Allianz Ayudhya Capital has agreed to acquire 100% of Aetna Thailand, further expanding the German insurance giant’s share in the Thai health insurance market.
According to Allianz, the proposed acquisition will allow it to expand its client base and distribution channels and increase its market share in health insurance. The transaction will not have any immediate impact on Aetna Thailand’s business.
Following the completion of the transaction, which is expected to take place within the next three months, Allianz Ayudhya General Insurance and Aetna Thailand will initially continue to operate as usual while working on a smooth transition process for business partners and customers.
“This acquisition demonstrates Allianz Ayudhya Group’s strong financial position, allowing us to significantly expand our presence in the Thai health insurance market,” said Thomas Charles Wilson, CEO of Allianz Ayudhya Group and Allianz Ayudhya Assurance. “In addition, it brings increasing scale and diversification benefits to our insurance operations. We are very pleased with this acquisition and remain committed to provide the best insurance solutions to serve our customers in Thailand.”
“This is positive news for our respective companies, our customers and staff in Thailand,” said Damian Delaney, managing director and CEO, Aetna International Thailand. “By joining the Allianz Ayudhya Group, our partners and members will benefit from our shared expertise in a customer-first approach to health insurance and health services. We can look forward to joining forces to further advance our combined mission of helping the residents of Thailand on their paths to better health.”
