Krungthai-AXA Life Insurance Co.,Ltd.

The world today – stock markets crumbling, oil prices rockets, and companies struggling. Krungthai-AXA Life is happy to report the first half-year results follows the excellent trends set in the last half of 2007 with major success in the two key measures set by both shareholders: 1. Statutory profits are 121% of plan and a massive 4,589% of last year. In addition, the fee income paid to KTB at the end of June and is 165% of plan and 334% of last year. 2. Appraisal Value is Baht 14.9 billion at the end of June. This represents 108% of plan and 199% of last year. The positive contributors to these results are: 1. Distribution success in all channel with NBI for the half year of Baht 1,662 million (more than the full year 2006). This is 111% of plan and 151% of 2007 results. The increase of NBI is positively driving both the profit and value measures. a. The support given by KTB is excellent, especially in the synergy workshops with top KTB management attending to help establish branch based business plans. Bancassurance is currently contributing NBI of Baht 688 million (41% of total company production, 141% of plan and 253% of last year). b. Agency is the most productive independent sales team in Thailand (and for AXA Asia). At the half-year they produced NBI of Baht 879 million or 53% of the total production of the company. This is 102% of plan and 123% last year. Manpower has grown steadily to over 6,500 and an increase on average case size suggests that we are hitting a higher market than previously. c. Alternative Distribution is showing excellent results versus plan. Our new head of Alternative Distribution is now successfully opening up connections in the Broker market and we are building a competent worksite team. 2. Strong financial management has turned around our financial results in just 12 months. The Management Expense ratio is well under control – an excellent results driven by both sales and financial management success. The variable expense (commissions) is well with available loadings – the saving contributes directly to our profit result. Overall the company’s financial management is looking strong. 3. Operationally we have also improved our productivity significantly. Using the measure of case issuance, productivity is 136% of last year. We continue to invest in people development to drive productivity improvement through skill development and change management of work processes. Besides the aggressive sale growth, we have also recognized our responsibility to focus on giving back to the community where we live and work. We have joined hands with Khun Meechai Veerawithaya of People Development Association (PDA) since 2007 for community development project at Baan Phaya Yen village, Nakhon Rachasrima province. This is a long-term project aiming to build self-esteem for people in the village and earn their living with the help of a micro financing project. We also encourage them to save the world with 1 tree in exchange of every $1 dollar fund supported by Krungthai AXA. The company and all employees will plant around 30,000 trees in August. In addition, we also focus on helping underprivileged children through Krungthai-AXA Hearts in Actions program. This program represents an excellent way of rallying staff, while also helping the company to open up to the community as it will helps building bridge between existing community and Krungthai-AXA's staff who want to get involved and volunteer in solidarity and social actions. The company again joined hand with PDA to provide medical check up and eyes glasses as well as medical supplies for 300 children who have eyesight problem in rural areas. Above and beyond, Krungthai-AXA Life does not focus only in human but also in animals. The company also united with SCAD (Soi Cats and Dogs) with support from Natalie Glebova as a SCAD brand ambassador to fund raising to help more than 800,000 cats and dogs in Bangkok area. Thus, the company has recognized and encouraged staffs to get involved in one of uniquely corporate social activity in accordance for cleaner, safer, and healthier environment. Future Outlook Whilst the market is predicting a slow year (single digit growth) we believe the outlook for KAL for the year is good because of the solid fundamentals demonstrated year-to-date. With good support from the bank and the continued strong performance from Agency we are predicting sales will exceed plan this year. Krungthai-AXA is committed to becoming the preferred company. We will achieve this through employee engagement and customer centricity. Hence, the customer service is the core strategy to enhance our capability in 2008 and beyond. We do this to ensure the satisfaction of more than half a million customers nationwide. We are also focusing on people development and bringing in new technology to improve communication and service provided to our customers and our agents so we can deliver our promises with fast, accurate and reliable operation. Strong service will accelerate on the road to Ambition 2012. Contact Media: +66-2723-4000 ext. 3525 Sukanya Isaranuwatchai, Krungthai – AXA Life Insurance Co., Ltd. Email: [email protected]

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