Allianz Expects Life Insurance to be Growth Driver for Thailand’s Insurance Sector

Allianz Expects Life Insurance to be Growth Driver for Thailand’s Insurance Sector

Allianz expects the life insurance to be a growth driver for Thailand’s insurance sector over the next decade, averaging around 9.3% growth rate annually. Currently, life insurance makes up 70% of the total premium income in Thailand.

“Currently, life insurance makes up 70% of the total premium income in Thailand.”

Premium income reached 4.9% of GDP in 2016, putting Thailand on par with Germany with respect to insurance market penetration.

News Source: Asia Insurance Review

About Allianz

The Allianz Group is a global financial services provider with services predominantly in the insurance and asset management business. 86 million retail and corporate clients in more than 70 countries rely on our knowledge, global presence, financial strength and solidity. In fiscal year 2016 over 140,000 employees worldwide achieved total revenues of 122.4 billion euros and an operating profit of 10.8 billion euros. Allianz SE, the parent company, is headquartered in Munich, Germany.

• Origin: Munich, Germany
• Assets: EUR 848.9 billion
• Revenue: EUR 122.4 billion
• Employees: 142,697

Official Website: https://www.allianz.com/en/

News & Media: Press Release

Updated on 8th August 2016