In the local insurance industry said that competition in the market will occur, but not something that should worry.
Bangkok Post newspaper reported yesterday that the insurance companies Viriyah Insurance is seeking a partnership with the insurance company in Cambodia, Malaysia and Myanmar.
Arnon Opaspimoltum Viriyah Insurance Insurance Management Vice President, told the Bangkok Post that the car insurance plans to expand service delivery is made while the action Trade between ASEAN member countries have more and closer economic integration of ASEAN. He said the company also plans to expand insurance to the goods contained in the additional cars in the next two years.
Mr. Ratanak Insurance Association of Cambodia, said he was aware of the project would come of the company since about a year ago. He did not think that the arrival of this company brings competition.
He said: 'Viriyah insurance company, according to his focus on car vehicles. He specialized in vehicles. It's good because when there is a more competitive price can be cheaper.
Youk grew mighty Forte Insurance said potential insurance sector in the country is attractive to insurance companies to expand its branch.
He said: 'look at potential coolest insurance sector in the country, they have extensive experience in transport insurance Thailand .
Michael Girling, CEO of Infinity Insurance Company said that the auto insurance market in Cambodia and Thailand, there is a big gap, while the total value by 7 , $ 2 million compared to the Thai market, worth an estimated $ 2.5 billion.
He added: 'With the size and underestimate Viriyah Insurance's strategy could hurt profits in the auto insurance market.
Vice Phearum financial industry department of the Ministry of Economy and Finance, said he had not yet received information from the request Viriyah Insurance on expand transportation vehicle insurance services in the country yet.
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