Message from the Executives

Message from the Executives. ThaiSri Insurance remains dedicated to provide truly competitive solutions. We aim to extend our range of products and services to suit the varying palettes of our customers. As a result, the company has been successful in expanding a number of insurance packages to fit with each customer group, for example, Motor Insurance, Fire Insurance, Miscellaneous Insurance, Marine Insurance, Property Insurance or Personal Accident Insurance. Apart from increasing our basket of offerings, we have taken several initiatives towards improving and developing exceptional service to our customers.

Thailand economy in the first three quarters in 2004 grew incredibly. However, by year-end, there were unexpected crises, the floating of oil price and the tsunami, which greatly affected the Thai economy. However, ThaiSri insurance was able to pass those crises without much impact on its business. In addition, the company had changed the shareholder structure in December 2004 in which the Panichewa family had acquired stock from an existing shareholder, Zurich Financial Services Group. This made the Panichewa family the major shareholder, which led to the change of the company’s name from Thai Zurich Insurance Co., Ltd. to ThaiSri Insurance Co., Ltd. The consequence of this change caused no negative impact on the overall business. On the contrary, we had more flexibility in management and decision-making. With this professional management, the company had an honor to have Mr. Sirin Nimmanahaeminda, one of Thailand’s top ranked executives, to be the Chairman of the Board of Director. Furthermore, the company’s financial strength and stability is solid and stable comparable to an international standard which is shown in our company capital reserve.

Competition within a non-life insurance industry remains intense as industry players strive for bigger pieces of the pie. Despite this fierce competition, ThaiSri was not only able to maintain its market share but also to create business growth. Our success in 2004 was the result of the hard work of our employees. We would like to take the opportunity to thank all contributions of the ThaiSri Family for their commitment and continuous dedication to the company. Furthermore, we would like to extend our gratitude to our customers, intermediaries, and shareholders for their continuous support.

The industry is in full gear and ThaiSri has stepped on the accelerator. We are looking forward to the exciting prospects of 2005 and are ready to gain even more momentum. We are confident that ThaiSri will excel even further together with you in the coming years

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Mr. Chartchai Panichewa

The President

ThaiSri Insurance Co., Ltd.

Mr. Bruno G. Odermatt

Chief Executive Officer

ThaiSri Insurance Co., Ltd.