Central Reinsurance Corporation (2851) AI Stock Analysis

Central Reinsurance Corporation

(TWSE:2851)

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Rating:81Outperform

Price Target:TWD 54.00▲(16.76% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by strong financial performance and attractive valuation, including minimal debt, improving profitability, and a high dividend yield. Mixed technical momentum and recent cash-flow volatility limit the upside assessment.

Positive Factors

Conservative LeverageAn exceptionally conservative capital structure materially reduces financial risk and interest-related pressure. Strong capitalization gives Central Reinsurance greater resilience through adverse underwriting or investment periods, while preserving flexibility to support operations and absorb losses over the next several quarters.

Negative Factors

Volatile Cash GenerationThe sharp swings in free cash flow show that reported profitability does not consistently translate into cash generation from year to year. This instability can complicate capital planning, dividend decisions, and reinvestment, even though the strong 2025 rebound provides evidence of recovery.

Central Reinsurance Corporation (2851) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 36.62B
Dividend Yield: 4.76%
Average Volume (3M): 3.48M
Price to Earnings (P/E): 4.4
Beta (1Y): 0.31
Revenue Growth: 21.22%
EPS Growth: 481.08%
Country: TW
Employees: 177
Sector: General
Sector Strength: 55
Industry: Insurance - Reinsurance

Central Reinsurance Corporation Business Overview & Revenue Model

Company Description

Central Reinsurance Corporation operates both domestically in Taiwan and across international markets, providing a comprehensive suite of life and non-life insurance solutions. Its non-life offerings encompass protection against fire, marine and avia...

Central Reinsurance Corporation Financial Statement Overview

Summary

Strong financial profile, led by a very strong balance sheet, improved profitability, and recovering free cash flow. Historical cash-flow volatility and modest revenue growth temper the score.

Income Statement

86Very Positive

Balance Sheet

94Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	25.85B	22.90B	22.89B	21.98B	21.34B	20.44B
Gross Profit	17.88B	16.93B	17.12B	16.18B	16.12B	14.85B
EBITDA	9.77B	3.43B	2.99B	2.52B	45.05M	2.48B
Net Income	8.45B	2.93B	2.52B	2.09B	253.27M	2.07B
Balance Sheet
Total Assets	65.43B	59.84B	57.85B	53.90B	50.27B	49.46B
Cash, Cash Equivalents and Short-Term Investments	20.11B	12.49B	11.70B	14.49B	21.85B	17.29B
Total Debt	279.00K	463.00K	824.00K	1.29M	1.82M	1.35M
Total Liabilities	39.12B	38.13B	36.95B	34.84B	33.27B	32.91B
Stockholders Equity	26.30B	21.71B	20.90B	19.05B	17.00B	16.55B
Cash Flow
Free Cash Flow	12.71B	2.32B	-1.75B	-7.37B	2.09B	3.16B
Operating Cash Flow	12.73B	2.36B	-1.73B	-7.33B	2.12B	3.17B
Investing Cash Flow	2.30M	-1.39M	-19.46M	-33.83M	-33.64M	-15.40M
Financing Cash Flow	-1.52B	-1.52B	-1.12B	-536.00K	2.25B	-767.91M

Central Reinsurance Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2851 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2851	81Outperform	TWD 35.94B	4.42	―	4.76%	21.22%	481.08%
TW:2850	73Outperform	TWD 48.82B	10.12	―	4.65%	21.66%	45.77%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:2851 and its peers over the selected period
Show on chart	Ticker	Company Name	Price	Change	% Change
	TW:2851	Central Reinsurance Corporation	46.25	21.60	87.64%
	TW:2850	Shinkong Insurance Co., Ltd.	156.50	44.77	40.07%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 10, 2026

Central Reinsurance Corporation AI Stock Analysis