Page 131 - TGIA_AnnualReport2014

Thai General Insurance Association
Statement of Income Higher than Expenses

For the year ended on 31, December 2014

Baht
2014 2013
Incomes
Membership fee under Section 9.2 1,775,000.00 1,805,000.00
Membership fee under Section 9.3 89,797,000.00 87,315,977.00
Membership fee under Section 9.4 - Property 2,400,000.00 909,371.00
- Marine and Logistics 1,950,000.00 1,253,493.00
- Motor 17,725,000.00 30,308,245.00
- Misc, Accident and Health 2,000,000.00 959,046.00
Committees' Incomes 305,610.55 525,527.31
Incomes from the Office of Arbitrators 5,432,546.89 4,585,317.07
Reversing of doubtful debts - 2,237,811.21
Interest Receivables 3,424,759.59 2,597,690.19
Misc Incomes 433,919.53 633,782.01
Total Incomes 125,243,836.56 133,131,259.79
Expenses
Development and Public Relations Committee 8,987,800.21 7,720,755.97
Accounting, Finance and Investment Committee 1,221,625.70 2,081,874.98
Legal and Compliance Committee 1,032,426.27 1,870,862.30
Property Insurance Committee 4,089,938.11 1,013,694.47
Marine Insurance and Logistics Committee 1,861,219.80 1,554,621.84
Motor Insurance Committee 20,382,788.25 32,793,333.85
MiscelIaneous, Accident and Health Insurance Committee 927,871.91 1,340,548.36
The Insurance Premium Rating Bureau 12,323,691.91 11,696,361.03
The Office of Arbitrators 7,545,847.81 7,075,164.73
Administrative Expenses 36,263,171.21 38,552,865.48
Deficits from Actuarial Commutation 1,793,085.00 -
Doubtful debts 325,975.00 -
Other expenses 2,532,119.93 1,269,932.50
Total Expenses 99,287,561.11 106,970,015.51
Incomes higher than expenses before reserving for central and committee expenses 25,956,275.45 26,161,244.28
Plus Reserving for Central and Committee Expenses 13,746,566.36 23,379,581.07
Less Reserve for New Premises of the Association 16 (31,000,000.00) (40,000,000.00)
Less Reserve for emergency case 17 (2,150,000.00) (2,369,600.00)
Incomes higher than expenses 6,552,841.81 7,171,225.35

Note to financial statement is a part of this financial statement

(Mr. Anon Vangvasu)
President

สมาคมประกันวินาศภัยไทย | Thai General Insurance Association 129