Tokio Marine eyes big rise in premium growth in Thai and Indian markets
Insurance firm Tokio Marine Holdings is expanding is business in Thailand and India in a bid to boost its overseas premium growth by up to 50 per cent, managing executive officer Noboru Yamagata said on Monday.
The Japanese insurer will engage in mergers and acquisitions of insurance firms in the two markets to drive overseas growth, especially in the Asian market, from 10 per cent in 2018 to 20 per cent this year, he said.
In Thailand, Tokio Marine Life Insurance (Thailand) is targeted to generate premium totalling Bt7.47 billion, up 11 per cent year on year, with Bt1.7 billion coming from first-year premium, he explained.
As of the end of May, the Thai unit had recorded total premium of Bt3.01 billion, up 40 per cent from the same period last year, with Bt1 billion as first-year premium.
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