Muang Thai Life plans more regional expansionJanuary 26 2018 by InsuranceAsia News Staff
Thailand’s Muang Thai Life Assurance has said it plans to boost its presence in regional markets with a focus on Myanmar, Indonesia, Malaysia and the Philippines.
According to company executives, the sharpened regional focus shows the confidence it has gained from successfully setting up joint venture firms in Laos, Vietnam and Cambodia last year.
Muang Thai Group, the holding company of Muang Thai Life Assurance, also said recently that it had allocated a budget of more than Bt1 billion (US$31.8 million) a year from 2018-22 to expand its investments in new operations that involve digital and insurance businesses.
These investments will also include startup ventures, according to Sara Lamsam, Muang Thai Life Assurance’s president and chief executive officer.
Lamsam explained that the hike in its planned investment budget forms part of the company’s strategy to move its businesses forward in the digital era.
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