Korean Reinsurance Company (003690) Fair Value & Analysis

Financial Services · KR · Market cap 1.6T KRW

A solid business, screening 84% undervalued on our models.

What matters now

• The price is below even our cautious bear case (20,070 KRW). The market is more pessimistic than our downside scenario.
• Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 3,279 KRW – 14,630 KRW · fair‑value band 20,070 KRW – 33,450 KRW · the 14,530 KRW price screens below the 26,760 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Korean Reinsurance Company (003690) currently trades at 14,530 KRW, while our model-based Fair Value estimate is 26,760 KRW, implying the stock looks roughly 84.2% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Korean Reinsurance Company generated revenue of 4.4T KRW at a net margin of 10.0%. Revenue grew 4.5% year over year. It earns a return on equity of 12.3%. Fundamentals as of Jul 22, 2026

Our scenario range runs from 20,070 KRW (bear case) to 33,450 KRW (bull case); at 14,530 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 56% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 96% fair-value upside, at 84%, 003690 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples (34,116 KRW) versus Dividend Discount (15,003 KRW). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Korean Reinsurance Company, a reinsurance company, provides life and non-life reinsurance products in Korea and internationally.

Full company description

Korean Reinsurance Company, a reinsurance company, provides life and non-life reinsurance products in Korea and internationally. The company offers property insurance products, such as fire, property all risks, inland floater, and museum; engineering insurance products, including contractor's and erection all risks, machinery, electric equipment, civil engineering completed risk, contractor's plant and machinery, and comprehensive machinery; marine insurance products comprising hull, cargo, and aviation; and casualty insurance products, such as general and professional liability, workers compensation, personal accident, guarantee, and other specialty insurance. It also provides life reinsurance, including insurance against death such as term and permanent insurance; health, critical illness, cancer, and care insurance; and other insurance accidents, juvenile, and insurance for people with medical condition. Korean Reinsurance Company was incorporated in 1963 and is based in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Korean Reinsurance Company reported revenue of 4.3T KRW in FY2025 versus 6.7T KRW in FY2021, a compound −10.2%/yr. Reported net income was 322B KRW in FY2025, compounding +20.4%/yr from FY2021.

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Peer Group

Insurance - Reinsurance · 28 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Insurance - Reinsurance median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.