- Ngern Tid Lor Public Company Limited (TIDLOR) announced a significant organisational restructuring, establishing a holding company named Tidlor Holdings Public Company Limited.
- This move aims to enhance operational flexibility, competitiveness, and expansion opportunities, particularly in the lending and insurance brokerage sectors.
- Additionally, TIDLOR plans to create a new entity under Tidlor Holdings to focus on non-life InsurTech insurance brokerage business, aligning with its strategic vision for long-term growth.
In a recent announcement, Piyasak Ukritnukun, the Managing Director of Ngern Tid Lor Public Company Limited (TIDLOR), disclosed that during the company’s Board of Directors meeting on April 30, 2024, a resolution was passed to propose a comprehensive shareholding and management restructuring plan. This initiative involves the establishment of a holdings company named Tidlor Holdings Public Company Limited (Tidlor Holdings).
The primary objective behind this proposal is to augment operational flexibility within both the lending and insurance brokerage sectors, aiming to amplify competitive advantages and explore opportunities in related businesses. Moreover, it seeks to foster strategic partnerships through potential mergers or joint investments, thus bolstering the group’s overall strength. The restructuring endeavour also endeavours to streamline management processes and mitigate risks across various business units.
NewCo focus on enhancing flexibility in strategy development
Additionally, plans are underway to introduce a new entity, referred to as NewCo, under Tidlor Holdings, with a focus on enhancing flexibility in strategy development, management, and operations pertaining to non-life InsurTech insurance brokerage business, commonly referred to as the InsurTech Platform. This strategic realignment underscores the company’s commitment to facilitating long-term growth and sustainability.
Furthermore, the company’s insurance brokerage arm, now operating under the brand “Shield Insurance” following a rebranding from TIDLOR Insurance Broker, has emerged as the premier provider of face-to-face consultation and sales services. With a workforce exceeding 5,000 professionals, spread across more than 1,700 branches nationwide, Shield Insurance has solidified its position in the market. The introduction of innovative online insurance platforms such as Areegator has empowered independent brokers by granting access to sophisticated sales management systems.
Enhance the company’s insurance brokerage operations
Similarly, the online insurance brokerage platform, heygoody, caters to the needs of individual customers, facilitating seamless comparison and selection of insurance policies online, thus eliminating the necessity for traditional telesales approaches. This sustained success within the insurance brokerage domain is underpinned by over a decade of relentless investment, development, and implementation of cutting-edge insurance technology. Such dedication has laid a robust foundation for the company’s insurance brokerage operations, ensuring a continual enhancement to support and propel its business endeavours both presently and in the future.
As part of the restructuring process, the company has scheduled an electronic Extraordinary General Meeting of Shareholders (e-EGM) for June 11, 2024. This meeting will deliberate on the approval of the proposed restructuring plan.
About TIDLOR
With over three decades of lending experience, Ngern Tid Lor Public Company Limited (“NTL”) has emerged as a leader in the microcredit sector, offering accessible financial solutions to over 1,000,000 recipients. Serving self-employed microentrepreneurs with limited credit history, NTL provides reliable cash loans through its extensive branch network nationwide, supported by its affiliation with Bank of Ayudhya Public Company Limited (Krungsri) and strategic investors like CVC Capital Partners and 9 Basil. As a listed company on the Stock Exchange of Thailand since 2021, NTL remains committed to enhancing financial inclusion and driving economic development in Thailand.
