Notice of the 20 Annual Ordinary General Meeting of Shareholders TO

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follows:There was neither proposal nor query; he then concluded the resolution asRESOLUTION:The Meeting, by majority votes of shareholders attending the meeting andcasting votes, certified the minutes of the 18 th Annual Ordinary General Meeting ofShareholders held on April 22, 2011. During the meeting on the agenda 1, there were 4additional shareholders, 3 shareholders and 1 proxy, with 15,092 shares attended themeeting thus making a total of 270 shareholders, holding 35,907,801 shares attended themeeting and the vote results of the agenda 1, are as follows:THE NUMBERS OF VOTING SHARES IN AGENDA 1: approve 35,907,800 votes (100 %) disapprove - votes ( -- %) abstain 1 votes ( -- %)Agenda 2:To acknowledge the Board of Directors’ Report on the Company’sPerformance for the year 2011Mr. Panus Thiravanitkul, the President, reported and highlighted results of2011 compared to 2010 as follows:Unit: Million Baht2011 2010 Change %Written Premium 11,104.9 10,555.7 5.2Income (Loss) on Underwriting (482.2) 1,297.4 (137.2)Less Operating Expenses 616.9 591.2 4.3Less Contributions 48.1 41.1 17.0Less Financial Costs 2.7 1.7 58.8Net Underwriting Profit (Loss) (1,149.9) 663.4 (273.3)Net Investment Income 1,592.5 1,003.2 58.7Income before Income tax 442.6 1,666.6 (73.4)Less Income Tax 390.6 434.3 (10.1)Net Profit 52.0 1,232.3 (95.8)Earning Per Share 0.68 16.20 (95.8)Page 12
Mr. Panus Thiravanitkul, the President, reported that written premiumsof the Company in the year 2011 continue to increase in line with the set target, exceptthe aviation insurance premium which in the year 2010 the insured has decided to pay byone single payment instead of the previous practice of 4 equal installments resulting in alarge portion (75%) of the 2011 premium of that account which would be booked andrecognized as the revenue in the year 2011, had already been booked and recognized asthe revenue in the year 2010. Therefore the written premium of the year 2011 hasslightly increased by only 5.2 per cent.In spite of the premium increase, the Company still showed anunderwriting loss because of the serious flooding in high economic and industrial areasin the last quarter of 2011. The Office of Insurance Commission (OIC) estimated that theflood loss to the market would be around 450,000 million baht as compared to theproperty premium income of just only around 17,000 million baht.follows:As for Bangkok Insurance, we provisionally estimated our loss asEstimated Loss- Fire (6,302 claims)- All Perils ( 599 claims)- Motor (2,875 claims)- Engineering ( 54 claims)(Unit: Million Baht)22,087Less Reinsurance 18,490Company Retention 3,597Less Excess of Loss 2,682Net Retention 915Plus Inward Treaty 1,380Total estimated flood loss 2,295At the present, the Company has already paid the compensation tomore than 85% of insureds who have suffered by this flood. The remaining claims arethose with high sum insured and complexity in assessing the damage and involving thirdparties such as surveyors, loss adjusters and reinsurers. However, the Company hasalready made interim payments to relieve financial burden of the customers and we willendeavor to settle the claim soonest.Page 13
Page 2 and 3: Opinion of The Board: The Minutes o
Page 4: The total of annual dividend paymen
Page 7 and 8: The Audit Committee and Senior Vice
Page 9 and 10: Attachment 1A Copy of the Minutes o
Page 11: 3. Representative from the Ernst &
Page 15 and 16: Q.1.3) A shareholder referred to th
Page 17 and 18: follows:There was neither proposal
Page 19 and 20: Mr. Apichat Mekmasin, a shareholder
Page 21 and 22: 1. Miss Potjanee Thanavaranit Indep
Page 23 and 24: The Remuneration and Nomination Com
Page 25 and 26: The Audit Committee and Senior Vice
Page 27 and 28: In conclusion, there were 110 share
Page 29 and 30: The Details of Dividend Payment ove
Page 31 and 32: The Definition of Company’s Indep
Page 33 and 34: Attachment 5Profile of Nominated Di
Page 35 and 36: * BKI has no major shareholder, who
Page 37 and 38: Position/Experience (Cont.)2002 - 2
Page 39 and 40: Attachment 5Profile of Nominated Di
Page 41 and 42: Meeting Attendance- Board of Direct
Page 43 and 44: Position/Experience2011 - Present D
Page 45 and 46: Attachment 6ProxyIn the Annual Ordi
Page 47 and 48: Position/Experience (Cont.)July 201
Page 49 and 50: Conflicts of Interest in this 20 th
Page 51 and 52: Article 43The Chairman of the Board
Page 53 and 54: (3) In the event that the grantor w
Page 55 and 56: The Meeting ProceduresShareholdersB

Notice of the 20 Annual Ordinary General Meeting of Shareholders TO

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