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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Arpico Insurance best to buy

Arpico Insurance best to buy

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1Arpico Insurance best to buy Empty Arpico Insurance best to buy Thu Sep 17, 2015 11:24 am

truth20152016


Stock Trader
AINS.N0000 will be another REXP.N000....???

Among top 20 shareholders the holding percentage is 97.85% whereas the Richard Pieris Group hold about 90% which will never come to the market
from the balance 7.85% Senthirivel family holds about 1,529,000 shares ( quarter reports published in CSE )

Richard Pieris Group Holding
Kegalle Plantation 40.29%, Richard Pieris Distributors 26.86%, Richard Pieris N Company 22.84 %

based on above, the stock has limited number of shares in the market and the company performance is also in a positive track

the IPO price was 12/= the current market price is 14.60/=

I write... you decide

2Arpico Insurance best to buy Empty Re: Arpico Insurance best to buy Thu Sep 17, 2015 11:41 am

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
One of the most overvalued shares in the market, look at there current earning levels. Doesn't even justify IPO price. They're a very small fish in a big pond. I don't think they're even in the top7 in terms of market share. They're not aggrivesively marketing there product, so I don't know how they're going find traction in this insurance market. It's pretty hard to find a person u know who has been insured by aprico.
Sri Lanka insurance
Ceylinco
Janashakthi
AIA
Asian alliance
HNB assurance
Contenential insurance

3Arpico Insurance best to buy Empty Re: Arpico Insurance best to buy Thu Sep 17, 2015 12:14 pm

truth20152016


Stock Trader
Dear Jayathu

Tnx for the critics....
the above mention insurance companies are engage in every insurance sector but Apico Insurance is engage in Life Insurance only that is the main reason you have never heard of people who have got insured from Arpico Insurance..
Q. If you take a life insurance do you tell it to anyone? the general answer is NO, thats why you could not find any people who have used the insurance facility cz their target market is high end individuals, middle upper class so its not you my friend

regarding valuation please check the prospectus you will find proper valuation based on sector 

Tnx Jayathu for your opinion again

4Arpico Insurance best to buy Empty Re: Arpico Insurance best to buy Thu Sep 17, 2015 1:01 pm

Hawk Eye

Hawk Eye
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Arpico Insurance is the subsidiary of a well established large conglomerate and taking each step on a well laid plan. Just check the below extracts from prospects and check the Quarterly Reports.

..........Arpico Insurance (AINS) aims to achieve LKR 1 Bn in GWP in year 2017, which would be the 6th year of its profits in In addition to that, Arpico Insurance also aims to make profits in 2014 which would be the 3rd year of operations. If achieved, this would be a record that has not been achieved by any life insurer in the history of the Sri Lankan insurance industry............


Also keep a note on this statement..


...AIA Insurance and Fairfax Insurance have already made their entry into Sri Lanka through acquisitions and mergers with existing local insurers. This in turn proves the appetite of world insurers to enter into the Sri Lankan market and reap benefits while this might continue to be one of the trends in creating growth in the Sri Lankan insurance industry….



Last edited by Hawk Eye on Thu Sep 17, 2015 1:02 pm; edited 1 time in total (Reason for editing : error rectification)

5Arpico Insurance best to buy Empty Re: Arpico Insurance best to buy Thu Sep 17, 2015 1:42 pm

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Dear truth,

Don't take constructive criticism personally. I based my valuation on figures which ar in front of me. There eps annualized is 47cents. Then P/E ratio comes to 30times.
If you look at cins jins Aaic you will see there P/E ratio is less than 15. By looking at those figures its better to invest in those shares rather than arpico.

As for your question
Q. If you take a life insurance do you tell it to anyone? My answer is yes, I have one with Ceylinco life. I know lot of people who's having life insurance.
You stated arpico is going after high net worth people for insurance, but it's hard field to penetrate. Already Aaic, continental n union ar following that strategy. They're avg premium per life policy holder is double than the mkt avg.

6Arpico Insurance best to buy Empty Re: Arpico Insurance best to buy Thu Sep 17, 2015 1:46 pm

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
For me arpico insurance prospectus is like softlogic prospectus. They had high valuation targets n when they didn't achieve those next couple of years share price crashed. That's what happen with softlogic.

7Arpico Insurance best to buy Empty Re: Arpico Insurance best to buy Thu Sep 17, 2015 4:11 pm

slequityanalyst


Manager - Equity Analytics
Manager - Equity Analytics
Guys, firstly AINS is only in to Long Term Insurance. Comparatively, LT insurance is more profitable than the General insurance. JKH's sale of only the General segment, I assume is not an accident!! Hence, comparing it with composite insurers does not make sense, I beleive. 

On the other hand, don't forget who was the owners of AAIC before Softlogic. 

One more point is that start-ups are difficult to be priced based on current earnings. Their growth comes in double digits as opposed to larger established players. That is why in just like 3-4 years they managed to emerge profitable. 

Also about the "big pond theory", it is worthy mentioning that the pond can be even more bigger as Sri Lanka progress. Hence, growth will not only come from the existing pond but also the growing pond. 

However, accept the fact that penetrating in to a competitive market is not that easy. But, you can compare them to other new comers and clearly see them standing above the crowd. 

The company issued exactly 10% to the market offering the bare minimum required to be listed. This is an indication that the promoters did not want to sell down so early. (however, regulatory requirement was there from IBSL). So, free float of this stock is really low. 

As a side note I have to say I still hold its shares, based on my view, which I bought at the IPO. So far it has done well and I'm unable to compare it to Softlogic IPO!!  Smile

My ideas. YOU DECIDE!!

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