Risk factor
Very high price volatility
Profitability factor
Greatly undervalued vs peers
About
Bangkok Union Insurance Public Company Limited, a Thai firm based in Bangkok, has been providing a diverse range of non-life insurance products to both individual and business customers across Thailand since its establishment in 1929. The company primarily underwrites policies for fire, marine and transportation, and motor vehicles, while also engaging in reinsurance. Its extensive offerings encompass various general insurance categories, such as property all risks, health, personal accident, public liability, plate glass, golfer's indemnity, burglary, money, and fidelity guarantee. Moreover, it specializes in engineering liability coverage, including policies for contract work, machinery, boilers, contractor's equipment, and electronic equipment. In addition to its insurance operations, the company also manages the rental of office premises.
Company Valuation
Based on key historical and expected multiples, the stock is greatly undervalued relative to its peers. Specifically, the stock is 'cheap' on P/E, undervalued on EV/EBITD