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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 2024During the year ended 31 December 2024, due to changes in market conditions, there were transfer of financial assets measured at fair value of the Company from level 1 to level 2 amounting to Baht 619.4 million (2023: Baht198.7 million), and transfer from level 2 to level 1 amounting to Baht 5.4 million (2023: Baht 549.2 million).26 Related parties Relationships with key management and related parties were as follows:Country of incorporation/ Name of entities/person nationality Nature of relationships Key management personnel Thai/ Persons having authority and responsibility Foreigners for planning, directing and controlling theactivities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of the CompanyKasikornbank Public Company LimitedThailand Ultimate parent of companies in Kasikornbank Group Muang Thai Group Holding Company LimitedThailand Parent and holds 75.00% shareholding in the CompanyAgeas Insurance International N.V. Belgium Major shareholder MT Insure Broker Company Limited Thailand Subsidiary of the Company, and the Company has 99.99% shareholdingSovannaphum Life Assurance Public Cambodia Associate of the Company, and the Company Company Limited has 49.00% shareholdingNaya Residence Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingLivewell Living Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingDara Insurance PublicCompany LimitedCambodia Associate of the Company, and the Company has 25.00% shareholdingST-Muangthai InsuranceCompany LimitedLaos Associate of the Company, and the Company has 22.50% shareholdingCompanies in Kasikornbank Group Thailand Subsidiaries and associates of the ultimateparentOther related parties Thai/ForeignersSome common directors or related partiesof the Company hold their sharesMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024During the year ended 31 December 2024, due to changes in market conditions, there were transfer of financial assets measured at fair value of the Company from level 1 to level 2 amounting to Baht 619.4 million (2023: Baht198.7 million), and transfer from level 2 to level 1 amounting to Baht 5.4 million (2023: Baht 549.2 million).26 Related parties Relationships with key management and related parties were as follows:Country of incorporation/ Name of entities/person nationality Nature of relationships Key management personnel Thai/ Persons having authority and responsibility Foreigners for planning, directing and controlling theactivities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of the CompanyKasikornbank Public Company LimitedThailand Ultimate parent of companies in Kasikornbank Group Muang Thai Group Holding Company LimitedThailand Parent and holds 75.00% shareholding in the CompanyAgeas Insurance International N.V. Belgium Major shareholder MT Insure Broker Company Limited Thailand Subsidiary of the Company, and the Company has 99.99% shareholdingSovannaphum Life Assurance Public Cambodia Associate of the Company, and the Company Company Limited has 49.00% shareholdingNaya Residence Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingLivewell Living Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingDara Insurance PublicCompany LimitedCambodia Associate of the Company, and the Company has 25.00% shareholdingST-Muangthai InsuranceCompany LimitedLaos Associate of the Company, and the Company has 22.50% shareholdingCompanies in Kasikornbank Group Thailand Subsidiaries and associates of the ultimateparentOther related parties Thai/ForeignersSome common directors or related partiesof the Company hold their sharesMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024During the year ended 31 December 2024, due to changes in market conditions, there were transfer of financial assets measured at fair value of the Company from level 1 to level 2 amounting to Baht 619.4 million (2023: Baht198.7 million), and transfer from level 2 to level 1 amounting to Baht 5.4 million (2023: Baht 549.2 million).26 Related parties Relationships with key management and related parties were as follows:Country of incorporation/ Name of entities/person nationality Nature of relationships Key management personnel Thai/ Persons having authority and responsibility Foreigners for planning, directing and controlling theactivities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of the CompanyKasikornbank Public Company LimitedThailand Ultimate parent of companies in Kasikornbank Group Muang Thai Group Holding Company LimitedThailand Parent and holds 75.00% shareholding in the CompanyAgeas Insurance International N.V. Belgium Major shareholder MT Insure Broker Company Limited Thailand Subsidiary of the Company, and the Company has 99.99% shareholdingSovannaphum Life Assurance Public Cambodia Associate of the Company, and the Company Company Limited has 49.00% shareholdingNaya Residence Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingLivewell Living Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingDara Insurance PublicCompany LimitedCambodia Associate of the Company, and the Company has 25.00% shareholdingST-Muangthai InsuranceCompany LimitedLaos Associate of the Company, and the Company has 22.50% shareholdingCompanies in Kasikornbank Group Thailand Subsidiaries and associates of the ultimateparentOther related parties Thai/ForeignersSome common directors or related partiesof the Company hold their sharesMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024During the year ended 31 December 2024, due to changes in market conditions, there were transfer of financial assets measured at fair value of the Company from level 1 to level 2 amounting to Baht 619.4 million (2023: Baht198.7 million), and transfer from level 2 to level 1 amounting to Baht 5.4 million (2023: Baht 549.2 million).26 Related parties Relationships with key management and related parties were as follows:Country of incorporation/ Name of entities/person nationality Nature of relationships Key management personnel Thai/ Persons having authority and responsibility Foreigners for planning, directing and controlling theactivities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of the CompanyKasikornbank Public Company LimitedThailand Ultimate parent of companies in Kasikornbank Group Muang Thai Group Holding Company LimitedThailand Parent and holds 75.00% shareholding in the CompanyAgeas Insurance International N.V. Belgium Major shareholder MT Insure Broker Company Limited Thailand Subsidiary of the Company, and the Company has 99.99% shareholdingSovannaphum Life Assurance Public Cambodia Associate of the Company, and the Company Company Limited has 49.00% shareholdingNaya Residence Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingLivewell Living Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingDara Insurance PublicCompany LimitedCambodia Associate of the Company, and the Company has 25.00% shareholdingST-Muangthai InsuranceCompany LimitedLaos Associate of the Company, and the Company has 22.50% shareholdingCompanies in Kasikornbank Group Thailand Subsidiaries and associates of the ultimateparentOther related parties Thai/ForeignersSome common directors or related partiesof the Company hold their sharesMuang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 2024During the year ended 31 December 2024, due to changes in market conditions, there were transfer of financial assets measured at fair value of the Company from level 1 to level 2 amounting to Baht 619.4 million (2023: Baht198.7 million), and transfer from level 2 to level 1 amounting to Baht 5.4 million (2023: Baht 549.2 million).26 Related parties Relationships with key management and related parties were as follows:Country of incorporation/ Name of entities/person nationality Nature of relationships Key management personnel Thai/ Persons having authority and responsibility Foreigners for planning, directing and controlling theactivities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of the CompanyKasikornbank Public Company LimitedThailand Ultimate parent of companies in Kasikornbank Group Muang Thai Group Holding Company LimitedThailand Parent and holds 75.00% shareholding in the CompanyAgeas Insurance International N.V. Belgium Major shareholder MT Insure Broker Company Limited Thailand Subsidiary of the Company, and the Company has 99.99% shareholdingSovannaphum Life Assurance Public Cambodia Associate of the Company, and the Company Company Limited has 49.00% shareholdingNaya Residence Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingLivewell Living Company Limited Thailand Associate of the Company, and the Company has 40.00% shareholdingDara Insurance PublicCompany LimitedCambodia Associate of the Company, and the Company has 25.00% shareholdingST-Muangthai InsuranceCompany LimitedLaos Associate of the Company, and the Company has 22.50% shareholdingCompanies in Kasikornbank Group Thailand Subsidiaries and associates of the ultimateparentOther related parties Thai/ForeignersSome common directors or related partiesof the Company hold their shares66pyqyytrading transactions within 30 working days, by using the last bid price from Stock Exchanges of each country where securities are listed at reporting date. For non-listed unit trusts, fair value is calculated by using net asset value at reporting date. The Company does not adjust the last bid price or net asset value since the difference is not significant. The Company determines Level 2 fair values for derivative. The fair value for over-the-counter derivatives are based on counter party quotes.The Company determines Level 3 fair value for unquoted equity investment by using adjusted net asset method.The fair value of debts issued and borrowings are the market value or the present value of cash flows with discounting rates that reflect current interest rate risk and the Company's credit risk.26 Related partiesName of entities/personCountry ofincorporation/nationality Nature of relationships200 %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)