Page 198 - Demo

Muang Thai Life Assurance Public Company LimitedNotes to the financial statements for the year ended 31 December 202463A 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.Key areas that the Company is exposed to credit risk are cash positions, premium due and uncollected, policy loans, mortgage loans, and investments in debt securities.Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all policyholders, borrowers and debt securities on an ongoing basis. Concentrations of the credit risk with respect to premiums due and uncollected are insignificant due to the large number of customers comprising the customer base and their dispersion across different industries and geographic regions in Thailand.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024In addition, there is insignificant risk from policy loans since the amount lent to insured parties is less than the cash value of their policies with the Company. The maximum credit exposure arising from mortgage loans is the amount of the loan less the value of assets pledged as security.Credit quality analysisThe following table sets out information about the credit quality as at 31 December 2024 and 2023 of debt securities measured at FVTOCI and debt securities measured at amortised cost, based on ratings.Financial statements in which the equity method is appliedand separate financial statements2024 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at fair value through other comprehensive income Rated above BBB 1,401,268 - - 1,401,268Rated BBB and below - 1,988 - 1,988Credit risk free 3,806,464 - - 3,806,464Mutual fund classified as debt securities 5,000,000 - - 5,000,000Carrying amount 10,207,732 1,988 - 10,209,720 Allowance for expected credit loss (1,262) (396) - (1,658) Investments in debt securities measured at amortised cost Rated above BBB 196,043,160 - - 196,043,160Rated BBB and below 21,646,287 4,790,131 - 26,436,418Non-rated - - 15,571 15,571Credit risk free 251,013,357 - - 251,013,357Carrying amount 468,702,804 4,790,131 15,571 473,508,506 LAllftdditl(169071)(1228004)(15571)(1412646)Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024In addition, there is insignificant risk from policy loans since the amount lent to insured parties is less than the cash value of their policies with the Company. The maximum credit exposure arising from mortgage loans is the amount of the loan less the value of assets pledged as security.Credit quality analysisThe following table sets out information about the credit quality as at 31 December 2024 and 2023 of debt securities measured at FVTOCI and debt securities measured at amortised cost, based on ratings.Financial statements in which the equity method is appliedand separate financial statements2024 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at fair value through other comprehensive income Rated above BBB 1,401,268 - - 1,401,268Rated BBB and below - 1,988 - 1,988Credit risk free 3,806,464 - - 3,806,464Mutual fund classified as debt securities 5,000,000 - - 5,000,000Carrying amount 10,207,732 1,988 - 10,209,720 Allowance for expected credit loss (1,262) (396) - (1,658) Investments in debt securities measured at amortised cost Rated above BBB 196,043,160 - - 196,043,160Rated BBB and below 21,646,287 4,790,131 - 26,436,418Non-rated - - 15,571 15,571Credit risk free 251,013,357 - - 251,013,357Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024In addition, there is insignificant risk from policy loans since the amount lent to insured parties is less than the cash value of their policies with the Company. The maximum credit exposure arising from mortgage loans is the amount of the loan less the value of assets pledged as security.Credit quality analysisThe following table sets out information about the credit quality as at 31 December 2024 and 2023 of debt securities measured at FVTOCI and debt securities measured at amortised cost, based on ratings.Financial statements in which the equity method is appliedand separate financial statements2024 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at fair value through other comprehensive income Rated above BBB 1,401,268 - - 1,401,268Rated BBB and below - 1,988 - 1,988Credit risk free 3,806,464 - - 3,806,464Mutual fund classified as debt securities 5,000,000 - - 5,000,000Carrying amount 10,207,732 1,988 - 10,209,720 Allowance for expected credit loss (1,262) (396) - (1,658) Investments in debt securities measured at amortised cost Rated above BBB 196,043,160 - - 196,043,160Rated BBB and below 21,646,287 4,790,131 - 26,436,418Non-rated - - 15,571 15,571Credit risk free 251,013,357 - - 251,013,357Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024In addition, there is insignificant risk from policy loans since the amount lent to insured parties is less than the cash value of their policies with the Company. The maximum credit exposure arising from mortgage loans is the amount of the loan less the value of assets pledged as security.Credit quality analysisThe following table sets out information about the credit quality as at 31 December 2024 and 2023 of debt securities measured at FVTOCI and debt securities measured at amortised cost, based on ratings.Financial statements in which the equity method is appliedand separate financial statements2024 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at fair value through other comprehensive income Rated above BBB 1,401,268 - - 1,401,268Rated BBB and below - 1,988 - 1,988Credit risk free 3,806,464 - - 3,806,464Mutual fund classified as debt securities 5,000,000 - - 5,000,000Carrying amount 10,207,732 1,988 - 10,209,720 Allowance for expected credit loss (1,262) (396) - (1,658) Investments in debt securities measured at amortised cost Rated above BBB 196,043,160 - - 196,043,160Rated BBB and below 21,646,287 4,790,131 - 26,436,418Non-rated - - 15,571 15,571Credit risk free 251,013,357 - - 251,013,357Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024In addition, there is insignificant risk from policy loans since the amount lent to insured parties is less than the cash value of their policies with the Company. The maximum credit exposure arising from mortgage loans is the amount of the loan less the value of assets pledged as security.Credit quality analysisThe following table sets out information about the credit quality as at 31 December 2024 and 2023 of debt securities measured at FVTOCI and debt securities measured at amortised cost, based on ratings.Financial statements in which the equity method is appliedand separate financial statements2024 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at fair value through other comprehensive income Rated above BBB 1,401,268 - - 1,401,268Rated BBB and below - 1,988 - 1,988Credit risk free 3,806,464 - - 3,806,464Mutual fund classified as debt securities 5,000,000 - - 5,000,000Carrying amount 10,207,732 1,988 - 10,209,720 Allowance for expected credit loss (1,262) (396) - (1,658) Investments in debt securities measured at amortised cost Rated above BBB 196,043,160 - - 196,043,160Rated BBB and below 21,646,287 4,790,131 - 26,436,418Non-rated - - 15,571 15,571Credit risk free 251,013,357 - - 251,013,357Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024In addition, there is insignificant risk from policy loans since the amount lent to insured parties is less than the cash value of their policies with the Company. The maximum credit exposure arising from mortgage loans is the amount of the loan less the value of assets pledged as security.Credit quality analysisThe following table sets out information about the credit quality as at 31 December 2024 and 2023 of debt securities measured at FVTOCI and debt securities measured at amortised cost, based on ratings.Financial statements in which the equity method is appliedand separate financial statements2024 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at fair value through other comprehensive income Rated above BBB 1,401,268 - - 1,401,268Rated BBB and below - 1,988 - 1,988Credit risk free 3,806,464 - - 3,806,464Mutual fund classified as debt securities 5,000,000 - - 5,000,000Carrying amount 10,207,732 1,988 - 10,209,720 Allowance for expected credit loss (1,262) (396) - (1,658) Investments in debt securities measured at amortised cost Rated above BBB 196,043,160 - - 196,043,160Rated BBB and below 21,646,287 4,790,131 - 26,436,418Non-rated - - 15,571 15,571Credit risk free 251,013,357 - - 251,013,357(in thousand Baht)Financial statements in which the equity method is appliedand separate financial statements20231% increase 1% decrease 1% increase 1% decreaseProfit or loss Equity, net of tax63valuation 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.Key areas that the Company is exposed to credit risk are cash positions, premium due and uncollected, policy loans, mortgage loans, and investments in debt securities.Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all policyholders, borrowers and debt securities on an ongoing basis. Concentrations of the credit risk with respect to premiums due and uncollected are insignificant due to the large number of customers comprising the customer base and their dispersion across different industries and geographic regions in Thailand.63valuation 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.Key areas that the Company is exposed to credit risk are cash positions, premium due and uncollected, policy loans, mortgage loans, and investments in debt securities.Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all policyholders, borrowers and debt securities on an ongoing basis. Concentrations of the credit risk with respect to premiums due and uncollected are insignificant due to the large number of customers comprising the customer base and their dispersion across different industries and geographic regions in Thailand.63valuation 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.Key areas that the Company is exposed to credit risk are cash positions, premium due and uncollected, policy loans, mortgage loans, and investments in debt securities.Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all policyholders, borrowers and debt securities on an ongoing basis. Concentrations of the credit risk with respect to premiums due and uncollected are insignificant due to the large number of customers comprising the customer base and their dispersion across different industries and geographic regions in Thailand.63valuation 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.Key areas that the Company is exposed to credit risk are cash positions, premium due and uncollected, policy loans, mortgage loans, and investments in debt securities.Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all policyholders, borrowers and debt securities on an ongoing basis. Concentrations of the credit risk with respect to premiums due and uncollected are insignificant due to the large number of customers comprising the customer base and their dispersion across different industries and geographic regions in Thailand.63valuation 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.Key areas that the Company is exposed to credit risk are cash positions, premium due and uncollected, policy loans, mortgage loans, and investments in debt securities.Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all policyholders, borrowers and debt securities on an ongoing basis. Concentrations of the credit risk with respect to premiums due and uncollected are insignificant due to the large number of customers comprising the customer base and their dispersion across different industries and geographic regions in Thailand.Financial statements in which the equity method is appliedand separate financial statements2024Stage 1 Stage 2 Stage 3 Total(in thousand Baht)196 %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)