SGX:S49

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Singapore Reinsurance

Executive Summary

Singapore Reinsurance Corporation Limited, together with its subsidiaries, operates as a general reinsurance company in Singapore, Malaysia, Greater China, and internationally.


Snowflake Analysis

Flawless balance sheet with proven track record.

Share Price & News

How has Singapore Reinsurance's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: S49 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

S49

-1.3%

SG Insurance

-1.0%

SG Market


1 Year Return

-5.2%

S49

-11.8%

SG Insurance

-22.1%

SG Market

Return vs Industry: S49 exceeded the SG Insurance industry which returned -11.8% over the past year.

Return vs Market: S49 exceeded the SG Market which returned -22.1% over the past year.


Shareholder returns

S49IndustryMarket
7 Day0%-1.3%-1.0%
30 Day0%-1.4%-3.2%
90 Day0%5.2%0.2%
1 Year-0.8%-5.2%-8.9%-11.8%-18.1%-22.1%
3 Year-3.6%-15.4%-5.0%-12.6%-16.4%-26.3%
5 Year5.7%-15.4%7.0%-5.7%-6.3%-23.0%

Price Volatility Vs. Market

How volatile is Singapore Reinsurance's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Singapore Reinsurance undervalued compared to its fair value and its price relative to the market?

16.95x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: S49 (SGD0.28) is trading above our estimate of fair value (SGD0.15)

Significantly Below Fair Value: S49 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: S49 is poor value based on its PE Ratio (17x) compared to the XA Insurance industry average (11.8x).

PE vs Market: S49 is poor value based on its PE Ratio (17x) compared to the SG market (12.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate S49's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: S49 is good value based on its PB Ratio (0.6x) compared to the XA Insurance industry average (1x).


Next Steps

Future Growth

How is Singapore Reinsurance forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.3%

Forecasted Insurance industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Singapore Reinsurance has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Singapore Reinsurance performed over the past 5 years?

-9.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: S49 has high quality earnings.

Growing Profit Margin: S49's current net profit margins (9.1%) are higher than last year (7.6%).


Past Earnings Growth Analysis

Earnings Trend: S49's earnings have declined by 9.3% per year over the past 5 years.

Accelerating Growth: S49's earnings growth over the past year (11.7%) exceeds its 5-year average (-9.3% per year).

Earnings vs Industry: S49 earnings growth over the past year (11.7%) exceeded the Insurance industry 6.8%.


Return on Equity

High ROE: S49's Return on Equity (3.6%) is considered low.


Next Steps

Financial Health

How is Singapore Reinsurance's financial position?


Financial Position Analysis

Short Term Liabilities: S49's short term assets (SGD533.1M) exceed its short term liabilities (SGD430.0M).

Long Term Liabilities: S49's short term assets (SGD533.1M) exceed its long term liabilities (SGD179.8M).


Debt to Equity History and Analysis

Debt Level: S49 is debt free.

Reducing Debt: S49 has not had any debt for past 5 years.

Debt Coverage: S49 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: S49 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Singapore Reinsurance current dividend yield, its reliability and sustainability?

4.73%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: S49's dividend (4.73%) is higher than the bottom 25% of dividend payers in the SG market (2.67%).

High Dividend: S49's dividend (4.73%) is low compared to the top 25% of dividend payers in the SG market (6%).


Stability and Growth of Payments

Stable Dividend: S49's dividend payments have been volatile in the past 10 years.

Growing Dividend: S49's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (80.1%), S49's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average management tenure


CEO

Theresa Wee (54 yo)

6.42yrs

Tenure

Ms. Sui Ling Wee, also known as Theresa, BSoc Sc (Hons), ACII , GDFM, has been Chief Executive and Chief General Manager at Singapore Reinsurance Corporation Ltd since March 20, 2014 and May 25, 2005 respe ...


Leadership Team

NamePositionTenureCompensationOwnership
Sui Ling Wee
Chief Executive & Chief GM6.42yrsno datano data
Lay Hoon Lim
Financial Controller 9.58yrsno datano data
Cheng Chwee Low
General Manager of Operations7.92yrsno datano data
Fon Yin Lee
Head of Internal Audit & Compliance2.75yrsno datano data
Mokanasivam Subramaniam
Managing Director of INS Communications Pvt Ltdno datano datano data
Soo Jin Hwang
Senior Advisor1.33yrsno datano data
Yao Min
Chief Representative Officer of Shanghai Officeno datano datano data
Beng Ong
Joint Company Secretary5.67yrsno datano data
Swee Gek Tan
Joint Company Secretary5.67yrsno datano data
Kay Teck
Consultantno datano datano data

5.7yrs

Average Tenure

54yo

Average Age

Experienced Management: S49's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Mun Wai Chan
Deputy Chairman12.58yrsno data0.012%
SGD 20.1k
Ramaswamy Athappan
Chairman of the Board12.58yrsno data0.030%
SGD 49.1k
Swee Yam Sim
Non-Executive & Independent Director5yrsno datano data
Eng Yaw Ong
Non-Executive & Independent Director5yrsno datano data
Dileep Nair
Non-Executive & Independent Director4.83yrsno datano data

5.0yrs

Average Tenure

66yo

Average Age

Experienced Board: S49's board of directors are considered experienced (5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Singapore Reinsurance Corporation Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Singapore Reinsurance Corporation Limited
  • Ticker: S49
  • Exchange: SGX
  • Founded: 1973
  • Industry: Reinsurance
  • Sector: Insurance
  • Market Cap: S$164.260m
  • Shares outstanding: 597.31m
  • Website: https://www.singre.com.sg

Location

  • Singapore Reinsurance Corporation Limited
  • 85 Amoy Street
  • Singapore
  • 69904
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
S49SGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992

Biography

Singapore Reinsurance Corporation Limited, together with its subsidiaries, operates as a general reinsurance company in Singapore, Malaysia, Greater China, and internationally. It operates through two segm ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/02 12:34
End of Day Share Price2020/07/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.