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Baht/$ 34.95/00 (Bid/Ask)
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GOLD |
12450
-100
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INSURANCE
POST REPORTERS
The insurer Generali Thailand revamped its management structure and medium-term goals as part of a plan to become the leader in employee benefits insurance in Thailand over the next five years.
"We are already a top-five player in the employee benefit segment in Thailand and I believe we could be in the top position in the next few years given our experience at an international level and our commitment to Thailand," said Keith Brooks, the new country manager for Thailand and CEO of the Life Company.
"Generali Group is a leading provider of employee benefits globally and sees opportunities to develop this segment in Thailand," he said. "Over 200,000 Thai employees, including those working for major IT and hospitality multinational companies, are currently served and insured by Generali Thailand."
The company has been operating in Thailand for six years and has investment assets estimated at one billion baht.
It is a joint venture between the global insurance giant Generali Group, Jerneh Asia Berhad from Malaysia and the Tantipipatpong family. The company offers both life and non-life products through Generali Life Assurance (Thailand) Co Ltd and Generali Insurance (Thailand) Co Ltd.
Last year, the life business generated total premiums of 957 million baht, with the non-life side producing 413 million baht.
Individual life insurance is another segment where Generali Thailand seeks growth. It focused on alternative distribution for telemarketing and is currently operating and leading extensive telemarketing programmes in the country.
Surachai Rattayavisid, executive vice-president and general manager of Generali Insurance (Thailand), said that in the years to come Generali would focus on medium-sized businesses, particularly the non-motor sector.
Additionally, the company seeks growth in the large-risk segment given the government's investment in megaprojects, he said.
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