Company Overview

Message from the Chairman and CEO

Over the past year, the global economy continued to face challenges arising from geopolitical uncertainties, climate change, and cybersecurity risks. Meanwhile, Thailand’s economy in 2024 experienced gradual growth, supported by a recovery in the tourism and export sectors. However, the automobile market remained under pressure due to challenges in loan approvals, which, in turn, has constrained the growth of the non-life insurance industry.

Despite these challenges, TQM maintained steady growth throughout 2024. We recorded total revenue of Baht 3,991.3 million, reflecting a 6.2% increase, with a net profit of Baht 861.9 million, marking a 0.3% growth. Our net profit margin remained strong at 21.6%. Furthermore, we delivered outstanding returns within the industry, achieving a return on assets (ROA) of 15.4% and a return on equity (ROE) of 25.6%.

As we step into our 71^st year, TQM remains committed to strengthening its foundation and progressing toward our vision of becoming a 100-year sustainable organization. To advance with confidence, we must continue adapting to the evolving world, diverse consumer behaviors, and rapid technological advancements. We recognize that relying solely on traditional approaches is no longer sufficient. Instead, embracing new ideas and fostering innovation will enable us to stay ahead of change.

These transformations underscore the significance of collaboration across multiple generations within our organization. The diverse expertise and perspectives of our people allow us to develop innovative products and services that cater to a broad customer base. Our comprehensive offerings span insurance, financial services, and technology platforms, ensuring that we remain at the forefront of the industry.

We believe that "adaptability" is the key to sustainability. A truly enduring organization is not one that focuses solely on maximizing profits but one that continuously learns, grows, and evolves. That is why we place great emphasis on talent development, fostering an open and flexible mindset that embraces change as an opportunity for growth.

However, sustainability is not measured solely by financial performance - it also reflects the value an organization creates for society. We remained committed to conducting our business in a way that benefits our customers, partners, and communities while upholding principles of environmental, social, and corporate governance (ESG). In 2024, TQM was once again recognized with a five-star rating (Excellent CG Scoring) in the Corporate Governance Report of Thai Listed Companies (CGR) for the fifth consecutive year. Additionally, we were included in the SET ESG Ratings as one of Thailand’s sustainable stocks for 2024. Since 2020, we have also been a signatory to the Thai Private Sector Collective Action Against Corruption (CAC) and remain steadfast in our commitment to combating corruption in all its forms.

On behalf of the Chairman of the Board of Directors, the Chief Executive Officer, Management Team, and all employees of TQM Alpha Public Company Limited, I would like to extend my heartfelt gratitude to our shareholders, partners, customers, and all stakeholders for your continued trust and support. We remain committed to driving sustainable growth, enhancing financial security, and managing risks effectively to contribute to a better quality of life for the Thai people.