Muang Thai Life Assurance is seeking to expand its business by more than 20% to 40bn baht (£800m) this year, according to reports.
According to The Bangkok Post, the group's growth will be driven by its multi-channel distribution strategy and more products for untapped segments in the lucrative Thai market.
Muang Thai Life president and CEO Sara Lamsam, explained: "Of course, economic uncertainties and natural disasters are risk factors, but we're confident of the effective regulations controlling the Thai insurance industry that helped the industry go through several crises in the past".
Bangkok Post reports that last year the company collected premiums from new policies worth 16.36bn baht, showing growth of 25% from 2010. Renewal premiums rose 30% to 21.52bn baht, bringing total premium income to 37.88bn baht, a rise of 28% year-on-year.
Bancassurance contributed 60% of new business premiums, while a 30 000-strong sales agent team helped Muang Thai Life it provincial bases.
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