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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
10 Reinsurance assets
2023 2022
Thousand Thousand
Baht Baht
Insurance reserve recovered from reinsurers
Loss reserves 1,833,247 1,492,049
Premium reserves
- Unearned premium reserves (UPR) 1,472,265 1,419,968
Reinsurance assets 3,305,512 2,912,017
Claim reserve refundable from reinsurers
2023 2022
Thousand Thousand
Baht Baht
Beginning balance for the years 1,492,049 1,310,572
Claim refundable incurred during the years 1,084,749 887,629
Changes in estimation of claim refundable relating
to prior years 185,480 (46,099)
Changes in assumptions for claim reserve refundable
calculation (3,642) 77,721
Claim refundable received during the yea (925,389) (737,773)
Closing balance for the years 1,833,247 1,492,049
Premium reserves refundable from reinsurers
2023 2022
Thousand Thousand
Baht Baht
Balance as at beginning of the years 1,419,968 1,373,628
Ceded premium for the years 4,211,467 3,915,594
Ceded premium recognised as expense for the years (4,159,170) (3,869,254)
Balance as at end of the years 1,472,265 1,419,968
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รายงานประจำาปี 2566 | ANNUAL REPORT 2023 | 151
