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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

28 Transactions with related parties

Enterprises and individuals that directly, or indirectly through one or more intermediaries, control, or
are controlled by, or are under common control with, the Company, including holding companies, subsidiaries
and fellow subsidiaries are related parties of the Company. Associates and individuals owning, directly
or indirectly, an interest in the voting power of the Company that gives them significant influence over the
enterprise, key management personnel, including directors and officers of the Company and close
members of the family of these individuals and companies associated with these individuals also
constitute related parties.
In considering each possible related party relationship, attention is directed to the substance of the relationship,
and not merely the legal form.
For the purposes of these financial statements, parties are considered to be related to the Company
if the Company has the ability, directly or indirectly, to control or joint control the party or exercise significant
influence over the party in making financial and operating decisions, or vice versa, or where the Company
and the party are subject to common control or common significant influence. Related parties may be individuals
or other entities.
Relationships with key management and other related parties were as follows:

Country of
incorporation/
Name of entities/person nationality Nature of relationships
Key management personnel Thailand/ Persons having authority and responsibility
Foreigners for planning, directing and controlling
the activities of the entity, directly
or indirectly, including any director
(whether executive or otherwise)
of the Company.
Tokio Marine Holdings, Inc. Japan Ultimate parent company of the Group
Tokio Marine & Nichido Fire Insurance Co., Ltd. Japan A parent company, 48.83%
shareholding
Tokio Marine Asia Pte. Ltd. Singapore Shareholder of the Company, 0.05%
shareholding and affiliated company
of the Group
TMF Holding (Thailand) Limited Thailand Shareholder of the Company, 25.25%
shareholding and affiliated
company of the Group
NHCT Ltd. Thailand Shareholder of the Company, 25.20%
shareholding and affiliated
company of the Group
Tokio Management Services (Thailand) Co., Ltd. Thailand Affiliated company of the Group
Tokio Marine South East Servicing Co., Ltd. Thailand Affiliated company of the Group
Tokio Marine Life Insurance (Thailand) Public Thailand Affiliated company of the Group
Company Limited
Tokio Marine Insurance Broker Co., Ltd. Thailand Affiliated company of the Group
Tokio Marine Europe Insurance Co., Ltd. United Kingdom Affiliated company of the Group
Tokio Marine Global Re Asia Ltd. Malaysia Affiliated company of the Group
Tokio Marine Global Re Limited (Ireland) Ireland Affiliated company of the Group
TM Claims Service Asia Pte. Ltd. Singapore Affiliated company of the Group
Tokio Marine Compania De Seguros S.A. De C.V. Mexico Affiliated company of the Group
Tokio Marine Management (Australia) Pty. Ltd. Australia Affiliated company of the Group
Tokio Marine Insurans (Malaysia) Berhad Malaysia Affiliated company of the Group

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รายงานประจำาปี 2566 | ANNUAL REPORT 2023 | 173