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Tokio Marine Safety Insurance aims to be one of Thailand’s Leading Insurers with GWP target THB 21.7 Billion in 2022

Press Release

          (04-06-19), after Tokio Marine Holdings, Inc. announced the acquisition of insurance businesses in Thailand and Indonesia which comprises of

Safety Insurance Public Company Limited last year, now both of Tokio Marine Insurance (Thailand) PCL. (“Tokio Marine”) and Safety Insurance PCL. (“Safety”) are

pleased to announce the integration roadmap as one company named ‘Tokio Marine Safety Insurance (Thailand) Public Company Limited’ which

the process will be expected to complete in early 2020 subject to OIC approval. Tokio Marine Safety Insurance (Thailand) PCL aims to be one of Thailand’s leading

insurers with GWP target THB 21.7 Billion and a net profitTHB 1.1 Billion in 3 years by providing various products and services with global standard for wider service locations nationwide.

 

          Mr. Suteechai Santivarakum, Chief Executive Officer of Safety Insurance Public Company Limited said ‘We have already submitted OIC application about integration process

and expected that the legal process will be completed by early 2020. We strongly believe that both Tokio Marine and Safety will coordinate and maximize each company’s competitive advantages

for greater benefits under the path ‘Synergizing for the Future’ to our customers and Thai society. We aim to achieve GWP target THB 21.7 Billion with a net profit THB 1.1 Billion. Towards the target in 2022,

we expect to grow both Topline and Bottom line by 4-5% every year. Our business goal is to be one of the most selected insurers with  customers’ trust as the foundation followed by ‘To Be a Good Company’ vision.’

 

         Tokio Marine Safety Insurance (Thailand) PCL leads the integration rationale by maximizing competitive advantage and build synergies as ‘One Team’.

Two companies have different key strengths such as Tokio Marine has strong J-Biz (Japanese Business Clients) partnerships and being a leader in marine insurance business while

Safety is one of the Thailand’s leading insurers with long time achievement and being one of leaders in motor insurance business with claim service network nationwide

and solid retail customers relationship. As a consequence, the integrated business will be more comprehensive and deliver products and services to customers conveniently and according

to customer’s needs with affordable prices. 

 

          Mr. Hironori Kiryu, President of Tokio Marine Insurance (Thailand) PCL said ‘I believe in the synergy concept ‘1+1 greater than 2’. As one team, there will be a lot of great benefits

and opportunities to Thai society, customers, business partners and our employees from both companies. However, we still conduct our business followed by ‘To Be a Good Company’ vision as Tokio Marine Group

businesses globally committed. The concept consists of three parts: 1. Look beyond profit, 2. Empower Our People, and 3. Deliver on Commitments.  As a base, we will provide safety and security as

well as contribute greater benefits to Thai society, economy and affluent people’s life.’

 

          To take advantage of being the Tokio Marine Group, Mr. Shinkichi Mike Miki, Managing Director of Tokio Marine Asia Pte Ltd. said ‘Tokio Marine Asia as a regional headquarter will liaise with Tokio Marine Holdings, Inc.

to share knowledge and global expertise in the area of digital to extend the most benefits for Thai customers. We believe our approach will benefit the business in the region and will drive sustainable growth in the future.’

 

           Tokio Marine Safety Insurance (Thailand)will consist of five pillars of business: 1. “Branch” leveraging over 100 branches and service network covered nationwide, 2. “Japanese Business Clients” based on solid trust relationship with

our Japanese customers and companies operating in Thailand and Mekong countries, 3. “Agent & Broker” taking advantage of global and local expertise , 4. “Dealers and OEM” supported by strong relationship with OEMs

and broad dealer network, and 5. “Alternatives” which are the opportunities for alternatives through B2B2C, affinities, leveraging digital techs in Tokio Marine Group.

 

More info Contact:

Panisara Boukham

Safety Insurance Public Company Limited Tel. 02-257-8562