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Muang Thai Life Assurance Public Company LimitedNotes to the financial statements for the year ended 31 December 2024Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202431Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2024Gain on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Cash flow hedgeCross currency swap contractTo hedge against exchange rate risk from investments and debts issued in a foreign currency 50,919,283 5,931,679 203,933 1,515,009 Bond forwardcontractTo hedge against reinvestment risk 1,029,950 75,659 1,615 121,784 Total cash flow hedge 51,949,233 6,007,338 205,548 1,636,793 Fair value hedge Foreign exchange forwardTo hedge against exchange rate risk from investments in a foreign currency - - - 96,539Total fair value hedge - - - 96,539 Total derivatives for which hedge accounting has been applied 51,949,233 6,007,338 205,548 1,733,332 Total derivatives 56,148,044 6,223,074 205,548 1,627,229 (in thousand Baht)(in thousand Baht)Financial statements in which the equity methodis applied and separate financial statementsFinancial statements in which the equity methodis applied and separate financial statements31 December 202431 December 2023Fair valueFair valueAssetsAssetsLiabilitiesLiabilitiesNotionalvalueNotionalvalueType of contractType of contractObjectivesObjectivesGain on remeasurementof derivativesat fair valueLoss on remeasurementof derivativesat fair valueMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31December2023Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31December2023Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31December2023Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31December2023Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31December2023Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31December2023Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Derivatives for which hedge accounting has not been applied: Financial statements in which the equity method is applied and separate financial statements31 December 2023Loss on remeasurementNotional Fair value of derivativesType of contract Objectives value Assets Liabilities at fair value(in thousand Baht)Index option contractTo hedge against the risk of changes in fair value of an underlying index 3,776,128 195,406 - (51,033)Warrants To invest 64,868 3,105 - (8,975)Foreign exchange forwardTo hedge against exchange rate risk from investmentsin a foreign currency 1,843,021 59,547 309 (66,361)Total derivatives for which hedge accounting has not been applied 5,684,017 258,058 309 (126,369) Derivatives for which hedge accounting has been applied: Financial statements in which the equity method is applied and separate financial statements31December2023166 %u0e23%u0e32%u0e22%u0e07%u0e32%u0e19%u0e1b%u0e23%u0e30%u0e08%u0e33%u0e33%u0e1b%u0e35%u0e35 2567 I %u0e1a%u0e23%u0e34%u0e34%u0e29%u0e31%u0e31%u0e17 %u0e40%u0e21%u0e37%u0e37%u0e2d%u0e07%u0e44%u0e17%u0e22%u0e1b%u0e23%u0e30%u0e01%u0e31%u0e31%u0e19%u0e0a%u0e35%u0e35%u0e27%u0e34%u0e34%u0e15 %u0e08%u0e33%u0e33%u0e01%u0e31%u0e31%u0e14 (%u0e21%u0e2b%u0e32%u0e0a%u0e19)