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Robust investment gains push AACP profit.
Byline: Charoen Kittikanya
Sep. 7--For Ayudhya Allianz CP Life (AACP) the year is shaping up in a somewhat contradictory manner -- unfavourable market conditions but a strong profit thanks to strong investment gains. The insurer, which posted an investment loss of 500 million baht in last year's generally good economy, now expects to see a strong turnaround in this year's economic slowdown, following changes in its portfolio management strategy.
Chief investment officer Nikhil Srinivasan said AACP saw net profits increase to 467 million baht in the first half of the year, compared with losses of 257 million baht in the same period in 2004.
He ...
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Source: HighBeam Research, Robust investment gains push AACP profit.