Statement of Earnings by liaoqinmei

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									Statement of Earnings

For the period of 3 months ended 31st March
(Unit: Thousand Baht except earnings per share expressed in Baht )


.                                                                2003                                             2002
.                        Life                              Non Life                                  Total       Total
                                                 Marine and
.                          .         Fire                      Motor        Misc       Total            .           .
                                                Transportation
UNDERWRITING
                                .           .                .          .          .             .           .            .
INCOME

Premium Written         34,239      516,654            66,827 44,081 147,374           774,936       809,175     813,715

Less: Premium           (2,114) (197,733)            (16,139)     (480) (35,472) (249,824) (251,938) (256,097)
Ceded
Net premium             32,125      318,921            50,688 43,601 111,902           525,112       557,237     557,618
written
Life policy and          1,387      (36,671)          (1,387) 12,194         (709)     (26,573)      (25,186)    (40,527)
unearned premium
reserve (increase)
decrease from
previous period
Total underwriting      33,512      282,250            49,301 55,795 111,193           498,539       532,051     517,091
income
UNDERWRITING
EXPENSES
Losses incurred         19,471       79,492            23,779 17,226        62,947     183,444       202,915     202,354
during the period
Commissions and          9,868      137,780            18,990 11,789        38,535     207,094       216,962     212,034
brokerages
Other expenses                  -       294                36     1,262       169        1,761         1,761            428
Total underwriting      29,339      217,566            42,805 30,277 101,651           392,299       421,638     414,816
expenses
EARNINGS ON              4,173       64,684             6,496 25,518         9,542     106,240       110,413     102,275
UNDERWRITING
INVESTMENT
INCOME
Interest and                                                                                          51,141      46,539
dividends
Gain on securities                                                                                          25     9,239
trading
Total investment                .           .                .          .          .           ...    51,166      55,778
income
INVESTMENT                      .           .                .          .          .             .    (2,021)     (1,947)
EXPENSES
EARNINGS ON                     .           .                .          .          .             .    49,145      53,831
INVESTMENT
TOTAL                .   .   .   .   .   .   159,558    156,106
EARNINGS ON
UNDERWRITING
AND
INVESTMENT
SHARE OF LOSS        .   .   .   .   .   .    (1,415)     (966)
OF ASSOCIATED
COMPANIES
OTHER INCOME                                     503      2,177

OPERATING            .   .   .   .   .   .
EXPENSES
                     .   .   .   .   .   .    12,508     14,054
Personnel expenses

Premises and         .   .   .   .   .   .     3,362      3,768
equipment expenses
Taxes and duties     .   .   .   .   .   .        12         11
Directors'           .   .   .   .   .   .       450        375
remuneration
Other expenses       .   .   .   .   .   .     4,111      3,508
Total operating      .   .   .   .   .   .    20,443     21,716
expenses
EARNINGS             .   .   .   .   .   .   138,203    135,601
BEFORE INCOME
TAX
CORPORATE            .   .   .   .   .   .   (26,773)   (25,939)
INCOME TAX
NET EARNINGS         .   .   .   .   .   .   111,430    109,662
FOR THE PERIOD
.                    .   .   .   .   .   .

BASIC                .   .   .   .   .   .
EARNINGS PER
SHARE
Net earnings         .   .   .   .   .   .      1.10       1.09
Weighted average         .   .   .   .   .   101,164    101,061
number of ordinary   .
shares (Thousand
shares)

								
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