Thai Life Insurance to expand business

BANGKOK, February 22 (TNA) - Thai Life Insurance Public Co., Ltd. is looking to expand business to Thailand’s neighbouring countries including Cambodia, Laos and Myanmar, with the onset of the ASEAN Economic Community in December 2015. The company’s chief executive Apirak Thaipatanakul said future staff training would focus on improving life insurance services for expatriates residing in Thailand and foreign traders along the Thai border. He added that there were also plans to set up a representative office in Myanmar later this year before more offices in other neighbouring countries would be established. Giving his 2015 market outlook for Thailand, he says insurance businesses would sustain growth with premium increases by about 13 percent from last year, thanks to Thailand’s economic growth between an estimated 3.5 – 4.5 percent and low interest rates. He also said that with the rise of aged people in the country, total premium this year was projected to rise up to 571 billion baht or some 13 percent. (TNA)