Page 192 - Demo

57 (%) Baht) (%) Baht)Profit before income tax 6,860,520 6,999,119Income tax using the Thai corporation tax rate 20 1,372,104 20 1,399,824Income not subject to tax, net (118,036) (134,754)Total 18 1,254,068 18 1,265,070 Separate financial statements 2024 2023 (in (in Rate thousand Rate thousand (%) Baht) (%) Baht)Profit before income tax 6,806,513 6,938,115Income tax using the Thai corporation tax rate 20 1,361,303 20 1,387,623Income not subject to tax, net (107,235) (122,553)Total 18 1,254,068 18 1,265,070 57 (%) Baht) (%) Baht)Profit before income tax 6,860,520 6,999,119Income tax using the Thai corporation tax rate 20 1,372,104 20 1,399,824Income not subject to tax, net (118,036) (134,754)Total 18 1,254,068 18 1,265,070 Separate financial statements 2024 2023 (in (in Rate thousand Rate thousand (%) Baht) (%) Baht)Profit before income tax 6,806,513 6,938,115Income tax using the Thai corporation tax rate 20 1,361,303 20 1,387,623Income not subject to tax, net (107,235) (122,553)Total 18 1,254,068 18 1,265,070 57 (%) Baht) (%) Baht)Profit before income tax 6,860,520 6,999,119Income tax using the Thai corporation tax rate 20 1,372,104 20 1,399,824Income not subject to tax, net (118,036) (134,754)Total 18 1,254,068 18 1,265,070 Separate financial statements 2024 2023 (in (in Rate thousand Rate thousand (%) Baht) (%) Baht)Profit before income tax 6,806,513 6,938,115Income tax using the Thai corporation tax rate 20 1,361,303 20 1,387,623Income not subject to tax, net (107,235) (122,553)Total 18 1,254,068 18 1,265,070 57 (%) Baht) (%) Baht)Profit before income tax 6,860,520 6,999,119Income tax using the Thai corporation tax rate 20 1,372,104 20 1,399,824Income not subject to tax, net (118,036) (134,754)Total 18 1,254,068 18 1,265,070 Separate financial statements 2024 2023 (in (in Rate thousand Rate thousand (%) Baht) (%) Baht)Profit before income tax 6,806,513 6,938,115Income tax using the Thai corporation tax rate 20 1,361,303 20 1,387,623Income not subject to tax, net (107,235) (122,553)Total 18 1,254,068 18 1,265,070 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 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacy framework.There were no changes in the Company%u2019s policy to capital management during the year.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacy framework.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacyframeworkMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacy framework.There were no changes in the Company%u2019s policy to capital management during the year.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacy framework.There were no changes in the Company%u2019s policy to capital management during the year.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacy framework.There were no changes in the Company%u2019s policy to capital management during the year.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacy framework.There were no changes in the Company%u2019s policy to capital management during the year.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202423 Basic earnings per share The calculations of basic earnings per share for the years ended 31 December 2024 and 2023 were based on the profit for the year attributable to ordinary shareholders of the Company and the number of ordinary shares outstanding during the year as follows: Financial statements in which the equity method is applied Separate financial statements 2024 2023 2024 2023Profit attributable to ordinary shareholders of the Company (basic) (in thousand Baht) 5,606,452 5,734,049 5,552,445 5,673,045Number of ordinary shares outstanding (in thousand shares) 10,000 10,000 10,000 10,000Basic earnings per share (in Baht) 560.65 573.40 555.24 567.30 24 Dividends (a) At the annual general meeting of shareholders of the Company held on 22 April 2024, the shareholders approved the appropriation of dividend of Baht 113.5 per share, amounting to Baht 1,135 million. The dividend was paid to shareholders in May 2024.(b) At the annual general meeting of shareholders of the Company held on 21 April 2023, the shareholders approved the appropriation of dividend of Baht 114.2 per share, amounting to Baht 1,142 million. The dividend was paid to shareholders in May 2023. 25 Financial and insurance risk management Risk management is an integral part of all organisational processes. The Company has an internal control system to reduce risks to an acceptable level by considering between the cost and benefit of managing risks. Management continually monitors the Company%u2019s risk management process to ensure that the balance between that cost and benefit is still within appropriate level. Capital management The primary objectives of the Company%u2019s capital management are to ensure that it has appropriate financial resources to continue its business as a going concern and to maintain capital requirement in accordance with Notifications of the Office of Insurance Commission.All insurers are required to maintain the Capital Adequacy Ratio based on risk-based capital requirement of at least minimum level of 140% as required by the Office of Insurance Commission. It is the Company%u2019s policy to hold adequate and appropriate capital levels according to the risk-based capital adequacy framework.There were no changes in the Company%u2019s policy to capital management during the year.57 (%) Baht) (%) Baht)Profit before income tax 6,860,520 6,999,119Income tax using the Thai corporation tax rate 20 1,372,104 20 1,399,824Income not subject to tax, net (118,036) (134,754)Total 18 1,254,068 18 1,265,070 Separate financial statements 2024 2023 (in (in Rate thousand Rate thousand (%) Baht) (%) Baht)Profit before income tax 6,806,513 6,938,115Income tax using the Thai corporation tax rate 20 1,361,303 20 1,387,623Income not subject to tax, net (107,235) (122,553)Total 18 1,254,068 18 1,265,070 Separate financial statements2024 2023Rate (%) (in thousand Baht) Rate (%) (in thousand Baht)23 Basic earnings per share24 Dividends 25 Financial and insurance risk management Financial statements in which the equity method is appliedSeparate financialstatements2024 2023 2024 2023190 %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)