Insurance focus on auto sector

Bangkok Insurance is confident of earning Bt15.3 billion from premiums in 2013, up 15 per cent from this year.

President Panus Thiravan-itkul said the company would achieve the target by focusing more on the auto-insurance sector amid a growth in car sales. It also aims to expand into the provinces via Bangkok Bank.

The firm will also open a branch in Mukdahan because it believes the province will witness booming trade and investment once the Asean Economic Community kicks off thanks to its proximity to Laos.

It expects total premiums of Bt13.3 billion this year, up 20 per cent from 2011. As of the first 11 months, premium income stood at Bt11.85 billion, up by 19-20 per cent year on year. Of that, Bt4.3 billion was from car insurance, Bt1.2 billion from fire insurance, Bt300 million from marine, Bt1.6 billion from asset insurance, and the rest from other kinds of coverage.

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Article source: http://www.thethailandlinks.com/2012/12/14/insurance-focus-on-auto-sector/