1 / 28

Company profile

Company profile. DHIPAYA INSURANCE PUBLIC COMPANY LIMITED. 1951 Dhipaya Insurance Public Company Limited was established on 9 November 1951 by H.E.Field Marshal Sarit Dhanarajata with a registered capital of 2 million bath.

xadrian
Download Presentation

Company profile

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Company profile • DHIPAYA INSURANCE PUBLIC COMPANY LIMITED

  2. 1951 Dhipaya Insurance Public Company Limited was established on 9 November 1951by H.E.Field Marshal Sarit Dhanarajata with a registered capital of 2 million bath. • 1964The Ministry of Finance appropriated some of the shares held by H.E.Field MarshalSarit and his wife. • 1975The Ministry of Finance appropriated some of the shares held by H.E.Field MarshalPrapas Charusatiara, making the Ministry a major shareholder of Dhipaya InsurancePublic Company Limited and making the company a state enterprise, under theMinistry of Finance.

  3. 1990Dhipaya moved to its new seven - storey headquarters located on 63/2 Rama IXRoad, Huay Kwang, Bangkok, and received recognition as an "outstanding" company. • 1993The Cabinet passed a resolution to distribute the Ministry of Finance's equity inDhipaya to the Government Savings Bank, Krung Thai Bank Public Company Limited and the Petroleu Authority of Thailand - leaving the Ministry of Finance withonly 5.24% of Dhipaya's equiy.

  4. 1994-1996Dhipaya increased its registered capital from 80 million baht to 240 million baht,comprising 24 million ordinary shares, each with a par value of 10 baht. Later, in March 1995, the Board of Directors passed a resolution, in accordance with the Seventh National Economic and Social Development Plan, to transform Dhipaya from a stateenterprise to a public limited company. Such a transformation was expected to result in an improved operational process, allowing the company to prepare for a free-trade insurance environment, under the GATagreement.Registration of the new public company at the Commercial.

  5. Registration Department of the Ministry of Commerce became effective on 18 October 1995, with major shareholders comprising the Ministry of Finance,Krung Thai Bank, the Government Savings Bank and the Petroleum Authority ofThailand. • 1999 The company was ISO 9002 certified by SGS Yarsley International CertificationServices Limited, England, making Dhipaya the first non-life insurance company toreceive ISO 9002 certification in all operation sectors

  6. 2001Dhipaya celebrated its 50th anniversary, while enjoying stability and continuousimprovement of its services. With the backing of its well-known and financiallystable shareholders, the company gains the confidence of both the public and private sectors, who then provided the company with many large projects. Such support has enabled the company to become one of the leaders in Thailand's non-life insurance business. Dhipaya was the second highest gross premium earner out of 77 non-life insurance companies, and produced the highest miscellaneouspremium in the kingdom.

  7. 2002Committed to continually developing its quality service, the company intiated and implement the ISO 9001:2000 quality management system in addition to the company's existing system. This helped the company to increase and improve itsservice standard and to become a leading premium service provider. Dhipaya alsolaunched Dhipaya Service Center (DSC) to increase its potential and provide a fully integrated and efficient service. The service Center is very convenient for customers who want to utilize an insurance service, or require further information,it also provides various advice over the telephone. In addition, Dhipaya opened aClaims Photo Center, Which allows automobile claim to be processed quickly

  8. The corporate's past performance reflects its competence and expertise in thenon-life insurance business. While doing business, the company is committed to, notonly providing excellent services, but also helping the communities in which itoperates. Dhipaya aspires, "To support society and improve its services as well asattaining the highest customer satisfaction, and maintainging their everlastingconfidence".

  9. Permanent Secretary to Ministry of Finance • Chairman of the Board of Directors of the Government Lottery Office • Chairman of the Board of Directors of the Government Savings Bank • Chairman of the Board of Directors of the Government Pension Fund CHAIRMAN • Mr.Somchainuk EngtrakulPermanent Secretary to Ministry of Finance • Chairman of the Board of Directors of the Government Lottery Office • Chairman of the Board of Directors of the Government Savings Bank • Chairman of the Board of Directors of the Government PensionFund

  10. Deputy Chairman Mr.Pichai Chunhavajira Senior Executive Vice President Corporate Finance & Accounting, PTT Public Co., Ltd. Member of the Board of The Bangchak Petroleum Public Co.,Ltd. Member of the Board of Aromatics (Thailand) Public co.,Ltd. Member of the Board of PTT MART Co.,Ltd.

  11. President, Bank for Agriculture and Agricultural Cooperatives (BAAC) Director • President, Bank for Agriculture and Agricultural Cooperatives (BAAC)

  12. Director • Senior Advisor to Commander, Armed Forces Development Command,Supreme Command Headquarters • Director of Bangkok Shipping and Trading Co., Ltd. • Director of Mitsui O.S.K. Lines (Thailand) Co., Ltd.(Thai - Japan Joint Venture Company)

  13. Advisor to the Board of Directors • Aide-De-Camp to Prime Minister General Prem Tinsulanonda • Commanding General of the 9th Infantry Division • Commanding General of the 1st Division, The King's Guards and 1st Corps • Chief of Joint Staff • Supreme Commander of the Royal Thai Armed Forces

  14. The Development of the organization into a Quality Management System • During the entire period of business operation, Dhipaya determines toimprove its working system continuously so that the customers and the public who have confidence in Dhipaya will get the best and efficient services. Hence Dhipaya introduced the quality management system, ISO 9002 practice throughout the organization, for example all types of underwriting, claims and other systems which are important to thecompany's business operations. In 1998 the Board of Directors approved the ISO 9002 project by appointing Prima Management Company as the project advisor who had to work together with Dhipaya 's steering committee, Quality Management Representative, Project Coordinator's, as well as Working Teams. The quality policy has been defined asFinancial Highlight

  15. Financial Highlight

  16. Total Assets

  17. Gross Premium Income

  18. Net Earnings

  19. 11111In 2002, the company earned a gross premium worth Baht 7,217.30 million,representingan increase of Baht1,131.82 million, or 18.60 percent. After deducting cancellations and refunds, the premiums stood at Baht 6,977.99 million, which can be categorized as follows :

  20. Fire Insurance • 1111111111In 2002, Dhipaya generated premiums worth a total of Baht 707.58 million under this category , which accounted for 9.80 percent of the total premiums. This represented a Baht 33.51 million, or 4.97 percent incerase. After deducting Baht 33.20 million worth of cancellations andrefunds, and Baht 269.05 million reinsurance premiums, the company's net fire premium earnings were Baht 405.33million. Moreover, after deducting claims paid and underwriting expenses, the net profit came to Baht 285.66 million.

  21. Marine and Transport Insurance • 1111111111Tatal marine and transport premiums in 2002amounted to Baht 182.07 million. Hull premiums accountedfor Baht 98.57 million, while cargo permiums stood at Baht 83.50 million representing 2.52 percent of the total premiumand indicating and increase of Baht 28.86 million from theprevious year, or 18.84 percent. This increase was a result of the company's extended underwriting services, provided for a wider range of mega-project clients. After deducting Baht 6.76 million in cancellations and refunds, as well as Baht 160.61million for reinsurance premiums, the net marine and transport insurance premiums was Baht 14.70 million.After deductingclaims and underwriting expenses the net profit for marine and transport stood at Baht 30.53 million.

  22. Motor Insurance • Dhipaya did not place a strong emphasis on enlarging its motor insurance portfolio, As a result, the company's total earnings in motor premiums, stood onlyat Baht 1,336.50million in 2002. This accounted for 18.52 percent of the company's total premiums, representing anincrease of Baht 115.72 million or 9.48 percent from theprevious year due to an increase in member of big projectclients, after deducting cancellations and refunds, which were valued atBaht 67.66 million,and reinsurance premiumsworth Baht 13.11 million, Dhipaya earned a netpremium of Baht 1,255.72 million, contributing to an underwriting profit of Baht 106.32 million.

  23. Miscellaneous Insurance • As for many consecutive years, miscellaneous insurance in 2002 was the top incomegenerator for Dhipaya,with a 69.16 percentage share of the total company's premiums. Total miscellaneous insurance premiums werevalued at Baht 4,991.15 million, at Baht 953.73 million, or 23.62 percent, increase, from 2001. This income boost was generated by major premiumadjustment, because of terrorist incidents in Bali, Indonesia, the attacks on the World TradeCenter in the United States and the floods in Europe.After deducting cancellations and refundsworth Baht 131.68million, as well as Baht 4,620.28 million for reinsurance premiums, a net amount of Baht 239.18 million was generatedby miscellaneous premiums. The underwriting profit, afterdeducting claims and underwriting expenses, was Baht 294.90 million.

  24. SERVICE • There are 2 types:1. Compulsory motor insurance under the protection of Motor Vehicle Accident Victims Act B.E. 2535 (1992) 2. Voluntary insurance (Comprehensive and Third Party)- Type 1 covers the liability for third party and the insured vehicle for example collision, loss, fire, etc.- Type 3 covers only the body injuries, loss of life and property damage of the third party. • Motor Insurance DepartmentTel. 02-248-0059, 02-6432900 Ext. 309, 310, 312-315, 318-320

  25. Fire insurance covers property damage of the insured caused by fire. These include stock of merchandise, furniture, machinery and buildings with the exclusion of the following items; silver bullion, gold bullion, jewelry, artifacts or arts objects with a value exceeding 2,000 baht, documents, architectural plans, pictures, currency and bond. In addition, one can purchase extra insurance covers for flood, storm, earthquake, and explosion.Fire Insurance DepartmentTel. 0-2248-0059, 0-2643-2900 Ext. 442-451, 453, 456, 460, 461, 481, 482, 484

  26. There are 2 types:1. Marine Cargo Insurance is the insurance for land, marine and air cargo transportation both via domestic and international routes. It covers damage by explosion, fire, vehicle collision, ship sinkings, ship running aground and airplane crash.2. Marine Hull Insurance covers the loss or damage of the ship, its engine and equipment resulting from gale, ship running aground shipwreck, ship collision and fire, etc. Marine Insurance DepartmentTel. 0-2248-0059, 0-2643-2900 Ext. 540-546

  27. This covers all risks which are not covered under motor insurance, fire insurance, marine insurance.It covers injury or damage to person and property including third party legal liabilities. • For example : Personal accident Insurance Travel accident Insurance Health Insurance Glass Insurance Money Insurance Golfer Insurance Burglary Insurance General Public Legal Liability Insurance Electronic Equipment Insurance Contract Works Insurance Workmen Compensation Insurance Fidelity Guarantee Insurance Machinery Insurance Aviation Insurance All risks Insurance • Miscellaneous Insurance DepartmentTel. 02-248-0059, 02-6432900 Ext. 422, 431-434

  28. Miss Jiraporn Kanjanalap ID 4531301013 Major Information Technology ninas013@hotmail.com

More Related