Allianz discussing Thailand insurance presence

Allianz is in discussions with Thai financial firm Sri Ayudhya Capital to invest in the non-life insurance sector of the country. The two already work together in the market through Allianz Ayudhya Assurance, an associate company, in which Sri Ayudhya has a 20.17% stake. Sri Ayudhya Capital has approved the formation of a committee to assess a further partnership with Allianz. Four of its directors were named to the committee, Virojn Srethapramotaya, Nopporn Tirawattanagool, Chusak Salee and Laksna Thongthai. The committee will examine various possibilities and details of the potential agreement, as well as other relevant actions and compliance with laws and regulations. It will then give recommendations to the company’s board of directions to consider. The company is currently operating a non-life insurance firm in the market, Sri Ayudhya General Insurance.