Page 196 - Demo

Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and 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 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and affectedequityandprofitorlossbytheamountshownbelowThisanalysisassumesthatallothervariablesinMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and affectedequityandprofitorlossbytheamountshownbelowThisanalysisassumesthatallothervariablesinMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and affectedequityandprofitorlossbytheamountshownbelowThisanalysisassumesthatallothervariablesinMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and affectedequityandprofitorlossbytheamountshownbelowThisanalysisassumesthatallothervariablesinMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024 Financial statements in which the equity method is applied and separate financial statements 2023Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (434,142) 492,065 (152,700) 173,530 Foreign currency exchange risk The Company is exposed to foreign currency risk relating to investments in securities which are denominated in foreign currencies. The Company has entered into cross currency swap and forward contracts to hedge the foreign currency risk.At 31 December 2024 and 2023, the Company was exposed to foreign currency exchange risk in respect of financial assets and liabilities denominated in the following currencies: Financial statements in which the equity method is applied and separate financial statements 2024 2023(in million Baht)Financial assets Debt securities in USD 26,552 30,733Debt securities in other foreign currencies 14,371 16,385Equity securities in USD 27,181 20,437Equity securities in other foreign currencies 12,140 11,298Financial liabilitiesDebts issued and borrowings (10,224) (10,286)Gross financial position exposure 70,020 68,567 Foreign currency swap contracts (notional amount) (40,928) (43,039)Foreign currency swap contracts (notional amount) 9,991 9,991Foreign exchange forward (notional amount) (123) (8,750)Net exposure 38,960 26,769 Sensitivity analysisA reasonably possible strengthening (weakening) of the USD and other foreign currencies as at 31 December 2024and 2023 would have affected the measurement of financial instruments denominated in a foreign currency and affectedequityandprofitorlossbytheamountshownbelowThisanalysisassumesthatallothervariablesin61Policy loans are loans secured by the cash surrender values of the relevant policies. As of 31 December 2024, no portion of the balance of policy loans amounting to Baht 20,870.0 million (2023: Baht 20,734.7 million) is included in loans as it is not practicable to determine the maturity with sufficient reliability given that the loans have no fixed terms of repayment.As of 31 December 2024 and 2023, the interest rate per annum of policy loans is not more than 8% in accordance with the Notification of the Office of Insurance Commission.Sensitivity analysisA reasonable possible change of interest rates as at 31 December 2024 and 2023 would have effected the measurement of investment in debt securities and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (446,624) 501,888 (54,339) 59,578(in thousand Baht)61Policy loans are loans secured by the cash surrender values of the relevant policies. As of 31 December 2024, no portion of the balance of policy loans amounting to Baht 20,870.0 million (2023: Baht 20,734.7 million) is included in loans as it is not practicable to determine the maturity with sufficient reliability given that the loans have no fixed terms of repayment.As of 31 December 2024 and 2023, the interest rate per annum of policy loans is not more than 8% in accordance with the Notification of the Office of Insurance Commission.Sensitivity analysisA reasonable possible change of interest rates as at 31 December 2024 and 2023 would have effected the measurement of investment in debt securities and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (446,624) 501,888 (54,339) 59,57861Policy loans are loans secured by the cash surrender values of the relevant policies. As of 31 December 2024, no portion of the balance of policy loans amounting to Baht 20,870.0 million (2023: Baht 20,734.7 million) is included in loans as it is not practicable to determine the maturity with sufficient reliability given that the loans have no fixed terms of repayment.As of 31 December 2024 and 2023, the interest rate per annum of policy loans is not more than 8% in accordance with the Notification of the Office of Insurance Commission.Sensitivity analysisA reasonable possible change of interest rates as at 31 December 2024 and 2023 would have effected the measurement of investment in debt securities and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (446,624) 501,888 (54,339) 59,57861Policy loans are loans secured by the cash surrender values of the relevant policies. As of 31 December 2024, no portion of the balance of policy loans amounting to Baht 20,870.0 million (2023: Baht 20,734.7 million) is included in loans as it is not practicable to determine the maturity with sufficient reliability given that the loans have no fixed terms of repayment.As of 31 December 2024 and 2023, the interest rate per annum of policy loans is not more than 8% in accordance with the Notification of the Office of Insurance Commission.Sensitivity analysisA reasonable possible change of interest rates as at 31 December 2024 and 2023 would have effected the measurement of investment in debt securities and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (446,624) 501,888 (54,339) 59,57861Policy loans are loans secured by the cash surrender values of the relevant policies. As of 31 December 2024, no portion of the balance of policy loans amounting to Baht 20,870.0 million (2023: Baht 20,734.7 million) is included in loans as it is not practicable to determine the maturity with sufficient reliability given that the loans have no fixed terms of repayment.As of 31 December 2024 and 2023, the interest rate per annum of policy loans is not more than 8% in accordance with the Notification of the Office of Insurance Commission.Sensitivity analysisA reasonable possible change of interest rates as at 31 December 2024 and 2023 would have effected the measurement of investment in debt securities and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (446,624) 501,888 (54,339) 59,57861Policy loans are loans secured by the cash surrender values of the relevant policies. As of 31 December 2024, no portion of the balance of policy loans amounting to Baht 20,870.0 million (2023: Baht 20,734.7 million) is included in loans as it is not practicable to determine the maturity with sufficient reliability given that the loans have no fixed terms of repayment.As of 31 December 2024 and 2023, the interest rate per annum of policy loans is not more than 8% in accordance with the Notification of the Office of Insurance Commission.Sensitivity analysisA reasonable possible change of interest rates as at 31 December 2024 and 2023 would have effected the measurement of investment in debt securities and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax+ 100 basis point - 100 basispoint + 100 basispoint - 100 basispoint (in thousand Baht)Yield curve (446,624) 501,888 (54,339) 59,578Financial statements in which the equity method is appliedand separate financial statements2024+ 100 basis point - 100 basis point + 100 basis point - 100 basis pointProfit or loss Equity, net of tax(in thousand Baht)Financial statements in which the equity method is appliedand separate financial statements2023+ 100 basis point - 100 basis point + 100 basis point - 100 basis pointProfit or loss Equity, net of taxFinancial statements in which the equity methodis applied and separate financial statements2024 2023(in million Baht)194 %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)