BLA bullish on business prospects

By The Nation

The Deposit Insurance Act would spur demand for life insurance policies, as depositors are diversifying risks and looking for higher-return products, said Bangkok Life Assurance Plc's president Chan Vathanakul

"The enforcement of the law on August 11 will spur and expand life insurance companies' business base. As money are flowing out of commercial banks, life insurance policies are deemed a popular product for saving and investment purposes, aside from insurance coverage," he said in a statement.

The company is introducing new products and improving services, plus expanding the marketing channels and build up new sale networks to cover all target groups.

The law stipulates that if any financial institution falls, its depositors would be fully protected in the first year, no more than Bt100 million in the second year, Bt50 million in the third year, Bt10 million in the fourth year and Bt1 million in the fifth year onwards.

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BLA bullish on business prospects

The Deposit Insurance Act would spur demand for life insurance policies, as depositors are diversifying risks and looking for higher-return products, said Bangkok Life Assurance Plc's president Chan Vathanakul

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