Thailand: Krungthai-AXA Life Insurance forecasts continued improvements in performance.

Section: Business News - Krungthai-AXA Life Insurance forecasts continued improvements in performance after having cleared accumulated losses and earned a healthy profit in the first nine months of this year, the Bangkok Post reports.

"We expect higher profit this year and sales despite the world financial crisis and domestic economic constraints," said Michael Plaxton, the CEO of the French-Thai joint venture.

Krungthai-AXA posted statutory profits of 691 million baht the first nine months, 62% higher than the 426 million baht it earned in the same period last year.

Higher profits were driven by sales growth, particularly from bancassurance, and active …