Year 2007

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FINANCIAL RATIO 2007 2006 2005 Financial Ratio (Restated) Liquidity Ratio Current Ratio (Times) 0.54 0.51 0.54 Receivable Turnover (Days) 103.84 112.19 109.51 Profitability Ratio Retention Rate (%) 103.63 104.29 106.93 Loss Ratio (%) 57.17 55.63 52.82 Profit Margin (%) 12.72 13.92 16.50 Underwriting and Operation Expenses Ratio (%) 41.16 40.28 40.96 Return on Investment (%) 5.47 4.99 4.82 Net Premium Ratio (Times) 0.38 0.39 0.40 Net Profit Margin (%) 12.26 11.25 11.90 Return on Equity (%) 5.35 4.83 5.12 Efficiency Ratio Return on Assets (%) 3.76 3.40 3.60 Assets Turnover (Times) 0.31 0.30 0.30 Financial Ratio Debt to Equity Ratio (Times) 0.42 0.42 0.42 Policy Liability to Capital Fund (Times) 0.26 0.25 0.24 Equity/Net Premium Income (Times) 2.69 2.70 2.70 Equity/Net Outstanding Claims (Times) 12.45 13.03 15.58 Equity/Assets (Times) 0.70 0.70 0.71 Unearned Premium Reserve to Equity (Times) 0.18 0.18 0.18 Unearned Premium Reserve/Total Assets (%) 12.61 12.51 12.46 Payout Ratio * (%) 85.96 102.56 103.95 Per Share Par Value (Baht) 10.00 10.00 10.00 Book Value (Baht) 269.70 252.40 232.64 Basic Earnings ** (Baht) 13.96 11.70 11.10 Dividends (Baht) 12.00 12.00 12.00 Stock Dividends (Baht) - - 3.00 Growth Rate Premium Written (%) 3.08 7.04 11.54 Income on Underwriting (%) (2.14) (8.56) 15.21 Net Investment Income (%) 27.50 10.35 11.46 Income Before Income Tax (%) 8.36 (1.25) 2.31 Income Tax (%) (21.53) (15.85) 35.03 Net Income (%) 19.29 5.44 (7.92) Total Assets (%) 7.00 8.93 14.63 * Payout Ratio for the year 2005 is determined by dividing dividends by basic earnings per share before issue of stock dividend for the year 2005 (39.0 million shares) ** Basic earnings per share is determined by dividing net income for the period by the number of ordinary shares after the issue of stock dividends for the year 2005 (50.7 million shares) 84
RELATED PARTIES TRANSACTIONS Types of Related Parties Transactions A portion of the Company’s business deals with related parties, where the relationship may be by shareholding or by companies having the same group of shareholders or directors. In considering the relationship between individuals or enterprises, attention is directed to the substance of the relationship, and not merely to the legal form or the basis of commitments. Transactions are determined on the basis of conditions in the normal course of business and according to market value. In addition to the related-transaction disclosure in Note 7 and 8 of the financial statements for the year 2007, the Company would like to reveal additional information for cross-over transaction as follows: (Baht: million) Transaction with Related Party Related Party Relationship 2007 2006 Investment in Related Companies Disclosure in Note 8 and 7 of - - - & Associated Companies the Financial Statements, respectively Premium Written Bangkok Bank PCL. Major Shareholders 69.1 63.0 Interest Income * Bangkok Bank PCL. Major Shareholders 19.8 18.0 Interest Expenses * Bangkok Bank PCL. Major Shareholders 0.08 0.01 Bank Deposits Bangkok Bank PCL. Major Shareholders 542.6 579.1 Notes Bangkok Bank PCL. Major Shareholders 30.0 - Premium Due and Uncollected Bangkok Bank PCL. Major Shareholders 3.2 7.1 * Interest is charged at the same rates as those that financial institutions and related parties offer to other customers, based on market value. Necessity and Justification of the Items The Company has the above interrelated items, together with those disclosed in the remarks supplementary to the financial statements, in order to support its operation, expand its customer base and develop its business. They are generated according to the general regular business in which the Company has complied with the rules and regulations of the Office of Insurance Commission and standard trading conditions, with fair value based on market value. Nevertheless, the Company expects to generate maximum benefit. Procedures for Approval of Interrelated Items The Company has internal control systems at various levels based on the type of interrelated items, which are implemented in accordance with the law, regulations and policy of the Company that comply with other courses of business. In order to avoid any conflict of interest in making interrelated items, the Company complies with the regulations of the SET. However, when the transaction of an interrelated item occurs, it will comply with the regular trade in the market, and the audit committee shall review the item’s suitability and justification. Policy of Making Interrelated Items in the Future The Company has in force a policy of making interrelated items in the future, which will be in accordance with those principles explained above. The Company will comply with the rules and notices of the SET. It is the intention of the Company, however, to continue its business in a clear and transparent manner, which is fair to its business partners, customers and shareholders, and is in keeping with the highest standards of benefit to the Company. 85
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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
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Marketing and Competition in 2007 F
Page 13 and 14:
Nevertheless, there are still many
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2. Underwriting Risks Thailand has
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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 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
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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