ASIA
IAG’s Asia division has interests in Thailand, Malaysia, India and China, and is selectively pursuing additional opportunities to expand into other Asian markets, including Indonesia and Vietnam.
IAG provides insurance in Thailand under the Safety Insurance and NZI Thailand brands. In Malaysia, IAG has a 49% interest in the general insurance arm of AmBank Group, AmG Insurance Berhad (AmG), which trades under the AmAssurance brand. In April 2012 AmG entered into a conditional agreement to acquire Kurnia Insurans (Malaysia) Berhad. (Kurnia). When completed, the acquisition will make AmG the largest general insurer in Malaysia, with 13% of Malaysia's general insurance market and a clear number one position in motor insurance. In India, IAG has established a general insurance joint venture with the State Bank of India (SBI), known as SBI General Insurance Company.
In April, 2012, we completed the acquisition of a strategic partnership with a Chinese general insurer, Bohai Property Insurance Company Ltd, gaining a foothold in a region that contributes almost 30% to China’s annual insurance premium pool of around US$60 billion. We are now pursuing additional growth opportunities in Indonesia and Vietnam.
What we do
IAG's Asian operations offer personal and commercial insurance products through local brands in different Asian markets.
Products
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Brands
NZI Thailand
NZI is the brand for IAG's commercial insurance business in Thailand. Established in 1985, the company was acquired and rebranded by IAG in 2005.
Safety Insurance
Safety Insurance provides predominantly personal insurance in Thailand. IAG has held a stake in Safety Insurance since 1998, and now holds 98.6% voting rights.
AmAssurance
AmAssurance is a leading Malaysian insurer. IAG has 49% ownership of the general insurance arm of AmBank Group, AmG Insurance Berhad (AmG), which trades under the AmAssurance brand.
SBI General Insurance
IAG has established a general insurance joint venture with the State Bank of India (SBI), known as SBI General Insurance. SBI is India's largest bank and has over 100 million customers and 11,000 branches across the country. It also has access to an additional 46 million customers and 4,500 branches when including its subsidiaries..
Bohai Property Insurance Company Ltd
Bohai Insurance is headquartered in Tianjin in Northern China and was founded in October 2005. It has 265 provincial and city-based branches and a network of agents, with around 3,000 employees.