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R eport of the Association’s Activities

1. Insurance for Society Project 5. The 25 East Asian Insurance Congress
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The General Insurance Association, the Office of The General Insurance Association assigned the

Insurance Commission (OIC) and general insurance following delegates to attend the 25 East Asian Insurance
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industry implemented the Insurance for Society Project Congress (EAIC), held between October 18–22, 2010 in
to commemorate the 55 birthday of HRH Princess Bali, Indonesia.
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Sirindhorn by organizing a charity bowling tournament 1. Mr. Jiraphant Asvatanakul, President as Chief

on August 8, 2010 at the BLU-O RHYTHM & BOWL @ Delegate

Esplanade on Ratchdapisek road. The event generated 2. Mr. Tinawat Supapholsiri as the Panelist

a total of 550,000 Baht. The proceeds shall be donated 3. Mr. Nopadol Santipakorn, Chairman of Motor

as follows: Insurance Committee as the Panelist.

1) Charity fund for HRH Princess Sirindhorn 250,000
Baht 6. Risk-Based Capital: RBC
2) Mahavajiralongkorn Foundation (Artificial leg/arm) In 2010, the Office of Insurance Commission (OIC)

150,000 Baht instructed insurance companies to carry out the 1 RBC
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3) Chulalongkorn Hospital Foundation (For Craniofacial Parallel Test Run, based on the business information

Foundation) 150,000 Baht as of December 31, 2009 and to submit the results of the
test-run to the OIC within July 31, 2010. After that, the
2. Relief for Flood Victims RBC Steering Committee had organized the meeting
The General Insurance Association donated an No.1/2553 on October 28, 2010 to discuss the plan to

amount of 750,000 Baht on November 30, 2010 to the help insurance companies prepare their personnel,
Rajaprachanukrau Foundation through Mr. Kwankaew information system, working procedures and capital

Watcharothai, the Chairman of the Foundation. fund for the implementation of RBC.
6.1 Results of the Parallel Test Run
3. Claim Payments and Financial Assistance To the (1) A number of 66 general insurance companies

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Insured Affected by Political Unrest in May 2010. out of the total 70 companies joined the 1 RBC Parallel
The General Insurance Association had requested Test Run and all have submitted the results to the

insurance companies to participate in a project to Office of Insurance Commission. The number of companies

provide financial assistance to the insured who were with Capital Adequacy Ratio (CAR) exceeding 100% is

affected by the political unrest during the month of 63.

May 2010 as deemed appropriate by those companies. (2) Total Capital Requires in general insurance
business are as follows:
4. The 36 ASEAN Insurance Council Meeting - Insurance risk is 40% with auto insurance
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Mr. Jiraphant Asvatanakul, President of the General as a major risk and accounted for 56% of total insurance
Insurance Association and Mrs. Siriporn Surotjanakul, risk.

Assistant Manager for Technical Department, attended - Market risk was 26% with the risk involving

the 36 ASEAN Insurance Council Meeting at Makati with bond price change as major risk that accounted for
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Shangri–La, Manila, Philippines between November 66% of market risk.
24–26, 2010. - Concentration risk was 20% with bond

Annual Report 2010 122

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