The Enterprise Asia Linchpin of Asia Awards 2024 was held with a grand celebration at the Bangkok Marriott Hotel The Surawongse, Thailand. Organized by regional NGO Enterprise Asia, this award ceremony was arranged to acknowledge and pay homage to business leaders and enterprises that have made a lasting impact on Asia’s economy.
As a corporation recognized at the event, Muang Thai Life Assurance Public Company Limited (MTL) is truly a symbol of entrepreneurial prowess. MTL is one of Thailand’s leading life insurance insurers and has been operating as an innovative company for over 73 years. MTL’s business strategy is based on happiness and sustainability under the concept of “Happiness Your Way” since the company feels that happiness is everything. MTL continually delivers happiness to its customers, employees, partners, shareholders, and society.
The year 2023 was remarkable for the company’s success, with total assets reaching THB 630 billion, and an impressive CAR of more than 300% (which exceeds the supervisory CAR threshold of 120%). Furthermore, MTL ranked third and second in new business premium (NBP) and health & CI rider in NBP (January – December 2023) with 13.3% and 12.6% market share, respectively, as well as protection and investment insurance accounting for 64% of total NBP.
Considering the current high volatility in both the global and domestic insurance markets, MTL now targets sustainable growth. With democratized insurance as its strategic direction, MTL has consistently enhanced personalized products and services over the years to increase client happiness and trust.
Recently, MTL has launched the “MTL Click Application”, a digitalized service platform with new features such as “MTL Portfolio Management” which provides tailored investment portfolio management by professional fund managers. This innovation makes MTL the first Thai life insurance business to cater to unit-linked customers, assisting them during economic changes and helping investors who do not have the time to handle their assets themselves. This platform has received numerous awards and is approaching 1,300,000 downloads.
Furthermore, “Care Plus”, which launched in 2023, is a critical illness insurance that covers major medical conditions by combining cutting-edge modern medical treatments such as targeted therapy, stem cell therapy, immunotherapy, and online hemodiafiltration. This product is intended to provide comprehensive coverage for common ailments in Thailand, as well as treatments that can help Thais live longer. “Care Plus” has grown in popularity, resulting in a 10% YoY growth in new business premiums for MTL, and is becoming the second-most preferred insurance in the Thai market landscape.
Recognized as a first-class corporation at the Enterprise Asia Linchpin of Asia Awards 2024, Muang Thai Life Assurance Public Company Limited now joins the exclusive ranks of entrepreneurs and corporations that have gained the title of Linchpin of Asia. This company is an integral part of the property development industry and a potent influencer in Asia’s business landscape.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are an investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplift the economic status of people across Asia, and ensure a legacy of hope, innovation, and courage for future generations. Please visit www.enterpriseasia.org for more information.
About Enterprise Asia Linchpin of Asia Awards
The prestigious Enterprise Asia Linchpin of Asia Awards is a premier recognition program dedicated to honoring only the most excellent and elite industry leaders and enterprises exclusively selected across Asia. The award honors the best business leaders and enterprises in Asia who have triumphed in the ever-changing waters of business, forging success at the peak of their respective industries. For further information, please visit www.apea.asia/linchpinofasiaawards.