KSK TO GROW IN­SURANCE BUSI­NESS IN IN­DONE­SIA AND THAI­LAND

[ Source: Ber­nama, 11 July 2012 ]

Insurance - - COMPANY CORNER -

KSK Group Bhd has plans to boost its in­surance busi­nesses in In­done­sia and Thai­land through or­ganic and in­or­ganic growth strate­gies. They aim to reach the top ten po­si­tions within the next five years. Joanne Kua, chief op­er­at­ing of­fi­cer, said that the com­pany has al­lo­cated RM100 mil­lion from the RM1.55 bil­lion pro­ceeds from the dis­posal of 100% eq­uity in­ter­est in Kur­nia In­surans (M) Bhd to AmG In­surance Bhd. KSK, for­merly known as Kur­nia Asia Bhd, will now fo­cus on grow­ing its gen­eral in­surance busi­ness through PT Kur­nia In­surance In­done­sia and Kur­nia In­surance (Thai­land) Co Ltd (KIT). The com­pany be­lieves that In­done­sia and Thai­land of­fer good op­por­tu­ni­ties as they are de­vel­op­ing mar­kets with large pop­u­la­tions and grow­ing mid­dle in­come groups. For the 2011 fi­nan­cial year, the In­done­sian mar­ket’s con­tri­bu­tion was less than 5% of to­tal rev­enue, while Thai­land’s op­er­a­tions gen­er­ated over 700 bil­lion bath. (100 bath = RM9.20)

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