Life insurers won’t be affected by US financial crisis

September 26th, 2008 - 4:59 pm ICT by Amrit Rashmisrisethi  

Secretary-general of Insurance Business Promotion Committee, Mrs. Chanthara Buranaluek (จันทรา บูรณฤกษ์), insists financial crisis in the United States of America won’t impact life insurance business in Thailand, adding that the business will expand by 12 percent.

Mrs. Chanthara says in the 3rd quarter of economic year, life insurance business in Thailand has grown up by 13 percent whilst assurance business has expanded by 6 percent. She expresses her confidence that overall insurance business will certainly expand not less than 12 percent.

Mrs. Chanthara further states that crisis occurring to AIG in the US has not impacted the business and performance of AIG in Thailand due to a huge difference in business proportion. In terms of AIA in Thailand, she says the life insurer posses a secure and solid financial status, and the company has higher amount of investment capital than what the regulations require, adding that AIA does not place its investments in risky financial instruments.

Source : National News Bureau, Public Relations Department of Thailand

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