English to Chinese Other Marketing

Key observations:
• Gross Written Premium (GWP) growth slightly ahead of budget, representing underlying growth in GWP of 5% year on year. This is a good result in light of continuing market tightness in our key market of Thailand.
• Strong Net Profit Before Tax (NPBT) performance (470K better than budget YTD, and 1.2m better than budget in September 07) but almost entirely driven from more than double the budgeted return on Investments in both Thailand and Malaysia.
• ***Poor underwriting result*** (loss of $1.2million versus budgeted profit of $343k) reflecting $2.5million adverse claims and $280k adverse Administration expenses.

Thank you in advance!