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Thai Bank to Offer New Insurance Services.
Feb. 5--Siam Commercial New York Life Insurance Plc (SCNYL) plans to offer bancassurance services at 100 branches of Siam Commercial Bank (SCB) this year, said Donald Carden, president and chief executive of the insurer.
The Bank of Thailand's decision last month to allow commercial banks to act as brokers has stimulated business co-operation among insurers and banks.
As a joint venture between New York Life International and SCB, SCNYL was more ready than most rivals to pursue bancassurance, he said.
Kaida Srifuengfung, the insurer's executive vice-president, said the venture had started at 34 SCB branches in Bangkok. New software costing 18 ...
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