KBank's Strategic Acquisition in Muang Thai Group Holding
K
KASIKORNTHAI
Life Insurance Industry in Thailand
20.0
Premium per % GDP by Country
(%)
16.5
15.0
14.0
11.6
10.0
5.86.4 5.8 6.07.67.5
5.0
1.51.11.0
2.8 3.23.2 3.44.03.9
2.3 2.4.1 3.3 3.43.4
Taiwan
South Korea
Singapore
Australia
India
Malaysia
China
Thailand
Y2019
■Y2020
■Y2021
1.4141 1.21.21.5 1.41.61.6
Indonesia
Philippines
Vietnam
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
In 2021, Thailand insurance penetration rate
was 3.4% with a high opportunity for growth.
■Muang Thai Life Assurance (MTL) ranked #3 in
life insurance industry in Thailand, in 1Q23 with
12.7% market share of total premium.
#4 in life insurance industry in Thailand, in 2022
Source: Swiss Reinsurance
Total Premium
(Bt bn)
Size of Market by Premium (%)
CAGR 13-22: 5%
New Business
Premium
(Bt bn)
Market Share by Total Premium in Life Insurance (%)
Source: The Thai Life Assurance Association
(%)
30.0
700.0
600.0
500.0
601.7 627.4
400.0
503.9
537.5
568.3
610.9
600.2
442.5
300.0
200.0
100.0
614.1 611.4
200.0
24.9
25.6
■2021
2022
1Q23
25.0
23.4
180.0
160.0 20.0
17.3
140.0
120.0 15.0
13.2 13.7
14.714.4
11.9
100.0
11.812.7
12.2
10.0
8.1
80.0
5.6
5.8 5.9
60.0
5.0
5.2 5.65
4.9
5.1
6.9 7.4 7.3
1.8
4.4
2.4
2.2
156.5
40.0
1.71.8
20.0
0.0
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
1923
ΑΙΑ
FWD MTL
TLI
KTAL
BLA
AZAY PLT OLIC
GT
Others
New Business Premium
Total Premium
* New Business Premium in 1Q23 Bt44.9bn
Source: The Thai Life Assurance Association
Note: Total Premium = New Business Premium + Renewal Premium; New Business Premium First Year Premium + Single Premium
บริการทุกระดับประทับใจ
K
KASIKORNTHAI
Bancassurance Highlights in 1Q23
Bancassurance Market Share by Total Premium (%)
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
(%)
40
36.0
■2021
30
28.6
■2022
27.3
18.4
20
20
16.8
14.7
916 910.7
10
9.18.0
8.5 58.38.77.7 8.76.26.2 8.58.4
5.9
3.84.44.1
1.72.43.6
1.8 1.81.4
2.3.7
0
FWD
MTL
PLT KTAL BLA
AIA
TLI
AZAY DLA
GT Others
(%)
40
40
Bancassurance Market Share by
New Business Premium (%)
1Q23
1.3
MTL ranked #2 in Bancassurance market
#2 in Bancassurance total premium
with 14.7% market share
#2 in Bancassurance new business
premium with 16.3% market share
30
20
28.6
21.31.2
■2021
2022
1Q23
18.3
17.1 16.3
17.8
13.3
11.6
9.3
10
10.6
7.7 7.9.6
987.4
4.96.1
5.3
4.76.14.2
3.3
3.9
3.9
6.1 5.9
2.6 3.2
4.03.1
2.5
0
FWD
MTL
PLT
DLA
KTAL
AIA
BLA
TLI
AZAY SELIC
Others
Source: Muang Thai Life Assurance (MTL), The Thai Life Assurance Association (TLAA) monthly report (new format)
Note: Bancassurance premium include all bank partners' premiums of MTL
บริการทุกระดับประทับใจ
97
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