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Thai Insurer Krungthai-AXA to Invest 300 Million Baht in Expansion.

Bangkok Post (Bangkok, Thailand)

| May 01, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Charoen Kittikanya

May 1--Krungthai AXA Life Insurance Co, a French-Thai joint-venture insurer, will invest 300 million baht this year to beef up its overall business.

"We want to achieve 1.5 billion baht in total premiums this year, with 700 million baht in first-year premiums." said president Bimal Balasingham.

The company last year reported total premiums of 989.1 million baht, up 60 percent from 616.54 million baht in 2002, with first-year premiums rising 50.2 percent to 543.37 million baht.

For the first quarter of this year, Krungthai AXA reported total premiums of 300.31 million baht, up 41.9 percent from the same period ...

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Source: HighBeam Research, Thai Insurer Krungthai-AXA to Invest 300 Million Baht in Expansion.

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