Thai life insurance business likely to grow by 15-20%

BANGKOK, 24 January 2010 (NNT) – Muang Thai Life Assurance Company expects Thailand’s life insurance business for 2010 to expand by 15-20% year-on-year mainly as a consequence of the national economic recovery.

Muang Thai Life Assurance Company President Sara Lamsam forecasted that the national life assurance business would grow up continuously due to the positive signs of the national economy. In addition, general customers have given more interest to buy life insurance.

Nevertheless, Mr Sara remained concerned over the ongoing domestic political uncertainty. He said the issue would destroy people’s confidence and give negative effect to their investments.

Regarding the Muang Thai Life Assurance Company’s sales in 2009, the president reported that the company met the expected growth target of 25% from last year with a total premium of 21.54 billion THB.

As for 2010, Mr Sara said the targeted total premium was expected to expand by 42% or 30.55 billion THB, mainly resulting from better business direction and intensive marketing of the company.