INSURANCE
Newly profitable ALife likes rich customers
- Published: 12 Feb 2013 at 00.00
- Newspaper section: Business
Advance Life Assurance, a mid-sized life insurer focused on white-collar workers and high-net-worth customers, expects to clear its accumulated losses of 700-800 million baht over the next three to five years as the business expands.
ALife is majority-owned by Asian Venture Development, in which the Damnernchanvanich family holds a majority stake. It reported its first net profit last year, totalling 50 million baht.
ALife ended 2012 with premium growth of 52% to 1.246 billion baht, with new business premiums making up 805 million baht, up 132% from a year earlier.
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