Thai Setakij Insurance Public : Plan and Progress Report in Solving C Caution

TSI_SET 010/052022

		25 May 2022
SUBJECT	:	Plan and Progress Report in Solving C Caution
To	:	President,
		The Stock Exchange of Thailand

Thai Setakij Public Company Limited ("the Company") would like to inform that the Company has convened the Public Presentation to provide information to shareholders and related persons on 25 May 2022, 10.00 hrs. at Meeting Room 1, Thai Setakij Public Company Limited located at 87 M. Thai Tower, All Seasons Place, 15th Floor, Unit No. 1 and 4-6 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 as the Company's securities have been posted "C" sign ("Caution") due to the financial statements Q1/2022 (Ended 31 March 2022)has the proportion of shareholders' equity less than 50% of its paid-up capital. The essence can be summarized as follow:

Measures to Resolve the C Sign Listing

The Company has continued to implement a plan to resolve operational problems, which can be seen from the financial statements for Q1/2022 ending 31 March, 2022. The overall operating results showed a net profit of 0.72 million baht, compared to the same quarter of the previous year. has a net loss of 19.39 million baht, although the company's premiums grew slightly, but the performance improved. from insurance cost management and other expenses more efficiently

In terms of troubleshooting the "C", besides the improvements in the operating process, the Company has followed the guidelines for solving the problems. This is the same approach as corrective action in the past quarters, with progress of operations, Combined Ratio (COR) as of 31 March, 2022 decreased from 121.9 percent as of 31 December, 2021 to 112.6 percent at the end of Q1/2022. Loss Ratio from 48 percent to 47 percent.

Company's Direction

The Company continues to set targets to continuously increase premium income. By adding a marketing team and increase the number of brokers and agents through the addition of partners or sales channels Expansion of the Company's ability to accept work Including the expansion of the proportion of general casualty work, which is still the main goal of the company. By modifying the expansion model instead of more small Including increasing the management of insurance costs to be effective. Each gratuity Claims and Claims Management Expenses In terms of the development of claims services Claims structure has been revised to support future expansion projects. to meet

the needs and satisfaction of customers Technology has been used in the process that can be done. To increase speed and access to the services of the company.

The Company intends to proceed as detailed above. Fully and continuously for the benefit of all stakeholders both shareholders, customers, business partners as well as all executives and employees.

Please be informed accordingly.

Yours Faithfully,

(Miss. Alada Phaovibul)

Managing Director

Thai Setakij Insurance Public Company Limited