Central Reinsurance Corporation (2851) Fair Value & Analysis
Financial Services · TW · Market cap 28.8B TWD
Fair value as of: Jul 21, 2026
From 6 valuation models · updated 20 days ago
Share price −7.6% over the past month.
A solid business, screening 34% undervalued on our models.
What matters now
- Solid quality (56/100) 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 21, 2026.
How to read this chart
60‑month range 16.90 TWD – 40.55 TWD · fair‑value band 35.72 TWD – 59.54 TWD · the 35.45 TWD price screens below the 47.63 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Central Reinsurance Corporation (2851) currently trades at 35.45 TWD, while our model-based Fair Value estimate is 47.63 TWD, implying the stock looks roughly 34.4% undervalued today. The Quality Score stands at 56/100 (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, Central Reinsurance Corporation generated revenue of 25.5B TWD at a net margin of 18.9%. Revenue grew 58.3% year over year. It earns a return on equity of 21.7%. The balance sheet holds a net cash position of 12.5B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 35.72 TWD (bear case) to 59.54 TWD (bull case); at 35.45 TWD, 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 5% below its 52-week high and 62% 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 34%, 2851 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.
All 6 models by family
Widest divergence: Multiples (37.97 TWD) versus Asset-Based (18.17 TWD). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 84
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Central Reinsurance Corporation provides various property and life inward and outward reinsurance services in Taiwan and internationally. It offers non-life insurance products, such as fire, marine and aviation, casualty, motor, engineering, and residential earthquake insurance products.
Full company description
Central Reinsurance Corporation provides various property and life inward and outward reinsurance services in Taiwan and internationally. It offers non-life insurance products, such as fire, marine and aviation, casualty, motor, engineering, and residential earthquake insurance products. The company also provides life, personal accident, and health insurance products; and risk management solutions. Central Reinsurance Corporation was incorporated in 1968 and is headquartered in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Central Reinsurance Corporation reported revenue of 22.9B TWD in FY2025 versus 20.4B TWD in FY2021, a compound +2.9%/yr. Reported net income was 2.9B TWD in FY2025, compounding +9.2%/yr from FY2021.
Watch 2851: get an alert when its fair value changes →
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.
Insider activity: 45/100
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.
Similar stocks
10 more Insurance - Reinsurance stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| 1MUV2 1MUV2 | €522.60 | €669.36 | +28% |
| Swiss Re AG SREN | CHF 132.60 | CHF 218.88 | +65% |
| Hannover Rück SE HNR1 | €255.00 | €284.58 | +12% |
| Reinsurance Group RGA | $241.79 | $234.55 | -3% |
| Everest Group EG | $364.13 | $522.67 | +44% |
| RenaissanceRe Holdings RNR | $314.99 | $629.98 | +100% |
| SCOR SE SDRC | €33.04 | €66.08 | +100% |
| General Insurance Corporation GICRE | ₹364.85 | ₹715.98 | +96% |
| China Reinsurance (Group) Corporation 1508 | HK$1.37 | HK$2.74 | +100% |
| Hamilton Insurance Group HG | $34.60 | $69.20 | +100% |
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Frequently asked questions
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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.
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