OIC grants insurance business license to “Allianz Ayudhya Insurance”

Bangkok, The Office of the OIC grants “Allianz Ayudhya Insurance” an insurance business license after merging with Aetna Health Insurance Co., Ltd. at the end of 2023.

Mr. Chuchat Pramunphon, secretary-general of the Insurance Business Regulatory and Promotion Commission (OIC), revealed that the OIC board meeting approved Allianz Ayudhya Insurance Public Company Limited and Aetna Company. Health Insurance (Thailand) Public Company Limited has merged into a new company, “Allianz Ayudhya Insurance Public Company Limited”. Both companies have complied with the conditions and registered the merger on March 1, 2023, ready to bring Return the original insurance business licenses of both companies. and receive a business license The new edition has already been released.

The Secretary-General of the OIC has given policies and instructed the company to strictly implement the company’s project plans. Emphasis is placed on protecting the rights of the insured. Presenting insurance products that meet the needs of consumers Including the development of insurance technology. To promote the strength of the company and the insurance industry in the future. It is expected that the experience and expertise of Allianz Ayudhya Insurance Public Company Limited will help promote the growth of Thai insurance even more.

The Secretary General of the OIC added that the OIC Committee has a policy to promote Consolidation In the general insurance business sector Focusing on strengthening insurance companies in 2023, there will be a total of 6 non-life insurance companies merging and transferring their businesses, or in simple terms there will be 3 pairs of synergies, and the Office of the OIC. There is a policy to promote Consolidation Currently, the OIC is preparing a draft announcement from the Office of the OIC on guidelines for the merger of life insurance companies. General insurance for the insurance business more clear For insurance companies, they need Consolidation or MandA, which is the same direction as the global insurance business.

In addition, the Office of the OIC is in the process of listening to opinions from those involved. Continue the draft ministerial regulations specifying conditions for conducting life insurance business and general insurance business, B.E. … in order to set conditions for conducting insurance business for all companies. At present, there are many differences according to the time of company establishment. Therefore, in order to promote companies in the insurance industry There is an environment in which there is equal competition and fairness in conducting business. The OIC has therefore drafted this ministerial regulation.

Source: Thai News Agency