Viriyah firm plans move in Cambodia

Thailand's Viriyah Insurance, one of the biggest firms of its kind in the country, is seeking to expand its motor vehicle business in Southeast Asia, according to a report yesterday in the Bangkok Post.

Viriyah Insurance is looking for local partnerships with companies in Cambodia, Malaysia and Myanmar, with a special emphasis on commercial truck coverage, the newspaper reported.

Arnon Opaspimoltum, deputy managing director of Viriyah Insurance, was quoted as crediting the planned expansion to increased trading activity among ASEAN countries as the ASEAN Economic Community grows stronger. The company has already reached a deal with Laos and is expected to conclude the discussions for partnerships in Cambodia, Malaysia and Myanmar by the end of this year.

Chhay Rattanak, president of the insurance association in Cambodia, welcomed the deal, saying more competition means better deals for customers.