"There are 66 non-life insurance companies in
The insurance industry is expected to face mounting pressure from higher tariffs and deregulation in Asean, which could be a threat to small-scale insurers or those without much capital.
The company invests in both life and non-life insurance companies. It holds a 20.17% stake in Alliance Ayudhya Assurance (Azay), and 99.99% in
The company's earnings likely grew at a slow pace for the first six months as the slump in domestic car sales lowered demand for insurance policies. Motor insurance contributes around 60% of
For the first quarter, the company reported net profit of
"We are also looking for long-term investment opportunities in equities, bonds, and the insurance business," he said.
Mr Chusak said operating performance is expected to recover in the second half as car sales are projected to pick up. Its earnings are expected to hit a record high this year, thanks to the one-off gain from a divestment in the third quarter.
AYUD's shares jumped 70% over the past five months. They closed unchanged on the SET on Friday at
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