Allianz Ayudhya Capital PCL (AYUD) to acquire Aetna Thailand, further expanding its presence in the Thai insurance market

Downloads

Related links

The proposed acquisition will allow AYUD to expand its client base and distribution channels and increase its market share in health insurance, thereby providing a wider range of insurance solutions to customers in Thailand. The transaction will not have any immediate impact on cover, products, processes or support services and will not affect existing contracts of Aetna Thailand. Allianz Ayudhya General Insurance Pcl (AAGI), a subsidiary of AYUD, and Aetna Thailand will initially continue to operate as usual, looking after partners and customers, while working on the longer term operational set-up with a focus on a smooth transition for business partners and customers. Subject to receipt of required shareholders’ approval and the fulfilment or waiver of the other conditions precedent, the transaction is expected to complete within the next three months.

Thomas Charles Wilson, CEO of Allianz Ayudhya Group and Allianz Ayudhya Assurance PLC, said “This acquisition demonstrates Allianz Ayudhya Group’s strong financial position, allowing us to significantly expand our presence in the Thai health insurance market. In addition, it brings increasing scale and diversification benefits to our insurance operations. We are very pleased with this acquisition and remain committed to provide the best insurance solutions to serve our customers in Thailand.”

Damian Delaney, Managing Director & CEO, Aetna International Thailand, added “This is positive news for our respective companies, our customers and staff in Thailand. By joining the Allianz Ayudhya Group our partners and members will benefit from our shared expertise in a customer-first approach to health insurance and health services. We can look forward to joining forces to further advance our combined mission of helping the residents of Thailand on their paths to better health.”

About Allianz Ayudhya Group

Allianz Ayudhya Capital Public Company Limited is a listed company at the Stock Exchange of Thailand, under the ticker symbol AYUD. Its subsidiary Allianz Ayudhya General Insurance Pcl and affiliated company Allianz Ayudhya Assurance Pcl offer a wide range of insurance solutions across the Non-Life and Life segment serving more than 1.9 million customers in Thailand.

About Allianz in Asia

Asia is one of the core growth regions for Allianz, characterized by a rich diversity of cultures, languages and customs. Allianz has been present in the region since 1910, when it first provided fire and marine insurance in the coastal cities of China. Today, Allianz is active in 15 markets in the region, offering its core businesses of property and casualty insurance, life, protection and health solutions, as well as asset management. With its more than 36,000 staff, Allianz serves the needs of over 21 million customers in the region across multiple distribution channels and digital platforms.

The Allianz Group is one of the world's leading insurers and asset managers with more than 126 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.7 trillion euros** of third-party assets. Thanks to the systematic integration of environmental, social and governance criteria in our operations, business processes and investment decisions, we continue to be recognized as among the sustainable insurers in the Dow Jones Sustainability Index (September 23, 2022). In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

*Including non-consolidated entities with Allianz customers.
** As of September 30, 2022

Press contacts

Taveechaiwattana, Ms. Patchara
Allianz Thailand
Noridahwati Razak
Allianz Singapore
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

Further information

Allianz announces share purchase agreements to acquire 72 percent of European Reliance; Launch of a voluntary tender offer for European Reliance shares outstanding

Allianz SE today announced it is entering into certain Share Purchase Agreements (“SPAs”) to acquire 72 percent of European Reliance General Insurance Company SA (“European Reliance”), a leading Greek insurer with 223 million euros in gross written premiums (GWP), with a network of 110 retail offices and 5,667 agents.

Allianz X leads funding round of London-based fintech OpenGamma

 Allianz X has led a funding round of London-based B2B fintech OpenGamma with a total investment of USD 21 million. In addition to the digital investments unit of Allianz, all existing investors participated in the funding round.

UniCredit and Allianz further strengthen their partnership in Italy and abroad

UniCredit and Allianz have signed a multi-country Framework Agreement (the “Agreement”), setting the basis for enhanced collaboration, benefiting clients of both companies and building on the companies’ longstanding and highly-successful bancassurance partnership since 1996.