Fundamental Global Inc. FGF

Competitive advantage analysis · financial-services

Insurance & Reinsurance
Overall moat score
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Ranked against 17 peers in Insurance - Diversified

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Underwriting Discipline

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Signals, strengths and risks for Underwriting Discipline

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Signals, strengths and risks for Float Investment Quality

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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Capital Strength & Solvency

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Signals, strengths and risks for Operational Efficiency

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Signals, strengths and risks for Scale & Diversification

Where FGF ranks in Insurance - Diversified

Fundamental Global Inc. ranks #16 of 17 scored companies in Insurance - Diversified by moat score — the top 94%. The widest moat in the group is Arch Capital Group Ltd. (ACGL) at 81/100.

# Company Moat score Rating
9 Sun Life Financial Inc. SLF 40/100 Developing
10 Berkshire Hathaway Inc. New BRK-B 39/100 Developing
11 Brookfield Wealth Solutions Ltd BNT 39/100 Developing
12 Fidelis Insurance Holdings Limi FIHL 32/100 Developing
13 Enstar Group Limited ESGR 0/100 Weak
14 Enstar Group Limited - Deposito ESGRO 0/100 Weak
15 Enstar Group Limited - Deposita ESGRP 0/100 Weak
16 Fundamental Global Inc. FGF 0/100 Weak
17 Fundamental Global Inc. - 8.00% FGFPP 0/100 Weak

See every Insurance & Reinsurance company ranked by moat score →

How FGF scores on the Insurance & Reinsurance defenses

Underwriting Discipline

Not measurable · 25% of the moat score

Underwriting discipline is the core insurance moat, and it consists mostly of the willingness to lose business.

Float Investment Quality

Not measurable · 20% of the moat score

Float is the money an insurer holds between collecting premiums and paying claims — capital it invests but does not own.

Pricing Power

Not measurable · 18% of the moat score

For an insurer, pricing power is the ability to push rate ahead of claims inflation and keep the policyholders anyway.

Capital Strength & Solvency

Not measurable · 17% of the moat score

Capital is what lets an insurer credibly promise to pay a claim that has not happened yet, and it is scrutinised by regulators and rating agencies alike.

Operational Efficiency

Not measurable · 12% of the moat score

The expense ratio — what it costs to acquire and administer a policy — is the half of the combined ratio management fully controls.

Scale & Diversification

Not measurable · 8% of the moat score

Diversification is a real economic advantage in insurance rather than a portfolio preference: risks spread across perils, geographies and lines are less likely to arrive at once, so the same capital supports more premium.

How each Insurance & Reinsurance defense is measured, in full →

Understanding FGF's moat

What is Fundamental Global Inc.'s moat score?

Fundamental Global Inc. (FGF) scores 0 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #16 of 17 scored companies in Insurance - Diversified, the top 94%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 17 companies in Insurance - Diversified.

How does Fundamental Global Inc. compare with other Insurance - Diversified companies?

Fundamental Global Inc. ranks #16 of 17 scored companies in Insurance - Diversified by moat score. The widest moat in Insurance - Diversified is Arch Capital Group Ltd. (ACGL) at 81/100. The companies ranked closest are Enstar Group Limited - Deposita (ESGRP) at 0 just above it and Fundamental Global Inc. - 8.00% (FGFPP) at 0 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Insurance & Reinsurance in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 17 companies in Insurance - Diversified. The defenses are then weighted to produce the overall score out of 100.

Why is Fundamental Global Inc. scored with the Insurance & Reinsurance template?

An insurer is paid before it knows what its product cost, and invests the money in the meantime. Profit therefore comes from two sources that must both work: pricing risk better than rivals, and earning a return on the float those premiums create. The Insurance template scores that pair, along with the capital that lets a company survive the year in which the losses arrive together.

Which competitive defenses are measured for Fundamental Global Inc.?

The Insurance & Reinsurance template measures 6 defenses, and FGF scores: Underwriting Discipline (not measurable), Float Investment Quality (not measurable), Pricing Power (not measurable), Capital Strength & Solvency (not measurable), Operational Efficiency (not measurable), Scale & Diversification (not measurable). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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