SGX:S49

Stock Analysis Report

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

Fundamentals

Excellent balance sheet with moderate growth potential.

Risks

  • Singapore Reinsurance is not covered by any analysts.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

SGX:S49

-1.6%

SG Insurance

-1.3%

SG Market


1 Year Return

-9.7%

SGX:S49

-11.1%

SG Insurance

-3.3%

SG Market

S49 underperformed the Insurance industry which returned 8.7% over the past year.

S49 underperformed the Market in Singapore which returned -3.3% over the past year.


Share holder returns

S49IndustryMarket
7 Day0%-1.6%-1.3%
30 Day-5.1%-4.8%-6.6%
90 Day-3.4%-5.4%-2.5%
1 Year-7.1%-9.7%-9.0%-11.1%0.5%-3.3%
3 Year2.6%-8.2%23.9%15.5%15.0%2.9%
5 Year16.3%-5.1%19.8%6.3%7.4%-10.4%

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 based on future cash flows and its price relative to the stock market?

19.56x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Singapore Reinsurance's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Singapore Reinsurance's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Singapore Reinsurance is overvalued based on earnings compared to the Asia Insurance industry average.

Singapore Reinsurance is overvalued based on earnings compared to the Singapore market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Singapore Reinsurance, we can't assess if its growth is good value.


Price Based on Value of Assets

Singapore Reinsurance is good value based on assets compared to the Asia Insurance industry average.


Next Steps

Future Growth

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

21.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if Singapore Reinsurance is high growth as no revenue estimate data is available.

Singapore Reinsurance's earnings are expected to grow significantly at over 20% yearly.

Unable to compare Singapore Reinsurance's revenue growth to the Singapore market average as no estimate data is available.

Singapore Reinsurance's earnings growth is expected to exceed the Singapore market average.

Singapore Reinsurance's earnings growth is expected to exceed the low risk savings rate of 2.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Singapore Reinsurance will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Singapore Reinsurance performed over the past 5 years?

-16.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Singapore Reinsurance's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.

Singapore Reinsurance's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Singapore Reinsurance's 1-year earnings growth is negative, it can't be compared to the Asia Insurance industry average.


Return on Equity

Singapore Reinsurance has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Singapore Reinsurance used its assets less efficiently than the Asia Insurance industry average last year based on Return on Assets.


Return on Capital Employed

Singapore Reinsurance's use of capital has not improved over the past 3 years (Return on Capital Employed).


Next Steps

Financial Health

How is Singapore Reinsurance's financial position?


Financial Position Analysis

Singapore Reinsurance's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Singapore Reinsurance's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Singapore Reinsurance has no debt.

Singapore Reinsurance has not taken on any debt in the past 5 years.

Singapore Reinsurance has no debt, it does not need to be covered by operating cash flow.

Singapore Reinsurance has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Low level of unsold assets.

Singapore Reinsurance has no debt, it does not need to be covered by short term assets.


Next Steps

Dividend

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

4.64%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Singapore Reinsurance before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Singapore Reinsurance's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.65%).

Singapore Reinsurance's dividend is below the markets top 25% of dividend payers in Singapore (5.73%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are not well covered by earnings (1.1x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Singapore Reinsurance's salary, the management and board of directors tenure and is there insider trading?

4.7yrs

Average management tenure


CEO

Theresa Wee (53yo)

5.4yrs

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 ...


Management Age and Tenure

4.7yrs

Average Tenure

53yo

Average Age

The tenure for the Singapore Reinsurance management team is about average.


Board Age and Tenure

4.0yrs

Average Tenure

65yo

Average Age

The tenure for the Singapore Reinsurance board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Swee Tan

    Joint Company Secretary

    • Tenure: 4.7yrs
  • Sivam Subramaniam

    Chairman of INS Communications Pvt Ltd

  • Beng Ong

    Joint Company Secretary

    • Tenure: 4.7yrs
  • Soo Jin Hwang (83yo)

    Senior Advisor

    • Tenure: 0.3yrs
  • Stephen Teck

    Consultant

  • Fon Yin Lee

    Head of Internal Audit & Compliance

    • Tenure: 1.8yrs
  • Mervyn Low (52yo)

    General Manager - Operations

    • Tenure: 6.9yrs
  • Carlene Lim

    Financial Controller

    • Tenure: 8.6yrs
  • Theresa Wee (53yo)

    Chief Executive & Chief GM

    • Tenure: 5.4yrs
  • Simon Min

    Chief Representative Officer of Shanghai Office


Board Members

  • David Chan (65yo)

    Deputy Chairman

    • Tenure: 11.6yrs
  • Sivam Subramaniam

    Chairman of INS Communications Pvt Ltd

  • Ramaswamy Athappan (74yo)

    Chairman of the Board

    • Tenure: 11.6yrs
  • Peter Sim (64yo)

    Non-Executive & Independent Director

    • Tenure: 4.0yrs
  • Eng Yaw Ong (47yo)

    Non-Executive & Independent Director

    • Tenure: 4.0yrs
  • Dileep Nair (68yo)

    Non-Executive & Independent Director

    • Tenure: 3.8yrs

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$169.462m
  • Shares outstanding: 605.22m
  • Website: Click here

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 Analysis2019/08/18 12:40
End of Day Share Price2019/08/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.