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

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Customers The Company offers various quality insurance products according to international standards, providing suitable coverage at a reasonable price, and indemnification made on a fair basis. In addition, customers will be fully advised about the nature of these products, while the Company has specifically established a work unit to receive their complaints and comments. Business Partners The Company treats its business partners fairly in evaluating their performance. These business partners will be given opportunities to comment and propose suggestions concerning any and all joint business issues. To ensure that the rights of business partners are protected, the Company will treat business partners’ secrets as strictly confidential. Competitors While maintaining its accepted professional business standards based on the rules and code of corporate conduct, the Company intends to maintain its position in the market and compete effectively, while refraining from damaging the reputation of any business competitor for its own benefit. The Company emphasizes the quality and efficiency of its services, stressing the greatest benefit to our customers and the standing of the insurance industry as a whole. Creditors The Company is strongly committed to an honest practice and will therefore follow all agreed conditions with its creditors, or find suitable solutions to their mutual benefit. Society and Environment The Company realizes its responsibilities to society and the preservation of the environment. As a consequence, it has supported many activities that benefit the community, such as the development of society through employing disabled labour. It also provides support and assistance to communities jointly with other agencies both in the government and the private sector. For instance, the Company’s management has offered a mobile medical service to treat people in poverty-stricken areas, granted scholarships to poor students, as well as established a fund for the rehabilitation of historical sites, the promotion of careers among community people for their sustainable livelihood, and the preservation of natural resources and development of the environment under the “Unplug” project. All activities and projects have been continuously implemented and effectively carried out. Details of activities performed in 2009 can be viewed on the Company’s website at www.bangkokinsurance.com. 4. Data Disclosure and Transparency The Company’s Board has a policy for the Company to disclose both its financial and non-financial data, as defined by the SEC and SET. Of course, data disclosure focuses on transparency, accuracy, completeness and timelessness, through the channels of the SET, as well as the Company’s annual report and the annual report presentation form (Form 56-1). Additionally, the data is disclosed both in Thai and English via the Company’s website, and always updated for reliability and easy and equal access by shareholders and other related persons. The following is a summary of the significant disclosed data. 112
4.1 Policy on Corporate Governance and Its Implementation Consequences Throughout 2009, the Company performed in accordance with its policy on good corporate governance, except for the following issues. (1) The Company’s Chairman is also its President, who is not an independent director since the non-life insurance industry strongly needs a knowledgeable and capable person with long business experience to lead the Company to its established goals. Nonetheless, the Company and its Board of Directors is based on the principles of good corporate governance and in line with those of the SET. Therefore, though the Chairman and President is the same person, in practice, the Chairman of the Board will not exercise his authority on behalf of the Board of Directors, all under the Company’s rules and regulations. Similarly, the President’s performance must be approved by the Company’s management and the Board of Directors, comprising independent members, who make up more than half of the Board, giving rise to a concise and transparent checks-and-balance mechanism of the performance. Furthermore, any authorization given to the President will not allow him to approve any transaction in which he is involved as a stakeholder, or which may engender a conflict of interest with the Company, subsidiary companies or associated companies. Likewise, the Company has changed its President from Mr. Chai Sophonpanich to Mr. Panus Thiravanitkul, effective from January 1, 2010, representing the beginning of separating the position of the Company’s Chairman of the Board of Directors from its President so that it increasingly goes in accordance with the principle of sound practice. (2) The Company does not limit the number of companies in which its Board and senior management may hold office because it is afraid that it will lose an opportunity of getting quality people to sit on the Board. However, it constantly reviews the number of companies in which each Board member holds office. 4.2 Remuneration for Directors and Management 4.2.1 Remuneration in the form of money In 2009, the Company paid the Board’s meeting allowance to the Board directors, amounting to Baht 6,367,500. Details of remuneration criteria are given below. The Board of Directors Annual Remuneration (Baht/Person) Payment made each quarter (Baht/Person) The Board Directors 500,000 125,000 The Audit Committee members 250,000 62,500 The Remuneration and Nomination Committee members 60,000 - As at December 31, 2009, the Company’s executive directors and the first four executive members comprised 14 members, who were paid a total remuneration of Baht 64,041,300 consisting of salary, bonus, as well as motor and telephone expenses. 4.2.2 Other remuneration (If any) As at December 31, 2009, other remuneration, such as providence fund and a pension for those who retired, totaling Baht 9,074,700 was paid to 14 Company executive directors and the first four executive members. 113
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Bangkok Insurance aims to be the mo
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CONTENTS VISION 2 FINANCIAL HIGHLIG
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We aim to be the most preferred non
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The year 2009 was, therefore, anoth
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In addition, the Company was still
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As a consequence, it is anticipated
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6.2 Interest Rate Risk The Company
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Increase Convenience for Premium Pa
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REPORT OF THE COMPANYûS OPERATIONS
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The net investment income in 2009 w
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Goals of Business Transactions For
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INVESTMENTS IN SECURITIES Investmen
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FIVE YEARS REVIEW (Baht’000) 2009
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Mr. Chatri Sophonpanich Chairman Mr
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Miss Potjanee Thanavaranit Independ
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Mr. Witcha Damrongsinsak Director M
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1. Mrs. Srichittra Pramojaney 2. Mr
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Miss Pagamas Charusathien Senior Vi
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Mr. Sontaya Chaichomlert Senior Vic
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Bangkok Insurance, Your Caring Part
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1. Mr. Anant Pongpoon 2. Ms. Anchan
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1. Mr. Alonggorn Gradtip 2. Mr. Ana
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Bangkok Insurance Public Company Li
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Public Health Relief of Public Disa
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3. Checking to Prevent a Conflict o
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To the Shareholders of Bangkok Insu
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(Baht’000) Financial Statements i
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Page 89 and 90: FINANCIAL RATIO Financial Ratio 200
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Page 119 and 120: 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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