Thaire Life Assurance Public Company LimitedTHREL
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THREL reported Q2 net profit up 239% with improved combined ratio and positive outlook.
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Thaire Life Assurance Public Company LimitedThai Reinsurance Life Public Company Limited, or THREL, reported second quarter 2569 net profit of 32 million baht, up 239 percent from the same period last year. Reinsurance premiums received rose 6 percent to 1.112 billion baht, driven by growth in individual health insurance. The net combined ratio improved to 88.8 percent from 93.5 percent a year earlier. Managing Director Vipon Vorasauharut said insurance service results posted a profit of 59 million baht, up 69 percent. Although insurance revenue edged down about 2 percent to 527 million baht, insurance service expenses fell 9 percent to 457 million baht. Net investment income came in at 21 million baht, up about 12 percent, helped by gains from fair value adjustments on fund investments. Vipon said growth signals for the second half of 2569 remain positive, and he is confident full year 2569 results will return to profit as targeted. The recovery reflects the success of the fix and build underwriting restructuring strategy, including clearing low quality portfolios, adjusting reinsurance terms, and managing claims efficiently, as the company moves toward its Road to Quality.
Thaire Life Assurance Public Company LimitedTHREL reported Q2 net profit up 239% with improved combined ratio and positive outlook.