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Royal and Sun Alliance Insurance (Thailand) changes name to IAG Insurance (Thailand) Ltd.

28 December 2005

Royal and Sun Alliance Thailand announced the new Co name following regulatory approval on 28th December 2005. The company is now registered in Thailand as IAG Insurance (Thailand) Ltd, and trades under the NZI brand.

Chris Dooley, Director and Chief Executive Officer of IAG Insurance (Thailand) Ltd., said that Insurance Australia Group (IAG) saw significant potential in the Thailand Insurance market and the share acquisition of the Royal and Sun Alliance Insurance Thailand business last July was another important step in the IAG strategy to build a portfolio of insurance assets in Asia.

“We are delighted to formally register our new company name and complete the transition period which commenced in July of this year. Already IAG have brought additional skills to our business in Thailand which complement our existing core capabilities and which further enhance our ability to deliver sustainable high quality performance for our customers.”

IAG is Australia and New Zealand’s leading general insurance group with annual GWP in excess of Bht190 billion, and a market capitalisation of Bht273 billion, employing more than 12,000 people throughout Australasia.

Mr Dooley added that “In addition to it’s home markets of Australia and New Zealand, the Groups International interests now extend to Thailand, China, and the recently announced strategic holding in a leading Malaysian insurer (subject to regulatory approval), all of which reflect a realization of the Group strategy – To establish an Asian Foothold.”




 
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