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

The Company’s Direct Premium Growth Rate Compared to the Market over the Past 3 Years
(Baht : Million)
2009 2008 2007
(Preliminary)
(Before Improvement)
(Before Improvement)
Bangkok Insurance Public Company Limited
Premium Written 7,830.6 6,856.3 6,727.5
Growth Rate (%) 14.2 1.9 2.5
Non-Life Insurance Market
Premium Written 109,845.4 106,238.5 100,815.7
Growth Rate (%) 3.4 5.4 5.8
Note : Data in 2008 and 2009 is OIC’s preliminary data as at February 12, 2010.
The Company’s Market Share over the Past 3 Years
Types of Insurance Order 2009 Order 2008 Order 2007
% (Preliminary) % %
(Before Improvement)
(Before Improvement)
Fire 1 13.9 1 12.3 1 12.2
Marine 3 8.0 3 7.5 3 7.6
Motor 5 4.9 5 4.6 3 5.4
Miscellaneous 2 9.9 3 8.7 3 8.0
Total 3 7.1 3 6.5 3 6.7
Note : Data in 2008 and 2009 is OIC’s preliminary data as at February 12, 2010.
Industry Outlook and Competition in 2010
Owing to the gradual economic recovery in late 2009, it is anticipated that both the private and government sectors’
spending and investment based on the government’s investment plans under the Thai Khemkhaeng stimulus package (2010-2012),
coupled with projected positive growth of imports and exports, will lead to the public’s improved employment and purchasing
power, resulting in an expansion of the non-life insurance industry that corresponds with the economic situation.
For motor insurance, a slight growth rate between 4.5 - 6.0 percent is projected despite the fact that total motor sales
improved in the final quarter of 2009 and are expected to achieve positive growth, between 7.0 - 10.0 percent, in 2010.
Nevertheless, thanks to the maintaining of high level of oil prices, apart from the impact of the enforcement of the OIC’s requirements
on “Cash Before Cover” criteria, and a diminishing trend of voluntary motor insurance’s premium rate (expected to become
effective in the third quarter of 2010), people will still be cautious in their spending and chose to spend only on necessary goods.
With regard to the trend of the non-motor insurance market, it is anticipated that personal accident insurance and health
insurance will achieve a high growth rate due to the rising occurrence of accidents or sickness, including the rising frequency of
natural disasters. In addition, health insurance is likely to derive some benefits from a proposal to amend the royal decree on
“Welfare Money Related to Medical Treatment”, B.E. 2553 which will provide an opportunity for the insured to utilize their privileges
from both an insurance company and the government sector. It has been projected that this will help the health insurance market
to achieve a tremendous growth rate. Similarly for liability insurance, trade credit insurance and legal liability insurance from
unsafe products, they appear promising markets of growth since there are a large number of entrepreneurs who have to comply
with an act on the legal liability for damage stemming from unsafe products, B.E. 2551. Concerning negative factors, they include
a reduction in fire premium rate from 5.0 - 20.0 percent for risks other than residences, for policies which start their coverage in 2010,
which will affect the overall amount of fire premium.
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