TQM reported a net profit of 185 million baht for the second quarter of 2026, up 8.0% from the same period a year earlier but down 9.2% from the previous quarter. Total revenue came to 977 million baht, up 1.5% year on year and down 4.0% quarter on quarter on seasonal factors. Gross written premiums grew 5.4% year on year, driven by a 4.1% rise in non-life insurance, 3.5% in auto insurance and 20.6% in life insurance. Health insurance stood out with growth of 181%, reflecting rising demand to manage medical cost risk. Earnings quality and profitability improved, with the auto insurance renewal rate rising to 77% from an average of 74.8% in 2025, and the share of electric vehicle insurance premiums increasing to 6.9% from 4.7% in the first quarter. Administrative expenses fell 5.7%, lifting the net profit margin to 19.0% from 17.8% in the second quarter of 2025, while the margin before interest, tax, depreciation and amortisation stood at 28.2%. The Easy Lending business continued to show strong asset quality, with non-performing loans at a low level of just 0.28% to 0.30%. For the third quarter of 2026, the company expects a continued recovery ahead of the high season in the fourth quarter, supported by the recovery in auto insurance, growth in health and life insurance, and the addition of home insurance products. The company also plans to expand sales channels through social platform and social commerce partners to grow its new customer base. TQM targets core business revenue of 4.19 billion baht in 2026 and total revenue of 4.21 billion baht, an increase of about 6.6% year on year. Key factors for the rest of the year include maintaining a high auto insurance renewal rate, the recovery of auto insurance premiums, expansion of the electric vehicle and health insurance portfolios, and the launch of an AI Sales Copilot system in the fourth quarter of 2026, which aims to raise the sales closing rate by about 1% to 2% and lift sales productivity from the current level of roughly 1.57 to 1.60 million baht per salesperson per year. The full-year positive impact is expected from 2027 onward.
TQM Corporation Public Company LimitedTQM reported 2Q26 net profit of 185 million baht, up 8.0% YoY, with improved margins and lower admin expenses.
