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essage from the President

In 2010, the overall Thai economy had been The improvement in economy has affected a
directly and indirectly affected by several social and growth in general insurance business. According to the
economic situations, especially the political unrest in last figures released by the Office of Insurance Commission
May when the country saw major loss of life, injuries (OIC), the premium income in general insurance
and properties. The general insurance business had business in the first half of 2010 grew by 7.4%, compared
participated by providing a primary relief in the form of with the same period of 2009, the strongest growth since

financial support to retail insured who were affected 2005. Marine and transportation led other segments with
by the unrest as seen appropriate according to the an impressive growth of 21.2%, compared with fire, motor
business condition of the company, although the losses and miscellaneous insurance. However, motor insurance
were not covered by the policy. remains on the top with net premium income which
accounted for about 70% of total income. The combined
Economic experts from the of the Fiscal Policy premium income of property, third party liability, personal
Office (FPO), the Office of the National Economic and accident and health insurances in the first half of 2010
Social Development Board (NESDB), the Bank of constituted 21.4% of the entire direct income. It is
Thailand (BoT) and the World Banks assessed that the expected that in 2011, the general insurance business
Thai economy in the past year in general grew in a range will grow by about 7.4%, compared with premium
between 5.0%–7.5%, based on many key indexes such income of 2010. I am, therefore, confident that the
as an expansion of export volume of more than 7.0% and general insurance business still has more room to grow
the rate of consumption in business sector which was as many agencies have already projected continuing
one of the key economic driving forces. According to the growth in all sectors of economy such as investment and
FPO, the rate of private consumption constituted more imports and exports of industrial and agricultural
than a half of the country’s gross domestic product products. The expansion in these sectors will drive the
(GDP). Private consumption that began to pick up since general insurance business to grow further, particularly
a period of January to June accounted for an increase of the Marine Insurance and Logistics and Property
5.3%. Insurance. Improvement in service quality, technology
and personnel quality can effectively support and ensure
the growth in sustainable manner.

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