IAG Annual Report 2006 - Business Overview Asia

BUSINESS OVERVIEW

ASIA

Asia IAG has a growing presence in Asia, with interests in China, Malaysia, Singapore and Thailand.

China: owns CAA (a roadside assistance company); and has reached preliminary agreement to invest in 24.9% of China Pacific Property Insurance Company.
Malaysia: owns a 30% stake in AmAssurance.
Singapore: regional office; agreed to acquire Alba, a specialist Asian underwriting agency and syndicate to provide reinsurance support.
Thailand: owns NZI Thailand (predominantly commercial insurance) and 96% of Safety Insurance (predominantly personal insurance).

2006 FINANCIAL PERFORMANCE*

PRODUCTS

China – roadside assistance
Malaysia – education, family and protection, retirement, health care, saving and investment, home protection, motor vehicle
Thailand – commercial property, product and public liability, marine, travel, motor vehicle and fire insurance

	Established in Beijing in 1995, CAA is China’s largest roadside assistance provider. IAG has held a stake in CAA since 1999, which increased to 100% in 2003.
	NZI is the brand used for IAG’s commercial insurance business in Thailand. Established in 1985, IAG acquired and rebranded the business in 2005.
	Safety Insurance provides predominantly personal insurance in Thailand. IAG has held a stake in Safety Insurance since 1998, which was increased to 96% in 2006.
	AmAssurance is Malaysia’s second-largest motor insurer and fifth-largest general insurer. IAG acquired a 30% interest in AmAssurance in 2006.

* Figures include the allocation of the Group’s captive reinsurer.

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