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

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16. Dividend Paid Dividend declared in 2009 and 2008 consist of the following: Approved by Total Dividend Dividend Per Share (Million Baht) (Baht) The Third Interim Dividend Meeting of Board of Directors 4/09 for 2009 on November 13, 2009 139.43 2.75 The Second Interim Dividend Meeting of Board of Directors 3/09 for 2009 on August 14, 2009 139.42 2.75 The First Interim Dividend Meeting of Board of Directors 2/09 for 2009 on May 15, 2009 139.42 2.75 Final Dividend Annual General Meeting of for 2008 the Shareholders No.16 on April 24, 2009 190.13 3.75 Total Dividend for the Year 2009 608.40 12.00 The Third Interim Dividend Meeting of Board of Directors 4/08 for 2008 on November 14, 2008 139.43 2.75 The Second Interim Dividend Meeting of Board of Directors 3/08 for 2008 on August 14, 2008 139.42 2.75 The First Interim Dividend Meeting of Board of Directors 2/08 for 2008 on May 14,2008 139.42 2.75 Final Dividend Annual General Meeting of for 2007 the Shareholders No.15 on April 25, 2008 190.13 3.75 Total Dividend for the Year 2008 608.40 12.00 17. Statutory Reserve Pursuant to Section 116 of the Public Limited Companies Act B.E. 2535, the Company is required to set aside to a statutory reserve at least 5% of its net income after deducting accumulated deficit brought forward (if any), until the reserve reaches 10% of the registered capital. The statutory reserve is not available for dividend distribution. 18. Provident Fund The Company and its employees jointly established a provident fund under the Provident Fund Act B.E. 2530. The fund is contributed to by both the employees and the Company on a monthly basis, at rates ranging from 5% to 10% of the employees’ basic salaries, based on the length of employment. The fund is managed by a fund manager which has been approved by the Ministry of Finance. During the year 2009, the Company contributed approximately Baht 34.6 million (2008: Baht 32.4 million) to the Fund. 19. Directors’ Remuneration Directors’ remuneration represents the benefits paid to the Company’s directors in accordance with Section 90 of the Public Limited Companies Act, exclusive of salaries and related benefits payable to executive directors. 82
20. Basic Earnings Per Share Basic earnings per share is calculated by dividing the net income for the year by the weighted average number of ordinary shares held by outside shareholders in issue during the year. 21. Commitments The Company has entered into several lease agreements in respect of the lease of land and office building space. The terms of the agreements are 30 years and 1 year for land and office building space, respectively. As at December 31, 2009 and 2008, future minimum lease payments required under those non-cancellable operating lease contracts were as follows. (Baht : Million) 2009 2008 Within 1 year 19 19 Over 1 year and not over 5 years 79 77 Over 5 years 217 238 22. Bank Guarantee As at December 31, 2009, there were outstanding bank guarantees of Baht 13.7 million (2008: Baht 7.8 million) issued by banks on behalf of the Company in respect of certain performance bonds as required in the normal course of business. 23. Contingent Liabilities As at December 31, 2009, the Company has been sued for damaged totaling approximately Baht 1,892.6 million (2008: Baht 2,410.8 million) as insurer. The total maximum sum insured per the relevant policies is Baht 776.7 million (2008: Baht 742.2 million). The outcomes of these causes have not yet been finalised but the Company has set aside reserves for its contingent losses amounting to approximately Baht 268.2 million (2008: Baht 252.2 million). 24. Financial Information by Segment The Company’s operations involve a single industry segment in non-life insurance and are carried on in the single geographic area in Thailand. As a result, all of the revenues, operating profits and assets as reflected in these financial statements pertain to the aforementioned industry segment and geographic area. 25. Financial Instruments 25.1 Financial risk management The Company’s financial instruments, as defined under Thai Accounting Standard No. 32 “Financial Instruments: Presentation”, principally comprise cash and deposit at financial institutions, premium receivable, amount due to/ due from reinsurer, loans and investments in securities. The financial risks associated with these financial instruments and how they are managed in described below. Credit Risk Concentrations of the credit risk with respect to premiums due and uncollected are insignificant due to the large number of customers comprising the customer base and their dispersion across different industries and geographic regions in Thailand. 83
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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
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: 12. Premium Due and Uncollected The
Page 85 and 86: 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
Page 99 and 100: Name Position No. of Attendance/ An
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Page 103 and 104: 1. The Board of Directors shall com
Page 105 and 106: SHAREHOLDINGS STRUCTURE Breakdown o
Page 107 and 108: 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
Page 115 and 116: 5. The Section on the Board of Dire
Page 117 and 118: 5.4 The Board of Directors’ Meeti
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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