THAI CARDIF TO SELL VIA THAI LIFE INSURERS AND BANCASSURANCE

Thai Cardif, a newly formed life venture from Thai Life Insurance Group, plans to use Thai Life’s three existing insurance companies to support the new unit. Thai Life also plans to sign an agreement with Thai Military Bank to promote bancassurance sales. Thai Life chief operating officer Chai Chaiyawan said that the bancassurance deal would aim to capture a large base of small depositors at the bank, most of whom are military officers. Mr Chai also noted that the new operation, which is a joint venture with France-based insurer Cardif, would focus only on bancassurance as a distribution channel, although the group also expected to acquire new clients from group affiliates Paiboon Insurance and Thai Health.