BANGKOK--(BUSINESS WIRE)--The Siam Commercial Samaggi Insurance PCL, an ACE Group company, announced today the appointment of Khun Nittaya Piriyathamwong, as its new Managing Director. Khun Nittaya replaces Khun Chiravuthi Bunyasiri, who was on secondment to the insurer from Siam Commercial Bank, where he will return to work.
Khun Nittaya Piriyathamwong is currently the Group Head, Center of Excellence Group for the insurer. She will assume the role of Managing Director with effect from July 1, 2014.
Khun Nittaya has been with the company for over 2 years. Prior to that, she worked for The Insurance Premium Rating Bureau as a Secretary General for 7 years and has held senior positions in the research industry. She has a broad range of management experience encompassing business management, strategic management, research, finance and operations.
According to Khunying Jada Wattanasiritham, Chairperson, Board of Directors The Siam Commercial Samaggi Insurance PCL, “We are grateful to Khun Chiravuthi for his commitment and diligence in managing the company over the last 9 years. He has grown the company from strength to strength and skilfully steered it through some challenging times. We thank him for his services and wish him well in his new appointment, while we look forward to Khun Nittaya’s leadership.”
On Khun Nittaya’s appointment, Juan Luis Ortega, Regional President for ACE in Asia Pacific said, “Our business in Thailand is one of the most dynamic in the region. The prospects ahead are bright as we have ambitious plans to grow our products and distribution channels given the opportunities in this exciting emerging market. We are delighted to welcome Khun Nittaya to the leadership team. With her strong passion to support the business growth and her proven ability to lead successful changes previously in the company, Khun Nittaya is ideally suited to steward the company to its next level of development.”
ABOUT THE SIAM COMMERCIAL SAMAGGI INSURANCE PUBLIC COMPANY LIMITED
The Siam Commercial Samaggi Insurance Public Company Limited in Thailand is an ACE Group company, one of the world’s largest multiline property and casualty insurers. ACE and its local partner own 93.03% of the insurer including the 60.86% stake acquired from The Siam Commercial Bank PCL in April 2014.
With operations in more than 50 countries, ACE Group provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. ACE’s core operating insurance companies are rated AA for financial strength by Standard & Poor’s and A++ by A.M. Best.
Established in 1947 and listed on the Stock Exchange of Thailand, Bangkok-based The Siam Commercial Samaggi Insurance PCL [SCSMG] is a major writer of auto, small commercial and personal accident insurance. A key player in the local general insurance market, it distributes its products including fire, marine, auto and personal accident insurance through banks, independent agents and its branch network.