Another Thai insurer eyes life in Cambodia
Source: Asia Insurance Review | Mar 2018
Asia ASEAN Cambodia Thailand Life & Health M&A Wealth Management
Thai Life Insurance, Thailand’s third largest life insurer, is studying the possibility of entering the Cambodian market as well as those of Laos and Myanmar. The studies will be completed this year.
The expansion into the neighbouring countries is part of the company’s 10-year strategic plan, which includes shifting to digital too. Thai Life aims to become one of the top five life insurers for first-year and total premiums in the region, reported The Bangkok Post.
Other Thai insurers have already entered the Cambodian market. They are Bangkok Life Assurance and Muang Thai Life Assurance. The former has an insurance unit called Bangkok Life Assurance (Cambodia) in which it has a 52% stake. The latter has a joint venture called Sovannaphum Life Assurance with Canadia Investment Holding, the holding Company of Canadia Bank. A