New Risk • 1h
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ৳606m (US$4.9m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Revenue is less than US$5m (৳606m revenue, or US$4.9m). Market cap is less than US$100m (৳2.58b market cap, or US$20.9m). Announcement • Jul 16
Union Insurance PLC to Report Q2, 2026 Results on Jul 23, 2026 Union Insurance PLC announced that they will report Q2, 2026 results on Jul 23, 2026 Buy Or Sell Opportunity • Jul 12
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to ৳50.00. The fair value is estimated to be ৳40.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 3.8%. Upcoming Dividend • Jun 21
Upcoming dividend of ৳1.00 per share Eligible shareholders must have bought the stock before 28 June 2026. Payment date: 24 September 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Bangladeshi dividend payers (3.5%). In line with average of industry peers (2.5%). New Risk • May 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Market cap is less than US$100m (৳1.88b market cap, or US$15.3m). Announcement • May 13
Union Insurance PLC announces Annual dividend, payable on September 24, 2026 Union Insurance PLC announced Annual dividend of BDT 1.0000 per share payable on September 24, 2026, ex-date on June 28, 2026 and record date on June 25, 2026. Announcement • May 12
Union Insurance PLC, Annual General Meeting, Aug 25, 2026 Union Insurance PLC, Annual General Meeting, Aug 25, 2026, at 10:00 Central Asia Standard Time. Location: institution of diploma engineers, Bangladesh Announcement • May 05
Union Insurance PLC to Report Fiscal Year 2025 Results on May 11, 2026 Union Insurance PLC announced that they will report fiscal year 2025 results on May 11, 2026 Announcement • Oct 23
Union Insurance Co. Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Union Insurance Co. Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Announcement • Jul 21
Union Insurance Co. Ltd. to Report Q2, 2025 Results on Jul 27, 2025 Union Insurance Co. Ltd. announced that they will report Q2, 2025 results on Jul 27, 2025 Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ৳26.30, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 16x in the Insurance industry in Bangladesh. Total loss to shareholders of 63% over the past year. Announcement • Oct 21
Union Insurance Co. Ltd. to Report Q3, 2024 Results on Oct 27, 2024 Union Insurance Co. Ltd. announced that they will report Q3, 2024 results on Oct 27, 2024 Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ৳23.80, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 16x in the Insurance industry in Bangladesh. Total loss to shareholders of 67% over the past year. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ৳27.60, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 17x in the Insurance industry in Bangladesh. Total loss to shareholders of 59% over the past year. Buy Or Sell Opportunity • Sep 08
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ৳34.20. The fair value is estimated to be ৳43.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: ৳0.37 (vs ৳0.82 in 2Q 2023) Second quarter 2024 results: EPS: ৳0.37 (down from ৳0.82 in 2Q 2023). Revenue: ৳177.1m (down 18% from 2Q 2023). Net income: ৳17.7m (down 55% from 2Q 2023). Profit margin: 10.0% (down from 18% in 2Q 2023). The decrease in margin was driven by lower revenue. Buy Or Sell Opportunity • Aug 21
Now 20% undervalued Over the last 90 days, the stock has risen 2.6% to ৳35.70. The fair value is estimated to be ৳44.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 23%. Announcement • Aug 20
Union Insurance Co. Ltd. to Report Q2, 2024 Results on Aug 22, 2024 Union Insurance Co. Ltd. announced that they will report Q2, 2024 results on Aug 22, 2024 New Risk • Jul 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Bangladeshi stocks, typically moving 7.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.5% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (৳1.92b market cap, or US$16.4m). Reported Earnings • Jul 17
First quarter 2024 earnings released: EPS: ৳0.66 (vs ৳0.89 in 1Q 2023) First quarter 2024 results: EPS: ৳0.66 (down from ৳0.89 in 1Q 2023). Revenue: ৳124.5m (down 6.8% from 1Q 2023). Net income: ৳32.2m (down 25% from 1Q 2023). Profit margin: 26% (down from 32% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Buy Or Sell Opportunity • Jul 08
Now 21% overvalued Over the last 90 days, the stock has fallen 7.6% to ৳42.40. The fair value is estimated to be ৳35.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 34%. Upcoming Dividend • Jun 19
Upcoming dividend of ৳1.00 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 02 October 2024. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Bangladeshi dividend payers (4.6%). In line with average of industry peers (3.3%). New Risk • Jun 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (৳1.77b market cap, or US$15.1m). Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ৳36.10, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 20x in the Insurance industry in Bangladesh. Total loss to shareholders of 28% over the past year. Announcement • May 16
Union Insurance Co. Ltd., Annual General Meeting, Sep 02, 2024 Union Insurance Co. Ltd., Annual General Meeting, Sep 02, 2024, at 12:00 Central Asia Standard Time. Announcement • May 15
Union Insurance Co. Ltd. Recommends Cash Dividend for the Year Ended December 31, 2023 Union Insurance Co. Ltd. Board of Directors has recommended 10% Cash Dividend for the year ended December 31, 2023. Date of AGM is September 02, 2024; Record date is June 25, 2024. Buy Or Sell Opportunity • May 13
Now 22% overvalued Over the last 90 days, the stock has fallen 21% to ৳42.90. The fair value is estimated to be ৳35.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 34%. Announcement • May 11
Union Insurance Co. Ltd. to Report Q1, 2024 Results on May 13, 2024 Union Insurance Co. Ltd. announced that they will report Q1, 2024 results on May 13, 2024 Buy Or Sell Opportunity • Mar 28
Now 21% overvalued Over the last 90 days, the stock has fallen 24% to ৳42.50. The fair value is estimated to be ৳35.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 34%. Reported Earnings • Nov 20
Third quarter 2023 earnings released: EPS: ৳1.13 (vs ৳0.46 loss in 3Q 2022) Third quarter 2023 results: EPS: ৳1.13 (up from ৳0.46 loss in 3Q 2022). Revenue: ৳180.1m (flat on 3Q 2022). Net income: ৳54.9m (up ৳77.1m from 3Q 2022). Profit margin: 31% (up from net loss in 3Q 2022). Announcement • Oct 24
Union Insurance Co. Ltd. to Report Q3, 2023 Results on Oct 29, 2023 Union Insurance Co. Ltd. announced that they will report Q3, 2023 results on Oct 29, 2023 Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ৳73.00, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 23x in the Insurance industry in Bangladesh. Total returns to shareholders of 122% over the past year. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ৳75.20, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 24x in the Insurance industry in Bangladesh. Total returns to shareholders of 132% over the past year. Reported Earnings • Sep 07
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ৳183.6m (up 41% from 2Q 2022). Net income: ৳39.4m (up ৳33.5m from 2Q 2022). Profit margin: 22% (up from 4.5% in 2Q 2022). The increase in margin was driven by higher revenue. Announcement • Jul 28
Union Insurance Co. Ltd. to Report Q2, 2023 Results on Jul 30, 2023 Union Insurance Co. Ltd. announced that they will report Q2, 2023 results on Jul 30, 2023 Upcoming Dividend • Jul 17
Upcoming dividend of ৳1.00 per share at 1.7% yield Eligible shareholders must have bought the stock before 24 July 2023. Payment date: 22 October 2023. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Bangladeshi dividend payers (3.4%). Lower than average of industry peers (2.5%). New Risk • Jul 06
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: ৳13m (US$116k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. High level of non-cash earnings (24% accrual ratio). Revenue is less than US$1m (৳13m revenue, or US$116k). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (৳2.76b market cap, or US$25.4m). Reported Earnings • Jul 06
First quarter 2023 earnings released First quarter 2023 results: Net income: ৳42.9m (down 66% from 1Q 2022). Announcement • Jun 15
Union Insurance Co. Ltd., Annual General Meeting, Sep 20, 2023 Union Insurance Co. Ltd., Annual General Meeting, Sep 20, 2023, at 12:00 Bangladesh Standard Time. New Risk • Jun 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Bangladeshi stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2022 fiscal period end). Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (৳2.47b market cap, or US$22.7m). Announcement • Jun 15
Union Insurance Co. Ltd. Recommends Cash Dividend for the Year Ended December 31, 2022 Union Insurance Co. Ltd. has recommended 10% cash dividend for the year ended December 31, 2022. Announcement • Jun 09
Union Insurance Co. Ltd. to Report Fiscal Year 2022 Results on Jun 13, 2023 Union Insurance Co. Ltd. announced that they will report fiscal year 2022 results on Jun 13, 2023 Announcement • Jun 10
Union Insurance Company Limited Proposes Dividend for the Year Ended December 31, 2021 The Board of Directors of Union Insurance Company Limited has recommended 5% cash dividend for the year ended December 31, 2021 to the general meeting to be held on September 19, 2022. The Record date is July 20, 2022. 
