati Financial Corp. (CINF)1.55%$25.17B12.23%N/A2.14
Arch Capital Group Ltd. (ACGL)1.55%$32.98B9.32%N/A1.98
The Hanover Insurance Group, Inc. (THG)1.53%$6.34B6.37%N/A1.21
Cavco Industries, Inc. (CVCO)1.53%$4.38B9.67%24.15%1.96
Palomar Holdings, Inc. (PLMR)1.52%$3.06B65.11%N/A4.12
CNO Financial Group, Inc. (CNO)1.51%$3.81B4.84%N/A1.78
Selective Insurance Group, Inc. (SIGI)1.51%$4.63B9.43%N/A1.16
Intact Financial Corp. (IFC)1.51%$35.46B2.50%N/A1.87
The Travelers Cos., Inc. (TRV)1.51%$62.43B4.75%N/A1.50
Paramount Group, Inc. (PGRE)1.50%$1.56B-11.26%20.70%7.70
ProAssurance Corp. (PRA)1.50%$1.23B-2.00%N/A1.50
Hallmark Financial Services, Inc. (HALL)1.49%$0.09M-60.49%N/A0.82
American International Group, Inc. (AIG)1.49%$41.18B-5.93%N/A1.94
The Hartford Insurance Group, Inc. (HIG)1.49%$36.15B7.12%N/A1.53
Ryan Specialty Holdings, Inc. (RYAN)1.48%$14.21B24.08%N/A6.52
CNA Financial Corp. (CNA)1.48%$11.96B5.50%N/A1.09
The Allstate Corp. (ALL)1.46%$52.56B3.78%N/A1.01
Horace Mann Educators Corp. (HMN)1.45%$1.79B6.41%N/A1.62
RLI Corp. (RLI)1.45%$5.70B7.99%N/A3.35
NI Holdings, Inc. (NODK)1.45%$274.26M-13.95%N/A0.96
American Financial Group, Inc. (AFG)1.43%$11.04B-2.46%N/A1.73
HCI Group, Inc. (HCI)1.43%$2.20B23.41%N/A3.16
Goosehead Insurance, Inc. (GSHD)1.42%$2.72B15.89%N/A8.64
Employers Holdings, Inc. (EIG)1.42%$881.41M6.83%N/A1.10
Progressive Corp. (PGR)1.39%$130.86B14.15%N/A1.79
Global Indemnity Group LLC (GBLI)1.39%$394.77M2.18%N/A0.97
Primerica, Inc. (PRI)1.37%$8.02B8.14%N/A3.32
W.R. Berkley Corp. (WRB)1.36%$25.31B10.82%N/A2.30
The Cigna Group (CI)1.35%$70.40B11.15%N/A0.42
Sterling Infrastructure, Inc. (STRL)1.34%$9.97B16.05%23.83%4.75
Verisk Analytics, Inc. (VRSK)1.32%$30.52B5.93%59.42%12.54
Kinsale Capital Group, Inc. (KNSL)1.29%$8.25B19.00%N/A5.60
AMERISAFE, Inc. (AMSF)1.27%$691.69M4.17%N/A2.70
Trupanion, Inc. (TRUP)1.27%$1.61B12.05%N/A1.43
Avis Budget Group, Inc. (CAR)1.27%$4.65B1.12%36.18%2.89
Carnival Corp. (CCL)1.25%$33.83B3.25%37.42%2.70
Regional Management Corp. (RM)1.24%$353.55M13.09%97.45%3.02
World Acceptance Corp. (WRLD)1.23%$693.59M2.33%98.32%2.64
Citizens, Inc. (Austin, Texas) (CIA)1.22%$237.40M1.74%N/A1.10
Hippo Holdings, Inc. (HIPO)1.21%$759.80M26.28%N/A2.21
Arthur J. Gallagher & Co. (AJG)1.19%$61.08B21.66%90.60%7.13
Root, Inc. (ROOT)1.17%$1.24B26.86%N/A1.17
Kemper Corp. (KMPR)1.16%$2.28B5.22%N/A0.86
Royal Caribbean Group (RCL)1.13%$68.84B5.18%43.45%6.27
CCC Intelligent Solutions Holdings, Inc. (CCCS)1.12%$4.67B12.01%64.50%6.58
Open Lending Corp. (LPRO)1.11%$205.65M2.95%76.73%9.00
Baldwin Insurance Group, Inc. (BRP)1.08%$2.70B7.80%16.75%2.58
Insperity, Inc. (NSP)1.02%$1.34B3.97%11.34%0.26
SelectQuote, Inc. (SLQT)1.00%$237.56M12.51%20.26%0.65
Presurance Holdings, Inc. (CNFR)0.84%$11.49M-58.30%N/A0.63
Porch Group, Inc. (PRCH)0.79%$1.03B6.19%65.08%4.71
Tingo Group, Inc. (MICT)0.26%$0.51M162.29%N/A-2.27
WesBanco, Inc. (WSBC)<0.01%$3.18B58.41%N/A3.80
Market data by FactSet

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