BKI posts B3.58bn first quarter loss

SET-listed Bangkok Insurance (BKI) reported a net loss of 3.58 billion baht for the first quarter, down 539% from a net profit of 816 million last year, after being hit by surging Covid claims.

The firm’s earnings per share (EPS) dropped to -33.63 baht from last year when EPS was 7.67 baht.

Apisit Anantanatarat, chief executive and president, said the spike in net claims from Covid insurance was the main reason for the decline of the company’s first-quarter operating results.

He said the loss from insurance business amounted to 5.16 billion baht in the first quarter, a dramatic increase from 443 million baht in the same period last year, while profits from insurance dropped by 5.6 billion baht or 1,265% from last year.

However, the company has reportedly secured sufficient earnings to pay the interim dividend of 3.50 baht per share in an effort to regain investor…