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

CONTENTS
VISION 2
FINANCIAL HIGHLIGHTS 5
MESSAGE FROM THE CHAIRMAN OF THE ADVISORY BOARD 6
MESSAGE FROM THE CHAIRMAN 8
THE THAI NON-LIFE INSURANCE INDUSTRY IN 2009 AND OUTLOOK FOR 2010 11
RISK FACTORS 15
MAJOR PROGRESS IN 2009 18
REPORT OF THE COMPANY’S OPERATIONS 21
INVESTMENT INCOME 27
INVESTMENTS IN SECURITIES 29
SUMMARY OF QUARTERLY FINANCIAL RESULTS 30
FIVE YEARS REVIEW 31
ADVISORY BOARD 33
BOARD OF DIRECTORS AND BOARD OF DIRECTORS PROFILE 34
MANAGEMENT COMMITTEE AND MANAGEMENT COMMITTEE PROFILE 38
SOCIAL ACTIVITIES IN 2009 50
REPORT OF THE AUDIT COMMITTEE 54
REPORT ON THE BOARD OF DIRECTOR’S RESPONSIBILITY FOR FINANCIAL STATEMENTS 56
REPORT OF INDEPENDENT AUDITOR 57
BALANCE SHEETS 58
INCOME STATEMENTS 60
STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY 64
STATEMENTS OF CASH FLOWS 68
NOTES TO FINANCIAL STATEMENTS 69
THE COMPANY’S FINANCIAL STATUS 86
FINANCIAL RATIO 89
RELATED PARTIES TRANSACTIONS 90
SHAREHOLDING IN OTHER COMPANIES 91
ORGANIZATION STRUCTURE 92
THE MANAGEMENT 93
SHAREHOLDINGS STRUCTURE 105
PRINCIPLES OF GOOD CORPORATE GOVERNANCE 108
GENERAL INFORMATION 119
LINES OF BUSINESS 122
3