CIGNA Insurance Asia Pacific To Assume Thailand Branch Business

CIGNA Insurance Asia Pacific Limited (CIAPL) will, with regulatory approval, assume the insurance business of the Thailand branch of CIGNA Property and Casualty Insurance Company, effective September 1, 1998. CIAPL is a wholly owned subsidiary of CIGNA International Holdings, Ltd., whose ultimate parent is CIGNA Corp.

Mrs. Supunnee Jutidumrongpan will remain manager of CIAPL's Thailand operation.

"CIGNA has a long-standing presence and commitment to developing our business in the Asia Pacific area," says Paul E. Hartley, senior vice president of CIGNA International's Asia Pacific region operations. "The transfer of business to CIAPL is part of our global effort to operate our worldwide businesses through a select number of domestic and regional insurance entities. This enables us to apply, to the fullest extent, the strengths of our global network to meet the needs of our customers in local markets."

CIGNA has had a presence in Thailand since the mid-1930s through AFIA, a CIGNA predecessor organization doing business in the region. In 1968, AFIA/Thailand opened an office to write direct fire and marine insurance in Bangkok. This was the first foreign insurance company to be fully staffed and managed by Thai nationals.

All current insurance and reinsurance policies of the Thailand branch of CIGNA Property and Casualty Insurance Company will be assumed by CIAPL. Any endorsements to or renewals of existing policies made on or after 1 September 1998 will be issued by CIAPL.