TQM Corporation, a SET-listed insurance broker, has signed a contract to acquire a 51% stake in True Life Broker Co and True Extra Broker Co with a total investment of 266 million baht.
TQM turns to M&A strategy bangkokpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bangkokpost.com Daily Mail and Mail on Sunday newspapers.
1 Unchalin Punnipa, TQM s chairman and president (centre), and Mrs Napassanun Punnipa, the company s CEO (third from left), promote the small people product series.
TQM Corporation, the only SET-listed insurance broker, plans to penetrate the third-tier auto insurance market for vehicles that are more than 10 years old using the same concept as low-premium Covid insurance to tap into the market of 9.7 million uninsured old cars, says Unchalin Punnipa, TQM s chairman and president.
He said the company designed a product to help people undergoing economic hardships get through the situation with a campaign called Small People . People s purchasing power declined and they are limiting their spending. Demand for insurance remains, but customers are requesting lower prices or instalment payment plans, said Mr Unchalin.
TQM continues with aggressive growth strategy
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The broker has exceeded its own expectations, writes Darana Chudasri
published : 12 Dec 2020 at 04:00
TQM Corporation takes pride in always being prepared, which has paid off during the pandemic.
TQM is the only SET-listed holding company that has insurance brokerage services as its business core. Its market capitalisation is more than 35 billion baht, exceeding other insurance companies. Its growth has accelerated as demand increases for Covid-19 insurance and innovative products that earned the company 460 million baht in insurance premiums in the first half of 2020.
The company listed on the Stock Exchange of Thailand (SET) at the end of December 2018, with the IPO listing at 23 baht for 300 million shares. Its market capitalisation that day was 6.9 billion baht.