Muang Thai Life Assurance - Ageas - Muang Thai Insurance Celebrating a Cherished 20-Year Relationship

Muang Thai Life Assurance Public Company Limited, Ageas SA/NV, and Muang Thai Insurance Public Company Limited celebrated a grand 20-year cherished partnership, hosting the event "20th Anniversary: Honouring Our Treasured Relationship." They continue to strengthen their collaboration to enhance the financial security of the Thai people through a diverse range of insurance innovations, catering to all needs and improving customer satisfaction for sustainable happiness.

The celebration was attended by Mr. Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited, Mr. Bart De Smet, Chairman of Ageas SA/NV, Mr. Hans De Cuyper, Chief Executive Officer of Ageas SA/NV, and Mrs. Nualphan Lamsam, Chief Executive Officer of Muang Thai Insurance Public Company Limited at the Royal Ballroom, Mandarin Oriental Hotel, Bangkok.

The event was graced by the presence of Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, Mr. Julapun Amornvivat, Deputy Minister of Finance, Mr. Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance, Mr. Worapak Thanyawong, Advisor to the Minister of Finance, Mr. Chuchatr Pramoolpol, Secretary-General of the Office of Insurance Commission (OIC), Mrs. Sarah Gasquard, Chargee d'Affaires of the Embassy of the Kingdom of Belgium in Thailand, alongside other distinguished guests in a warm and vibrant atmosphere.

Mr. Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited, said "I am deeply pleased that the business collaboration between Ageas and Muang Thai Life Assurance has been a success, resulting in strong growth and a distinct differentiation in the business. This partnership has also supported Thais in receiving life and health insurance coverage and has contributed to the development of new products, as well as the integration of new technologies to enhance customer satisfaction.

During this significant period of growth and expansion for Muang Thai Life Assurance, Ageas has been a partner since 2004. This collaboration has been crucial in fostering business innovation, particularly in life insurance products, technology, and diverse sales channels, including brokerage, bancassurance, direct marketing, and comprehensive services. These efforts have led to sustainable growth, positioning the company as a leader in Thailand's life insurance industry. The partnership has been driven by a shared commitment to ethics and good corporate governance, allowing the company to remain a trusted brand among Thai people to this day.

From that time to today, throughout these 20 years, Ageas has become "more than just a business partner" to me, as we have weathered various crises together. Moving forward, I believe that this business collaboration will play an important role in contributing to the country's economic stability and helping people in Thailand and neighboring countries lead more secure lives through life and health insurance coverage."

Mr. Hans De Cuyper, Chief Executive Officer of Ageas SA/NV, added, "I am delighted to be celebrating 20 years of a successful partnership between Muang Thai Group and Ageas in Thailand. This cooperation with the group, built on trust, mutual respect, and a shared vision, has reflected these values over the past two decades. Together, we have faced challenges and celebrated successes, leading to this special occasion. Our strong partnership is not only about daily business growth but also about building a robust company and expanding into new markets, all while maintaining sustainable growth. Our collaboration has created leading insurance companies in Thailand, and I would like to thank our valuable partner, KASIKORNBANK, for their unwavering confidence in the power of bancassurance. Over the past 20 years, our joint efforts have unlocked great opportunities, allowing Muang Thai Life Assurance succeed in Thailand's bancassurance market.

In the future, Ageas will further strengthen its partnership with Muang Thai Group by expanding digital capabilities and offering innovative insurance solutions. Together, we will create value not just for our customers but for Thai society as a whole. Looking ahead, I am confident that this strong partnership will continue to turn challenges into new opportunities, and it will grow as a success story between Thailand and Belgium, with many more achievements to come."

Mrs. Nualphan Lamsam, Chief Executive Officer of Muang Thai Insurance Public Company Limited, said, "I am honored and delighted to be part of this 20-year anniversary celebration of the strong partnership among the three companies. Today, we are not only celebrating business success but also reaffirming the close relationship built on trust and shared vision. We have supported one another through every moment, serving both as guardians and protectors in times of crisis, as reflected in our slogan 'Face Crisis with a Smile.' This has been proven through various crises, including the tsunami, financial crisis, major Bangkok floods, and the COVID-19 pandemic, which we have overcome together with resilience.

As I also serve as Advisor in Economic Diplomacy for the Kingdom of Belgium, I am confident that this partnership will help drive and enhance our business potential on an international level, serving as a great example of economic collaboration between the two countries. Together, we will continue to explore new opportunities and possibilities to offer the highest quality products and services, adapting to the world's changes and meeting customer needs in the digital era. May the relationship between our organizations continue to grow and remain strong for many years to come."

On this occasion, the three companies also jointly donated funds to assist flood victims through the Thai Red Cross Society. Muang Thai Life Assurance donated 1,000,000 Baht. Ageas donated 1,000,000 Baht, and Muang Thai Insurance donated 1,000,000 Baht, totaling 3,000,000 Baht. The donation was received by Mrs. Janprapa Vichitcholchai, Deputy Director of the Fund Raising Bureau, Thai Red Cross Society.