Climate Change Data

Environmental Metrics

ESG Focus Areas

• Social Responsibility
• Community Investment
• Environmental

Environmental Achievements

• Not disclosed

Social Achievements

• Continuous projects to build opportunities for rural children's education, assistance to various regions, CSR activities, support for victims, cash donations to hospitals, support for school building and renovation.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Decreased first-year premium income due to changes in product offerings.
• Increased life policy reserve requirements due to new regulations (Gross Premium Valuation).
• Balancing product mix to manage tax burden and maintain growth while providing appropriate returns to shareholders.
• Low return on investment due to low government bond yields and a focus on long-term investments to reduce risk.

Mitigation Strategies

• Careful consideration of short-term payment product offerings.
• Adjusting investment strategy to focus on long-term bonds to reduce risk charge and required capital.
• Extending the duration of fixed income to reduce risk charge and required capital.
• Developing new insurance products and sales channels (e.g., partnership with SME Bank).

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

Social Achievements

• Supported various activities under two main concepts: "Life Designed" (providing financial planning programs and knowledge to the public) and "BLA Happy Life" (creating happiness in five areas: health promotion, education and children's health, elderly care, environmental awareness, and arts and culture promotion).

Governance Achievements

• Established a Nomination and Remuneration Committee to select suitable candidates for board positions, considering their qualifications, ethics, and experience. The company also defined criteria for independent directors in line with good corporate governance principles.

Climate Goals & Targets

Environmental Challenges

• Uncertainty in the domestic and international macroeconomic environment, leading to uncertainty in future business projections. A slowdown in growth rate after several years of high growth.

Mitigation Strategies

• Focus on long-term products, high-coverage products, and health and critical illness coverage. Investment in corporate bonds due to higher returns than bonds, while managing risk with sufficient capital.

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• BLA Super Senior (insurance for the elderly)
• BLA Ready for Retirement (annuity-type life insurance)

Awards & Recognition

• Transparent Organization Award 2015
• Outstanding Consumer Complaint Center Award 2016 (Call Center)
• Member of the Thai Private Sector Collective Action Coalition Against Corruption
• 100/100 score for Annual General Meeting quality assessment, "Excellent + Exemplary"
• Corporate Governance rating (CG rating) of "4 stars" for 2 years

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Launched "Brighten up the Elders’ Vision" project, providing vision checks and glasses to over 4,000 elderly people.
• Organized "Bangkok Life Assurance Half Marathon 2017", with over 3,500 participants, raising funds for "Health Parks for a Happy Life"
• Conducted the 10th "BHappy3" project, improving school facilities and promoting hygiene among students.
• Provided relief aid to flood victims in Southern Thailand.

Governance Achievements

• Received a “very good” or “four-star” corporate governance rating from the Thai Institute of Directors for the fifth consecutive year.
• Received an “Excellent” rating for the quality management of its Annual General Meeting.
• Re-certified member of Collective Action Coalition against corruption (CAC).

Climate Goals & Targets

Environmental Challenges

• Uncertain global and Thai economic conditions.
• Low yields on Thai government bonds impacting investment income and insurance reserve funds.
• Increased competition in the life insurance industry.
• Low interest rates affecting investment returns and financial statement fluctuation.

Mitigation Strategies

• Adjusted investment, sales, and product development plans.
• Developed new products to meet customer needs and expand into online sales channels.
• Improved infrastructure and technology, including operational management and service facilities.
• Developed various services for better customer experience and strengthened business partnerships.
• Increased the proportion of investment in common stocks, property funds, infrastructure funds, and REITs.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 9001:2008, ISO/IEC 27001:2013, ISO 22301:2012

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Thailand’s Top Corporate Brand Values 2017 (3 consecutive years)
• Thailand Top Company Awards 2017 (3 consecutive years)
• Outstanding Consumer Complaint Solutions Center Award 2017

Environmental Metrics

Social Achievements

• Organized the Bangkok Life Assurance Half Marathon 2018, with proceeds going towards creating health parks and providing exercise equipment.
• Supported the Athletic Association of Thailand in the "Bangkok Life Assurance Youth Athletic Stars 2018" project.
• Supported the longboat racing tradition in Phichit Province.
• Supported the creation of candle carvings for the Ubon Ratchathani Candle Festival.
• Implemented the "BLA Happy Life Go Green" project within the organization, focusing on energy and paper conservation.

Governance Achievements

• Received a “4 stars” Corporate Governance rating from the Thai Institute of Directors Association for the 6th consecutive year.
• Received an “Excellent” rating for its 2017 Annual General Meeting.

Climate Goals & Targets

Environmental Challenges

• Low interest rate environment.
• Changes to the Bancassurance channel.
• Implementation of a new mortality table.
• Upcoming new financial reporting standards.
• Fluctuation in bond and equity markets due to stagnant economic growth and risks from foreign economic policies.

Mitigation Strategies

• Revamped product portfolio in Bancassurance channel.
• Increased protection and health insurance products in the sales mix.
• Improved sales strategy by increasing sales of protection products, reducing short-term portfolio, and improving rider attachment ratio.
• Applied investment strategy adaptive to changing business environments.
• Launched "BLA Happy Life Mobile Application".

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Thailand’s Top Corporate Brand Value (4 years in a row)
• Thailand Top Company Awards (3 years in a row)
• Thailand’s Corporate Brand Rising Star Award

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced paper usage through digitalization initiatives (e-Policy, e-Receipt, e-Pos, e-Claim, Non-cash payment, Smart App). Achieved 58.5% online proposal submissions in 2020, up from 27% in 2019.
• Designed new head office building with environmental considerations, including solar panels and vertical fins to reduce heat. Awarded one of the top 10 best-designed buildings by BCI Asia Awards 2020.

Social Achievements

• Launched BLA Every Care, providing comprehensive health services including telemedicine, to approximately 60,000 customers.
• Developed BLA Smart CI, a health and critical illness insurance plan with a health-promoting feature using a mobile application to track steps and earn rewards.
• Bangkok Life Assurance SMART Hospital Awards 2020 given to 11 partner hospitals for excellence in various aspects of healthcare services.

Governance Achievements

• Received a 5-star rating (Excellent) for Corporate Governance Assessment by the Thai Institute of Directors Association.
• Received an Excellent rating for Annual General Meeting Assessment by the Thai Investors Association and the Securities and Exchange Commission.
• Implemented a robust risk management system and internal controls, exceeding regulatory requirements.

Climate Goals & Targets

Environmental Challenges

• Economic slowdown in Thailand and globally.
• COVID-19 pandemic impacting consumer behavior and business operations.
• Fluctuations in interest rates and capital markets.
• Increased competition in the insurance industry, particularly in digital services.

Mitigation Strategies

• Adjusted product portfolio to focus on protection products and increase supplementary contracts.
• Improved agent quality and financial advisor teams through training and development.
• Developed and enhanced digital services through the BLA Happy Life mobile application.
• Expanded partnerships to balance sales channels.
• Implemented risk management strategies to mitigate market volatility and interest rate risks.
• Implemented business continuity plans to address operational disruptions caused by COVID-19.

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• BLA Smart CI insurance plan

Awards & Recognition

• Thailand’s Corporate Brand Rising Star 2013
• Thailand’s Top Corporate Brands (2015-2017)
• Company with the Best Health Insurance Coverage of the Year (2019)
• Top Community Care Companies in Asia (2020)
• Most Trusted Brand Award (2020)
• Product Innovation Awards 2020
• Prime Minister’s Insurance Awards (2019)

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Liquidity risks in the funds

Mitigation Strategies

• Implementation of Swing Pricing, Notice period, Redemption Gate, Side Pocket, and Suspension of dealings to manage liquidity risks.

Supply Chain Management

Climate-Related Risks & Opportunities