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Muang Thai Insurance to increase investment in Laos biz

Muang Thai Insurance PCL will increase its investment in Laos joint venture ST-Muang Thai Insurance Co. Ltd. by US$714,227.

The company said in an Oct. 11 release that it will buy 80,000 shares of ST-Muang Thai Insurance from Muang Thai Holding Co. Ltd. and purchase 218,181 newly issued shares of the Laos insurer. Muang Thai Insurance's stake in the joint venture will rise to 22.5% from 10%.

The investment aims to expand the nonlife insurance business in Laos.