Good Corporate Governance
Conflict of Interest Prevention Policy
1. Purpose
To be a guideline for the Company’s personnel in performing their duties with honesty in accordance with ethical standards, and without seeking personal gain or benefits of related persons.
2. Scope
Personnel of Bangkok Life Assurance Public Company Limited and its subsidiaries (“the Company”) must study, understand, and strictly abide by this policy.
3. Effective Date
This policy shall be effective from the date of approval by the Board of Directors.
4. Review Frequency and Revision
This policy must be reviewed annually, or when a significant change arises.
5. Responsible Function
The Compliance Office is the responsible function of this policy.
6. Definition
“The Company” means Bangkok Life Assurance Public Company Limited.
“Subsidiary” means companies in which the Company holds shares directly or indirectly over 50% of voting shares.
“Personnel of the Company” means directors, executives, employees, and staff at all levels of Bangkok Life Assurance Public Company Limited and its subsidiaries.
“Conflict of Interest” means a situation where an individual's personal interests conflict with their duties and responsibilities. This may affect or lead to decisions or actions that are not in the best interest of the organization or stakeholders, and may result in unethical conduct and damage to the organization.
7. General Principle
The Company is committed to operating with honesty, transparency, and ethics, in accordance with the principles of good corporate governance. All business-related decisions must be transparent, verifiable, made with due care and prudence, and prioritize the best interests of the Company and its stakeholders. Therefore, the Board of Directors has established this Conflict of Interest Prevention Policy.
8. Requirement
8.1 Conflict of Interest Situation
A conflict of interest may arise in any situation where the Company and/or its directors, executives, and employees have a vested interest in decision-making in various situations, including:
| 8.1.1 | Conflict between the Company’s personnel and the Company Decisions made by directors, executives, and/or employees for their own benefit or the benefit of related parties, or any direct or indirect conflict of interest by directors, executives, and/or employees, resulting in damage to the Company, such as using or disclosing inside information to seek personal gain or the benefit of related parties, having a conflict of interest in related party transactions, or engaging in any actions that compete with the Company, etc. |
| 8.1.2 | Conflict between customers and the Company Decisions made by directors, executives, and/or employees may result in benefits for the Company at the expense of customers in an unfair manner. For example, the Company's products and/or services may create a conflict of interest with customers. In product development and system design, the Company should consider the true interests of its customers. |
| 8.1.3 | Conflict among customers A customer (or a group of customers) may have the opportunity to benefit or avoid harm, which would then affect another customer (or group of customers) of the same type or nature. The Company has a duty to act fairly in the best interests of all customer groups. |
8.2 Handling of Conflict of Interest
| 8.2.1 | The Company’s personnel should avoid any existing or potential conflicts of interest. |
| 8.2.2 | The Company’s personnel must report any existing conflicts of interest they are involved in, in accordance with the criteria and process established by the Company. |
| 8.2.3 | The Company establishes measures for preventing conflicts of interest and handling them if they occur. |
| 8.2.4 | The Company maintains records of all conflicts of interest. |
| 8.2.5 | The Company annually conducts training related to the Conflict of Interest Prevention Policy. |
9. Penalty
Violation of this policy is considered violation of the Company’s Code of Conduct for All Personnel and may constitute an offense against the Company's rules, as well as other applicable laws, regulations, rules, or requirements.
