The Company is a reinsurance broker. Its core business is grouped into two categories, namely 1) Traditional Business and 2) Alternative Business and 3) Other Business.
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 249.93 | 243.50 | 256.37 | 196.04 |
| Expenses | 124.43 | 119.76 | 134.73 | 102.05 |
| Net Profit (Loss) | 100.31 | 98.23 | 97.48 | 74.06 |
| Assets | 591.57 | 595.32 | 547.36 | 212.98 |
| Liabilities | 91.97 | 98.52 | 88.15 | 111.49 |
| Shareholders' Equity | 498.23 | 495.44 | 457.88 | 101.50 |
| Operating | 102.78 | 90.11 | 40.70 | 93.62 |
| Investing | 5.01 | -103.99 | -246.97 | -20.55 |
| Financing | -101.49 | -70.76 | 252.93 | -35.04 |
| EPS (Baht) | 0.44 | 0.43 | 0.44 | 1.31 |
| GP Margin (%) | 76.00 | 76.05 | 74.93 | 73.38 |
| NP Margin (%) | 40.14 | 40.36 | 38.02 | 37.78 |
| D/E Ratio (x) | 0.18 | 0.20 | 0.19 | 1.10 |
| ROE (%) | 20.19 | 20.61 | 34.85 | 93.88 |
| ROA (%) | 21.26 | 21.66 | 31.99 | 32.12 |
1) The Company is ready to grow alongside its partners, both nonlife insurance and reinsurance companies. The Company is committed to provide integrated and efficient services by following our principle, your success is our business. 2) The Company is committed to continuously develop new products to respond to the need of insurance policy holders, nonlife insurers, and reinsurance brokers to grow insurance business and increase access to insurance for people in general while carrying a motto “risk is opportunity”. 3) The Company explores opportunity for new business investment relating services that align with insurance business. This will not only create new revenue generation channel, but also support core business to grow continuously. 4) The Company is committed to enhance operational efficiency. It also focuses on providing services for business partners by applying information technology system to enhance its efficiency and responsiveness in transmitting and analyzing insurance data.
The company places importance on social and environmental responsibility. Sustainable development coupled with conducting business under the framework of good corporate governance. Create value from the perspective of the company and all stakeholders.
The Company has more 20 years of experience in the business, thoroughly understanding non-life insurance business and market with expertise in reinsurance brokerage business. Incorporated with good relationship with local and overseas partners.
Revenue In YE/2023 and YE/2022, the Company had service income of THB 249.93 million and THB 243.50 million, respectively, an increase of THB 6.43 million or 2.64% from the YE/2022, This was mainly due to an increase in other premium insurance contracts (Specialty), such as Political violence insurance. Director’s & Officer’s Insurance, (Medical Malpractice Liability Insurance, Cyber Insurance. Net profit for the YE/2023 and YE/2022, the Company's net profit There were THB 100.31 million and THB 98.23 million respectively, an increase of THB 2.08
million or 2.11%
2023, 30% stake in ALPHASEC Co., Ltd., which provides information technology services and consultancy, especially in cybersecurity and personal data protection.
2021 listed in MAI on 17 February 2021. Established, a subsidiary, R Square Co., Ltd., with the Company holding 55% of the THB 3 million registered capital. The subsidiary is aimed to provide an online learning-training platform with “Face Detection and Face Recognition” technology. 2020 assisted in sourcing reinsurance contracts, including COVID-19 insurance policies for insurance companies. In addition, the Company registered as public company and increased its registered capital to THB 115 million. 2016 reorganized analysis and development department to support new product development to enhance its competitiveness. 2013 increased capital to THB 7.5 million. 2012 established the company with THB 5 million of registered capital and began reinsurance brokerage business
1) Risk of dependency on major cadent. The Company’s major clients comprise of three insurers, which contribute more than 50 % of its revenue. If those major clients encounters with a problem or changes business direction, this will impact ours revenue. Risk mitigation measures: The Company has focused on considering and selecting insurance companies that have stable financial status with reputation and long-standing experience in the business. The Company has also built-up relationship with other insurance companies to expand business opportunity. 2) Risk of dependency on major reinsurers. The Company has partnered with one local reinsurer and another overseas reinsurer. Revenue from partnering with these two reinsurers contributes more than 60 % of the its revenue. If any of the reinsurers changes its business direction, this will impact the Company’s revenue. Risk mitigation measures: The Company has focused on considering and selecting reinsurers that have stable financial status with credit rating above A-. For local insurers, CAR ratio must not be less than 200%.
In 2020 the Company received Best Broker Award form LLOYD'S and during 2016-2018, received Insurance Award as the Best Corporate Non-Life Insurance Broker for three consecutive years from the Office of Insurance Commission. The company received an award "Outstanding Quality Corporate Insurance Broker" from OIC for another 3 consecutive years in 2021-2023, in total receiving the award for 6 consecutive years., R Square Co., Ltd., its subsidiary, entered a Memorandum of Understanding (MOU) on using online learning system that applies artificial intelligence technology with Thai Insurance Brokers Association. Awarded CGR Excellence 2023 5 stars.
| as of 28/12/23 | TQR | FINCIAL | mai |
|---|---|---|---|
| P/E (X) | 15.74 | - | 109.18 |
| P/BV (X) | 3.31 | 2.07 | 2.17 |
| Dividend yield (%) | 5.78 | 1.44 | 1.53 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 1,552.50 | 2,691.00 | 3,289.00 |
| Price (B/Share) | 6.75 | 11.70 | 14.30 |
| P/E (X) | 15.74 | 38.06 | 31.95 |
| P/BV (X) | 3.31 | 5.75 | 7.18 |
