Financial Highlights

FY 2019 financial results released on February 28th, 2020

  • Income Statement

    Underwriting Profit and Acquisition Expenses Ratio

    Operating Expenses and Operating Expenses Ratio

    Non-Insurance Income and ROI

    After-Tax Profit, ROA and ROE

    Balance Sheet (THB m)

    • Cash and Investment Assets
    • Others Assets
    • Insurance Reserve
    • Others Liabilities
    • Equity Attributable to the Company

    Income Statement

    Underwriting Profit and Acquisition Expenses Ratio

    Operating Expenses and Operating Expenses Ratio

    Non-Insurance Income and ROI

    Profit of the Company, ROA and ROE

    Balance Sheet (THB m)

    • Cash and Investment Assets
    • Others assets
    • Insurance Reserve
    • Others Liabilities
    • Equity Attributable to the Company
    • Non-Controlling Interests

    Capital Adequacy Ratio (%)

  • 2013 2014 2015 2016 2017 2018 2019
    Statements of financial position (THB m)
    Assets 26,344 12,817 13,566 14,224 12,328 9,755 7,667
    • Cash, cash equivalents, and investment assets
    		 14,281 8,164 8,213 9,130 7,563 5,781 4,350
    Liabilities 24,358 10,048 9,588 8,977 7,463 6,159 4,173
    • Technical reserve
    		 15,652 4,300 4,223 4,183 3,618 3,611 2,862
    Shareholders' Equity 1,985 2,769 3,979 5,247 4,865 3,596 3,494
    • Non-Controlling Interests
    		 0 0 0 0 0 0 0
    • The Company's Net Worth
    		 1,985 2,769 3,979 5,247 4,865 3,596 3,494
    Income Statement (THB m)
    Gross Premium Written 4,530 4,714 5,262 5,183 4,903 4,849 4,455
    Net Premium Written 4,176 4,462 3,314 3,404 3,041 3,483 3,498
    • Conventional
    		 859 815 778 1,271 1,349 1,801 1,540
    • Non-Conventional
    		 3,317 3,647 2,536 2,133 1,691 1,682 1,958
    Net Earned Premium 4,176 4,426 4,112 3,349 3,171 3,359 3,609
    Net Claims 7,015 4,478 1,794 1,461 1,485 1,842 1,977
    Acquisition Expenses 1,781 1,931 1,910 1,438 1,661 1,777 1,669
    Underwriting Profit
    • System-wide
    		 -4,620 -1,973 417 464 25 -260 -38
    • Exclude mega flood & 9 projects
    		 256 461 601 558 480 305 242
    Operating Expenses 138 189 142 200 211 208 197
    Net Non-Insurance Income 3,279 1,452 1,555 792 1,359 -260 349
    Interest Expenses 0 0 0 0 0 0 0
    EBT -1,478 -719 1,821 1,042 1,172 -727 115
    Income Tax (Revenue) Expense -363 676 324 167 541 309 20
    Non-Controlling Interests 0 0 0 0 0 0 0
    Profit of the Company -1,116 -1,395 1,497 875 631 -1,037 95
    Per Share Basis (THB/share)
    EPS -0.318 -0.37 0.36 0.21 0.15 -0.25 0.02
    DPS 0 0 0 0.15 0.10 0 0
    BVPS 0.57 0.66 0.94 1.24 1.15 0.85 0.83
    Key Ratio
    Profitability
    Net Loss Ratio 168.0 101.2 43.6 43.6 46.8 54.8 54.8
    Acquisition Expenses Ratio 42.6 42.7 47.7 42.9 52.4 52.9 46.3
    Operating Expenses Ratio 3.3 4.2 4.3 5.9 6.7 5.6 5.4
    Combined Ratio
    • System-wide
    		 213.9 148.1 95.6 92.4 105.9 113.3 106.5
    • Exclude mega flood & 9 projects
    		 98.7 99.0 95.6 92.4 105.9 113.3 106.5
    ROI 19.9 12.6 18.8 9.1 17.4 -3.5 7.2
    ROA -3.8 -7.1 11.3 6.3 0.05 -9.4 1.1
    ROE -43.0 -58.7 44.4 19.0 12.50 -24.5 2.7
    Solvency
    CAR (%) 209 158 297 339 331 302  329* 
    Noted: * : was the CAR ratio at the end of Q3/19
    2013 2014 2015 2016 2017 2018 2019
    Statements of financial position (THB m)
    Assets 27,910 14,682 15,112 14,418 12,395 9,842 7,813
    • Cash, cash equivalents, and investment assets
    		 15,282 9,378 9,875 9,124 7,404 5,660 4,258
    Liabilities 25,082 10,899 9,656 9,038 7,529 6,222 4,263
    • Technical reserve
    		 15,652 4,300 4,223 4,183 3,618 3,611 2,862
    Shareholders' Equity 2,828 3,782 5,456 5,380 4,866 3,620 3,549
    • Non-Controlling Interests
    		 555 728 44 60 0 0 0
    • The Company's Net Worth
    		 2,273 3,054 5,412 5,320 4,866 3,620 3,549
    Income Statement (THB m)
    Gross Premium Written 4,530 4,714 5,262 5,183 4,903 4,849 4,455
    Net Premium Written 4,176 4,462 3,314 3,404 3,041 3,483 3,498
    • Conventional
    		 859 815 778 1,271 1,349 1,801 1,540
    • Non-Conventional
    		 3,317 3,647 2,536 2,133 1,691 1,682 1,958
    Net Earned Premium 4,176 4,426 4,112 3,349 3,171 3,359 3,609
    Net Claims 7,015 4,478 1,794 1,461 1,485 1,842 1,977
    Acquisition Expenses 1,782 1,930 1,910 1,438 1,661 1,777 1,669
    Underwriting Profit
    • System-wide
    		 -4,620 -1,973 417 464 25 -260 -38
    • Exclude mega flood & 9 projects
    		 256 461 601 558 480 305 242
    Operating Expenses 126 180 132 187 199 200 187
    Net Non-Insurance Income 1,262 947 3,096 108 447 -227 389
    Interest Expenses 0.8 0.5 0.2
    EBT -3,484 -1,215 3,372 372 272 -688 164
    Income Tax (Revenue) Expense -730 536 642 69 368 324 39
    Non-Controlling Interests 45 202 74 25 15 0 0
    Profit of the Company -2,799 -1,953 2,655 278 -111 -1,012 125
    Per Share Basis (THB/share)
    EPS -0.80 -0.52 0.63 0.07 -0.03 -0.24 0.03
    DPS 0.00 0.00 0.00 0.15 0.10 0.00 0.00
    BVPS 0.65 0.72 1.28 1.26 1.15 0.86 0.84
    Key Ratio
    Profitability              
    Net Loss Ratio 168.0 101.2 43.6 43.6 46.8 54.8 54.8
    Acquisition Expenses Ratio 42.4 43.3 47.0 42.9 52.4 52.9 46.3
    Operating Expenses Ratio 3.6 3.4 4.7 5.9 6.3 5.3 5.2
    Combined Ratio              
    • System-wide
    		 213.9 147.9 95.3 92.4 105.5 113.1 106.2
    • Exclude mega flood & 9 projects
    		 98.7 98.8 95.3 92.4 105.5 113.1 106.2
    ROI 4.6 4.7 4.6 4.9 5.1 -4.2 6.4
    ROA -9.1 -9.2 17.8 2.1 -0.7 -9.1 1.4
    ROE -97.4 -73.3 62.7 5.2 -2.2 -23.8 3.5
    Solvency
    CAR (%) 209 158 297 339 331 302 329* 
    Noted: * : was the CAR ratio at the end of Q3/19