KASIKORNBANK Financial Overview
K
EXCELLENCE
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
KBank's Strategic Acquisition in Muangthai Group Holding (MTGH)
Before: 10% Stake in MTGH
Currently: 51% Stake in MTGH after Acquisition
6.0%
10.0%
Group A
Persons
KBank
Swiss Re
Fortis
KBank
25.0%
65.05%
10.0%
4.95%
20.0%
51.0%
MTFH*
25.2%
75.0%
53.7%
2.0%
98.0%
100.0%
MTI*
MTL*
MTR*
PL⭑
MTB*
MTGS*
Note:
KBank's Economic Interest
MTL
MTFH
10.0%
MTI
8.5%
7.5%
MTB
9.8%
Group A
Persons**
41.2%
MTGH*
Ageas***
7.8% 25.0%
19.9%
75.0%
99.0%
MTI*
MTL*
MTB*
KBank's Economic Interest
MTGH
51.0%
MTI
10.1%
MTL
MTB
38.3%
50.5%
* MTFH = Muangthai Fortis Holding Company Limited, MTL = Muang Thai Life Assurance Company Limited, MTI = Muang Thai Insurance PCL, MTR = Muangthai Real Estate PCL, MTB = Muangthai
Broker Company Limited, MTGS = Muangthai Group Service Company Limited, PL = Phatra Leasing PCL, Group A Persons Group of retail shareholders; Muangthai Fortis Holding (MTFH) changed its
name to Muangthai Group Holding (MTGH) in July 2009
** The details of Group A Persons can be found in Appendix A of Opinion Report of the Independent Financial Advisor Regarding to Connected Transaction
*** Fortis Insurance International NV changed its name to Ageas in 2010
Source: Information from the General Meeting of Shareholders No. 97, April 3, 2009
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Statements of Comprehensive Income (Bt bn)
2011
2012
Net premiums earned
37.1
47.6
Net investment income
5.2
6.4
Total revenues
42.3
54.0
K
EXCELLENCE
ประกันชีวิต
ALANG THE LIVE AUDRANCE
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
Muang Thai Life Assurance (MTL) Information Summary
Established on 6 April, 1951. The first life insurance company to be granted Royal Patronage (since 1959)
Joined hands with Fortis Insurance International NV (changed name to Ageas in 2010) in 2004 and joined hands with KBank in 2005
Credit Rating: BBB+/Stable and axA+ (ASEAN) from S&P's, AA+(tha)/Stable / BBB+/Stable from Fitch Ratings
Life Insurance Company with Outstanding Management Award from OIC five years in role
Strategy in 2013
Continue to enhance process efficiency and service quality as
well as developing new products and services to effectively
satisfy the needs of all customer groups
1Q13
14.1
1.9
16.0
Life policy reserve increase from the previous period
21.0
28.0
8.5
Benefits payments to life policyholders
5.9
6.9
2.0
Insurance claims and loss adjustment expenses
1.9
1.9
0.5
2013 Key Financial Targets
Commissions and brokerages
6.3
8.4
2.5
Bt bn
2011
2012 2013F
Other underwriting expenses
0.3
0.4
0.1
Total Premium after refund
37.9
48.9
Operating expenses & Other
2.5
2.8
0.7
Total Expenses
37.9
48.5
14.3
% Growth
28%
29% >Industry growth
Profit before income tax expense
4.4
5.6
1.7
Income tax expense
1.5
1.4
0.3
Net profit (loss)
2.9
4.1
1.4
ROE (%)
Statements of Financial Position (Bt bn)
2011
2012
1Q13
ROA (%)
Total Assets
116.4
151.9
165.1
Risk-Based Capital (RBC)
2011
21.1%
2.8%
319.8%
2012
22.8%
3.1%
436.6%
1Q13
23.7%
3.4%
439.6%
Total Liabilities
101.5
130.5
141.4
Total Equities
14.9
21.4
23.7
Source: Muang Thai Life Assurance, data based on book value except for RBC
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