Page 197 - Demo

Muang Thai Life Assurance Public Company LimitedNotes to the financial statements for the year ended 31 December 202462Debts 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 affected equity and profit or loss by the amount shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sale and purchases. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 217,451 (217,451)62Debts 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 affected equity and profit or loss by the amount shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sale and purchases. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 217,451 (217,451)62Debts 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 affected equity and profit or loss by the amount shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sale and purchases. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 217,451 (217,451)62Debts 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 affected equity and profit or loss by the amount shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sale and purchases. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 217,451 (217,451)62Debts 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 affected equity and profit or loss by the amount shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sale and purchases. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 217,451 (217,451)62Debts 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 affected equity and profit or loss by the amount shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sale and purchases. Financial statements in which the equity method is applied and separate financial statements 2024Profit or loss Equity, net of tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 217,451 (217,451)(in thousand Baht)(in thousand Baht)(in thousand Baht)Financial statements in which the equity method is appliedand separate financial statementsFinancial statements in which the equity method is appliedand separate financial statementsFinancial statements in which the equity method is appliedand separate financial statements2024202420231% Strengthening 1% increase1% Strengthening 1% Strengthening 1% increase1% Strengthening 1% Weakening 1% decrease1% Weakening 1% Weakening 1% decrease1% Weakening Profit or lossProfit or lossProfit or lossEquity, net of taxEquity, net of taxEquity, net of taxMuang 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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial and contractual obligations to the Company as and when they fall due.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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial 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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial 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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial 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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial 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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial 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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial and contractual obligations to the Company as and when they fall due.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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial and contractual obligations to the Company as and when they fall due.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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial and contractual obligations to the Company as and when they fall due.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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial and contractual obligations to the Company as and when they fall due.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 tax1% 1% 1% 1%Strengthening Weakening Strengthening Weakening (in thousand Baht)USD - - 175,969 (175,969) Equity price risk The Company invests in equity portfolio to enhance longer term returns. As equity portfolio value might be volatile due to market price movements, the exposure to equities is managed carefully to ensure that the Company%u2019s internal capital requirements are met at all times, as well as in compliance with any applicable regulations by regulators. The Company monitors equity price risk on a regular basis.Sensitivity analysis A reasonably possible change of the stock market as at 31 December 2024 and 2023 would have affected the valuation of investment in listed equity and affected equity and profit or loss by the amount shown below. Financial statements in which the equity method is applied and separate financial statements 2024 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 343 (343) 170,178 (170,178) Financial statements in which the equity method is applied and separate financial statements 2023 Profit or loss Equity, net of tax 1% increase 1% decrease 1% increase 1% decrease (in thousand Baht)Stock Exchange of Thailand 309 (309) 233,788 (233,788)Credit risk Credit risk is the potential financial loss resulting from the failure of the counterparty to settle its financial and contractual obligations to the Company as and when they fall due.Annual Report 2024 I Muang Thai Life Assurance PCL 195