Page 129 - TGIA_AnnualReport2013

Thai General Insurance Association

Financial Statement (Cont.)

As at December 31, 2013

Baht

Liabilities and Accumulated Fund Notes 2013 2012
Current Liabilities

Accrued Expenses 3,710,650.36 3,366,482.12

Reserve deposit from member companies 6,667,548.46 7,238,043.65

Reserve deposit for Main crop rice insurance project 10 1,064,400.52 2,274,739.00
Expense reserve 11

7 committees 37,031,336.99 47,743,683.19

Central 24,639,361.63 37,306,596.50
Total Expense Reserve 61,670,698.62 85,050,279.69

Total Current Liabilities 73,113,297.96 97,929,544.46

Non Current Liabilities

Staff welfare obligations 12 4,891,713.00 4,308,134.00
Total Liabilities 78,005,010.96 102,237,678.46

Accumulated Fund

Fund transferred from the former insurance association 331,818.43 331,818.43
General reserve 1,793,091.82 1,617,916.06

Accumulated fund 13 17,868,964.44 17,868,964.44

Working fund 14 1,000,000.00 1,000,000.00

Reserve for New Premises of the Association 15 40,000,000.00 -
Reserve for Contingency 16 2,369,600.00 -

Accumulated incomes higher than expenses 19,548,297.71 12,377,072.36

Total Accumulated Fund 82,911,772.40 33,195,771.29
Total Liabilities and Accumulated Fund 160,916,783.36 135,433,449.75

Note to financial statement is a part of this financial statement

(Mr. Anon Vangvasu)
President

สมาคมประกันวินาศภัยไทย | Thai General Insurance Association 127