Siam City Insurance ("SCI"), a general insurance provider in Thailand founded in 1948, has changed its name to FWD General Insurance Public Company Limited ("FWD General Insurance") and has rebranded accordingly. The rebrand follows the acquisition of Bangkok-based SCI in December 2019.
The Asia Pacific Financial Services Association (APFinSA) together with host member association THAIFA (Thai Association of Insurance and Financial Advisors), honoured 1,600 qualifiers of the inaugural APFinSA Awards from across Asia Pacific.
Siam Commercial Bank (SCB), one of Thailand's largest lenders, is set to launch a life and non-life insurance brokerage business through its subsidiary, SCB Protect Co.
Financial advisers in Singapore, Malaysia, and Thailand who were using GoalsMapper benefited from up to a month's free subscription on the platform in April. This initiative costs the GoalsMapper team approximately USD$70,000 in revenue.
Robin Spencer has been appointed Chief Executive Officer of Prudential Life Assurance (Thailand), subject to regulatory approval.
UK insurer Prudential has agreed to acquire a bancassurance partnership in Thailand from FWD Group in a THB24.5bn ($751m) deal.
The Thai Life Assurance Association (TLAA) aims to establish a central claim centre which will pool all health insurance claims. This will improve convenience for claimants and hospitals, reduce claim processing costs and help prevent insurers from inaccurate claims, said a report from the Bangkok Post.
FWD Group has appointed Peter Grimes as Country Chief Executive Officer for FWD's businesses in Thailand and Li Hao Zhuang as President & Chief Executive Officer of FWD Life Philippines. Both appointments are effective 1 January 2020 and subject to regulatory approval.
Life insurance premiums in Thailand shrank in the first half of this year, the first decline in 10 years.
Mr Sara Lamsam, President and CEO, Muang Thai Life Assurance PCL, Thailand, was named Executive Champion of the Year at the 4th Asia Trusted Life Agents & Advisers Awards.
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