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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

b) Foreign exchange risk

The Company operates internationally and is exposed to foreign currency risk arises from
reinsurance with foreign insurance companies that are denominated in foreign currencies.
The Company has no forward exchange contract to reduce the exposure. However, the
management believes that the Company has no significant effect.

The Company’s exposure to foreign currency risk as of 31 December 2023 and 2022, expressed
in Baht are as follows:

2023
USD SGD JPY
Thousand Thousand Thousand
Baht Baht Baht

Cash and cash equivalents 17,044 - -
Amount due from reinsurance, net 40,894 - -
Other assets 94 - 269
Other liabilities - 8,543 674

2022
USD SGD JPY
Thousand Thousand Thousand
Baht Baht Baht

Cash and cash equivalents 23,528 - -
Amount due from reinsurance, net 39,100 - -
Other assets - - 193
Other liabilities 2,015 243 -

c) Equity price risk

Equity price risk refers to the loss affecting income and/or equity from a movement in equity price.

The Company’s exposure to equity securities price risk arises from investments held by The
Company which are classified either as at fair value through other comprehensive income (FVOCI).

Risk

The Company had risk from its investments in securities of which the price will change with reference
to market conditions. The Company will manage investment portfolios according to investment
plan approved by Investment Committee and Board of Directors, in accordance to investment policies
under related Notification of Office of Insurance Commission.

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