DSE : UNITEDINS
United Insurance Company Limited — Financial statements
Insurance Carriers · Bangladesh
Last price 55 BDT (At close: Oct 29, 2026) · Market cap 2.45B
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 493.45M | 438.21M | 296.03M | 298.72M | 280.65M | 249.47M |
| Total Interest & Dividend Income | 122.49M | 139.78M | 102.97M | 75.45M | 76.36M | 72.96M |
| Gain (Loss) on Sale of Investments | 799.63K | -819.37K | 1.00M | 951.57K | -199.33M | 136.64M |
| Other Revenue | 62.92M | 62.92M | 71.26M | 81.14M | 89.43M | 74.62M |
| Total Revenue | 679.66M | 640.09M | 471.26M | 456.26M | 247.10M | 533.69M |
| Policy Benefits | 167.07M | 110.97M | 68.31M | 90.16M | 76.61M | 52.88M |
| Policy Acquisition & Underwriting Costs | 39.34M | 94.81M | 50.89M | 60.05M | 55.01M | 26.76M |
| Depreciation & Amortization | 17.10M | 17.10M | 17.11M | 16.81M | 16.54M | 16.33M |
| Selling, General & Administrative | 186.36M | 177.36M | 165.37M | 163.20M | 175.67M | 191.56M |
| Other Operating Expenses | -95.94K | -95.94K | -127.88K | -484.26K | -469.36K | -1.17M |
| Total Operating Expenses | 409.78M | 400.15M | 301.54M | 329.74M | 323.36M | 286.35M |
| Operating Income | 269.88M | 239.94M | 169.73M | 126.52M | -76.26M | 247.34M |
| Other Non Operating Income (Expenses) | -1.22M | -1.22M | -1.07M | -1.06M | -954.60K | -1.05M |
| EBT Excluding Unusual Items | 268.66M | 238.72M | 168.66M | 125.46M | -77.22M | 246.28M |
| Gain (Loss) on Sale of Assets | 29.21K | 29.21K | -14.56K | 38.00K | 525.16K | 13.56K |
| Pretax Income | 268.69M | 238.75M | 168.64M | 125.49M | -76.69M | 246.30M |
| Income Tax Expense | 98.35M | 84.96M | 71.91M | 50.43M | 46.72M | 46.65M |
| Net Income | 170.34M | 153.79M | 96.73M | 75.06M | -123.41M | 199.64M |
| Net Income to Common | 170.34M | 153.79M | 96.73M | 75.06M | -123.41M | 199.64M |
| Shares Outstanding (Basic) | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M |
| Shares Outstanding (Diluted) | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M |
| EPS (Basic) | 3.83 | 3.46 | 2.17 | 1.69 | -2.77 | 4.49 |
| EPS (Diluted) | 3.83 | 3.46 | 2.17 | 1.69 | -2.77 | 4.49 |
| Free Cash Flow | 147.06M | 94.86M | 38.27M | 19.73M | 18.79M | 107.15M |
| Free Cash Flow Per Share | 3.31 | 2.13 | 0.86 | 0.44 | 0.42 | 2.41 |
| Dividend Per Share | 1.50 | 1.50 | 1.50 | 1.00 | 1.00 | 1.00 |
| Operating Margin | 39.71% | 37.49% | 36.02% | 27.73% | -30.86% | 46.34% |
| Profit Margin | 25.06% | 24.03% | 20.52% | 16.45% | -49.94% | 37.41% |
| Free Cash Flow Margin | 21.64% | 14.82% | 8.12% | 4.32% | 7.61% | 20.08% |
| EBITDA | 277.33M | 246.22M | 186.84M | 143.33M | -59.72M | 263.66M |
| EBITDA Margin | 40.80% | 38.47% | 39.65% | 31.41% | -24.17% | 49.40% |
| D&A For EBITDA | 7.45M | 6.28M | 17.11M | 16.81M | 16.54M | 16.33M |
| EBIT | 269.88M | 239.94M | 169.73M | 126.52M | -76.26M | 247.34M |
| EBIT Margin | 39.71% | 37.49% | 36.02% | 27.73% | -30.86% | 46.34% |
| Effective Tax Rate | 36.60% | 35.59% | 42.64% | 40.19% | 18.94% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 625.40M | 66.52M | ||||
| Investments in Equity & Preferred Securities | 757.63M | 79.99M | ||||
| Other Investments | 511.50M | 261.50M | 359.00M | 548.20M | 516.38M | 464.36M |
| Total Investments | 1.89B | 861.69M | 885.02M | 1.17B | 1.14B | 1.28B |
| Cash & Equivalents | 156.59M | 145.49M | 188.80M | 238.61M | 284.36M | 337.60M |
| Reinsurance Recoverable | 159.83M | 162.53M | 179.95M | 163.65M | 194.13M | |
| Other Receivables | 361.66M | 178.41M | 122.41M | 115.27M | 137.42M | 19.95M |
| Property, Plant & Equipment | 178.62M | 123.92M | 138.78M | 149.36M | 163.67M | 170.26M |
| Other Intangible Assets | 1.00M | 1.60M | 2.21M | 1.77M | ||
| Other Current Assets | 866.00K | 12.19M | 9.31M | 7.29M | 9.18M | 13.63M |
| Other Long-Term Assets | 723.92M | 560.40M | 215.39M | 150.80M | 100.93M | |
| Total Assets | 2.59B | 2.21B | 2.07B | 2.08B | 2.05B | 2.12B |
| Accrued Expenses | 22.85M | 11.19M | 9.65M | 11.76M | 14.32M | |
| Insurance & Annuity Liabilities | 203.62M | 192.98M | 210.14M | 127.55M | 72.51M | |
| Unpaid Claims | 16.66M | 20.98M | 33.60M | 24.65M | 32.16M | |
| Unearned Premiums | 328.78M | 245.33M | 219.34M | 222.33M | 192.07M | |
| Current Portion of Leases | 10.34M | 11.97M | 10.17M | 10.21M | 9.80M | |
| Current Income Taxes Payable | 119.66M | 88.06M | 60.09M | 43.92M | 31.89M | |
| Long-Term Leases | 2.25M | 11.93M | 19.32M | 29.19M | 35.05M | |
| Long-Term Deferred Tax Liabilities | 13.13M | 16.58M | 12.66M | 8.57M | 4.02M | |
| Other Current Liabilities | 971.09M | 931.66K | 1.10M | 1.71M | 1.60M | 1.39M |
| Other Long-Term Liabilities | 1.00K | 106.68M | 104.67M | 102.00M | 109.11M | 92.05M |
| Total Liabilities | 971.09M | 825.35M | 707.74M | 682.49M | 596.11M | 498.58M |
| Common Stock | 445.00M | 445.00M | 445.00M | 445.00M | 445.00M | 445.00M |
| Retained Earnings | 1.18B | 936.09M | 916.12M | 952.98M | 1.01B | 1.18B |
| Shareholders' Equity | 1.62B | 1.38B | 1.36B | 1.40B | 1.45B | 1.62B |
| Total Liabilities & Equity | 2.59B | 2.21B | 2.07B | 2.08B | 2.05B | 2.12B |
| Filing Date Shares Outstanding | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M |
| Total Common Shares Outstanding | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M | 44.50M |
| Total Debt | 12.59M | 23.90M | 29.49M | 39.41M | 44.85M | |
| Net Cash (Debt) | 156.59M | 132.90M | 164.90M | 209.11M | 244.95M | 292.75M |
| Net Cash Per Share | 3.52 | 2.99 | 3.71 | 4.70 | 5.50 | 6.58 |
| Book Value Per Share | 36.43 | 31.04 | 30.59 | 31.42 | 32.68 | 36.45 |
| Tangible Book Value | 1.62B | 1.38B | 1.36B | 1.40B | 1.45B | 1.62B |
| Tangible Book Value Per Share | 36.43 | 31.01 | 30.55 | 31.37 | 32.64 | 36.45 |
| Land | 31.25M | 31.25M | 31.25M | 31.25M | 31.25M | |
| Buildings | 99.25M | 99.25M | 99.25M | 99.25M | 99.25M | |
| Machinery | 54.28M | 54.01M | 45.64M | 44.48M | 39.33M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 170.34M | 153.79M | 96.73M | 75.06M | -123.41M | 199.64M |
| Depreciation & Amortization | 17.67M | 16.50M | 17.11M | 16.81M | 16.54M | 16.33M |
| Other Amortization | 602.09K | 602.09K | ||||
| Gain (Loss) on Sale of Assets | -292.26K | -29.21K | 14.56K | -38.00K | -525.16K | -13.56K |
| Gain (Loss) on Sale of Investments | -799.37K | 819.37K | -1.00M | -951.57K | 2.62M | -10.45M |
| Change in Other Net Operating Assets | 146.50M | 64.60M | 30.42M | 3.15M | 10.37M | 104.60M |
| Other Operating Activities | -118.45M | -139.78M | -99.06M | -71.37M | 124.91M | -199.15M |
| Operating Cash Flow | 215.57M | 96.50M | 44.20M | 22.67M | 30.51M | 110.95M |
| Capital Expenditures | -68.51M | -1.64M | -5.94M | -2.94M | -11.71M | -3.81M |
| Sale of Property, Plant & Equipment | 292.21K | 29.21K | 38.00K | 525.16K | 13.56K | |
| Investment in Securities | -206.07M | -211.51M | -145.71M | -96.57M | -104.62M | -7.29M |
| Other Investing Activities | 118.45M | 140.22M | 102.75M | 75.44M | 76.35M | 73.00M |
| Investing Cash Flow | -155.83M | -72.90M | -48.90M | -24.03M | -39.46M | 61.91M |
| Common Dividends Paid | -66.61M | -66.91M | -45.11M | -44.40M | -44.29M | -58.59M |
| Financing Cash Flow | -66.61M | -66.91M | -45.11M | -44.40M | -44.29M | -58.59M |
| Miscellaneous Cash Flow Adjustments | 1.00K | -1.00 | -1.00 | 1.00 | ||
| Net Cash Flow | -6.87M | -43.31M | -49.81M | -45.75M | -53.24M | 114.27M |
| Free Cash Flow | 147.06M | 94.86M | 38.27M | 19.73M | 18.79M | 107.15M |
| Free Cash Flow Margin | 21.64% | 14.82% | 8.12% | 4.32% | 7.61% | 20.08% |
| Free Cash Flow Per Share | 3.31 | 2.13 | 0.86 | 0.44 | 0.42 | 2.41 |
| Levered Free Cash Flow | 283.08M | 303.82M | 265.96M | 119.59M | 103.80M | 95.83M |
| Unlevered Free Cash Flow | 283.08M | 303.82M | 265.96M | 119.59M | 103.80M | 95.83M |
| Cash Income Tax Paid | 64.14M | 53.36M | 40.02M | 30.18M | 30.13M | 37.77M |
| Change in Working Capital | 146.50M | 64.60M | 30.42M | 3.15M | 10.37M | 104.60M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.45B | 1.80B | 1.62B | 1.99B | 2.03B | 2.92B |
| Enterprise Value | 2.29B | 1.64B | 1.42B | 1.78B | 1.77B | 2.69B |
| PE Ratio | 14.37 | 11.72 | 16.79 | 26.56 | 14.64 | |
| PS Ratio | 3.60 | 2.82 | 3.45 | 4.37 | 8.23 | 5.48 |
| PB Ratio | 1.51 | 1.30 | 1.19 | 1.43 | 1.40 | 1.80 |
| P/FCF Ratio | 16.64 | 19.00 | 42.45 | 101.04 | 108.21 | 27.29 |
| P/OCF Ratio | 11.35 | 18.68 | 36.74 | 87.94 | 66.66 | 26.35 |
| EV/Sales Ratio | 3.37 | 2.56 | 3.00 | 3.90 | 7.17 | 5.03 |
| EV/EBITDA Ratio | 7.97 | 6.66 | 7.58 | 12.41 | 10.18 | |
| EV/EBIT Ratio | 8.49 | 6.83 | 8.34 | 14.06 | 10.86 | |
| EV/FCF Ratio | 15.58 | 17.27 | 37.01 | 90.13 | 94.34 | 25.06 |
| Debt / Equity Ratio | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 | |
| Debt / EBITDA Ratio | 0.05 | 0.13 | 0.21 | 0.17 | ||
| Debt / FCF Ratio | 0.13 | 0.62 | 1.50 | 2.10 | 0.42 | |
| Net Debt / Equity Ratio | -0.10 | -0.10 | -0.12 | -0.15 | -0.17 | -0.18 |
| Net Debt / EBITDA Ratio | -0.56 | -0.54 | -0.88 | -1.46 | 4.10 | -1.11 |
| Net Debt / FCF Ratio | -1.06 | -1.40 | -4.31 | -10.60 | -13.03 | -2.73 |
| Quick Ratio | 0.53 | 1.51 | 2.15 | 2.85 | 3.27 | 4.14 |
| Current Ratio | 0.54 | 1.90 | 2.67 | 3.48 | 3.87 | 4.92 |
| Asset Turnover | 0.28 | 0.30 | 0.23 | 0.22 | 0.12 | 0.26 |
| Return on Equity (ROE) | 11.25% | 11.22% | 7.01% | 5.26% | -8.02% | 12.91% |
| Return on Assets (ROA) | 7.04% | 7.02% | 5.11% | 3.83% | -2.28% | 7.65% |
| Return on Invested Capital (ROIC) | 10.80% | 11.12% | 6.92% | 5.18% | -4.83% | 12.57% |
| Earnings Yield | 6.96% | 8.53% | 5.96% | 3.77% | -6.07% | 6.83% |
| FCF Yield | 6.01% | 5.26% | 2.36% | 0.99% | 0.92% | 3.67% |
| Dividend Yield | 2.73% | 3.70% | 4.11% | 2.23% | 2.19% | 1.52% |
| Payout Ratio | 39.10% | 43.51% | 46.64% | 59.15% | 29.35% | |
| Total Shareholder Return | 2.73% | 3.70% | 4.11% | 2.23% | 2.19% | 1.52% |