Dear Shareholders,
Over the past year, the business sector has faced increasingly complex challenges arising from the global economic slowdown, rapid technological advancements, trade tensions, as well as heightened risks from geopolitical factors and more frequent and severe natural disasters. Amid such uncertainties, Dhipaya Group Holdings Public Company Limited (the “Company”) recognizes the critical importance of risk management and continues to conduct its business with prudence under strong corporate governance principles, in order to maintain organizational stability and resilience. At the same time, the Company has accelerated the adoption of technology and digital innovation as key drivers to enhance operational efficiency, strengthen proactive risk management, and develop products and services that meet the evolving needs of customers in the modern era. These efforts are aimed at enhancing competitiveness and supporting sustainable growth across the Group.
Mr. Somchainuk Engtrakul
The Company operates under a long-term strategic framework driven by the concept of “One Connected Group.” This approach seeks to align operations across all group companies, reduce process redundancies, and improve efficiency in all dimensions. Technology serves as the core backbone (Tech Backbone) to enhance competitiveness and enable exponential growth through synergy, thereby laying a strong foundation for a robust Insurance & Financial Ecosystem that is well-positioned to support future transformation and growth.
In parallel, the Company continues to pursue new investment opportunities, with a focus on businesses that can generate immediate returns while strengthening long-term growth potential. In 2025, a key milestone was the successful investment in Dhipaya Life Assurance Public Company Limited (“TIP Life”), marking the expansion into the life insurance sector as one of the Group’s core business pillars. TIP Life serves as the flagship company for the life insurance segment, complementing the non-life insurance business led by Dhipaya Insurance Public Company Limited (“TIP”), which already maintains strong leadership in its segment. TIP Life demonstrates strong potential to generate consistent income and returns, thereby enhancing value and strengthening the Company’s overall position as it advances toward becoming a leading insurance and financial group in the region with long-term sustainable growth.
For the year 2025, the Company reported a net profit of THB 1,003.6 million. TIP, as the Group’s core company, maintained its position as the No. 1 leader in non-motor insurance, with a market share of 18.8% and total gross written premiums of THB 32,259 million. This reflects the Company’s strength, customer trust, and its ability to continuously navigate industry challenges. TIP remains committed to its vision: “To be the No.1 Non-Life Insurance Leader.” Furthermore, following the Group’s restructuring into a holding company, improved financial management capabilities have led to enhanced performance. In 2025, the Company recognized additional profit contributions from insurance support businesses and other businesses amounting to THB 33.6 million, representing a significant growth of 34.8%. The Company also began recognizing its share of profit from TIP Life, as an associate, amounting to THB 102.5 million, in the consolidated financial statements during the third and fourth quarters.
In terms of financial strength, the Company maintained its corporate credit rating of “AA” with a “Stable” outlook from TRIS Rating, reflecting strong risk management capabilities and financial robustness. TIP, as the Group’s core business, continues to hold a “AAA” rating with a “Stable” outlook, the highest in the industry, for the fourth consecutive year from TRIS Rating. In addition, TIP received a financial strength rating of “A-” (Excellent) with a “Stable” outlook from A.M. Best for the seventh consecutive year, the highest among Thai non-life insurers. These recognitions affirm the Company’s stability, reliability, and readiness to stand alongside customers, shareholders, and stakeholders under all circumstances.
Under strong corporate governance principles, the Company has been awarded an “Excellent” CG Rating (5 Stars) by the Thai Institute of Directors (IOD) for the third consecutive year. The Company also achieved a full score of 100 from the Thai Investors Association (TIA) and was selected as one of the SET ESG Ratings “AA” companies in the financial sector by the Stock Exchange of Thailand. These achievements are a source of pride and reflect the Company’s commitment to all stakeholders through its adherence to Environmental, Social, and Governance (ESG) principles.
“The Company firmly believes that growth must go hand in hand with societal sustainability. We therefore remain committed to enhancing human capital, strengthening corporate governance, and contributing as a key force in building a resilient society through various public initiatives—ensuring that ‘our growth’ creates value for all stakeholders.”
Finally, on behalf of the Board of Directors and the management team, I would like to express my sincere gratitude to all stakeholders for your continued support, trust, and confidence in the Company and its group. I would also like to thank all employees for their dedication, commitment, and collective efforts, which have enabled the organization to overcome major challenges and achieve strong performance across all areas. The Company and its group will continue to innovate to meet evolving needs and deliver value to all stakeholders—including customers, partners, communities, society, shareholders, government agencies, and related parties—towards sustainable long-term growth. We sincerely hope for your continued trust and support as we move forward to become a leading regional insurance and financial group, delivering sustainable returns to shareholders and all stakeholders.