Ocean Life Insurance unveils its visionary change with the emphasis on corporate governance and highlight on its agents’ professionalism. With its ‘Life Partner’ concept, the company raises a strategy in search of maximum profits for every party and builds targeted product information base. Expecting the first year’s premium of Bt 2,954 million that grows by 20% from 2009, the company, in 2010, continues to boost its total of premium valued at Bt 11,977 million that grows by 11.50% from 2009 and anticipates 6.55% investment revenue.
Mr. Kirati Assakul, Chairman of Ocean Life Insurance Co., Ltd, said that the company had selected Mrs. Dayana Bunnag to be in charge of President for over two years. With the course of the time, Mrs. Dayana has heartfeltly devoted her time and ability for Ocean Life Insurance management and development. But due to Mrs. Dayana’s overloaded responsibilities that have compelled her to work hard, she has not had enough time to share with her family. Consequently, she intended to give in her resignation. Thus, when the time to recruit the new President comes, the company’s Board of Nominating committee tried to seek for both internal and external eligible candidates and decisively selected Mrs. Nusara (Assakul) Banyatpiyaphod. Even though the selection of Mrs. Nusara for the position could make the company seem to operate under family business management, her multidisciplinary professional experiences in financial, investment and marketing with the start from operational level until management level in the position of Executive Vice- President position in Ocean Life Insurance’s investment field for over 22 years can assure the committee to trust in Mrs. Nusara, a professional executive, who is capable of to leading the company to gradual success. As such, Mrs. Dayana is wholeheartedly in favor because of her cooperation with Mrs. Nusara for over 2 years.
“Almost 10 years that Mrs. Nusara has been managing in investment field, she plays a significant role in making profits for Ocean Life Insurance, that enable the company to become a top-tier stock performer possessing investment portfolio valued at more than Bt20,000 million. For over 10 years, its investment has grown at Bt 53,400 million at the moment and made revenue of 6.86% last year, that is considered a top-tier player in life insurance business.” said Mr. Kirati.
Mrs. Nusara (Assakul) Banyatpiyaphod, President of Ocean Life Insurance Co., Ltd. heartfeltly expresses her thankfulness for the company’s Board of Nominating and Board of Committee that selected her for the position of President. For over 2 years, Mrs. Dayana had created changes and strong foundations for Ocean Life Insurance with professionalism, cooperate governance, transparency and accountability. For her business direction in 2010, the company still stands firm on professionalism ethic with operation and management policy highlighting ‘changes’ to lead the company in a better direction in search for better performance and more profitable revenue, especially for human resources development and professionalism of Ocean Life Insurance agents. The company will utilize training center situated in Korat to educate its agents so that they could introduce suitable products and provide satisfactory services to their clients according to the company’s slogan “Life Partner and Beyond”.
Mrs. Nusara adds that the company will emphasize on low-income clients who are considered as a large and strong customer base of Ocean Life Insurance for a long time. At the same time, the company will also tap on middle-to-high and new generation customers.
New products that will be launched in 2010 will conform to customer’s benefits at best. They will be also modern such as the life insurances for the elderly because the number of aged people currently tends to increase year after year as well as the life insurances for working people, for education, for group of students, for micro insurance for low-income target.
The company expects to grow, from the first year’s premiums worth Bt2,461 million, by 20% valued at Bt 2,954 million in 2010 and make a total of premiums worth Bt11,977 million that means the growth by 11.5% from Bt10,741 million in 2009.
For operation value in 2009, the company possesses the total of premiums valued at Bt10,741 million that means the growth by 8.73% in 2008. The first year’s premiums are worth Bt2,461 million and the following year’s valued at Bt8,064 million and single premiums worth Bt217 million.
For investment value, the total of net value was at 6.86% in 2009 that was higher than 2008’s with 6.66% revenue.
For life insurance business tendency in 2010, Mrs. Nusara expects that it will continuously grow by 20%. The growth of overall direct premium will grow by between 18-23% compared to 2009’s.
For more information, please contact: Verve
Ms. Nitida Asawanipon Tel.: 02-204-8226
Mrs. Wongchan Tungsongsak Tel.: 02-204-8221
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