Fitch: Thai Life Insurance Industry to Continue Steady Growth

Sun Aug 3, 2014 9:01pm EDT

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Thailand Life Insurance Dashboard 1H14 here BANGKOK/SINGAPORE, August 03 (Fitch) Fitch Ratings says in a new report it expects the life insurance industry in Thailand to continue to grow steadily, underpinned by low insurance penetration, an ageing population and tax breaks. In addition, bancassurance will likely continue to drive growth as life insurers seek strategic relationships with banks. At the same time, life insurers with strong agency networks will be able to support their profitability by focusing on higher margin products. The industry's overall capitalisation is likely to remain solid, which will support growth in the medium term. Fitch also expects life insurers' foreign investment to gradually increase as they seek to diversify their investments and following a relaxation in regulations. The 'Thailand Life Insurance Market Dashboard 1H14' is available at www.fitchratings.com or by clicking on the link above. Contact: Trin Siriwutiset Associate Director +662 108 0154 Fitch Ratings (Thailand) Limited Park Ventures, Level 17 57 Wireless Road, Lumpini Patumwan, Bangkok 10330 Siew Wai Wan Senior Director +65 6796 7217 Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com. Additional information is available on www.fitchratings.com ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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