The Company operates all types of non-life insurance business that are fire insurance, marine insurance, motor insurance and miscellaneous insurance.
| 9M23 | 9M22 | 2022 | 2021 |
|---|
| Revenues | 2,407.73 | 2,145.51 | 2,935.80 | 2,849.19 |
| Expenses | 2,286.24 | 2,133.10 | 2,889.63 | 2,716.62 |
| Net Profit (Loss) | 103.55 | -1.59 | 24.84 | 109.35 |
| Assets | 6,267.94 | 6,264.16 | 6,280.63 | 6,278.91 |
| Liabilities | 4,061.22 | 4,130.70 | 4,095.60 | 4,030.63 |
| Shareholders' Equity | 2,206.71 | 2,133.46 | 2,185.03 | 2,248.28 |
| Operating | -44.99 | 227.12 | 209.70 | 115.18 |
| Investing | -19.42 | -2.72 | -151.06 | -9.91 |
| Financing | -47.14 | -63.85 | -67.14 | -66.89 |
| EPS (Baht) | 2.80 | -0.04 | 0.69 | 3.12 |
| GP Margin (%) | ||||
| NP Margin (%) | 4.30 | -0.07 | 0.85 | 3.84 |
| D/E Ratio (x) | 1.84 | 1.94 | 1.87 | 1.79 |
| ROE (%) | 5.99 | 2.05 | 1.12 | 5.04 |
| ROA (%) | 2.50 | 1.19 | 0.77 | 2.18 |
In 2023, the Company proactively builds strength from 2022 by expanding the customer base and adjusting premium rates. Motor insurance products especially EV have been developed to serve the demands of new customer groups and digital insurance are developed. The Company establishes online insurance marketing channels and uses more technology for insurance. The Company provides working and service systems to reduce the work process, focuses on cost management and prepares financial documents in electronic forms. The Company's system is prepared to support IFRS 17 that will be effective in 2025. Sustainable business operations according to the ESG concept are also prepared.
The Company is committed to creating organization’s value for the benefit of all stakeholders and operate business responsibly. The Company establishes the framework for sustainable development as follows;
- Economic: The Company conducts business with transparency with the principles of good corporate governance and business ethics complying with the laws, rules and regulations. The Company respects rights and fair treatment of stakeholders and improves business operations and innovation for products and services.
- Social: The Company develops knowledge and understanding as well as expanding channels of insurance products and services. The Company treats employees fairly and promotes human resource development.
- Environment: The Company manages efficient use of energy and resource by applying innovation or modern technology in work processes, services and products development. The Company also raises awareness of environmental responsibility among executives and employees.
Throughout the past 90 years, the Company's business has continued to expand. The Company implemented new technologies, which is the basis for excellence in all aspects, along with inventing and developing quality insurance products to meet the demands of customers. The Company has expanded distribution channels and service networks for customers to access the Company's services more easily. Besides, the Company still adheres to conducting business in accordance with Good Corporate Governance to grow steadily and sustainably.
Financial Highlights as at 9M/2023 (Unit: million Baht)
Gross premium written 2,787
Unearned premium reserves 67.02
Net premium written 2,257
Earned premium 2,190
Net claim and loss adjustment expenses 1,581
Profit before income tax expenses 176
Net profit 147
The Company Increased registered capital by 10 million Baht to support the stock dividend payment to existing shareholders by issuing new 1 million ordinary shares with a par value of 10 Baht per share, as a result total registered capital is 370 million Baht.
Follow link for more detail
The Company defines a risk management policy which is in accordance with the Company's business strategy. The Board of Directors assigns the Risk Management Committee to supervise risk management systematically, continuously, efficiently with maximum benefits according to ERM and ORSA to ensure that the Company has a stable financial position, a stable capital and appropriate risk management.
The Company manages risks by identifying the key risks that may occur and providing a risk register as well as reviewing risks at least once a year, evaluating and prioritizing also responding to risks in accordance with the acceptable deviation range. There is a monitoring and improving on risk management evaluation process to control level of risk and reporting information on risk management and risk status by type of risk to the executives and the Board of Directors regularly.
Major types of risks of the Company, which may affect the income, capital fund, reputation or existence in various aspects, are as follows; strategic risk, insurance risk, market risk, credit risk, liquidity risk, operational risk, reputational risk, information technology risk, catastrophic risk, emerging risk, group risk and environmental, social and governance risk
The Company has achieved the CGR scores of “Excellent” level since 2006 until now. CGR is a survey project to monitor and evaluate the development of Corporate Governance of Thai listed companies. The project is operated by IOD with the support of the Stock Exchange of Thailand and The Securities and Exchange Commission.
Follow link for more detail
| as of 29/09/23 | NKI | INSUR | SET |
|---|---|---|---|
| P/E (X) | 10.29 | 16.18 | 20.33 |
| P/BV (X) | 0.48 | 1.39 | 1.44 |
| Dividend yield (%) | 3.36 | 3.43 | 3.18 |
| 29/09/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 1,073.00 | 1,170.00 | 1,601.25 |
| Price (B/Share) | 29.00 | 32.50 | 45.75 |
| P/E (X) | 10.29 | 26.55 | 15.70 |
| P/BV (X) | 0.48 | 0.55 | 0.74 |
