The First Insurance Income Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	6,996	6,996	6,651	6,277	5,902
Total Interest & Dividend Income	255.42	247.05	213.87	142.16	124.1
Gain (Loss) on Sale of Investments	83.07	206.6	164.87	98.1	217.27
Other Revenue	278.2	306.6	358.96	325.21	318.26
Total Revenue	7,613	7,756	7,389	6,843	6,562
Revenue Growth (YoY)	-1.85%	4.97%	7.99%	4.28%	11.34%
Policy Benefits	3,702	3,758	3,764	3,509	3,223
Policy Acquisition & Underwriting Costs	1,134	1,203	1,190	1,099	1,046
Selling, General & Administrative	1,318	1,604	1,534	1,504	1,476
Provision for Bad Debts	-0.07	3.92	-0.09	-0.05	-0.04
Other Operating Expenses	330.51	137.39	151.75	143.38	144.51
Total Operating Expenses	6,485	6,706	6,640	6,256	5,890
Operating Income	1,129	1,051	749.35	587.08	672.05
Interest Expense	-0.13	-0.29	-0.28	-0.16	-0.18
Currency Exchange Gain (Loss)	-49.64	30.15	5.96	88.16	-25.65
Other Non Operating Income (Expenses)	0.35	0.1	0.04	0	0.12
EBT Excluding Unusual Items	1,079	1,081	755.08	675.08	646.34
Gain (Loss) on Sale of Assets	-0.02	-0.89	-	-	-
Asset Writedown	-	-	-0.61	-0.14	-0.86
Pretax Income	1,079	1,080	754.47	674.93	645.48
Income Tax Expense	198.91	176.33	118.23	116.09	92.34
Net Income	880.19	903.3	636.24	558.85	553.14
Net Income to Common	880.19	903.3	636.24	558.85	553.14
Net Income Growth	-2.56%	41.97%	13.85%	1.03%	261.81%
Shares Outstanding (Basic)	301	301	301	301	301
Shares Outstanding (Diluted)	302	301	301	301	301
Shares Change (YoY)	0.06%	0.00%	-0.01%	0.02%	0.02%
EPS (Basic)	2.92	3.00	2.11	1.86	1.84
EPS (Diluted)	2.92	3.00	2.11	1.85	1.84
EPS Growth	-2.65%	42.15%	14.05%	0.73%	261.81%
Free Cash Flow	436.57	1,249	284.36	48.24	15.23
Free Cash Flow Per Share	1.45	4.14	0.94	0.16	0.05
Dividend Per Share	1.660	2.100	1.130	0.720	1.210
Dividend Growth	-20.95%	85.84%	56.94%	-40.50%	245.71%
Operating Margin	14.82%	13.54%	10.14%	8.58%	10.24%
Profit Margin	11.56%	11.65%	8.61%	8.17%	8.43%
Free Cash Flow Margin	5.73%	16.10%	3.85%	0.70%	0.23%
EBITDA	1,153	1,077	778.94	617.13	698.23
EBITDA Margin	15.15%	13.89%	10.54%	9.02%	10.64%
D&A For EBITDA	24.8	26.58	29.59	30.06	26.19
EBIT	1,129	1,051	749.35	587.08	672.05
EBIT Margin	14.82%	13.54%	10.14%	8.58%	10.24%
Effective Tax Rate	18.43%	16.33%	15.67%	17.20%	14.31%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.