Company has established visions, organizational culture and core values for all employees to adhere to and comply in every step of work. The Company will also apply these as key guidelines to serve customers and employees.

Visions

“To be the customers’ trusted lifetime partner through innovative life and health solutions by putting customers at the heart of everything we do”

Corporate Culture and Core Values

Corporate culture refers to the values, beliefs and norms influencing employees’ behaviors which are arisen from learning from each other, have been adhered to and become our mutual tradition. Muang Thai Life Assurance Public Company Limited hereby adheres to the following core values as our expected Code of Conduct.

“MTL Core Values”

1) Customer Centricity

• Customer value mindset
• Outside in
• Beyond expectation

2) Data Driven

• Accountable for data accuracy & security
• Data as a discipline to take action and make decision
• Turning data into insight

3) Innovation

• Passion to learn & capture business opportunities
• Continuous improvement
• Courageously try new methods

4) Commitment to success

• Integrity & Transparency
• Result oriented
• Agility

5) Collaboration

• Open mind and respect for individual
• Teamwork toward organizational goal
• Partnership mindset

6) Caring

• Our customer
• Our people
• Our society

The Company’s operation complies with laws and maintains good relations with government officials. The Company has set a standard regarding compliance with laws and regulations as follows:

1. All employees must comply with laws, the Company’s rules and valuable traditions.
2. Breaches of laws, regulations, notification, the Company’s order are not justified by the pursuit of profit.
3. Activities are not made acceptable merely by the practices of competitors or others in the business. If a law or regulatory statute appears to no longer be relevant, or if competitors are not abiding by it, the Company must nevertheless abide by it.
4. The Company realizes and respects human rights of every individual by treating everyone equally without creating double standard of treatment. The Company supports and promotes human rights as well as avoids any actions that violate human rights. Moreover, we are aware of the importance of employees who are our valuable resource; we fairly treat our employees according to labor laws and relevant regulations. 
5. It is the Company’s wish that our regulators develop a relationship of confidence towards, and trust in, us. To achieve this, MTL must deal with regulators in an open and cooperative manner, keeping them informed of the Company’s business transparently which might reasonably be expected to be disclosed to them. In addition, cooperation is provided to other organizations with respect to all anti-corruption, anti-money laundering and combating the financing of terrorism activities and proliferation of weapons of mass destruction.

             The Company has great interest on the right of all groups of stakeholders which are the shareholders, customers, business partners, creditors, employees, competitors, government community/ society and environment, by taking into account the right of the stakeholders according to the law or the agreement made with the Company and will not perform any of the following actions to violate the rights of such stakeholders.

• Shareholders: The Company is committed to continuing to achieve good performance and focus on shareholders’ rights and treating them with equality. The Board of Directors must facilitate the shareholders to fully exercise their rights.
• Customers: The Company adheres to customer centricity in delivering quality products and services. Moreover, the Company aims to provide fair end-to-end services, including developing and launching insurance products, selecting agents and distribution channels, defining standard sales process, providing after-sales service, managing complaints and claims, data privacy, developing a system to control sales as well as to manage and evaluate the behaviors of every distribution channel to ensure that the Company places importance on customer benefits.
• Business Partners and Creditors: The Company shall serve partners and/or creditors according to trade terms and contracts by complying with good competition scope without using any corrupt practices.
• Employees: The Company provides the employees with a fair remuneration and welfare policy, training opportunities, and secure workplace for both life and assets of employees.
• Competitors: The Company shall comply with good competition framework without using any corrupt practices to harm its   competitors.
• Government: The Company is committed to complying with business-related laws and regulations.
• Community/Society and environment: When performing the duties, the Company’s employees must take into account the aspects of community/ society, environment, in order to align with the Company’s policy in continuously supporting CSR activities for educational, religion, arts and cultural, social Quality Improvement, Health promotion, as well as environmental conservation.
  
• Non-infringement of Intellectual Property or Copyright: The Company shall not perform any act that infringes intellectual property or copyright of every stakeholder. The Company shall formulate a utilization policy of information technology system. Any software used in the Company’s information technology system must be licensed and obtain a legal copyright.
• Information Security: The Company has placed importance on information security by complying with laws and business ethics which prohibit personal information of the Company’s stakeholders to be disclosed or used for other benefits.

               The Company carries out its operation based on good corporate governance and discloses information of the Company accurately, completely, transparently, and fairly, in compliance with the law. The Company, therefore, determines the criteria for information disclosure as a guideline for directors, executives and employees as follows:

1. Authorized person to disclose information shall be Chief Executive Officer, President, or Assigned Executive, who can consider and make a decision on the disclosure of important information where such person may inform the information or assign related person to clarify it.            
2. The information of the Company must be accurate, transparent, fair, reliable, straightforward, explainable, easy to understand, and timely.
3. The disclosure of information to government agencies must be made within the time and frequency required by law or supervisory authority of the Company based on type of information
4. The disclosure of business confidential information; or information which may cause a loss of benefit and competitiveness; or inconclusive information; or information under negotiation, which is uncertain, is prohibited.
5. Public Relations Division has a duty to provide an advice and set the guideline of communication or disclosure of significant information to mass media or public.
6. In case the disclosed information is significantly inaccurate, false, distorted from the fact or misinterpreted or misleading, Chief Executive Officer, President, or Assigned Executive has an authority to clarify the fact and create a correct understanding immediately.

                   In this regard, the Company is committed to supervise data security fully by considering data confidentiality, Moreover, access rights and protection of data from access, use, revision and destruction without permission. and data backup in case of natural disaster or unexpected situation must be conducted.

Basic information that the Company should disclose on the Company’s website is as follows:

1. Vision and Mission

2. Sustainability Development Framework and Policy

3. Corporate Governance Policies and Related Policies

• Corporate Governance Framework
• Corporate Governance Policy
• Code of Conduct
• Anti-Corruption Policy
• Whistle-Blowing Policy
• Risk Management Policy
• Environmental, Energy, and Climate Change Management Policy
• Human Rights Policy

4. Report of Financial Position of Performance of the Company (PorPhorChor.Form) on  a quarterly basis and by year end

      The Company’s responsibility is to maintain the customers’ trust placed in the Company by ensuring that information relating to our customers’ business affair remains confidential in accordance with the conditions specified in each contract or as required by laws. Confidentiality applies to information obtained from the points of contact with customers and other sources of the Company. Such information shall only be used for the purpose that is determined,  and must not disclose secrets to a third person without consent, and do not share secrets for personal benefits of any individual

      Confidential information includes not only information received from customer, and transactions between customer and the Company. All employees have a duty to safeguard confidential information obtained in the normal business practice of the Company.

       Employees shall avoid communicating confidential information, either in verbal or written form, through public or online social media in order to protect such confidential information from outsiders.  Any text messages, pictures, audio messages or information that could cause conflicts or discord within society, unlawful, or negative impact on the Company’s reputation, customers, individuals, or groups shall be avoided.

      The Company has a duty to not divulging information to third parties except under the following circumstances.

1. The concerned party has been given prior written permission to do so;
2. Information disclosure complies with the laws.
3. The Company has a duty required by regulators to disclose information through public;
4. The disclosure is necessary to protect the Company’s assets without violation of the law.

• Directors, executives and employees shall not place themselves in positions where their own interests can conflict with those of customers or the Company. The decision shall be made solely based on the best interest of customers and the Company.
• Directors, executives and employees must avoid the situation that may cause the conflict of own interest with customers or the Company. If conflict of interest arises, it shall be ensured that it is a fair treatment to customers and the Company by disclosing information or denying to act or act another appropriately.
• Directors, executives and employee or family member that have direct or indirect interest in conflict with, or may conflict with, the interest of customers or the Company, shall disassociate from any involvement in making decision related to such interest.
• Any involvement in an external activity or position of directors, executives must not cause conflict with customer or the Company’s interest, and must not cause any damages to customer and the Company.
• Management and limiting the usage of internal information to prevent the use of information obtained from being directors, executives or employees in seeking personal interests or doing businesses that compete with the Company, or providing inside information to others for their own interests and having an effective internal information maintenance system in order to prevent business units or personnel that are not authorized to know or access the information under each other’s’ responsibility.
• Directors, executives and employees are required to strictly comply with the work systems and conflict of interest preventive and management measures defined by the Company.

               The Company aims to have good internal control system to effectively align with risk management policy, regular assessment of adequacy and effectiveness of the internal control system, and appropriate organizational structure, segregation of duties, and line of command. These reasonably ensure that the Company can achieve the objectives, provide long-term benefit, manage risks to be at an acceptable level, formulate reliable financial and performance reports in compliance with law, rules, regulations, and protect any acts that may damage the Company’s reputation.

                 The Board of Directors and high-level executives are well aware of the importance of good internal control in order to maintain the culture of having consciousness in risk management and internal control of the Company’s operation, and being a good example by continuously and regularly complying with the Company’s policies and procedures. The employees of the Company must understand and give full participation in maintaining good internal control.

        It is not acceptable to offer or receive any form of bribe and inducement, or direct anyone else to do so on your behalf. Bribery in commerce is illegal and subject to criminal penalties.

        The Company’s business competition strategy is conducted fairly and on the merits of the Company’s products and services. Any personal payments or bribes offered to employees of the Company by customers or counterparties and receipt of bribes or personal payments by employees, as payments, or other benefits for the bribes of the Company’s business are strictly prohibited.

         The Company believes in promoting good governance and the fair and transparent business operations in accordance with the laws. It is also, therefore, strictly prohibited for employees in the performance of their official duties to give anything of value directly or indirectly to the government official, politician, organizations, company or related person to influence their actions in the Company’s favor.

         Should there be any demand for receiving, or giving of bribes, must be reported to the working team assigned by the Company.

       The Company’s policy on gifts, entertainment, and gratuities is designed to preserve and maintain the Company’s reputation as a leading company that acts with integrity and bases decisions only on legitimate business considerations. Other than as described below, gifts e.g. sponsorships welcoming service entertainment reward and change, or other gratuities shall not be received or solicited from people with whom we do business; as well as prohibition on payment of hospitality expense or other expenses, doing so would compromise or give the appearance of compromising, our position on any business decision taken by, or on behalf of the Company.

        In the event that an outsider offers gift or benefit which must be approved by a supervisor, but being under the circumstances where refusal is difficult, e.g. during meetings with customers,  the employees may accept the gift or benefit under the conditions that they must follow the procedures specified by the Company.

         The acceptance or offer of gift or benefit to induce the recipient to enter into an arrangement that will result in a conflict of duties liable for customers is strictly prohibited.

       The Company has the political neutrality policy that the Company will not provide any of its resources including but not limited to property, money, materials, or other benefits to assist or support, or for any other benefits to political parties, politicians, or politics-related persons as well as supporting political activities, whether directly or indirectly. However, the Company has respected the political rights of employees as good citizens under the constitution by stipulating guidelines for the employees to participate in politics as follows:

1. The Company does not permit employees to use the Company’s facilities or resources for political campaigning, fundraising, or for the purpose of one political party.
2. The Company prohibits all management and employees from directing or persuading by any means, employees and subordinates to participate in any type of political activity.
3. Unless such support is permitted by law and advocates democracy in general.

       A decision made by employees to participate in political matters by contributing their personal time after normal working hours, or other personal funds and assets to a political campaign or activity shall be deemed as the employee’s own discretion.

       The Company shall treat seriously on any breaches or compromises of this Code of Conduct which may result in disciplinary action up to termination of employment. Therefore, any failure or suspected lapse in compliance with the provisions of this Code of Conduct must be reported to supervisor immediately in accordance with complaint Whistle Blowing Policy.

        Human Resources Management Department is responsible for monitoring compliance with this Code of Conduct, and maintaining a record of all actions related to or might be related to the Code of Conduct violations.

        The Company conducts business with integrity, transparency, morality and good corporate governance principles. The Whistle-blowing Policy has been established to allow stakeholders to report offenses or complaints with good faith through various channels. If the Company’s directors, executives, employees, agents, brokers and staff are found to commit offenses, whether they are corruption, violations against laws, rules, regulations, principles of business units, whistle-blowers can inform such cases or make complaints through the specified channels. However, names of whistle-blowers shall be kept confidential and they shall be protected both during the investigation and after the process is completed.

       Corporate Governance and Sustainability Committee has duties to consider annually review this Code of Conduct to be appropriate with changing business environment, and propose to the Board of Directors for consideration and approval.

     This Code of Conduct cannot anticipate or address appropriate behavior for every situation. The Company relies on its employees to make ethical judgment on what is right and proper in each particular situation.

      If there are no specific rules or orders, the management or employees make decisions based on the interests of the Company.