DAI-ICHI TO OFFER GROUP COVER IN THAILAND

Japanese assurer Dai-ichi Mutual Life has agreed in principle to offer group life policies in Thailand in association with Thai assurer Ocean Life, reports Nihon Keizai Shimbun . Under the deal, Dai-ichi will send two staff to work with its Thai partner, focusing on sales to Japanese companies operating in Thailand. About 1,500 Japanese companies have operations in Thailand, employing about 400,000 people. Dai-ichi will sell personal accident cover as well as death benefits to these employees via Ocean Life, since Dai-ichi does not have a licence to operate sales of its own policies in Thailand. Dai-ichi will reinsure about half the business sold by Ocean Life. Dai-ichi said that, after gaining some experience in the group assurance sector, it would look at offering individual policies. Dai-ichi current has overseas operations in China, Taiwan and Vietnam and is preparing to link with Bank of India.