Author Topic: UNIC -- United Insurance Company of Pakistan Limited  (Read 12164 times)

0 Members and 1 Guest are viewing this topic.

Offline Value_Player

  • New Member
  • *
  • Posts: 23
  • Thanks Received: 0
    • View Profile
UNIC -- United Insurance Company of Pakistan Limited
« Reply #-1 on: February 05, 2015, 09:51:44 PM »
Can any one guide me regarding United General Insurance Company of Pakistan. As per financial statements it is sowing excellent earning growth year year and giving lot of bonus shares. Last year it gave 31% bonus. This time 9 month earning is around 4 Rupees and price is at 28. Can some one throw light on this and create a new separate thread.

Pakinvestorsguide

UNIC -- United Insurance Company of Pakistan Limited
« Reply #-1 on: February 05, 2015, 09:51:44 PM »

Offline SBM

  • Master Troll
  • Administrator
  • Senior Member
  • *****
  • Posts: 10797
  • Thanks Received: 100
  • Ouulman :)
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« on: February 06, 2015, 01:05:10 AM »
done.
I hate waking up.

Offline SBM

  • Master Troll
  • Administrator
  • Senior Member
  • *****
  • Posts: 10797
  • Thanks Received: 100
  • Ouulman :)
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #1 on: February 06, 2015, 01:07:45 AM »
from 3rd quarter directors report

"Performance Overview (3rd Quarter)
The United Insurance Company of Pakistan Limited is jubilant to announce that the company is able to achieve
the quarterly goals that the Directors had set at the start of the fiscal year. The following financial data is the
evidence that the company performance been escalated during the period of nine months.
• The increase of 33.23% in the Gross Written Premium is significant that show the true depiction of the
honest and determined efforts of the Company’s management and the dedication and enthusiasm of
the field staff. The Gross Written Premium for the Third quarter boost from Rs. 1,356.016 million in 2013
to Rs. 1,806.638 million in 2014. The Company’s net premium income for the Third quarter stands at Rs.
1,236.172 millions.
• The underwriting results show noteworthy increase of 48.04%. Its use to be Rs. 350.976 million in Sep
2013 that blossom to Rs. 519.590 million in Sep 2014.
• The Company earned Profit before tax has been increased by 97.97% the total figure stand at Rs. 428.988
million in Sep 2014 compare to Rs.216.692 million in Sep 2013. Furthermore Profit after tax also been on
the growing side which is Rs. 380.341 million as against Rs.192.827 million in Sep 2013.
• Earnings per share (basic & diluted) of the Company, for the period increased to Rs. 4.13 per share as
against to Rs. 2.10 per share for the same period in Sep 2013 that’s show the promising sign.
• Cash & Bank deposits show increase of approximately 55.28% as the figure increases from Rs. 249.656
million in Sep 2013 to Rs. 387.662 million in Sep 2014.
• The investments have been escalated to around 59.45%. The investments in third quarter in 2014 rise to
Rs. 657.726 million from Rs. 412.493 million in Sep 2013 including investment in associate and United
Window Takaful Operations.
Future Prospects
Company anticipate Financial Year 2014 as another challenging year The Company will continue to strive and
to focus on its trends in growth of premium and market development and maintain its profitability to high
ethical standard.
Future Activities
The company has followed the product extension strategy by introducing “Takaful” service for its customers
by the name of “Amaan”. Company has been granted with the Window Takaful License from SECP. Takaful
is basically a type of insurance system devised to comply with the Sharia laws, in which money is pooled
and invested. The introduction of “Amaan” would help in increasing the customer base and in increasing the
market development that will eventually help in generating more revenue.
Investment In Associate
Company has purcahsed 34,018,838 Shares of Apna Microfinance Bank Limited (hereafter referred as
associated company) during 3rd Quarter 2014 which represents 30.93% of paid up capital of associated
company. The inclusion of different sector in portfolio of the company will improve market development that
will eventually results in risk reduction."

I hate waking up.

Offline SAM71

  • Senior Member
  • *****
  • Posts: 1159
  • Thanks Received: 10
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #2 on: February 06, 2015, 01:16:12 AM »
I am of the view that UNIC has great potential of a run up in march. I am holding a few thousand and will add more. On P/E basis it is one of the cheapest insurance stock with a track record of bonuses/dividends. Only source of concern is its investment in Apna Micro finance bank which in my opinion may not be a remunerative investment. Because of low free float, once there is price run up, it will catch up fast without giving opportunity to those trying to get hold of it. Should touch 40 by early april unless there is some negative earnings surprise in 4 Q.

Offline Value_Player

  • New Member
  • *
  • Posts: 23
  • Thanks Received: 0
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #3 on: February 06, 2015, 01:32:12 AM »
Thanks SBM bhai. I have few thousand shares however was thinking to offload some. But due to  strong earning performance I am still undecisive.

Offline SBM

  • Master Troll
  • Administrator
  • Senior Member
  • *****
  • Posts: 10797
  • Thanks Received: 100
  • Ouulman :)
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #4 on: February 06, 2015, 02:33:06 AM »
gross premium CAGR 2008-2013  20.21%
Net premium  20.8%
management expense 30.5%
Net profit 28.9%
net claims  net premium  somewhat stable around 30% mark ..

Looks like a fast growing, reasonably well run company, with some question marks over the pace of management expenses growth & investment in associate apna microfinance bank

@v_p you can target 45 with a good q4


I hate waking up.

Offline SBM

  • Master Troll
  • Administrator
  • Senior Member
  • *****
  • Posts: 10797
  • Thanks Received: 100
  • Ouulman :)
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #5 on: February 06, 2015, 03:22:14 AM »
one thing is bother me though and its massive increase of some current assets
 

Amounts due from other insurers/reinsurers
sept 2014  575 million - dec 2012 32 million

Reinsurance recoveries against outstanding claims
sept 2014  832 million   - dec 2012  113 million


anyone w/ experience of insurance companies can help i guess

 :skeptic:
I hate waking up.

Offline SBM

  • Master Troll
  • Administrator
  • Senior Member
  • *****
  • Posts: 10797
  • Thanks Received: 100
  • Ouulman :)
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #6 on: February 26, 2015, 10:30:46 AM »
Can any one guide me regarding United General Insurance Company of Pakistan. As per financial statements it is sowing excellent earning growth year year and giving lot of bonus shares. Last year it gave 31% bonus. This time 9 month earning is around 4 Rupees and price is at 28. Can some one throw light on this and create a new separate thread.

I am of the view that UNIC has great potential of a run up in march. I am holding a few thousand and will add more. On P/E basis it is one of the cheapest insurance stock with a track record of bonuses/dividends. Only source of concern is its investment in Apna Micro finance bank which in my opinion may not be a remunerative investment. Because of low free float, once there is price run up, it will catch up fast without giving opportunity to those trying to get hold of it. Should touch 40 by early april unless there is some negative earnings surprise in 4 Q.

 :thanks:
I hate waking up.

Offline jay

  • Junior Member
  • **
  • Posts: 307
  • Thanks Received: 1
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #7 on: February 26, 2015, 04:41:12 PM »
friends, still looking attractive at this rates or wait for dip.

Offline SAM71

  • Senior Member
  • *****
  • Posts: 1159
  • Thanks Received: 10
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #8 on: March 13, 2015, 11:22:39 PM »
I am of the view that UNIC has great potential of a run up in march. I am holding a few thousand and will add more. On P/E basis it is one of the cheapest insurance stock with a track record of bonuses/dividends. Only source of concern is its investment in Apna Micro finance bank which in my opinion may not be a remunerative investment. Because of low free float, once there is price run up, it will catch up fast without giving opportunity to those trying to get hold of it. Should touch 40 by early april unless there is some negative earnings surprise in 4 Q.

 :good 

Offline Value_Player

  • New Member
  • *
  • Posts: 23
  • Thanks Received: 0
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #9 on: March 14, 2015, 04:20:48 PM »
Thanks God, I did not sell my shares. Whats shall be the target for sell or shall I wait for result. What are the expectations.

Offline Sharoze123

  • Research
  • Junior Member
  • *****
  • Posts: 332
  • Thanks Received: 12
  • T-bone
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #10 on: March 14, 2015, 07:02:07 PM »
Thanks God, I did not sell my shares. Whats shall be the target for sell or shall I wait for result. What are the expectations.

Depends on whether they announce a stock dividend this year or not. IGIIL, EFUG didn't this year and the stocks took a beating, but UNIC could take even more of a beating since unlike them a boosted cash dividend isn't likely.
The column of truth has holes in it.

Client asks "So, what's two plus two?". Replies the cooperative accountant" Well, what number did you have in mind?"

ISL-SHEL-HUMNL-DSL-GHNL-SEARLE-CHCC-HCAR-ASL

Offline jay

  • Junior Member
  • **
  • Posts: 307
  • Thanks Received: 1
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #11 on: March 17, 2015, 03:37:02 PM »
any idea on announcement.

Offline jay

  • Junior Member
  • **
  • Posts: 307
  • Thanks Received: 1
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #12 on: March 18, 2015, 03:09:49 PM »
tmw is announcement, pls comments wt is expectations

Offline SAM71

  • Senior Member
  • *****
  • Posts: 1159
  • Thanks Received: 10
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #13 on: March 20, 2015, 09:40:36 AM »
I am of the view that UNIC has great potential of a run up in march. I am holding a few thousand and will add more. On P/E basis it is one of the cheapest insurance stock with a track record of bonuses/dividends. Only source of concern is its investment in Apna Micro finance bank which in my opinion may not be a remunerative investment. Because of low free float, once there is price run up, it will catch up fast without giving opportunity to those trying to get hold of it. Should touch 40 by early april unless there is some negative earnings surprise in 4 Q.

 :good 

 :good :good

Offline SAM71

  • Senior Member
  • *****
  • Posts: 1159
  • Thanks Received: 10
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #14 on: March 20, 2015, 09:41:08 AM »
I am of the view that UNIC has great potential of a run up in march. I am holding a few thousand and will add more. On P/E basis it is one of the cheapest insurance stock with a track record of bonuses/dividends. Only source of concern is its investment in Apna Micro finance bank which in my opinion may not be a remunerative investment. Because of low free float, once there is price run up, it will catch up fast without giving opportunity to those trying to get hold of it. Should touch 40 by early april unless there is some negative earnings surprise in 4 Q.

 :good 

 :good :good

Offline Value_Player

  • New Member
  • *
  • Posts: 23
  • Thanks Received: 0
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #15 on: March 20, 2015, 03:50:11 PM »
Sold half quantity at 39 due to market situation and uncertainty over bonus issue in results.

Offline SBM

  • Master Troll
  • Administrator
  • Senior Member
  • *****
  • Posts: 10797
  • Thanks Received: 100
  • Ouulman :)
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #16 on: March 20, 2015, 04:46:50 PM »
Sold half quantity at 39 due to market situation and uncertainty over bonus issue in results.

what do you mean ? bonus was announced @40%, what is the uncertainty ?
I hate waking up.

Offline jay

  • Junior Member
  • **
  • Posts: 307
  • Thanks Received: 1
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #17 on: March 20, 2015, 05:14:02 PM »
my advise is to quit on Tuesday next working day. bonus price is all ready added.

Offline ValueInvestor

  • Junior Member
  • **
  • Posts: 296
  • Thanks Received: 1
    • View Profile
Re: UNIC -- United Insurance Company of Pakistan Limited
« Reply #18 on: March 20, 2015, 05:15:47 PM »
Sold half quantity at 39 due to market situation and uncertainty over bonus issue in results.

what do you mean ? bonus was announced @40%, what is the uncertainty ?

@Value_Player,
Bummer, maybe you sold it before the result.
I bought it after reading your post and Prof. SBM's commentary.

Thank you to both of you.
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." - Warren Buffett

Tags: sbm