Press Releases
Thai Life Insurance reported a record-high net profit of 11,682 million Baht, a 20.4% increase from the previous year. This growth was driven by a resilient insurance profit and robust investment profit growth. The Value of New Business (VONB) registered at 7,336 million Baht, with a solid VONB margin of 60.8%. Embedded Value (EV) recorded a robust growth of 12.6% to 180,773 million Baht or equivalent to 15.8 Baht per share. The Company’s Board of Directors approved a dividend payment of 0.5 Baht per share.
Mr. Chai Chaiyawan, Director and Chief Executive Officer of Thai Life Insurance Public Company Limited, or TLI, announced the Company's financial performance for 2024, highlighting a net profit of 11,682 million Baht, an increase of 20.4% from the previous year. Insurance profit remained stable compared to 2023 despite experiencing higher medical claims. This reflects the effectiveness of our product strategy in delivering high-value and protection-oriented products, ensuring the sustainability of our insurance profit.
Meanwhile, Thai Life reported a surge in the investment profit of 119.7% due to a favorable foreign stock market and an investment’s portfolio adjustment to align with the strategy and new accounting standard effective on 2025. The Company’s diversified investment portfolio is prudently allocated for sustainability. As of December 31, 2024, more than 80% of our total investment assets were invested in fixed income securities.
Value of New Business (VONB) for 2024 registered at 7,336 million Baht with a healthy VONB margin of 60.8%. The Company generated total gross written premium of 87,854 million Baht.
Driven by a sustainable operating return, our Embedded Value rose by 12.6% from last year to 180,773 million Baht at the end of December 2024. Our capital adequacy ratio stood at 619.4% as of December 31, 2024, much higher than the regulatory minimum of 140%. We treat a robust capital position as our foundation of sustainability.
On February 28, 2025, the Company’s Board of Directors approved a dividend payment of 0.5 Baht per share from the net profit of 2024. The dividend will be paid after obtaining approval from the shareholder’s Annual General Meeting and the Office of Insurance Commission (OIC).
Mr. Chai emphasized the Company’s commitment to continuously enhancing operational efficiency to drive growth and meet evolving consumer needs. In addition, the Company is significantly enhancing its services to deliver a seamless experience and services by leveraging digital technology to develop various innovations, such as Thai Life’s application. Customers can choose to receive an electronic policy (e-Policy) and an electronic insurance policy endorsement (e-Endorsement), making it more convenient to access and manage their own insurance policies.
In addition, customers can access online insurance premium payment services via automatic debit from their savings account or through mobile banking application. The Company has also introduced new features such as “Next Best Offer”, which allow customers to explore additional insurance policies to expand their coverage, and “My Wellness”, a preliminary health assessment tool that uses facial scanning technology, also known as Vital Scan.
Beyond enhancing after-sales services, the Company launched a digital platform "Live Bright, a smart assistant designed to help you find out what you want to do" by using Generative AI to develop information to inspiring the living, encouraging action, and supporting life planning in a personalized way. This will help empowering customers to enhance their lifestyles and the well-being of their loved ones in alignment with their expectations and needs.
“The Company’s vision is to be a value-driven life insurance company of sustainability that delivers value to all stakeholders. The Company placed significant emphasis on sustainable value between business and society, which includes environmental, social, and governance (ESG) dimensions. By setting a master plan for sustainable development and operational roadmap, Thai Life has gained recognition and achieved success, as evidenced by various awards, such as “The 1st Outstanding Management Life Insurance Company” award organized by the Office of Insurance Commission, “Best Corporate Insurance Company – Thailand 2024” award from The Global Economics Awards, “Most Innovative ESG Insurance Provider 2024” from International Finance Awards 2024 - United Kingdom, “Asia Responsible Enterprise Awards (AREA) 2024” in the Corporate Sustainability Reporting category from the Enterprise Asia Institute - Singapore. In addition, the Company achieved an “A” rating in the SET ESG Ratings 2024 as recognized by the Stock Exchange of Thailand,” Mr. Chai Chaiyawan mentioned.