Page 200 - Demo

Muang Thai Life Assurance Public Company LimitedNotes to the financial statements for the year ended 31 December Muang Thai Life Assurance 2024 Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 202465Financial statements in which the equity method is appliedand separate financial statements2023 (in thousand Baht) Stage 1 Stage 2 Stage 3 TotalInvestments in debt securities measured at amortised cost Rated above BBB 201,475,187 - - 201,475,187Rated BBB and below 21,503,573 5,709,845 - 27,213,418Non-rated - - 15,571 15,571Credit risk free 247,838,666 - - 247,838,666Carrying amount 470,817,426 5,709,845 15,571 476,542,842 Less Allowance for expected credit loss (167,647) (1,018,367) (15,571) (1,201,585)Carrying amount - net 470,649,779 4,691,478 - 475,341,257 Liquidity riskLiquidity risk is the risk of the Company being unable to generate sufficient cash resources to meet financial obligations as they fall due in business as usual and stress scenarios. Liquidity management of the Company is to ensure that, even under adverse conditions, the Company can still access to the funds necessary to cover liabilitiesarising from insurance contracts. The following tables shows information about the estimated timing of the undiscounted future cash flows from those insurance contracts as at 31 December 2024 and 2023. Financial statements in which the equity method is applied and separate financial statements 2024 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 527,203,232 205,336,237 136,118,664 104,571,215 63,321,019 151,841,547 Financial statements in which the equity method is applied and separate financial statements 2023 Estimation of undiscounted future cash flows Less than More Carrying or equal to Over 5-10 Over 10-15 Over 15-20 than 20 amount 5 years years years years years (in thousand Baht)Insurance contract liabilities 529,301,474 211,824,664 137,976,249 99,005,262 66,613,601 134,460,588Most of the Company%u2019s investment assets are marketable securities which are highly liquid or are able to be sold quickly at close to fair value and are more than sufficient to meet liquidity need. Financial statements in which the equity method is appliedand separate financial statements2023Stage 1 Stage 2 Stage 3 Total(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 statements20242023CarryingamountCarryingamountLess thanor equal to5 yearsLess thanor equal to5 yearsOver 5-10yearsOver 5-10yearsOver 10-15yearsOver 10-15yearsOver 15-20yearsOver 15-20yearsMorethan 20 yearsMorethan 20 yearsEstimation of undiscounted future cash flowsEstimation of undiscounted future cash flows198 %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)