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Tokio Marine Safety Insurance (Thailand) Public Company Limited
Notes to the Financial Statements

Tokio Marine Safety Insurance (Thailand) Public Company Limited
For the year ended 31 December 2023
Notes to the Financial Statements
For the year ended 31 December 2023

1 General information

Tokio Marine Safety Insurance (Thailand) Public Company Limited (“the Company”) is a public limited
company which is incorporated and domiciled in Thailand. The address of the Company’s registered
office is as follows:

2 - 6 Floors, S&A Building, No.302 Silom Road, Suriyawong, Bangrak, Bangkok.
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The Company has 93 branches. The principal business operation of the Company is the provision
of non-life insurance.

The Company has a shareholding structure as follows:
Shareholding portion
Shareholder Country Type of share (%)
Tokio Marine & Nichido
Fire Insurance Co., Ltd. Japan Ordinary 48.83
TMF Holding (Thailand) Limited Thailand Ordinary 25.25
NHCT Ltd. Thailand Ordinary 25.20
Tokio Marine Asia Pte. Ltd. Singapore Ordinary 0.05
Others Thailand, China, USA,
Japan and Singapore Ordinary 0.67

Total 100.00
The financial statements were authorised for issue by the Company’s board of director on 26 March 2024.

2 Basis of preparation

The financial statements have been prepared in accordance with Thai generally accepted accounting
principles under the Accounting Act B.E. 2543, being those Thai Accounting Standards (TAS) and
Thai Financial Reporting Standards (TFRS) issued under the Accounting Profession Act B.E. 2547.
In addition, the financial statements presentation are also based on the formats prescribed in the Notification of
the Office of Insurance Commission entitled “Standards, methods, rules and deadlines for the preparation
and submission of the financial statements of non-life insurers B.E.2566” dated on 8 February 2023
(“OIC Notification”).

The financial statements have been prepared under the historical cost convention except as disclosed
in the accounting policies below.

The preparation of financial statements in conformity with Thai generally accepted accounting principles
requires the use of certain critical accounting estimates. It also requires management to exercise its
judgement in the process of applying the Company’s accounting policies. The areas involving a higher
degree of judgement or complexity, or areas where assumptions and estimates are significant to the
financial statements are disclosed in note 7.

An English version of the financial statements has been prepared from the statutory financial statements
that are in the Thai language. In the event of a conflict or a difference in interpretation between the two languages,
the Thai language statutory financial statements shall prevail.

126 | รายงานประจำาปี 2566 | ANNUAL REPORT 2023 9