We aim to be the most preferred non-life insurer in Thailand
We aim to be the most preferred non-life insurer in Thailand
We aim to be the most preferred non-life insurer in Thailand
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Dur<strong>in</strong>g <strong>the</strong> years, <strong>the</strong> Company had significant bus<strong>in</strong>ess transactions with its related parties. Such transactions, which<br />
have <strong>be</strong>en concluded on commercial terms and bases agreed upon <strong>in</strong> <strong>the</strong> ord<strong>in</strong>ary course bus<strong>in</strong>ess <strong>be</strong>tween <strong>the</strong> Company and<br />
those parties are as follows:<br />
(Baht’000)<br />
2009 2008 Pric<strong>in</strong>g Policy<br />
Premium Written 212,957 115,934 Normal commercial terms for underwrit<strong>in</strong>g<br />
Interest Income 13,382 15,568 Same as f<strong>in</strong>ancial <strong>in</strong>stitutions and related companies<br />
offer <strong>to</strong> o<strong>the</strong>r cus<strong>to</strong>mers<br />
Dividend Income 232,525 282,556 The declared amount<br />
Premium Ceded 173,601 216,775 Normal commercial terms for re<strong>in</strong>surance depend<strong>in</strong>g<br />
on type of <strong>in</strong>surance and re<strong>in</strong>surance contract<br />
Interest Expenses - 102 Same as f<strong>in</strong>ancial <strong>in</strong>stitutions and related companies<br />
offer <strong>to</strong> o<strong>the</strong>r cus<strong>to</strong>mers<br />
Rental Income 70 - Same offer <strong>to</strong> o<strong>the</strong>r cus<strong>to</strong>mers<br />
Lended Securities Income 1,105 53 Same as f<strong>in</strong>ancial <strong>in</strong>stitutions and related companies<br />
offer <strong>to</strong> o<strong>the</strong>r cus<strong>to</strong>mers<br />
The Company had <strong>the</strong> follow<strong>in</strong>g significant balances of assets and liabilities with its related companies.<br />
(Baht’000)<br />
2009 2008<br />
Cost Fair Value Cost Fair Value<br />
Investments <strong>in</strong> Listed S<strong>to</strong>cks<br />
Bangkok Bank Pcl. 1,419,764 4,090,089 1,421,596 2,446,880<br />
Bangkok Life Assurance Pcl. 211,575 1,093,794 - -<br />
Charoong Thai Wire and Cable Pcl. 165,958 134,981 159,799 88,896<br />
Furukawa Metal (<strong>Thailand</strong>) Pcl. 100,204 53,595 98,626 57,402<br />
Thai Re<strong>in</strong>surance Pcl. 90,490 248,169 93,226 237,649<br />
Bumrungrad Hospital Pcl. 377,347 2,836,670 370,028 2,018,094<br />
2,365,338 8,457,298 2,143,275 4,848,921<br />
78