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Krung Thai Bank Boosts Revenue of Life Insurance Company.
Byline: Charoen Kittikanya
Feb. 8--Krungthai AXA Life Insurance Co, a Thai-French joint venture, has said it expects to earn 560 million baht by offering bancassurance at all 290 branches of major shareholder Krung Thai Bank (KTB) this year.
The new channel would contribute about one-third of the company's projected premium revenue of 1.7 billion baht, up from 778.9 million baht last year, said president Bimal Balasingham.
Last year Krungthai AXA Bank Assure generated a combined 200 million baht from 130 KTB branches.
Mr Balasingham said the company, established five years ago, was the eight-biggest life insurer in premium income.
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Source: HighBeam Research, Krung Thai Bank Boosts Revenue of Life Insurance Company.