Year 2007

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REPORT OF THE COMPANY’S OPERATIONS Type of Business Bangkok Insurance Public Company Limited has been engaged in the non-life insurance business since 1947. The Company was listed on the Stock Exchange of Thailand in 1978, and was transformed into a public company under the Public Company Act on July 1, 1993, with a paid-up capital of Baht 200 million. Subsequently, the Company increased its paid-up capital three times in 2002, 2004 and 2006, to total Baht 507 million, consisting of stocks of 50.7 million shares valued at Baht 10 per share. Summary of Operating Performance for the Year 2007: Operation and Financial Status of the Company Based on the financial statements as at December 31, 2007, the total assets of the Company amounted to Baht 19,466.7 million, an increase of 7.0 percent over the Baht 18,193.6 million of the previous year. This was accompanied by a significant increase in assets, particularly investment capital in securities, of Baht 971.0 million in stock investment, and Baht 385.0 million in notes. Liabilities at 2007 year-end totaled Baht 5,792.9 million, a rise of Baht 396.1 million, or 7.3 percent, over 2006. A significant augmentation was the total unearned premium reserve of Baht 177.9 million or 7.8 percent, due to the higher premium written in 2007, compared to 2006. Similarly, loss reserves and outstanding claims increased by Baht 116.2 million or 11.8 percent, owing to increased motor claims, compared to 2006. Shareholders’ equity on December 31, 2007, equaled Baht 13,673.8 million, an increase from Baht 12,796.8 million, or 6.9 percent, in 2006. The rise was due mainly to the surplus on revaluation of investments of Baht 777.7 million, or 11.4 percent. For the year 2007, the premium written income for all classes of insurance increased by 3.1 percent to Baht 7,656.3 million. Miscellaneous insurance achieved the highest growth rate of 10.0 percent, compared to 2006. In 2007, the net underwriting profit, after deducting operating expenses, amounted to Baht 82.0 million, a decrease of Baht 104.0 million, or 55.9 percent, due to a rise in motor claims, compared to 2006. 22
The net investment income in 2007 was Baht 796.0 million, an increase of 27.5 percent compared to 2006. The Company’s total income before income tax deduction was Baht 878.0 million, a rise of 8.4 percent compared to 2006. After income tax deduction, the net income totaled Baht 707.7 million, an increase of 19.3 percent compared to 2006, or Baht 13.96 per share, compared to Baht 11.70 per share in 2006. The Board of Directors has approved a final dividend payment of Baht 3.75 per share for the year 2007. Nevertheless, during the past three quarters, the Company has already made three interim dividend payments of Baht 2.75 per share. Therefore, the total dividend payment for the year 2007 was Baht 12 per share, as compared to Baht 12 per share in 2006. Operating Performance by Classes of Business for the Year 2007 Fire Insurance In 2007, the Company registered Baht 1,314.3 million in written fire insurance premium, an increase of 2.8 percent as compared to 0.5 percent in the previous year. The negative factor impacting the slow rise in fire insurance was a highly competitive market, a replacement by customers of fire insurance policies with all risks policies, and a decrease in premium written from the inward treaty as the reinsurance companies had increased their capacity for retention. On the other hand, the positive factor that enabled written fire insurance premium to grow was a rise in premium written from personal customers, who achieved a rather high growth rate, particularly in the provincial areas, due mainly to a rise in housing credits of financial institutions, which assigned the insurance affair to the Company. The net premium written amounted to Baht 985.5 million, an increase of 2.9 percent, since the Company took more retention, compared to 2006. The loss ratio in 2007 was 46.4 percent, compared to 40.0 percent the year before. This was due to losses brought about by a number of fire incidents, each with high-loss amounts. The Company’s underwriting profit thus decreased by 1.3 percent to Baht 121.6 million, compared to 2006. 23
Page 3 and 4: CONTENTS FINANCIAL HIGHLIGHTS MESSA
Page 5 and 6: 2007 2006 Change 2007 For The Year
Page 7 and 8: The year 2008, therefore, is anothe
Page 9 and 10: In 2007, the Company developed a nu
Page 11 and 12: Marketing and Competition in 2007 F
Page 13 and 14: Nevertheless, there are still many
Page 15 and 16: 2. Underwriting Risks Thailand has
Page 17 and 18: 6.2 Interest Rate Risk As at Decemb
Page 19 and 20: Active Care Uniform Care Service Un
Page 21: (Baht : million) 2007 2006 Change N
Page 25 and 26: to industrial all risks insurance.
Page 27 and 28: Investments in non-listed securitie
Page 29 and 30: INVESTMENTS IN SECURITIES Investmen
Page 31: THREE YEARS REVIEW (Baht’000) 200
Page 34 and 35: BOARD OF DIRECTORS AND BOARD OF DIR
Page 36 and 37: Mr. Suvarn Thansathit Independent D
Page 38 and 39: MANAGEMENT COMMITTEE AND MANAGEMENT
Page 40 and 41: Miss Pagamas Charusathien Senior Vi
Page 42 and 43: Mr. Boonkird Chirapathama Senior Vi
Page 44 and 45: FIRST VICE PRESIDENT AND VICE PRESI
Page 46 and 47: ASSISTANT VICE PRESIDENT 1. Mr. Cha
Page 48 and 49: SOCIAL ACTIVITIES IN 2007 Continuin
Page 50 and 51: Scholarship Grants to Poor Students
Page 52 and 53: REPORT OF THE AUDIT COMMITTEE The B
Page 54 and 55: REPORT ON THE BOARD OF DIRECTOR’S
Page 56 and 57: BALANCE SHEETS As at December 31, 2
Page 58 and 59: INCOME STATEMENTS Financial stateme
Page 60 and 61: INCOME STATEMENTS Separate financia
Page 62 and 63: STATEMENTS OF CHANGES IN SHAREHOLDE
Page 64 and 65: STATEMENTS OF CASH FLOWS For the ye
Page 66 and 67: 4. Significant Accounting Policies
Page 68 and 69: 4.9 Unearned premium reserve Unearn
Page 70 and 71: Investments in debt securities as a
Page 72 and 73:
7.2 Summarised financial informatio
Page 74 and 75:
(Baht’000) 2007 2006 Investments
Page 76 and 77:
12. Intangible Assets (Baht’000)
Page 78 and 79:
18. Basic Earnings Per Share Basic
Page 80 and 81:
Foreign Currency Risk The Company
Page 82 and 83:
Debtors, overdue under 3 months, fo
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FINANCIAL RATIO 2007 2006 2005 Fina
Page 86 and 87:
SHAREHOLDING IN OTHER COMPANIES Inv
Page 88 and 89:
THE MANAGEMENT Management Structure
Page 90 and 91:
Name Position No. Of Attendance/ An
Page 92 and 93:
The Management Committee is made up
Page 94 and 95:
SHAREHOLDINGS STRUCTURE Breakdown o
Page 96 and 97:
Shareholding of Management Committe
Page 98 and 99:
PRINCIPLES OF GOOD CORPORATE GOVERN
Page 100 and 101:
For every shareholder’s meeting,
Page 102 and 103:
Customers The Company offers variou
Page 104 and 105:
4.3 Role and Duty Performance of th
Page 106 and 107:
(4) The Company’s Secretary The C
Page 108 and 109:
- The Use of Insider Information In
Page 110 and 111:
5.5 Procedure on the Determination
Page 112 and 113:
North Eastern Region: Khon Kaen 345
Page 114:
LINES OF BUSINESS Fire & Allied Lin
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Year 2007

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