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← CockpitCompetitor Analysis › 2850.TW Shinkong Insurance Co., Ltd.Open in the cockpit ↗

Shinkong Insurance Co., Ltd.2850.TWCompetitor analysis, valuation and peers

Taiwan · TWD·Financials›Property/Casualty Insurance

Taiwanese property and casualty insurer, part of the Shin Kong conglomerate spanning life insurance, textiles and hospitality.

≈ A small Taiwanese Travelers/ProgressiveMomentum leader 85
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$1.51B
US dollars, full cap
Free float
64%
of shares outstanding
$/day
$1.30M
20-day average traded
P/B
2.27×
price to book
ROE
24.0%
delivered
Implied ROE
6.6%
what the price asks
Close · TWDNT$158.00
1D-3.7%
1W-6.0%
1M-0.9%
3M-0.6%
6M+20.6%
YTD+34.5%
1Y+37.4%
ATR %2.6%
52w lowhigh9.2% off high

What Shinkong Insurance does

Taiwanese property and casualty insurer, part of the Shin Kong conglomerate spanning life insurance, textiles and hospitality.

Collects premiums up front and invests them until claims are paid, so earnings combine underwriting results with investment income. Motor and fire cover are core lines, and business is almost entirely in Taiwan.

In one line: A small Taiwanese Travelers/Progressive.

Products and services

  • Motor insurance
  • Fire/property insurance
  • Marine/cargo insurance
  • Liability insurance

Customers

  • Individual policyholders
  • Corporate/commercial clients

Where it sits in the supply chain

  • Financials
  • Insurance
  • Property & casualty

What could go right

  • Rising vehicle ownership/insurance penetration
  • Group cross-sell with Shin Kong Life

What could go wrong

  • Catastrophe/weather claims
  • Price competition among Taiwan insurers

Moat: narrow (distribution, brand, regulatory licence). Local brand and bancassurance/agent distribution tied to the wider Shin Kong group.

Headquarters: Taipei, Taiwan · Employees: 1,558

Named competitors

Shinkong Insurance at a glance

Size Shinkong Insurance (2850.TW) is a Taiwan Financials company (Property/Casualty Insurance) with a market value of $1.51B, the 200th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$158.00 on 6 Nov 2026.

Performance Over six months the shares gained 20.6%, against +18.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 9th highest of 20 in its peer set.

Growth Revenue grew 21.7% over the last twelve months (peer median +7.3%); the operating margin is 21.1% (peer median 19.0%).

Valuation It trades at 2.27× book value against a peer median of 1.68× (4th most expensive of 21).

Price implies The share price implies a return on equity of about 6.6%; Shinkong Insurance delivers 24.0%, so the price asks less than the business earns today.

Relative performance

10012011 May 202611 Aug 20266 Nov 20262850.TW 121Peer median 119
Six months, rebased to 100: Shinkong Insurance against the median of its 20 peers (local-currency closes).

Shinkong Insurance financials

Reported figures in TWD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueNT$25.3BNT$20.8BNT$20.1BNT$19.5BNT$18.2B
Revenue growth—+4%+3%+7%—
Net incomeNT$4.86BNT$3.88BNT$3.31BNT$2.91BNT$2.00B
Free cash flow-NT$8.79BNT$23.2MNT$4.94BNT$1.52BNT$106M
Capital expenditureNT$66.5MNT$106MNT$66.1MNT$76.8MNT$79.5M
Total debtNT$316MNT$101MNT$120MNT$115MNT$139M

Quarterly statements and history in the cockpit →

Shinkong Insurance competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

0%+20%+40%+60%+80%0%+20%SAFTUVEUFCSKMPRASICHMNLREPRCH001450HCIHRTGHIPO7164EIGNMIHSPNT000400PLMR2850.TW6-month return →1-month return →
Up and to the right = strong over both horizons. Shinkong Insurance is the large dot.

Fundamentals: return on equity against price-to-book

-25%0%25%50%75%00×250×500×750×SAFTUVEUFCSKMPRLREHCIOIGEIG0004002850.TWReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Shinkong Insurance is the large dot.

Capital: ROE delivered against the ROE the price implies

-20%0%20%40%-20%0%20%40%SAFTUVEUFCSKMPRASICLRE001450HCIHRTGHIPO7164EIGSPNT000400PLMR2850.TWROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. Shinkong Insurance is the large dot.

Shinkong Insurance competitors and peer comparison

Head to head with its named competitors (2850.TW vs 2881.TW vs 2882.TW vs 2851.TW)
CompanyMarket cap6M returnRevenue growthROEPrice / bookImplied ROE
Shinkong Insurance 2850.TW$1.51B+21%+22%24%2.27×6.6%
Fubon Financial Hldg 2881.TW$62.7B+66%+12%16%1.66×7.4%
Cathay Financial Hldg 2882.TW$47.0B+42%-16%15%1.40×7.0%
Central Reinsurance 2851.TW$1.12B+52%+21%37%1.41×5.1%

How Shinkong Insurance compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Shinkong Insurance against its 20 peers (data as of 6 Nov 2026)
Measure2850.TWPeer medianRank in peer set
1-month return-0.9%+0.2%8th lowest of 21
6-month return+20.6%+18.5%9th highest of 20
Return on equity24.0%15.4%5th highest of 20
Price / book2.27×1.68×4th most expensive of 21
Trailing P/E10.3×11.9×9th cheapest of 19
ROE the price implies6.6%9.4%4th least demanding of 20
ROE delivered24.0%15.4%4th highest of 18

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
Shinkong Insurance 2850.TWTaiwan$1.51B+21%+22%24%2.27×6.6%24.0%
Safety Insurance SAFTUnited States$1.53B+46%+7%8%1.75×8.9%7.8%
Universal Insurance UVEUnited States$1.29B+19%+6%41%2.00×13.1%40.8%
United Fire UFCSUnited States$1.23B-1%+11%15%1.31×9.0%14.9%
Kemper KMPRUnited States$1.97B+10%-4%-19%0.90×9.4%-19.3%
Ategrity Specialty Insurance ASICUnited States$1.16B+23%+30%16%1.89×9.3%15.8%
Horace Mann Educators HMNUnited States$2.16B+20%+4%12%1.46×7.9%n/a
Lancashire LRE.LUnited Kingdom$2.24B+18%-2%22%1.49×12.7%21.8%
Porch PRCHUnited States$2.26B+80%+20%n/a345.11×5,821.2%n/a
Hyundai M&F INS 001450.KSSouth Korea$2.29B+38%-5%21%0.51×4.2%21.0%
HCI HCIUnited States$2.31B+22%+23%34%2.15×17.3%33.8%
Heritage Insurance HRTGUnited States$984M+48%+2%42%1.64×14.1%41.7%
Hippo HIPOUnited States$929M+28%+21%7%1.98×22.6%7.2%
Orion180 Insurance OIGUnited States$888Mn/a+38%77%73.37×n/an/a
Zenkoku Hosho 7164.TJapan$2.69B+1%+2%14%1.74×6.2%14.1%
Employers EIGUnited States$830M+13%-13%3%1.06×7.7%3.0%
NMI NMIHUnited States$2.94B0%+8%15%1.10×7.9%15.4%
SiriusPoint SPNTUnited States$3.06B+12%+23%23%1.34×9.5%23.1%
Lotte Non-Life Insurance 000400.KSSouth Korea$569M+18%+19%-2%0.82×5.1%-2.1%
Sabre Insurance SBRE.LUnited Kingdom$565M+17%-10%15%1.72×9.5%15.0%
Palomar PLMRUnited States$4.10B+37%+60%22%4.16×17.0%22.2%

Questions

Who are Shinkong Insurance's main competitors?
Named competitors: Fubon Insurance (2881.TW), Cathay Century Insurance (2882.TW), MSIG Mingtai Insurance (2851.TW). The cockpit's measured peer set (industry) also includes Safety Insurance (SAFT), Universal Insurance (UVE), United Fire (UFCS), Kemper (KMPR), Ategrity Specialty Insurance (ASIC), Horace Mann Educators (HMN).
Is Shinkong Insurance expensive compared with its peers?
On price / book it trades at 2.27× against a peer median of 1.68×, 4th most expensive of 21 in its peer set. The share price implies a return on equity of about 6.6%; Shinkong Insurance delivers 24.0%, so the price asks less than the business earns today.
How has Shinkong Insurance stock performed?
Over six months to 6 Nov 2026 the shares returned +20.6% against +18.5% for the median peer; over one year +37.4%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.