Miller expands Thailand presence with energy sector partnership
Miller expands Thailand presence with energy sector partnership | Insurance Business Asia
Insurance News
Miller expands Thailand presence with energy sector partnership
It builds on the two firms’ existing collaboration in P&C
Insurance News
By
Kenneth Araullo
Miller has announced a new partnership with Central Insurance Services (CIS) in Thailand, aimed at enhancing the firm’s energy offerings and expanding its reach within the region.
This collaboration positions Miller and Central to cater to energy clients based in Thailand. The partnership is also set to bolster local service capabilities and leverage in-depth relationships and insights into the Thai market. As part of the partnership, Miller will extend technical consulting services, risk engineering, reinsurance placement, and claims services.
The partnership also extends Miller and Central’s existing collaboration in P&C, now broadening their focus to encompass the energy sector. This strategic move also underscores Miller’s growth aspirations in Asia, particularly within the domains of energy and reinsurance.
“I’m excited to deepen our already strong relationship with Central and enhance our energy, power and construction offering in Thailand. Thailand is an important market for energy, and one of the largest markets in Southeast Asia with over US$11 billion of non-life premiums placed annually. I look forward to working closely with Central and continuing to enhance our core growth strategy in the region,” Miller Asia head Ron Whyte said.
CIS Group head of insurance Narin Setabandhu also commented on the collaboration, saying that the firm has long been exploring opportunities in other niche lines with industry partners.
“Power and energy was identified as a niche line of business and with Miller’s expertise in this space and our existing valued partnership, I am excited to bring together our two highly complementary skill sets. Our joint belief in the importance of specialism and service excellence will allow us to serve the growing Thai market and bring clients the expertise they need,” Setabandhu said.
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