C

Global P&C Insurance MarketCap Index

GPAC

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Index Performance

-0.92%
GPAC
+5.50%
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 12, 2025
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Universal Insurance Holdings, Inc. (UVE)1.86%$926.17M3.46%N/A0.55
Lemonade, Inc. (LMND)1.83%$5.82B44.14%N/A7.64
SiriusPoint Ltd. (SPNT)1.82%$2.62B34.45%N/A1.08
James River Group Holdings, Inc. (JRVR)1.79%$310.27M-9.80%N/A1.11
Mercury General Corp. (MCY)1.69%$5.18B3.56%N/A0.91
United Fire Group, Inc. (UFCS)1.68%$937.91M9.62%N/A0.70
Kingstone Cos., Inc. (KINS)1.68%$225.93M40.86%N/A1.20
Old Republic International Corp. (ORI)1.63%$11.21B3.54%N/A1.40
Brighthouse Financial, Inc. (BHF)1.63%$3.74B-10.01%N/A1.00
Chubb Ltd. (CB)1.62%$121.40B8.19%N/A2.41
Markel Group, Inc. (MKL)1.60%$27.34B-5.29%N/A1.78
APA Corp. (APA)1.60%$9.20B-16.44%38.68%1.42
Principal Financial Group, Inc. (PFG)1.59%$19.76B22.25%N/A1.46
Greenlight Capital Re Ltd. (GLRE)1.59%$486.25M7.80%N/A0.67
American International Group, Inc. (AIG)1.59%$45.81B-5.93%N/A1.94
AXIS Capital Holdings Ltd. (AXS)1.57%$8.04B5.88%N/A1.52
Assurant, Inc. (AIZ)1.57%$11.48B8.89%N/A1.06
Safety Insurance Group, Inc. (SAFT)1.57%$1.17B10.15%N/A0.89
Palomar Holdings, Inc. (PLMR)1.56%$3.35B65.11%N/A4.12
EverQuote, Inc. (EVER)1.56%$997.42M20.35%97.29%1.12
Loews Corp. (L)1.55%$21.56B4.59%N/A1.71
Cavco Industries, Inc. (CVCO)1.54%$4.66B9.67%24.15%1.96
Selective Insurance Group, Inc. (SIGI)1.53%$4.97B9.43%N/A1.16
Cincinnati Financial Corp. (CINF)1.53%$25.88B12.23%N/A2.14
The Hanover Insurance Group, Inc. (THG)1.52%$6.59B6.37%N/A1.21
Arch Capital Group Ltd. (ACGL)1.52%$34.06B9.32%N/A1.98
Hallmark Financial Services, Inc. (HALL)1.50%$0.10M-60.49%N/A0.82
Intact Financial Corp. (IFC)1.50%$36.62B2.50%N/A1.87
CNO Financial Group, Inc. (CNO)1.50%$3.93B4.84%N/A1.78
The Hartford Insurance Group, Inc. (HIG)1.48%$37.70B7.12%N/A1.53
HCI Group, Inc. (HCI)1.48%$2.43B23.41%N/A3.16
The Travelers Cos., Inc. (TRV)1.48%$63.64B4.75%N/A1.50
CNA Financial Corp. (CNA)1.48%$12.60B5.50%N/A1.09
Ryan Specialty Holdings, Inc. (RYAN)1.46%$14.31B24.08%N/A6.52
ProAssurance Corp. (PRA)1.46%$1.25B-2.00%N/A1.50
Horace Mann Educators Corp. (HMN)1.45%$1.88B6.41%N/A1.62
Paramount Group, Inc. (PGRE)1.45%$1.57B-11.26%20.70%7.70
The Allstate Corp. (ALL)1.45%$54.22B3.78%N/A1.01
Employers Holdings, Inc. (EIG)1.44%$946.60M6.83%N/A1.10
Goosehead Insurance, Inc. (GSHD)1.43%$2.87B15.89%N/A8.64
RLI Corp. (RLI)1.43%$5.91B7.99%N/A3.35
NI Holdings, Inc. (NODK)1.42%$286.01M-13.95%N/A0.96
American Financial Group, Inc. (AFG)1.42%$11.45B-2.46%N/A1.73
Progressive Corp. (PGR)1.39%$137.72B14.15%N/A1.79
Global Indemnity Group LLC (GBLI)1.38%$406.68M2.18%N/A0.97
The Cigna Group (CI)1.35%$73.38B11.15%N/A0.42
W.R. Berkley Corp. (WRB)1.35%$26.35B10.82%N/A2.30
Primerica, Inc. (PRI)1.34%$8.24B8.14%N/A3.32
AMERISAFE, Inc. (AMSF)1.33%$741.46M4.17%N/A2.70
Kinsale Capital Group, Inc. (KNSL)1.31%$9.11B19.00%N/A5.60
Regional Management Corp. (RM)1.30%$389.29M13.09%97.45%3.02
Carnival Corp. (CCL)1.30%$35.97B3.25%37.42%2.70
Verisk Analytics, Inc. (VRSK)1.28%$30.26B5.93%59.42%12.54
Citizens, Inc. (Austin, Texas) (CIA)1.25%$259.53M1.74%N/A1.10
Sterling Infrastructure, Inc. (STRL)1.25%$9.68B16.05%23.83%4.75
World Acceptance Corp. (WRLD)1.23%$747.85M2.33%98.32%2.64
Arthur J. Gallagher & Co. (AJG)1.22%$65.58B21.66%90.60%7.13
Royal Caribbean Group (RCL)1.22%$76.05B5.18%43.45%6.27
Hippo Holdings, Inc. (HIPO)1.19%$787.16M26.28%N/A2.21
Avis Budget Group, Inc. (CAR)1.19%$4.61B1.12%36.18%2.89
CCC Intelligent Solutions Holdings, Inc. (CCCS)1.15%$4.92B12.01%64.50%6.58
Trupanion, Inc. (TRUP)1.15%$1.57B12.05%N/A1.43
Kemper Corp. (KMPR)1.15%$2.42B5.22%N/A0.86
Root, Inc. (ROOT)1.13%$1.26B26.86%N/A1.17
Baldwin Insurance Group, Inc. (BRP)1.13%$2.86B7.80%16.75%2.58
Insperity, Inc. (NSP)1.10%$1.46B3.97%11.34%0.26
Open Lending Corp. (LPRO)1.08%$199.74M2.95%76.73%9.00
SelectQuote, Inc. (SLQT)1.03%$260.44M12.51%20.26%0.65
Presurance Holdings, Inc. (CNFR)0.95%$13.26M-58.30%N/A0.63
Porch Group, Inc. (PRCH)0.75%$1.05B6.19%65.08%4.71
Tingo Group, Inc. (MICT)0.47%$1.57M162.29%N/A-2.27
WesBanco, Inc. (WSBC)<0.01%$3.36B58.41%N/A3.80
Market data by FactSet

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