Business Services Industry
Japan Firm Millea Holdings to Tie Up with BankThai in Life-Insurance Business.
Knight Ridder/Tribune Business News, April, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Apr. 9--TOKYO -- Millea Holdings Inc. said Friday it has agreed with BankThai Public Co. to tie up in the life insurance business in Thailand from May.
The holding company said the midsize Thai commercial bank and Millea's two units -- Millea Asia Pte. and Millea Life Insurance (Thailand) Public Co. -- have agreed to jointly promote sales of life insurance products at bank counters in Thailand.
Under the agreement, BankThai will sell insurance to its clients through its employees by utilizing its branch network, while Millea Life will provide life insurance products to BankThai, Millea said.
To further strengthen the alliance, BankThai will acquire a 23...
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