The Company operates by holding shares in other companies (Holding Company) with businesses as follows:1. Insurance broker business, which is a core business, divided into Non-life insurance broker businesses: TQM Insurance Brokers Co., Ltd., TJN Insurance Brokers Co., Ltd., and True Extra Brokers Co., Ltd. Life insurance broker businesses: TQM Life Insurance Broker Co., Ltd. and True Life Brokers Co., Ltd., and Reinsurance broker business: TQR Public Company Limited. The supporting business includes TO 2020 Co., Ltd. (overseas investment), Casmatt Co., Ltd. (IT and software services), TQC Co., Ltd. (health insurance/accident claims management services) and My Group Intelligent Co., Ltd. (invest in other companies, including businesses related to logistics agents). 2. Financial business, consisting of Personal loan business: Easy Lending Co., Ltd. and Secured loan business: Cashnow Plus Co., Ltd. 3. Technology platform business, including Insurance platform: SureKrub.com Co., Ltd. and TQD Co., Ltd. and construction platform: Builk One Group Co., Ltd.
| 2024 | 2023 | 2022 | 2021 |
|---|
| Revenues | 3,991.26 | 3,756.82 | 3,726.93 | 3,683.38 |
| Expenses | 2,864.66 | 2,652.43 | 2,614.82 | 2,460.28 |
| Net Profit (Loss) | 810.87 | 816.27 | 809.29 | 890.43 |
| Assets | 5,704.04 | 5,459.40 | 4,903.03 | 4,983.75 |
| Liabilities | 2,248.91 | 2,185.33 | 1,745.28 | 1,513.96 |
| Shareholders' Equity | 2,882.16 | 2,714.49 | 2,570.29 | 2,676.37 |
| Operating | 462.59 | 775.64 | 418.20 | 918.09 |
| Investing | 282.75 | -239.94 | -126.49 | -548.06 |
| Financing | -617.88 | -377.68 | -515.22 | -630.41 |
| EPS (Baht) | 1.35 | 1.36 | 1.35 | 1.48 |
| GP Margin (%) | 50.64 | 52.90 | 52.89 | 54.10 |
| NP Margin (%) | 21.59 | 22.88 | 23.76 | 26.86 |
| D/E Ratio (x) | 0.65 | 0.67 | 0.55 | 0.44 |
| ROE (%) | 28.98 | 30.89 | 30.85 | 35.08 |
| ROA (%) | 20.39 | 21.41 | 23.83 | 28.44 |
The Company has a long-term goal of 5 years to create growth both from existing businesses and new ventures. The aim is to achieve growth in new businesses that keep pace with the main business, expanding new ventures in finance and technology platforms to generate revenue in proportions close to the insurance brokerage, which is the core business. There are plans to list outstanding subsidiary companies on the stock market.
The Company operates under a philosophy of honesty, integrity, excellent service, and giving back to society, focusing on being a trusted advisor to customers rather than just an insurance broker. It adheres to sustainable policies in ESG, aligning with the United Nations' Sustainable Development Goals.
As an insurance broker, the Company's primary responsibility is sourcing and presenting valuable products for customers, considering after-sales services and managing relationships with partner insurers. By offering high-quality sales channels, the Company achieves sales targets and fosters long-term mutual growth, operating under the strict supervision of the Office of the Insurance Commission (OIC). [More]
Insurance business - Growth opportunities align with economic recovery and new trends such as electric vehicles, health consciousness, and greater customer awareness of natural disasters and the importance of home and property insurance.
Financial business - Expansion opportunities arise from increasing loan products and collaborating with business partners.
Technology platform business - Attracting new customers and generating growth for insurance and financial businesses.
Total revenue in 2024 was 3,991 MB, compared to 3,757 MB in 2023, increasing by 6.2% driven by overall insurance product sales, particularly in motor and life insurance, where customer trust and satisfaction in our services have led to an increase in new purchases and policy renewals.
Cost of services was 1,928 MB, increasing by 11.1%, in line with the increased revenue.
Administrative expenses were 937 MB, increasing by 2.2% increase in line with the expansion of business.
Gross profit was 1,978 MB, increasing by 1.4%.
Net Profit was 862 MB, increasing by 0.3%. Net profit attributable to the parent company was 811 MB, showing a 0.7 change.
- On 24 July 2024, the Board of Directors passed the resolutions to acknowledge the investment in My Group Intelligent Company Limited valued at 300 MB.
- On 14 August 2024, the Board of Directors approved the interim dividend payment from the financial statements of 1 January to 30 June 2024 of Baht 0.45 per share, 600 million shares, amounting Baht 270 million.
- On 14 August 2024, the Board of Directors passed the resolutions to acknowledge the investment in Ngern Rueang Jib Company Limited.
- On 14 August 2024, the Board of Directors passed the resolutions to propose to shareholders' meeting a plan for issuing debentures not exceeding Baht 600 million by Easy Lending Co., Ltd.
- On 24 December 2024, the Board of Directors’ has resolved to approve the Share Repurchase Program for Financial Management in the amount not exceeding Baht 700 million and a number of the share not exceeding 30 million shares.
The Company's risk management system involves identifying, assessing, responding to, monitoring, and reporting various risks, including compliance risks, business risks such as major partners and recruitment of skilled personnel with licenses, risks associated with shifts in consumer behavior, and competitive conditions. It also addresses risks from alterations in insurance company policies, reputational risks, information technology system risks, and environmental, social, and governance (ESG) concerns.
- Outstanding Life and Non-Life insurance broker award from OIC for more than 10 consecutive years
- Outstanding CEO Awards from SET in 2021 and 2024
- Thailand’s Top Corporate Brands 2021 - 2023
- Thailand Top Awards 2022 - Best Customer Experience Award
- Certified with ISO/IEC 27001:2022
- Listed on the list of SET ESG Ratings with "A" rating and achieved CG Score at “Excellent” level from 2020 to 2024
- Scored 100/100 on the AGM checklist by the Thai Investors Association from 2021 to 2024
| as of 30/12/24 | TQM | INSUR | SET |
|---|---|---|---|
| P/E (X) | 17.97 | 12.59 | 19.33 |
| P/BV (X) | 5.63 | 1.03 | 1.40 |
| Dividend yield (%) | 3.92 | 3.46 | 3.23 |
| 30/12/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 15,300.00 | 17,250.00 | 23,400.00 |
| Price (B/Share) | 25.50 | 28.75 | 39.00 |
| P/E (X) | 17.97 | 21.34 | 28.41 |
| P/BV (X) | 5.63 | 6.80 | 10.22 |
