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this counter seems to be back on track, their travel insurance is growing, motor claims look healthier, and profits are consistent again, nice to see 4 straight qtrs in the green ?
AirAsia said it carried over 63 million passengers with a load factor of 89% in the entire 2024. Let's see if tune managed to cross sell and increase revenue & margins
TUNEPRO, 5230) posted record high quarterly and improved annual profits in the fourth quarter and
full financial year 2024 (“4Q24”and “FY24”) respectively, boosted by the healthy growth in net
insurance service results and Profit After Tax (“PAT”) Year-on-Year (“YoY”). How Kim Lian (“How”),
Tune Protect Group’s Chief Executive Officer highlighted several factors that underpinned the
Group’s notable financial performance in 4Q24 and FY24.
Outstanding net insurance service result driven
The following are my questions and responses were given directly by the Head of IR:-
Actually I have 2 questions which are not forward lookings
1) Actually what has happened to Tunepro as the General Insurance revenue decreased from quarter to quarter? Any reason?
2) You informed me that 70 percents of the operations is from Leisure and Hospitality (Travel Insurance). The Travel Insurance sales majority come from which region? Asia Pacific or Middle East?
Responses:-
1) We are rationalising our portfolio. Wanting to exit low retention business with that being Commercial. Focus on 3 lines of business/pillars 1) Health 2) Lifestyle and 3) SME.
2) Mainly from Middle East as AirAsia took a hit from border closures while ME was one of the first markets to open.
Additionally, I conveyed the wish of a group of shareholders to the IR Head so that our voices would be heard and action be taken accordingly:-
Wish of shareholders from my group - DIVIDEND be proposed to reward shareholders since No Dividends have been distributed since year 2020.
