KBank's Strategic Acquisition in Muang Thai Group Holding
K
KASIKORNTHAI
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
KBank's Strategic Acquisition in Muang Thai Group Holding (MTGH)
MTL's insurance business supports KBank's strategic objective of providing a full range of
financial services to satisfy customers' needs and universal banking platform
MTGH
MTI
MTL
MTB
FVC
AIGEN
MTIB
Current KBank Economic Interests
Muang Thai Group Holding Co., Ltd. (MTGH) 51.00%
Muang Thai Life Assurance PCL. (MTL)
38.25%
Muang Thai Insurance PCL. (MTI)
10.20%
Muang Thai Broker Co., Ltd. (MTB)
50.99%
MT Insure Broker Co., Ltd. (MTIB)
Fuchsia Venture Capital Co., Ltd. (FVC)
AIGEN Co., Ltd. (AIGEN)
38.20%
38.25%
49.94%
■ Established on 6 April 1951
mtl
MUANG THAI LIFE
เมืองไทย
First life insurance company to have received
the Royal benevolence in granting the appointment as the life
insurance company of His Majesty King Bhumibol Adulyadej
■ Joined hands with Ageas in 2004 (formerly known as Fortis
Insurance International NV) and joined hands with KBank in 2009
Credit Rating:
S&P Global: BBB+ (Stable Outlook)
Fitch Ratings: A- (Stable Outlook) / AAA(tha) (Stable Outlook)
■ Thailand Top Company Awards 2023 (Insurance Industry)
from Business+ Magazine & University of the Thai Chamber of
Commerce
■ Business+ Product Innovation Awards 2023
Life and Non-Life Insurance,
Category of Service from Application "MTL Click"
from Business+ Magazine & Mahidol University
■Most Sustainable Insurance Service Provider
from the Global Economics Magazine
■Thailand Most Admired Company 2023
from BrandAge Magazine
■ Ageas holds 7.83% in MTGH and holds 24.99990% in MTL
บริการทุกระดับประทับใจ
(Data as of 30 Sep 2022) 99
2021
2022 1Q23
Net premiums earned
69.4 66.1
Net investment income
22.5
20.4
Total revenues
91.9
86.5
Long-term technical reserve increase from the previous period
25.6
14.5
Net benefit payments and insurance claims
41.6
50.6
Commissions and brokerages
8.6
7.4
Other underwriting expenses
0.7
2.5
K
KASIKORNTHAI
ธนาคารกสิกรไทย
开泰银行 KASIKORN BANK
Muang Thai Life Assurance (MTL) Information Summary
เมืองไทย
mtl
MUANG THAI LIFE
Strong fundamentals and revenue generation, helped by process efficiency and service quality
enhancements; platform and synergy alignment between MTL and KBank
Risk-Based Capital (RBC) remains strong, sufficient to support business growth and much higher than
OIC minimum requirement
Statements of Comprehensive Income (Bt bn)
Strategy in 2023
Under the strategic concept of "Happiness Reinvented", the Company continues to
develop life and health insurance products and be the No.1 most trusted life &
health partner with products, services and innovations that cater to the diverse
needs of consumers, covering all genders, ages, groups, lifestyles and every role
and responsibility in life. Our goal is to democratize insurance and make it accessible
for all through our four core pillars: People, Preferred Partner, Customers and
Beyond Our Customers. The Company also progresses to develop its workforce for
handling and adapting itself to the digital world completely and continuously
emphasizes market expansion in countries with potential for economic growth.
18.4
5.8
24.2
4.7
14.1
1.8
0.6
Operating expenses & Other
5.5
4.6
1.1
Key Financial Targets
Total Expenses
82.0 79.6
22.3
Bt bn
2018
2019
2020
2021
2022
1Q23
Profit before income tax expense
Income tax expense
Net profit (loss)
Statements of Financial Position (Bt bn)
Total Assets
9.9
6.9
1.9
Total Premium
94.5
83.8
75.3
73.0
69.3
19.9
1.8
1.2
0.3
(after refund)
8.1
5.7
1.6
% Growth
-8%
-11%
-10%
-3%
-5%
18%
2021
2022
1Q23
2021 2022 1Q23
607.5 625.0
ROE (%)
10.2%
6.6%
7.1%
632.4
Total Liabilities
520.9
Total Equities
537.6
86.6 87.4
544.7 ROA (%)
1.4%
0.9%
1.0%
87.8 Risk-Based Capital (RBC)
359.7%
331.5%
358.1%
Source: Muang Thai Life Assurance, data based on book value except for RBC
บริการทุกระดับประทับใจ
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