Page 162 - รายงานประจำปี 2566

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

2022
Liabilities
Insurance recovered from
liabilities reinsurers Net
Thousand Thousand Thousand
Baht Baht Baht

Long-term insurance liabilities 3,479,165 - 3,479,165
Loss reserves and outstanding claims
- Incurred and reported claim reserves 4,490,139 (1,077,732) 3,412,407
- Incurred but not reported claim reserves 525,803 (414,317) 111,486
Total claim reserves 5,015,942 (1,492,049) 3,523,893
Premium reserves
- Unearned premium reserves 9,348,697 (1,419,968) 7,928,729

Total 17,843,804 (2,912,017) 14,931,787
Long-term insurance liabilities

2023 2022
Thousand Thousand
Baht Baht

Beginning balance of the years 3,479,165 3,116,450
Increase in reserve of new insurance policies and
inforce insurance policies 1,384,376 2,131,220
Decrease from benefits payment (287,764) (523,264)
Change in actuarial assumptions 20,266 22,724
Other changes (1,092,392) (1,267,965)

Ending balance of the years 3,503,651 3,479,165

Short-term insurance liabilities

1) Loss reserves and outstanding claims
2023 2022
Thousand Thousand
Baht Baht

Beginning balance of the years 5,015,942 4,287,776
Claim incurred in this years 10,064,964 9,324,076
Changes in claim reserves incurred
in previous year (181,347) (666,542)
Changes in claim reserves assumptions (206,374) 62,295
Claim paid in this year (9,222,826) (7,991,663)

Ending balance of the years 5,470,359 5,015,942

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162 | รายงานประจำาปี 2566 | ANNUAL REPORT 2023