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TIDLOR Announces Organizational Restructuring into a Holding Company

30 April 2024
TIDLOR Announces Organizational Restructuring into a Holding Company
Piyasak Ukritnukun, Managing Director of Ngern Tid Lor Public Company Limited (TIDLOR), stated that the company’s Board of Directors meeting, on April 30, 2024, resolved to propose that the shareholders’ meeting consider and approve the Company’s shareholding and management restructuring plan by establishing a holdings company under the name Tidlor Holdings Public Company Limited (Tidlor Holdings). The objective is to enhance operational flexibility in both the lending and insurance brokerage businesses, increase competitive advantages, and expand opportunities into related businesses. Additionally, it will create more opportunities for strategic partnerships through mergers or joint investments, significantly bolstering the strength of the group.

This restructuring will also enable more efficient management and risk limitation across different business units. Moreover, the company plans to establish a new company (NewCo) under Tidlor Holdings to improve flexibility in strategy formulation, management, and operations related to non-life InsurTech insurance brokerage business (InsurTech Platform). This restructuring plan represents a strategic realignment to facilitate long-term growth.

The company's insurance brokerage business under the brand "Shield Insurance" (rebranded from TIDLOR Insurance Broker) has become the number one provider of face-to-face consultation and sales, boasting a team of over 5,000 experts delivering services through more than 1,700 branches nationwide. Additionally, the introduction of the online insurance marketplace platform (Areegator) has empowered independent brokers with access to professional sales management systems, while the online insurance brokerage platform (heygoody) has been developed to cater to the comparison and selection of insurance online for individual customers, eliminating the need for telesales.

The sustained success of insurance brokerage business is built on more than a decade of continuous investment, development and implementation of insurance technology. This dedication has established a solid foundation for the insurance brokerage operations and also ensure ongoing enhancement to support and drive our business activities, both now and into the future The company will schedule an electronic Extraordinary General Meeting of Shareholders (e-EGM) on June 11, 2024, to deliberate on the approval of the aforementioned matter.

Shareholders can access additional information at www.tidlorinvestor.com to collaboratively contribute to the growth of the group. For those interested in exploring additional information about the company's products and services, please visit www.tidlor.com, Facebook Page เงินติดล้อ.

Source: Bangkok Post

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