It will expand its base by tapping Japanese operators, investors, expatriates and Thai employees working for Japanese companies.
Senior clients will also be a key segment as
However, the company will initially study the feasibility of neighbouring markets. Such countries generally take some time to develop insurance services, while priorities are loans and infrastructure development.
"Initially, the company plans to build up our brand awareness among migrants and regional business operators working in
Thai Life, the country's fourth-largest insurer in terms of premiums, is paying more attention to risk management under the fragile economic rebound.
It has a strong capital adequacy ratio of 500%, far higher than the
The company recorded lower premiums in the first half of this year, citing poor economic conditions.
In addition, a delay in payments to farmers under the former government's rice-pledging scheme was another negative factor affecting the sales of the company's insurance policies, particularly upcountry.
The insurer expects to book flat growth of premiums this year.
(c)2014 the Bangkok Post (Bangkok, Thailand)
Visit the Bangkok Post (Bangkok, Thailand) at www.bangkokpost.com
Distributed by MCT Information Services