30 July 2024
Bangkok (30 July 2024) – Krungsri (Bank of Ayudhya PCL), a member of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group and one of the world’s largest financial organizations, announced a partnership alliance with MST Insurance Service Co., Ltd., one of the largest insurance agents in Japan to enhance insurance brokerage services for Japanese corporates operating in Thailand. This partnership leverages Mitsubishi UFJ Financial Group's (MUFG) extensive network to provide comprehensive insurance solutions tailored to the needs of Japanese businesses in Thailand.
Mr. Kenichi Yamato, Krungsri President and CEO, said: “Through this partnership, we are committed to enhancing our bancassurance offerings by leveraging MUFG's expansive network and the strong relationship with MST Insurance Service. Krungsri has established a dedicated team to work closely with MST Insurance Service, ensuring top-tier service delivery in Thailand. Our JPC/MNC Banking led by Mr. Bunsei Okubo as Head of JPC/MNC Banking, provides unique solutions to Japanese corporates operating in Thailand, helping them efficiently manage their insurance needs and expanding our service range in the JPC/MNC Banking sector by this collaboration. it believes this partnership will elevate our position, offering a comprehensive range of services for Japanese businesses.”
Mr. Teruyuki Sasaki, President & CEO of MST Insurance Service Co., Ltd., added: “We are excited about this collaboration with Krungsri. By combining our insurance expertise alongside Krungsri's robust relationships with Japanese corporate customers, we are poised to deliver tailored high-quality insurance solutions that meet the unique needs of our Japanese customers in Thailand. In our ongoing efforts to expand our customer base in Thailand, MST has continuously discussed with Krungsri about forming this partnership. With this alliance, Krungsri will now offer professional and high-standard insurance brokerage services to Japanese corporate customers throughout Thailand.”
Krungsri, with a deep understanding of the local market and commitment to maintaining its position as a leading trusted partner of Japanese corporations, alongside MST Insurance Service, and its extensive insurance expertise, this partnership alliance will enhance value and support all Japanese companies’ expansion in Thailand.