The First Insurance Co., Ltd. (TPE:2852)

The First Insurance Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	901.96	903.3	636.24	558.85	553.14	152.88
Depreciation & Amortization	29.18	29.73	33.79	34.14	29.53	26.11
Other Amortization	14.63	14.47	16.36	16.42	15.72	10.51
Gain (Loss) on Sale of Assets	0.89	0.89	0.61	0.14	0.86	2.71
Change in Accounts Receivable	-122.86	-89.17	-9.8	125.9	26.44	105.74
Reinsurance Recoverable	292.15	253.77	-732.25	-139.34	45.08	118.92
Change in Insurance Reserves / Liabilities	-14.59	-	-	-16.56	13.57	2.99
Change in Other Net Operating Assets	1,035	92.44	11.75	-1,321	-2,007	-328.66
Other Operating Activities	-277.36	-175.06	1,000	533.18	426.4	327.08
Operating Cash Flow	840.58	1,259	296.95	63.79	43.13	251.5
Operating Cash Flow Growth	59.75%	323.89%	365.48%	47.91%	-82.85%	-36.64%
Capital Expenditures	-1.79	-9.74	-12.59	-15.56	-27.9	-22.51
Purchase / Sale of Intangible Assets	-5.01	-2.3	-9.91	-13.28	-14.51	-18.34
Investing Cash Flow	-6.79	-12.04	-22.5	-28.84	-42.56	-40.85
Total Debt Repaid	-3.04	-3.15	-4.15	-4.09	-3.32	-2.56
Net Debt Issued (Repaid)	-3.04	-3.15	-4.15	-4.09	-3.32	-2.56
Common Dividends Paid	-340.32	-340.32	-216.84	-364.41	-105.41	-289.12
Financing Cash Flow	-343.35	-343.47	-220.99	-368.5	-108.73	-291.68
Foreign Exchange Rate Adjustments	-0.71	3.33	-1.68	3.46	-1.86	-3.66
Net Cash Flow	489.72	906.56	51.78	-330.08	-110.02	-84.69
Free Cash Flow	838.79	1,249	284.36	48.24	15.23	228.99
Free Cash Flow Growth	65.31%	339.23%	489.48%	216.69%	-93.35%	-41.03%
Free Cash Flow Margin	10.87%	16.10%	3.85%	0.70%	0.23%	3.89%
Free Cash Flow Per Share	2.78	4.14	0.94	0.16	0.05	0.76
Cash Interest Paid	0.27	0.29	0.28	0.16	0.18	0.15
Cash Income Tax Paid	154.01	152.78	108.17	96.29	33.43	100.67
Levered Free Cash Flow	-340.09	660.67	628.83	1,215	1,611	210.68
Unlevered Free Cash Flow	-339.92	660.85	629	1,215	1,611	210.77
Change in Working Capital	176.22	489.25	-1,389	-1,083	-984.88	-266.84

Updated Mar 11, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.