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Taiwan's main domestic reinsurer, providing property and casualty reinsurance to local insurers.
Taiwan's main domestic reinsurer, providing property and casualty reinsurance to local insurers.
Takes a share of the risks that Taiwanese insurers pass on, collecting premiums up front and paying claims later, so it earns an underwriting result plus investment income on the money it holds in between. Typhoon and earthquake exposure can make results uneven.
In one line: A tiny, Taiwan-only Everest Group (reinsurer).
Moat: narrow (regulatory licence, scale). One of very few licensed domestic reinsurers in Taiwan, giving it a natural local-market role.
Headquarters: Taipei, Taiwan
Size Central Reinsurance (2851.TW) is a Taiwan Financials company (Multi-Line Insurance) with a market value of $1.12B, the 246th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$46.45 on 6 Nov 2026.
Performance Over six months the shares gained 52.0%, against -1.0% for the median peer and -3.4% for the Taiwan market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 21.2% over the last twelve months (peer median +11.0%); the operating margin is 35.6% (peer median 9.1%).
Valuation It trades at 1.41× book value against a peer median of 1.05× (10th most expensive of 21).
Price implies The share price implies a return on equity of about 5.1%; Central Reinsurance delivers 37.4%, so the price asks less than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$25.4B | NT$23.1B | NT$22.1B | NT$21.1B | NT$20.2B |
| Revenue growth | — | +5% | +5% | +5% | — |
| Net income | NT$8.45B | NT$2.93B | NT$2.52B | NT$2.09B | NT$253M |
| Free cash flow | NT$10.8B | NT$4.16B | NT$4.26B | NT$3.20B | NT$2.11B |
| Capital expenditure | NT$35.8M | NT$39.5M | NT$18.5M | NT$33.5M | NT$33.2M |
| Total debt | NT$279,000 | NT$463,000 | NT$947,000 | NT$2.21M | NT$3.93M |
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.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Central Reinsurance 2851.TW | $1.12B | +52% | +21% | 37% | 1.41× | 5.1% |
| Swiss Re SREN.SW | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% |
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% |
| Korean Reinsurance 003690.KS | $1.74B | +8% | -2% | 14% | 0.73× | 4.8% |
| China Taiping Insurance 0966.HK | $8.28B | -24% | +19% | 36% | 0.63× | 8.1% |
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.
| Measure | 2851.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.9% | +1.6% | 10th highest of 21 |
| 6-month return | +52.0% | -1.0% | highest of 21 |
| Return on equity | 37.4% | 9.7% | highest of 21 |
| Price / book | 1.41× | 1.05× | 10th most expensive of 21 |
| Trailing P/E | 4.4× | 12.0× | 2nd cheapest of 19 |
| ROE the price implies | 5.1% | 10.2% | 6th least demanding of 20 |
| ROE delivered | 37.4% | 9.7% | highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Central Reinsurance 2851.TW | Taiwan | $1.12B | +52% | +21% | 37% | 1.41× | 5.1% | 37.4% |
| Bowhead Specialty BOW | United States | $1.12B | +26% | +24% | 14% | 2.48× | 11.3% | 13.6% |
| Chesnara CSN.L | United Kingdom | $1.08B | +11% | +192% | 0% | 2.14× | 15.7% | 0.3% |
| Wuestenrot & Wuerttembergische WUW.DE | Germany | $1.39B | -6% | +4% | 3% | 0.25× | 3.6% | 2.7% |
| Linea Directa Aseguradora LDA.MC | Spain | $1.48B | +3% | +10% | 23% | 3.07× | 11.7% | 23.3% |
| Religare Enterprises RELIGARE.NS | India | $845M | +4% | +18% | 3% | 2.67× | 23.7% | n/a |
| Sagicor Financial SFC.TO | Canada | $792M | -14% | -4% | 12% | 0.75× | 4.6% | 11.6% |
| Trupanion TRUP | United States | $1.61B | +49% | +12% | 6% | 3.94× | 35.3% | 6.1% |
| Korean Reinsurance 003690.KS | South Korea | $1.74B | +8% | -2% | 14% | 0.73× | 4.8% | 14.4% |
| Donegal DGICA | United States | $723M | +9% | -3% | 11% | 1.07× | 6.6% | 10.7% |
| Zhongan Online P&C Insurance 6060.HK | Hong Kong | $2.06B | -19% | +16% | 8% | 0.54× | 8.0% | 8.2% |
| Seoul Guarantee Insurance 031210.KS | South Korea | $2.26B | -8% | +14% | 6% | 0.61× | 4.5% | 6.0% |
| NIB NHF.AX | Australia | $2.29B | +4% | +5% | 17% | 2.90× | 13.2% | 16.6% |
| Pelagos Insurance Capital PLGO | United States | $2.29B | +33% | -4% | 18% | 1.03× | 6.5% | 17.6% |
| Asia Financial 0662.HK | Hong Kong | $521M | -6% | +6% | 10% | 0.30× | 3.7% | 10.2% |
| Go Digit General Insurance GODIGIT.NS | India | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% | n/a |
| Vaudoise Assurances VAHN.SW | Switzerland | $2.66B | -8% | +14% | 6% | 0.78× | n/a | 5.9% |
| Skyward Specialty Insurance SKWD | United States | $2.68B | +29% | +38% | 17% | 2.11× | 10.2% | 17.3% |
| New India Assurance NIACL.NS | India | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% | -1.3% |
| Lemonade LMND | United States | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% | -27.0% |
| F&G Annuities & Life FG | United States | $3.06B | -17% | +14% | 9% | 0.66× | 8.4% | 9.2% |