Sri Ayudhya General Insurance Company Limited (SAGI), formerly known as BT Insurance Company Limited (BTI), is entering its 29th year with a new vision, having just formally become an affiliated company of Ayudhya Insurance PCL (AYUD) in November 2010.
Sri Ayudhya General Insurance Company Limited (SAGI), formerly known as BT Insurance Company Limited (BTI), is entering its 29th year with a new vision, having just formally become an affiliated company of Ayudhya Insurance PCL (AYUD) in November 2010. With the recent boost in its registered capital to Bht. 1.2 billion in March 2011, and an impending complete transfer of the existing Ayudhya Insurance part of business into the new company, SAGI is set to become one of the leading general insurance companies in Thailand. When the transaction is complete, the company will be ranked at no. 5 in the market for fire and marine & transportation insurance.
SAGI, under the guidance of AYUD, will continue to develop innovative products to meet with ever-changing consumer demands on insurance coverage and protection.
BT Insurance was first established on September 21, 1982 as “Sukhumvit Insurance Company Limited” with the initial registered capital of Baht 60 million to engage in non-life insurance business. The registered capital was increased to Baht 200 million in 1995 and to Baht 300 million, fully paid up in 2000. The company focused its insurance business in non-motor insurance, with an emphasis on property insurance. BTI worked closely with CIMB Thai to build its bancassurance distribution channel to reach regional customers better. The company later changed its name to “Thai Thanakit Insurance Company Limited” and in May 2002, it once again changed its name to “BT Insurance Company Limited”.
In November 2010, the company was purchased by The Ayudhya Insurance PCL (AYUD)and to align the brand values with AYUD, reputed for its outstanding financial stability, innovativeness and service excellence, the company once again changed its name to SRI AYUDHYA GENERAL INSURANCE COMPANY LIMITED effective March 1, 2011. The capital was increased to Bht. 1.2 billion to prepare for future business expansion and growth.
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