UOI

[valuehunter]

Value investors may consider studying the financials of this company and make an informed decision as to whether it is worthwhile to invest in this business. Can an insurance business run by a prudent and conservative management be a rather decent investment proposition?

[johnseah3270]

I studied UOI's 3Q2010 results recently and found out that its annualised EPS is S$0.505 for this financial year, NAV about S$3.60 and decided to buy. You should make your own judgement. I cannot guarantee you will make money. Don't expect this stock to "chiong".

[nervesofsteel]

Pls correct me if im wrong, if we exclude the one time adjustments for adjustment in unearned premium reserves (UPR) in 2013, underwriting margins seems to have fallen quite a fair bit in 9m14 (14%) compared to 9m13 (19%) , 9m12 (17%).

Is this due to intense competition?

[SpeedingBullet]

Pls correct me if im wrong, if we exclude the one time adjustments for adjustment in unearned premium reserves (UPR) in 2013, underwriting margins seems to have fallen quite a fair bit in 9m14 (14%) compared to 9m13 (19%) , 9m12 (17%).

Is this due to intense competition?

Insurance rates worldwide have been under immense pressure due to competition. And a big dog has just entered Singapore to make it worse - Berkshire Hathaway. Their insurer license just got approved on early December, and they poached many high level ex-AIG Asia executives over in their push into this region.

UOI's expense ratio is finally positive, end of a long run.

[cyclone]

UOI will be announcing its 2015 full year financial results on Friday, 5 February 2016.

[cyclone]

Proposed Acquisition of the Property at 146 Robinson Road Singapore 068909

United Overseas Insurance Limited (“UOI”) announced that it has today entered into a property sale agreement with United Overseas Bank Limited (“UOB”) pursuant to which UOB has agreed to sell, and UOI has agreed to purchase, the property located at 146 Robinson Road, Singapore 068909, subject to the terms and conditions set out in the Property Sale Agreement.

The Property is a 12-storey office building with a basement level of gross floor area of approximately 4,631.49 square meters (sm), situated at Land Lot 99752A, Town Subdivision 2 of land area 422.1 sm or thereabouts, and has a leasehold estate of 99 years from 3 June 1992.

The total consideration for the Proposed Acquisition is S$52 million.

The Directors believe that the Proposed Acquisition is beneficial to UOI. The Property will be UOI’s first real estate investment and is intended to be held as a long term investment to enhance the fixed asset base of UOI. The Property would provide a hedge against rental increases in the property market. Rental income from leasing out excess space would diversify UOI’s income stream and lessen profit volatility. The Property has street level frontage and visibility in a busy area of the financial district. The Directors are of the view that upon acquisition and relocation to the Property, UOI will receive an immediate boost to its corporate image and branding.

More details in https://links.sgx.com/FileOpen/UOI%20Rob...eID=590933

[weijian]

It seems that our OPMI Hero Ong has become a flag bearer to rally long-suffering OPMIs. Since starting the warfront with GEH one year ago, he has now gathered enough contacts to launch a new battlefield with another insurer UOI.

Will it be dejavu all over again? Probably not since the Wee Web looks really mangled and any unlocking of 1 web will have ripple effects on the other webs. But since the "picture of Patriarch Wee with many names below" has already been published, you never know.

UOI ‘reviewing’ minority investor’s proposals, including distributing Haw Par shares

In a March 3 bourse filing, UOI says a shareholder has contacted the company “claiming to act on behalf of these minority shareholders”. “As the company understands, these proposed resolutions pertain to distribution of shares in Haw Par Corporation held by the company to its shareholders, and appointment of a financial adviser to explore options to unlock shareholder value”.

“The company would like to assure shareholders that the board and management welcome constructive suggestions from shareholders. The company is reviewing the matter and will make further announcements as and when appropriate,” reads UOI's response.

Activist value-investor Ong Chin Woo, who represents shareholders holding 5% of United Overseas Insurance U13’s shares in issue, has written to the Board of Directors proposing two resolutions to be tabled at UOI’s annual general meeting to be held in April.

Resolution 1: To distribute UOI’s 4,274,600 ordinary shares in Haw Par Corporation H02 directly to UOI shareholders.

Resolution 2: To appoint a financial advisor to evaluate strategic options for maximising shareholder value.

https://www.theedgesingapore.com/news/co...ng-haw-par