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Thai-French Insurer Expects to Reproduce Philippines Success in Thailand.
Byline: Charoen Kittikanya
Oct. 5--Krungthai AXA Life Insurance Co, the Thai-French joint-venture insurer, expects bancassurance to contribute up to half of its new business over the next three years given its close ties with Krung Thai Bank and the bank's large branch network.
"We've produced a success story in the bancassurance channel in the Philippines which currently makes up for 50 percent of premium-based revenues to our joint venture with Metro Bank there," said Les Owen, group chief executive of AXA Asia Pacific Holdings Ltd.
"We expect equal success in Thailand (for the bancassurance business) over the next three years."
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