Currency and Interest Rate Outlook
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
FVC
AIGEN
MTI
MTL
MTB
เมืองไทย
mtl
ปอเรช
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%
■ Established on 6 April 1951
☐
MUANG THAI LIFE
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)
■Life Insurance Company with Outstanding Management
(1st Place Award) 2006 - 2019 (14 consecutive years)
from Office of Insurance Commission (OIC)
■ Life Insurance Company of the Year 2014, 2017 and 2018
from Asia Insurance Industry Awards
■ Ageas holds 7.83% in MTGH and holds 24.99990% in MTL
51.00%
บริการทุกระดับประทับใจ
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k
KASIKORNTHAI
ธนาคารกสิกรไทย
开泰银行 KASIKORN BANK
Muang Thai Life Assurance (MTL) Information Summary
mtl
MUANG THAI LIFE
เมืองไทย
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 2021
To become the trusted brand that is ready to take care of and stand by customers
during their every life stage under "MTL Trusted Lifetime Partner". This can be
achieved through presentations of products and services via multi-channel
distribution, with innovations and technologies that can address customer needs in
every target group in a more personalized manner on digital and non-digital
platforms responding to all needs of different lifestyles. 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.
2019
2020 1H21
Net premiums earned
Net investment income
Total revenues
80.5 72.2
20.4 21.4
100.9 93.6
34.0
11.5
45.5
Long-term technical reserve increase from the previous period
35.1
26.0
12.5
Net benefit payments and insurance claims
41.4
43.0
20.3
Commissions and brokerages
9.1
9.1
4.4
Other underwriting expenses
0.8
0.6
0.3
Operating expenses & Other
5.0
5.2
2.2
Key Financial Targets
Total Expenses
91.4
83.9
39.7
Bt bn
2016
2017
2018
2019
2020
1H21
Profit before income tax expense
9.5
9.7
5.9
Total Premium
Income tax expense
97.0
102.7
94.5
83.8
75.3
36.0
1.8
1.8
1.1
(after refund)
Net profit (loss)
7.7
7.9
4.8
% Growth
10%
6%
-8%
-11% -10%
0%
Statements of Financial Position (Bt bn)
2019
2020
1H21
2019 2020 1H21
Total Assets
531.1 556.4
579.4
ROE (%)
12.4%
11.3%
11.7%
Total Liabilities
Total Equities
464.5 483.4
498.2 ROA (%)
1.5%
1.4%
1.6%
66.6 73.0
81.2 Risk-Based Capital (RBC)
385.7%
323.3%
312.0%
Source: Muang Thai Life Assurance, data based on book value except for RBC
Note: OIC Office of Insurance Commission
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