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Central Reinsurance Corporation

Central Reinsurance Corporation

TTWSE:2851
50.50
TWD
+0.20
(+0.40%)
3.19EPS
8.23P/E
21.01BMarket Cap
Central Reinsurance Corporation
TWSE:2851
(Taiwan Stock Exchange)

Recent

price

50.50

P/E

ratio

8.23

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
22.18
21.7
23.63
25.24
26.78
23.12
22.09
23.99
24.44
26.45
29.02
34.64
34.54
27.45
28.59
28.61
28.12
Revenue per Share
1.16
0.26
1.12
1.2
1.43
1.26
1.26
2.28
1.73
1.81
2.49
3.5
0.41
2.61
3.14
3.66
3.19
Basic EPS, GAAP
4.38
-0.28
2.29
1.2
1.94
1.61
1.8
2.4
2.54
-7.58
4.89
5.35
3.39
-9.2
-2.19
2.9
4.17
Free Cash Flow per Basic Share
1.36
0.91
- -
0.45
1.11
1.11
0.65
0.46
0.92
0.87
0.87
1.3
1.72
- -
1.4
1.9
- -
Dividend per Share
13.22
11.7
13.14
14.85
15.54
15.37
15.61
18.49
18.4
19.77
22.04
27.2
21.24
23.81
26.12
27.12
27.12
Book Value per Share
13.2
11.7
13.13
14.84
15.54
15.36
15.61
18.49
18.39
19.75
22.03
27.19
21.22
23.8
26.1
27.1
27.1
Tangible Book Value per Share
608
608
607
609
608
608
608
608
608
608
608
590
618
801
800
800
802
Basic Weighted Avg Shares
13,495
13,205
14,351
15,384
16,284
14,068
13,444
14,600
14,872
16,093
17,657
20,441
21,338
21,978
22,887
22,898
22,545
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
16
16
11
8
9
11
11
11
11
11
13
13
22
27
27
31
30
Depreciation Expense
705
158
679
732
871
766
766
1,389
1,050
1,104
1,516
2,065
253
2,090
2,515
2,933
2,558
Net Income, GAAP
14.08
12.16
14.45
22.51
13
22
16.1
17.99
23.75
26.76
15.26
16.43
- -
16.23
15.16
13.83
13.71
Effective Tax Rate (%)
5.22
1.2
4.73
4.76
5.35
5.44
5.7
9.52
7.06
6.86
8.58
10.1
1.19
9.51
10.99
12.81
11.34
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
- -
1
2
1
1
- -
- -
LT Debt
8,046
7,121
7,994
9,034
9,457
9,349
9,499
11,251
11,198
12,029
13,409
16,552
16,998
19,054
20,903
21,706
21,706
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
8.73
2.08
8.98
8.6
9.42
8.14
8.13
13.39
9.35
9.51
11.92
13.78
- -
11.59
12.59
13.76
12.15
Return on Capital (%)
8.73
2.08
8.98
8.6
9.42
8.14
8.13
13.39
9.35
9.51
11.92
13.78
1.51
11.59
12.59
13.77
12.15
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Mar'25
Jun'25
Dec'25
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
1
1
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
800
800
800
Market Capitalization
21,731
18,249
21,010

Working Capital

TWD

•

in mil. unless spec.
Mar'25
Jun'25
Dec'25
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
8,780
9,556
12,487
Accounts Receivable, Net
857
517
1,725
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.02%
10.35%
3.84%
Free Cash Flow
-130%
-157.72%
-232.58%
Net Income, GAAP
81%
142.12%
16.6%
Sales/Revenue/Turnover
5.13%
5.47%
0.05%
Total Cash Common Dividend
- -
- -
35.71%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
5,440
5,527
5,693
5,318
21,978
2024
6,378
5,881
5,069
5,559
22,887
2025
5,793
4,260
- -
6,934
22,898

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.81
0.66
0.45
0.69
2.61
2024
1.34
1
0.29
0.52
3.14
2025
0.78
0.23
- -
1.67
3.66

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
- -
2024
- -
- -
- -
- -
1.4
2025
- -
- -
- -
- -
1.9
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Business
Central Reinsurance Corporation (2851.TW) is Taiwan's sole domestic reinsurance provider, specializing in inward and outward reinsurance for non-life and life insurance companies domestically and internationally. The company undertakes a comprehensive range of non-life reinsurance products, including fire reinsurance, marine hull reinsurance, marine cargo reinsurance, automobile reinsurance, aviation reinsurance, engineering reinsurance, other property reinsurance, fishing vessel reinsurance, compulsory automobile reinsurance, compulsory motorcycle reinsurance, and residential earthquake reinsurance; it also offers life reinsurance, personal accident reinsurance, health reinsurance, casualty reinsurance, and risk management solutions. Founded on October 31, 1968, by the Ministry of Finance and headquartered at 12F, No. 53, Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 104, Taiwan, Central Reinsurance maintains paid-up capital of NT$8,003.8875 million and listed on the Taiwan Stock Exchange in 2000. The Evergreen Group serves as its major shareholder following privatization in 2002, supporting operations across Taiwan and global markets with approximately 172 employees. In recent developments, the company reports steady financial performance with gross operating income meeting budgeted targets in 2024, alongside strengthened capital adequacy and surplus as affirmed by A.M. Best ratings; it conducted a by-election for an independent director in 2024 to align governance with future growth needs, while publishing updated financial statements through June 30, 2025, reflecting ongoing stability amid reinsurance market dynamics.