Post by account_disabled on Dec 30, 2023 14:50:30 GMT 5.5
THRE explains operating results for the 9-month period of 2019, turning in a net profit of 109 million baht after being negative over 470 million baht in the same period last year. The main reason is the increase in reinsurance premiums, investment income, and service income. Reflects the turnaround signal clearly Management is confident that the overall picture for 2019 will increase ROE to 3-4%. Mr. Olarn Wongsurapichet Chief Executive Officer of Thai Reinsurance Public Company Limited (THRE) revealed an overview of operating results for the first 9 months of 2019 that the company turned in a net profit of 109 million baht from the same period before the net loss reached 476 million baht.
The main reason B2B Email List was Supported by net reinsurance premiums increased 6% from the same period last year to 3,509 million baht in line with business growth. Non-Conventional or joint product development services with partners Meanwhile, reinsurance results improved 51% because there were no special items like last year. that recorded profit sharing from long-term insurance contracts in the amount of 159 million baht, which was a one-time transaction (One Time Off) In addition, the company also had net investment income of 208 million baht, compared to a net loss of 23 million baht in the same period last year because this year there was no impact from the decrease in fair value. (mark-to-market) of trading investments Just like what happened last year. and had net service income of 64 million baht, an increase of 5% in line with the growth of the service business.
which clearly reflects the signal of turning around. Mr. Olan added that the overall picture for 2019 will be able to push the rate of return on equity (ROE) to reach the level of 3 - 4%, with reinsurance premiums increasing by 5% to reach nearly 3,700 million baht under the progress. planned plan Both in terms of reinsurance Designing new products, services, and marketing As for the Conventional business, we will accelerate our efforts to increase the proportion of new forms of insurance. both in the health insurance group and personal accidents, while Non-Conventional businesses Will push for the proportion to increase to 60% by the end of this year.
The main reason B2B Email List was Supported by net reinsurance premiums increased 6% from the same period last year to 3,509 million baht in line with business growth. Non-Conventional or joint product development services with partners Meanwhile, reinsurance results improved 51% because there were no special items like last year. that recorded profit sharing from long-term insurance contracts in the amount of 159 million baht, which was a one-time transaction (One Time Off) In addition, the company also had net investment income of 208 million baht, compared to a net loss of 23 million baht in the same period last year because this year there was no impact from the decrease in fair value. (mark-to-market) of trading investments Just like what happened last year. and had net service income of 64 million baht, an increase of 5% in line with the growth of the service business.
which clearly reflects the signal of turning around. Mr. Olan added that the overall picture for 2019 will be able to push the rate of return on equity (ROE) to reach the level of 3 - 4%, with reinsurance premiums increasing by 5% to reach nearly 3,700 million baht under the progress. planned plan Both in terms of reinsurance Designing new products, services, and marketing As for the Conventional business, we will accelerate our efforts to increase the proportion of new forms of insurance. both in the health insurance group and personal accidents, while Non-Conventional businesses Will push for the proportion to increase to 60% by the end of this year.
