Muang Thai Life Assurance diversifies into healthcare business

Muang Thai Life Assurance (MTL) is actively pursuing plans to diversify its portfolio by investing in medical treatment businesses. The company’s president and chief executive, Sara Lamsam, confirmed this strategic move.

According to Lamsam, this expansion is in response to a trend observed in markets such as the United States, Europe, and other Asian countries where insurance companies are leveraging the opportunity to invest in healthcare facilities like clinics and nursing homes.

The past year saw MTL’s gross written premiums (GNP) rise by 2% to approximately 70 billion baht (US$1.97 billion), a significant achievement compared to the insurance industry’s growth rate of 3%. The company anticipates further growth in the coming years, with insurance premiums expected to rise by a staggering 20% in 2024.

MTL’s strategic plans extend beyond…