Union Insurance Cash Flow Statement

Financials in millions TWD. Fiscal year is January - December.

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	972.74	1,222	1,200	-1,322	696.67	702.1
Depreciation & Amortization	101.85	87.2	77.27	70.81	68.47	71.3
Gain (Loss) on Sale of Assets	-8.39	-10.15	-	-	-	-54.13
Gain (Loss) on Sale of Investments	9.71	-363.26	-345.73	544.01	-336.88	-240.45
Change in Accounts Receivable	-85.79	-67.23	24.29	106.89	-17.93	224.87
Reinsurance Recoverable	-1,416	-1,135	35.14	-392	98.73	228.34
Change in Accounts Payable	229.23	229.23	67.29	-	-	-
Change in Income Taxes	-	-	-	-7.23	-	-
Change in Other Net Operating Assets	-2,041	-1,102	46.13	-647.44	-298.84	277.87
Other Operating Activities	2,095	1,875	284.69	1,037	725.14	-121.65
Operating Cash Flow	-112.78	-260.13	716.19	-255.37	1,658	439.99
Operating Cash Flow Growth	-	-	-	-	276.88%	126.56%
Capital Expenditures	-56.7	-47.39	-23.82	-62.19	-195.86	-56.71
Sale of Property, Plant & Equipment	13.75	11.14	-	-	-	3.98
Purchase / Sale of Intangible Assets	-16.39	-31.88	-32.44	-12.8	-0.86	-3.86
Other Investing Activities	-0.21	-1.43	-29.04	-10.23	-4.98	-21.17
Investing Cash Flow	-59.56	-69.57	-287.94	-85.23	-202.07	32.96
Total Debt Repaid	-16.22	-16.65	-16.36	-16.74	-15.6	-16.27
Net Debt Issued (Repaid)	-16.22	-16.65	-16.36	-16.74	-15.6	-16.27
Common Dividends Paid	-335.41	-	-	-223.61	-178.89	-187.41
Financing Cash Flow	-351.64	-16.65	-16.36	-240.34	-194.48	-203.67
Net Cash Flow	-523.97	-346.35	411.9	-580.94	1,262	269.28
Free Cash Flow	-169.48	-307.53	692.37	-317.56	1,462	383.27
Free Cash Flow Growth	-	-	-	-	281.55%	422.41%
Free Cash Flow Margin	-1.53%	-2.80%	6.56%	-3.94%	16.62%	4.66%
Free Cash Flow Per Share	-0.76	-1.37	3.10	-1.42	6.49	1.70
Cash Interest Paid	9.17	9.49	7.27	7.79	4.69	2.48
Cash Income Tax Paid	309.11	162.59	14.38	102.51	6.54	7.17
Levered Free Cash Flow	2,661	545.11	234.08	527.53	998.08	40.97
Unlevered Free Cash Flow	2,666	551.04	238.62	532.39	1,001	42.52
Change in Working Capital	-3,282	-3,095	-522.68	-612.23	539.31	75.48

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.