Allianz in talks to expand insurance presence in Thailand

Local firm forms committee to study further partnership with European insurance giant

Allianz in talks to expand insurance presence in Thailand

Insurance News

By Gabriel Olano

Germany-based insurance group Allianz is in discussions with Thai financial firm Sri Ayudhya Capital to make an investment in the non-life insurance sector of the country.
This was revealed by Sri Ayudhya Capital in a filing with the Stock Exchange of Thailand. The two companies currently have a partnership in the market through Allianz Ayudhya Assurance, an associate company, in which Sri Ayudhya has a 20.17% stake.

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Sri Ayudhya Capital approved the formation of a committee to study the possible further partnership with Allianz on Monday. Four of its directors were named to the committee: Virojn Srethapramotaya, Nopporn Tirawattanagool, Chusak Salee, and Laksna Thongthai.
The committee will look into various possibilities and details of the potential agreement, as well as other relevant actions and compliance with laws and regulations. It will then give recommendations to the company’s board of directions to consider.
The company is currently operating a non-life insurance firm in the market, Sri Ayudhya General Insurance.

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