Muang Thai Go Regional

Muang Thai Life Assurance has announced its new vision to become a truly regional life insurance company with a target of over Bt100 billion in total premium in 2016. MTL has developed its core value namely The M Power C with an aim to reflect the character of MTL. It comprises Customer Centric, Creativity, Commitment to Success, and Caring.

In addition, MTL recently set up Innovation Centre to monitor and study on changing trends including consumer behaviour and financial technology to cope with the changing business landscape. After the Asean Economic Community took into effective, MTL is expanding into Asean market mainly focusing on CLMV group (Cambodia, Lao, Myanmar and Vietnam)

 

MTL earlier formed a joint venture with Cambodian investor to establish Sovannaphum Life Assurance in Cambodia and already got a licence for doing life insurance business. In addition, MTL signed MoU with Vietnamese partner to set up a joint venture company in Vietnam, and opened representative office in Myanmar.          

 

   Moreover, MTL also set a goal to become a digital insurer. The company recently launched Personalised VDO as its new communications model to contact customers via email. This is a new innavation of isurance business that offers direct access to each client in response to different lifestyles and needs.

In 2015, the company enjoyed a 17 per cent growth to the total premium of Bt87.9 billion. New business premium rose by 8 per cent to Bt37.9 billion. Among them, the first-year premium surged by 18 per cent to over Bt26.2 billion as renewal premium grew by 25 per cent to almost Bt50 billion.