Year 2007

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7.2 Summarised financial information of associates (Million Baht) Company’s Name Total Assets as at Total Liabilities as at Total Revenues Net Income December 31 December 31 for the Year Ended for the Year Ended December 31 December 31 2007 2006 2007 2006 2007 2006 2007 2006 Investments in Associated Companies Asia Insurance (Cambodia) Plc. 317.37 222.22 149.35 66.18 21.53 19.09 21.04 19.22 Asian Insurance International (Holding) Limited 227.97 225.94 - - 17.04 12.27 16.62 11.82 Asia Insurance (Investments) Limited - 269.63 - - - 12.26 - 12.25 Total 545.34 717.79 149.35 66.18 38.57 43.62 37.66 43.29 During the third quarter of 2007, the Company sold an investment in Asia Insurance (Investments) Limited, and as a result such company is no longer an associated company. The Company has reclassified the investment in that company as investment in other security. As at December 31, 2007, the values of the Company’s investments in associated companies were determined under the equity method (in the financial statements in which the equity method is applied), based on the financial information provided by the associated companies’ management. The information had not been audited by external auditors. 8. Related Party Transactions Related parties means parties that directly or indirectly control, are controlled by, or are under common control with the Company. This includes associated companies and enterprises which have individuals who hold, directly or indirectly, an interest in the voting rights which gives them significant influence over the Company, as well as key management personnel, directors and members of the immediate family of any such individual. In considering each possible related party relationship, attention is directed to the substance of the relationship, and not merely the legal form. The relationship between the Company and its related parties are summarized below: Name of Related Parties Type of Business Relationship with the Company Bangkok Bank Pcl. Banking Related by way of common directors and shareholding Charoong Thai Wire and Cable Pcl. Electrical Products Related by way of common directors and shareholding Furukawa Metal (Thailand) Pcl. Electrical Products Related by way of common directors and shareholding Thai Reinsurance Pcl. Insurance Related by way of common directors and shareholding Bumrungrad Hospital Pcl. Health Care Services Related by way of common directors and shareholding Bangkok Life Assurance Co., Ltd. Life Insurance Related by way of common directors and shareholding Bangkok Glass Co., Ltd. Packaging Related by way of common directors and shareholding Sorachai Vivatn Co., Ltd. Property Development Related by way of common directors and shareholding EMCS Thai Co., Ltd. Professional Services Related by way of common directors and shareholding Bang Pa-In Golf Co., Ltd. Entertainment & Recreation Related by way of common directors and shareholding AIOI Bangkok Insurance Co., Ltd. Non-life Insurance Related by way of common directors and shareholding Asia Insurance (Investments) Limited Holding Company Related by way of shareholding Asia Insurance (Cambodia) Plc. Non-life Insurance Associated company Asian Insurance International (Holding) Limited Holding Company Associated company 72
Investments in equity securities of Union Plastic Pcl. were related party transactions by way of common directors and shareholding. In this year, the Company did not have such a relationship with that company and so there is no presentation of the outstanding balance as at December 31, 2007. During the years, the Company had significant business transactions with its related parties. Such transactions, which have been concluded on commercial terms and bases agreed upon in the ordinary course business between the Company and those parties are as follows: (Baht’000) 2007 2006 Pricing Policy Premium Written 102,356 93,121 Normal commercial terms for underwriting Interest Income 19,782 17,967 Same as financial institutions and related companies offer to other customers Dividend Income 234,924 205,970 The declared amount Premium Ceded 232,220 253,936 Normal commercial terms for reinsurance depending on type of insurance and reinsurance contract Interest Expenses 77 12 Same as financial institutions and related companies offer to other customers The Company had the following significant balances of assets and liabilities with its related companies: (Baht’000) 2007 2006 Cost Fair Value Cost Fair Value Investments in Securities - Stock Bangkok Bank Pcl. 1,418,040 4,178,619 1,418,040 3,859,911 Charoong Thai Wire and Cable Pcl. 158,707 175,456 156,376 212,912 Furukawa Metal (Thailand) Pcl. 83,935 75,829 82,818 104,136 Thai Reinsurance Pcl. 85,226 284,861 88,261 253,503 Bumrungrad Hospital Pcl. 358,405 3,856,614 361,732 3,562,597 Bangkok Life Assurance Co., Ltd. 49,575 49,575 49,575 49,575 Bangkok Glass Co., Ltd. 39,726 39,726 39,726 39,726 Sorachai Vivatn Co., Ltd. 40,500 11,867 40,500 8,100 EMCS Thai Co., Ltd. 7,733 7,733 7,733 7,733 Bang Pa-In Golf Co., Ltd. 20,000 19,286 20,000 20,000 AIOI Bangkok Insurance Co., Ltd. 3,336 3,336 2,936 2,936 Asia Insurance (Investments) Limited 47,058 47,058 - - 2,312,241 8,749,960 2,267,697 8,121,129 73
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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
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2. Underwriting Risks Thailand has
Page 17 and 18:
6.2 Interest Rate Risk As at Decemb
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Active Care Uniform Care Service Un
Page 21 and 22: (Baht : million) 2007 2006 Change N
Page 23 and 24: The net investment income in 2007 w
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 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
Page 84 and 85: 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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