May 26, 2016 – Samaggi Insurance PCL, a Chubb Company, today announced its first quarter financial results where it achieved a gross written premium of 1.4 billion baht, a 6% increase from the previous year, and a net profit of 384 million baht, a growth of 21%. This is the result of its prudent underwriting policy to sustain good margins, According to Ms. Nittaya Piriyathamwong, Managing Director of Samaggi Insurance, “The company remains focused on customer service quality, and will continue to work closely with partners to develop new products that fulfill customer demand amidst the challenging economic conditions”.
In April, Samaggi and Siam Commercial Bank introduced “Prom Chai Insurance”, which is available at Siam Commercial Bank branches nationwide. The product has been designed to attract customers who visit branches and are keen to have immediate insurance coverage after their purchase. The product offers auto insurance Type 3, personal accident insurance, and travel insurance. This new product has received a positive response from customers; thanks to its modern packaging and convenient purchase process for customers.
For the remainder of 2016, the company, in collaboration with its partners across various channels, have several key initiatives in the pipeline. These range from launching new products, investing in technology to improve the sale process and service to launching new campaigns in response to customer needs.
|
Unit: MB |
Q1'16 |
Q1'15 |
|
Gross Written Premiums |
1,400 |
1,316 |
|
Growth (%) |
6% |
|
|
Underwriting Profit |
363 |
320 |
|
Growth (%) |
13% |
|
|
Net Profit |
384 |
319 |
|
Growth (%) |
21% |
|
About the Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.new.chubb.com.
Samaggi Insurance Public Company Limited in Thailand is a Chubb company. Established in 1947 and listed on the Stock Exchange of Thailand, Bangkok-based Samaggi Insurance PCL, (trading symbol “SMG”) is a major writer of auto, small commercial and personal accident insurance. A key player in the local general insurance market, it distributes its products including fire, marine, auto and personal accident insurance through banks, brokers, agents and its branch network comprising 16 offices.
More information can be found at www.samaggi.co.th
Media contact
Nitjawan Khooha : 66(0) 2555-9550; nitjawan.khooha@samaggi.co.th
Chaweewan Nojit, 66(0) 2555-9550; Chaweewan.Nojit@chubb.com
Samaggi Insurance Public Company Limited
2/4 Samaggi Insurance Tower. 12th., North Park Project Vibhavadi-Rangsit,
Bangkok 10210 Thailand