Year 2007

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THE MANAGEMENT Management Structure The Company’s management structure consists of 2 major groups, namely: 1. The Board of Directors, together with 2 ad hoc sub-committees comprising the Audit Committee and the Remuneration & Nomination Committee. 2. The Company’s Management. 1. Board of Directors and Sub-Committees 1.1 Board of Directors Duties and Responsibilities of the Board of Directors: 1. To consider and define the policy on good corporate governance for the management’s implementation. This includes a review and evaluation of such implementation consequences so that the management can make improvements and make a report in the Company’s annual report. 2. To consider the appropriateness of, as well as making suggestions on and approving the vision of, strategies and performance goals of the Company, as proposed by the management, including following up and assessing performance achievement. 3. To oversee the Company’s performance so that it has appropriate systems of risk management, internal control and audit. 4. To generate effective selection procedures and succession plans for the Company’s Board of Directors and executive management. The Board will appoint the Chairman and President as head of the executive management team to take responsibility for the Company’s business performance under the Board’s supervision. 5. To ensure that the Company has a practical guideline concerning the morality of its business performance, as well as the Board’s and employees’ good practices, including an effective communication mechanism for the acknowledgement of the parties concerned. 6. To consider the appropriateness of an appointment to and define the scope of duties and responsibilities of sub-committees. 7. To prepare an audit committee report, which shall be disclosed in the Company’s annual report. 8. To consider and approve an establishment of, or dissolve the Company’s branches and offices, as proposed by the management. 9. To conduct any duties so that they are in accordance with laws, orders and the Company’s shareholders’ resolutions. The Board of Directors comprises 12 members as the following: 1. Executive directors consist of 2 members while another director is an adviser on the Company’s understanding affairs. 2. Non-executive directors consist of 9 members, who are independent and have no interest or relationship with the Company’s business. Consequently, the Board’s authority is counterbalanced by non-executive directors and hence the Board itself can fully oversee the Company’s performance. 88
Name of the Board of Directors, the number of their meeting attendances and remuneration in 2007 are given below: Name Position No. Of Attendance/ Annual Invitation Remuneration 1 2 3 (Baht) 1. Mr. Chai Sophonpanich Chairman & President 4/4 500,000 2. Mr. Plengsakdi Prakaspesat Independent Director 4/4 500,000 Chairman of 4/4 250,000 the Audit Committee 3. Mr. Singh Tangtaswas Independent Director 4/4 500,000 Chairman of Remuneration & 2/2 60,000 Nomination Committee 4. Miss Potjanee Thanavaranit* Independent Director 3/3 375,000 (Appointed on February 27, 2007 Audit Committee 3/3 187,500 and effective from March 1, 2007) 5. Dr. Areepong Bhoocha-oom** Independent Director 0/0 - (Appointed and effective from Audit Committee 0/0 - November 14, 2007) 6. Mr. Thira Wongjirachai Independent Director 4/4 500,000 Director of Remuneration & 2/2 60,000 Nomination Committee 7. Mr. Suvarn Thansathit Independent Director 4/4 500,000 Director of Remuneration & 2/2 60,000 Nomination Committee 8. Mr. Chor.nun Petpaisit Independent Director 3/4 500,000 9. Mr. Virasak Sutanthavibul Independent Director 3/4 500,000 10. Mr. Tori Ueno*** Independent Director 0/0 - (Appointed and effective from November 14, 2007) 11. Mr. Witcha Damrongsinsak Director 4/4 500,000 12. Mr. Voravit Rojrapitada Director 4/4 500,000 Secretary to the Board of Directors - 89
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CONTENTS FINANCIAL HIGHLIGHTS MESSA
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2007 2006 Change 2007 For The Year
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The year 2008, therefore, is anothe
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In 2007, the Company developed a nu
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Marketing and Competition in 2007 F
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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
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(Baht : million) 2007 2006 Change N
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The net investment income in 2007 w
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to industrial all risks insurance.
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Investments in non-listed securitie
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INVESTMENTS IN SECURITIES Investmen
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THREE YEARS REVIEW (Baht’000) 200
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BOARD OF DIRECTORS AND BOARD OF DIR
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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 84 and 85: FINANCIAL RATIO 2007 2006 2005 Fina
Page 86 and 87: SHAREHOLDING IN OTHER COMPANIES Inv
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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