We aim to be the most preferred non-life insurer in Thailand

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BKI Care Station, Service Point to Meet Customersû Lifestyle
We aim to be the most preferred non-life insurer in Thailand We provide our customers with an added service channel through our BKI Care Station in shopping malls in order to respond to their demand for greater convenience, as well as to extend the companyûs reach to every single customer. THE THAI NON-LIFE INSURANCE INDUSTRY IN 2009 AND OUTLOOK FOR 2010 Marketing and Competition in 2009 In 2009, the overall Thai economy experienced a 2.3 percent negative growth rate, which directly impacted non-life insurance industry growth. A total direct written premium for the entire industry witnessed only a 3.4 percent growth rate, the lowest over the past ten years. Motor insurance, having a high market share of 60.0 percent, was the most affected, having a growth rate of only 2.0 percent, compared to 5.6 percent in 2008. Voluntary motor insurance, in particular, grew by 2.1 percent and 1.8 percent of Compulsory motor insurance, due to constant negative growth for total motor sales for the fourth consecutive year, with 10.8 percent negative growth in 2009. Motor markets for commercial vehicles had 17.9 percent negative growth (the highest over the past four years), while those for personal cars experienced only 1.4 percent growth, compared to 33.3 percent in 2008 (source: The Motor Industry Association). This was coupled with the fact that customers had become increasingly interested in buying their motor insurance policies at an economical price, such as the “3 Plus” and “2 Plus” policies. In 2009, the loss ratio incurred by motor insurance slightly increased to 57.0 percent, compared to 56.3 percent in 2008 although many non-life insurance companies gradually raised their Comprehensive motor insurance premium rate for cars of no more than 2,000 c.c. so that it was in accordance with rising business costs, both for those of spare parts and labour. In addition, a number of companies had issued new products to the market for personal accident insurance and health insurance in order to stimulate their sales due to a high market demand and higher frequency of accidents and malignant diseases. Meanwhile, there was a slowdown in new investment projects. During 2009, miscellaneous insurance that experienced over 20.0 percent growth included all risks insurance, engineering insurance, personal accident insurance and health insurance. In 2009, Bangkok Insurance Public Company Limited was no different from other non-life insurance companies affected by the economic crisis. Nevertheless, it had consistently adopted proactive strategies for personal line business over the past several years, coupled with continuously making advertisements and public relations campaigns via a myriad of media over the past 3-4 years, enabling consumers to know and remember more about the Company’s name. Besides, the Company issued such new products as “ Comprehensive Value Package” a Comprehensive motor insurance policy and “The Value Packages” insurance policy called, “4 - Classic Diseases” package, and “Salary Man” package, both of which satisfactorily attracted new customers. Due to the Company’s proactive strategies and new policies, the Company could, in 2009, expand over 30.0 percent of its personal customer market, with an increase of over 40.0 percent of new customers, mainly via the Telemarketing and Bancassurance channels. For its services, the Company has speeded up its development of and increase in the number of garages participating in the “Bangkok Insurance Recommended Garage” project and those fixing cars on contracts, both in Bangkok and upcountry, in order to provide convenience to its customers. Furthermore, the Company lends support to its business partners’ performance so that they are able to use the Company’s work system to carry out their underwriting work and issue policies with convenience and swiftness. Through the Company’s aforementioned operational strategies, its direct written premium in 2009 experienced higher growth than the defined target of 14.2 percent. The four main classes of insurance achieving a high growth rate included fire insurance, marine insurance, motor insurance and miscellaneous insurance, resulting in the Company’s rise in the overall market share from 6.5 percent in 2008 to 7.1 percent in 2009. 11
Page 1 and 2: Bangkok Insurance aims to be the mo
Page 3 and 4: CONTENTS VISION 2 FINANCIAL HIGHLIG
Page 5 and 6: We aim to be the most preferred non
Page 7 and 8: The year 2009 was, therefore, anoth
Page 9: In addition, the Company was still
Page 13 and 14: As a consequence, it is anticipated
Page 17 and 18: 6.2 Interest Rate Risk The Company
Page 19 and 20: Increase Convenience for Premium Pa
Page 21 and 22: REPORT OF THE COMPANYûS OPERATIONS
Page 23 and 24: The net investment income in 2009 w
Page 25 and 26: Goals of Business Transactions For
Page 29 and 30: INVESTMENTS IN SECURITIES Investmen
Page 31 and 32: FIVE YEARS REVIEW (Baht’000) 2009
Page 33 and 34: Mr. Chatri Sophonpanich Chairman Mr
Page 35 and 36: Miss Potjanee Thanavaranit Independ
Page 37 and 38: Mr. Witcha Damrongsinsak Director M
Page 39 and 40: 1. Mrs. Srichittra Pramojaney 2. Mr
Page 41 and 42: Miss Pagamas Charusathien Senior Vi
Page 43 and 44: Mr. Sontaya Chaichomlert Senior Vic
Page 45 and 46: Bangkok Insurance, Your Caring Part
Page 47 and 48: 1. Mr. Anant Pongpoon 2. Ms. Anchan
Page 49 and 50: 1. Mr. Alonggorn Gradtip 2. Mr. Ana
Page 51 and 52: Bangkok Insurance Public Company Li
Page 53 and 54: Public Health Relief of Public Disa
Page 55 and 56: 3. Checking to Prevent a Conflict o
Page 57 and 58: To the Shareholders of Bangkok Insu
Page 59 and 60: (Baht’000) Financial Statements i
Page 61 and 62:
(Baht’000) Motor Miscellaneous 20
Page 63 and 64:
(Baht’000) Motor Miscellaneous 20
Page 65 and 66:
(Baht’000) Surplus (Deficit) on R
Page 67 and 68:
(Baht’000) Surplus (Deficit) on R
Page 69 and 70:
For the years ended December 31, 20
Page 71 and 72:
4.4 Related party transactions Rela
Page 73 and 74:
5. Significant Accounting Judgments
Page 75 and 76:
Investments in debt securities as a
Page 77 and 78:
The Company received the 2008 finan
Page 79 and 80:
(Baht’000) 2009 2008 Investments
Page 81 and 82:
12. Premium Due and Uncollected The
Page 83 and 84:
20. Basic Earnings Per Share Basic
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Foreign Currency Risk The Company
Page 87 and 88:
Debtors, overdue under 3 months, fo
Page 89 and 90:
FINANCIAL RATIO Financial Ratio 200
Page 91 and 92:
SHAREHOLDING IN OTHER COMPANIES Inv
Page 93 and 94:
THE MANAGEMENT Management Structure
Page 95 and 96:
4. To consider a selection and prop
Page 97 and 98:
The Appointment of the Company’s
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Name Position No. of Attendance/ An
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Name of the Management Committee Po
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1. The Board of Directors shall com
Page 105 and 106:
SHAREHOLDINGS STRUCTURE Breakdown o
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Dividend Payment Policy Since it is
Page 109 and 110:
The Section on Consideration of Sta
Page 111 and 112:
As for the consequence of an implem
Page 113 and 114:
4.1 Policy on Corporate Governance
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5. The Section on the Board of Dire
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5.4 The Board of Directors’ Meeti
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GENERAL INFORMATION Name of Company
Page 121 and 122:
Motor Claims Service Center Krabi B
Page 124:
Bangkok Insurance Building 25 Satho
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We aim to be the most preferred non-life insurer in Thailand

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