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UNITED OVERSEAS INSURANCE LTD (U13) Fair Value & Analysis

Financial Services · SG · Market cap 512M SGD

UO UNITED OVERSEAS INSURANCE LTD U13 · SG
Price8.75 SGD
Fair Value7.85 SGD
Upside-10.3%
Quality75/100
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Weak Growth
Highly profitable · 22.6% net margin
generates free cash flow
2.14% dividend yield
Mixed vs. peers (6/14)
Wide moat 65/100
Evidence: High Range 5.89 SGD – 9.81 SGD Share as image

Fair value as of: Aug 16, 2026

From 4 valuation models · updated 2 days ago

Fair value updated Aug 16, 2026, revised from 6.87 SGD to 7.85 SGD (+14.3%) since Aug 9, 2026. Share price +1.7% over the past month.

A strong business, but screening 10% overvalued on our models.

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from 5.89 SGD (bear) to 9.81 SGD (bull), base 7.85 SGD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 75/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

8.81 SGD 5.38 SGD Fair Value 7.85 SGD May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.

How to read this chart

60‑month range 5.38 SGD – 8.81 SGD · fair‑value band 5.89 SGD – 9.81 SGD · the 8.75 SGD price screens above the 7.85 SGD fair value. Dashed = 300-day average. As of Aug 16, 2026.

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Analysis

UNITED OVERSEAS INSURANCE LTD (U13) currently trades at 8.75 SGD, while our model-based Fair Value estimate is 7.85 SGD, implying the stock looks roughly 10.3% overvalued today. The Quality Score stands at 75/100 (high quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, UNITED OVERSEAS INSURANCE LTD generated revenue of 143M SGD at a net margin of 22.6%. Revenue grew 1.4% year over year. It earns a return on equity of 6.5%. The stock trades on a trailing P/E of 16.5. Fundamentals as of Aug 16, 2026

Our scenario range runs from 5.89 SGD (bear case) to 9.81 SGD (bull case); at 8.75 SGD, the current price sits within 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 near its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 2% fair-value upside, at -10%, U13 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income 6.37 SGD 6.43 SGD 6.11 SGD 76
P/E Multiple 5.15 SGD 6.87 SGD 8.58 SGD 63
P/B Multiple 6.73 SGD 8.98 SGD 11.22 SGD 55
All 4 models by family
Multiples
P/E Multiple 5.15 SGD 6.87 SGD 8.58 SGD 63
P/B Multiple 6.73 SGD 8.98 SGD 11.22 SGD 55
Asset-Based
NCAV (Graham) 4.28 SGD 5.73 SGD 8.55 SGD 50
Economic Profit
Residual Income 6.37 SGD 6.43 SGD 6.11 SGD 76

Widest divergence: Multiples (6.87 SGD) versus Asset-Based (5.73 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 143M SGD
Revenue growth (YoY) +1.4%
Net margin 22.6%
Return on equity 6.5%
Free cash flow 15.4M SGD FY2025
P/E ratio 16.5
More key figures
Operating margin 29.7%
EPS (TTM) 0.5300 SGD
Dividend yield 2.1%
EPS growth (YoY) +51.5%

Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 71 · Market factors (momentum, volatility) 72

Profitability 38
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

United Overseas Insurance Limited engages in the underwriting general insurance business in Singapore, ASEAN countries, and internationally. The company offers personal insurance products, including travel, motor, accident, and home insurance products; and business property insurance.

Full company description

United Overseas Insurance Limited engages in the underwriting general insurance business in Singapore, ASEAN countries, and internationally. The company offers personal insurance products, including travel, motor, accident, and home insurance products; and business property insurance. It also provides general insurance for business assets, such as fire, all risks, business interruption, machinery and equipment all risk, burglary/theft, money, marine cargo, fidelity guarantee, plate glass, and public liability insurance products; employees benefit comprising work injury compensation, group personal accident, and group business/corporate travel insurance products; and package insurance for small and medium sized enterprise. In addition, the company offers directors' and officers', contractors' all risks/erection all risks, and professional indemnity insurance products. The company was incorporated in 1971 and is based in Singapore. United Overseas Insurance Limited is a subsidiary of United Overseas Bank Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

UNITED OVERSEAS INSURANCE LTD reported revenue of 13.6M SGD in FY2025 versus 119M SGD in FY2021, a compound −41.9%/yr. Reported net income was 32.3M SGD in FY2025, compounding −21.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
13.6M SGD
Latest YoY
+80.8%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−42.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−34.2%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−11.8%
Revenue −41.9%/yr
FY21 119M SGD
FY22 70.3M SGD
FY23 5.5M SGD
FY24 7.5M SGD
FY25 13.6M SGD
Net income −21.0%/yr
FY21 83.1M SGD
FY22 16.7M SGD
FY23 29.3M SGD
FY24 29.8M SGD
FY25 32.3M SGD

U13 screens 10% overvalued. Compare with The Progressive Corporation →

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Cite: Fair Value Calculator (2026). "UNITED OVERSEAS INSURANCE LTD Fair Value". https://www.fairvalue-calculator.com/stock/U13

Peer Group

Insurance - Property & Casualty · 118 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.

Quality Score 74 · Top 25%
Fair Value upside −10% · Below median
Return on equity (TTM) 7% · Bottom 25%
Return on assets 4% · Above median
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 30% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 2.1% · Below median

Valuation Multiples vs Insurance - Property & Casualty median · lower = cheaper

P/E (TTM) 16.5× · Pricier than 75% of peers
P/B 0.77× · Cheaper than 75% of peers
P/S (TTM) 2.81× · Pricier than 75% of peers
P/FCF 26.0× · Pricier than 75% of peers
EV/EBITDA 8.2× · Pricier than median
PEG 0.96× · Cheaper than median

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.

VALUE 20 · sector 25
FUTURE 7 · sector 34
PAST 26 · sector 56
HEALTH 0 · sector 92
DIVIDEND 43 · sector 55

Values & ESG

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

None of the checked exposures detected

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 - Property & Casualty stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).

Stock Price Fair Value vs Fair Value
The Progressive Corporation PGR $207.37 $160.25 -23%
Chubb Limited CB $343.33 $234.73 -32%
The Travelers Companies, Inc TRV $370.16 $274.42 -26%
The Allstate Corporation ALL $255.84 $316.11 +24%
The People's Insurance Company 601319 ¥6.98 ¥11.61 +66%
PICC Property and Casualty Company 2328 HK$15.52 HK$22.28 +44%
Intact Financial Corporation IFC C$274.14 C$167.46 -39%
Fairfax Financial Holdings FFH C$2,293 C$2,291 -0%
Samsung Fire & Marine Insurance Co 000810 628,000 KRW 698,407 KRW +11%
Powszechny Zaklad Ubezpieczen SA PZU 72.14 PLN 73.80 PLN +2%

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Frequently asked questions

Is UNITED OVERSEAS INSURANCE LTD (U13) overvalued or undervalued?
As of Aug 16, 2026, our model estimates a fair value of 7.85 SGD versus a price of 8.75 SGD, about −10% (overvalued).
What is the fair value of U13?
Our model-based fair value for UNITED OVERSEAS INSURANCE LTD is 7.85 SGD (as of Aug 16, 2026), built from audited fundamentals. The current price is 8.75 SGD.
What is the quality score of U13?
UNITED OVERSEAS INSURANCE LTD has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of UNITED OVERSEAS INSURANCE LTD (U13)?
UNITED OVERSEAS INSURANCE LTD reported trailing-twelve-month revenue of about 143M SGD (latest available figure, as of Aug 16, 2026).
What is the net profit margin of U13?
The net profit margin of UNITED OVERSEAS INSURANCE LTD is about 22.6%, meaning it keeps roughly 22.6% of revenue as net income. Based on the latest reported figures.
Does UNITED OVERSEAS INSURANCE LTD pay a dividend?
UNITED OVERSEAS INSURANCE LTD currently shows a dividend yield of about 2.14% relative to its recent price (as of Aug 16, 2026).

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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