AM Best has awarded a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Allianz Ayudhya General Insurance Public Company Limited (AAGI) in Thailand. This endorsement comes with a stable outlook for both ratings, a testament to the solid foundation of AAGI’s financial standing. But what exactly underpins these impressive ratings? Sit tight as we explore the key facets of AAGI’s robustness, one layer at a time. To kick things off, AAGI’s balance sheet strength deserves a standing ovation. According to AM Best, this financial fortitude is marked as strong, thanks to the company’s highest level of risk-adjusted capitalization at the close of 2023. Using Best’s Capital Adequacy Ratio (BCAR) as a yardstick, AAGI is not just strong but anticipated to stay very strong in the foreseeable future. This strength is buoyed by the company’s ability to tap into capital markets through its…
Posts published in “Thailand”
Excitement is in the air as Chubb Life Assurance Public Company Limited, known widely as Chubb Life Thailand, recently unwrapped an enticing blend of savings and life insurance to the market on 17 September 2024. Aptly named the 678 Step Savings, this innovative product is crafted especially for those keen on accomplishing their financial milestones without fuss. The 678 Step Savings plan is as elegant as it is effective. Offering a breezy, short-term premium payment window of merely six years, it provides a comforting blanket of life assurance stretching up to the ripe age of 78. What’s more, customers are welcomed with an annual step-up cashback, a delightful perk starting at 9% of the sum assured from year one and continuing until an awe-inspiring payout of up to 600% upon policy maturity. The coverage doesn’t stop there; in the face of an unforeseen accident resulting in loss of life, policyholders…
In the heart of Mae Sai district, amidst the gradually receding floodwaters, Navy personnel have become an emblem of hope, diligently delivering food and essential items to the beleaguered flood victims. The photo captured by the Royal Thai Navy encapsulates a moment of solidarity and resilience. As the floodwaters in Chiang Rai ebb away, an immense clean-up operation has swung into action. The workers face a Herculean task: cleaning, repairing, and restoring areas that were left in ruin after the vicious floods. The torrents had left behind thick layers of mud, climbing meters high, and heaps of debris, scattered like the remnants of a storm. The water started to drain away on Sunday, finally unveiling the devastating extent of damage to households in Muang and Mae Sai districts. These regions bore the brunt of the flooding, now left with a sprawling mess that clutters every corner. In the Tham Pha…
The launch of a 145-billion-baht handout programme to assist the needy next week is certain to provide a much-needed “jolt” to the economy, Prime Minister Paetongtarn Shinawatra announced on Tuesday, as her government unveiled plans for further stimulus measures. The cabinet on Tuesday formally sanctioned the distribution of 145 billion baht, constituting about one-third of the amount earmarked in the original “digital wallet” scheme, set to commence on Sept 25. The first recipients of this highly anticipated economic boost will be low-income earners and vulnerable groups, signaling the start of an ambitious stimulus drive aimed at revitalizing an economy that managed a meager 1.9% growth last year, falling significantly behind its regional peers. The Finance Minister, Pichai Chunhavajira, revealed in a briefing post-cabinet meeting that beneficiaries would encompass 12.4 million state welfare cardholders and 2.15 million people living with disabilities. Less than 40 million Thais over the age of 16…
Officials have turned their anxious eyes towards the increasingly tumultuous Mekong River in Muang district of Nakhon Phanom this Tuesday. As Photojournalist Pattanapong Sripiachai vividly captured, the scene is nothing short of a daunting dual of man versus nature. Alarm bells are ringing across five northeastern provinces. The Office of the National Water Resources has announced flood warnings as the Mekong River rapidly swells, with the risk of it breaching its banks. Residents of Bung Kan, Nakhon Phanom, Mukdahan, Amnart Charoen, and Ubon Ratchathani are urged to brace themselves—floodwaters are expected to surge through the region this week. In the province of Nong Khai, the devastation is already apparent. Overflowing banks have submerged many areas, with Muang district’s municipal zone being hit the hardest. Businesses have shuttered in the deluge, causing a ripple effect of disruptions over recent days. There’s a glimmer of hope as floodwaters start to recede, yet…
Picture this: you’ve just applied for your dream job as a state school teacher in Sa Kaeo. Let’s name our protagonist is Ben. After numerous sleepless nights, tireless studying, and the sheer excitement of what lies ahead, Ben finally sees her name shining bright at the very top of the list of successful candidates. The list proudly released on Monday last week by the province’s Secondary Education Service Area Office hailed Ben as one of the nine triumphant future educators. But what follows is nothing short of a scandal worthy of a prime-time TV drama. Just a few days later, a Thursday to be exact, a follow-up announcement slams Ben back into disbelief. Her name, once the dazzling beacon of hope, has been abruptly replaced. Gasp! Who is this impostor parading on Ben’s rightful throne? The plot thickens as rumors whisper that the usurper shares a last name with a…
Early Tuesday morning saw an unexpected twist in Phuket’s usual serene setting as road subsidence led to significant disruptions in tambon Rawai, situated in the Muang district. (Photo: Achadthaya Chuenniran) As the sun tried but failed to peek through the relentless rain, the southern island province of Phuket found itself grappling with heavy flooding. Particularly in the Thalang district, the road behind Wat Ban Don resembled a small river, with water levels rising quickly. The drama didn’t end there; residents of Ban Ya Muk Ya Jan also reported alarming cracks snaking through the ground, adding to the day’s woes. Meanwhile, in Muang district’s tambon Rawai, the earth seemed to betray its visitors by giving way beneath a section of the road. This sudden subsidence caught many by surprise and served as a stark reminder of nature’s unpredictable temperament. Over the past 24 hours, Phuket had been on the receiving end…
The sunlit atrium of Centara Grand at Central Plaza Ladprao, Bangkok, buzzed with anticipation as Mr. Montri Rawanchaikul, the charismatic Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), stood with Ms. Kanita Sartwattayu, the insightful Executive Vice President of Domestic Production Asset Group, PTTEP, ready to kickstart the PTTEP Knowledge Management Week (PTTEP KM Week) 2024. The atmosphere was electrified as Mr. Chadchart Sittipunt, the dynamic Governor of Bangkok, graciously stepped in to inaugurate the event with a flourish. PTTEP KM Week 2024 isn’t just any corporate event; it’s a vibrant confluence of minds, a celebration where technology, innovation, and sustainability take the center stage. This year’s compelling theme, “Technology Powering Today’s and Tomorrow’s Energy,” couldn’t be more apt. It pulsates through every presentation, every hallway discussion, and every exhibit, underscoring the pivotal role technological advancements play in navigating sustainable business operations in an increasingly complex…
In recognition of its groundbreaking efforts to slash greenhouse gas emissions and spearhead the cement industry’s movement toward Net Zero 2050, the Thai Cement Manufacturers Association (TCMA) has clinched two prestigious accolades: the “Excellence Trade Association 2024” and the “Outstanding Leadership of Trade Association 2024,” both bestowed by the Ministry of Commerce. 🌿🏆 Dr. Chana Poomee, Chairman of TCMA, emphasized the association’s unwavering dedication to achieving net zero carbon emissions by 2050, as mapped out in the Thailand 2050 Net Zero Cement and Concrete Roadmap. This ambitious roadmap is perfectly aligned with the national policy on reducing greenhouse gas emissions. TCMA is not only fostering collaboration among Thai cement producers but is also partnering with diverse sectors, both domestically and globally, to focus on climate action and the collective drive towards Net Zero 2050. This strategy seamlessly integrates the Thai cement industry into a global framework, promoting international cooperation, resource…
In the early hours of Tuesday morning, in the picturesque Muang district of Phayao, an unrelenting downpour transformed the tranquil Mae Ka Huai Khian stream into a raging torrent, leaving devastation in its wake. Residents woke to the alarming sight of rising waters that soon engulfed their homes and streets, forcing them to seek refuge on upper floors and even rooftops. The heart-wrenching scene unfolded in Ban Huai Khian village, situated in tambon Mae Ka of Muang district. The relentless rain had burst the stream’s banks overnight, causing flood levels to soar between one and two metres. Buildings that stood as symbols of stability were now drowning under the muddy waters, their foundations hidden beneath a watery blanket. Vehicles floated aimlessly like toys tossed aside by a petulant child. The University of Phayao, a beacon of knowledge and youth, wasn’t spared from nature’s wrath. Dormitories that once hummed with the…