MICROCAPITAL BRIEF: 7-Eleven to Sell Microinsurance in Thailand

7-Eleven, a convenience store subsidiary of Japan-based retail group Seven and I Holdings, reportedly has been licensed to sell microinsurance policies in Thailand. The firm will offer microinsurance products underwritten by Allianz Charoen Pokphand Group (CP) General Insurance, Bangkok Insurance, Muang Thai Insurance, Muang Thai Life Assurance and Thaivivat Insurance. Annual premiums range from THB 490 (USD 16) to THB 1,000 (USD 33) depending on the type of product. Coverage levels have not been disclosed. 7-Eleven expects to sell 300,000 policies during 2013.

As of 2012, 7-Eleven operates approximately 6,700 stores in Thailand. For the year 2010, Allianz had total assets of EUR 625 billion (USD 824) and Muang Thai Life Assurance had total assets of THB 94 billion (USD 3.15 billion). For the year 2011, Bangkok Insurance had total assets of THB 51.9 billion (USD 1.74 billion) and Thaivivat Insurance had total assets of THB 3.49 billion (USD 117 million). For the year 2012, Muang Thai Insurance had total assets of THB 17.2 billion (USD 577 million).

By Brendan Millan, Research Associate

About 7-Eleven
7-Eleven, a subsidiary of the Japan-based retail group Seven and I Holdings, is a convenience store chain with 48,000 branches in 16 countries in Asia, Europe and North America. For the year 2012, Seven and I Holdings reported total assets of JPY 3.89 trillion (USD 41.4 billion).

Sources and Additional Resources:

[1] The Nation: “Micro-insurance on Offer at 7-Eleven” by Sucheera Pinijparakarn, http://www.nationmultimedia.com/business/Micro-insurance-on-offer-at-7-Eleven-30199996.html

MicroCapital.org story, February 11, 2013, “Thailand’s Srisawad Money on Wheels Scales Down Microlending to Fresh-market Vendors, Shifts to Truck, Tractor Financing”, https://www.microcapital.org/microcapital-brief-thailands-srisawad-money-on-wheels-scales-down-microlending-to-fresh-market-vendors-shifts-to-truck-tractor-financing/

MicroCapital.org story, December 9, 2012, “TransferTo Partners with AT&T, Taiwan Mobile, Korvac Holdings to Allow Customers to Send, Receive Phone Airtime in the Americas and Asia”, https://www.microcapital.org/microcapital-brief-transferto-partners-with-att-taiwan-mobile-korvac-holdings-to-allow-customers-to-send-receive-phone-airtime-in-the-americas-and-asia/

MicroCapital.org story, August 20, 2012, “Thailand’s Government Banks May Refinance Microloans Via Mobile Banking”, https://www.microcapital.org/microcapital-brief-thailands-government-banks-may-refinance-microloans-via-mobile-banking/

MicroCapital.org story, June 1, 2012, “Allianz to Use Satellites to Insure Small-scale Farmers in Asia”, https://www.microcapital.org/microcapital-brief-allianz-to-use-satellites-to-insure-small-scale-farmers-in-asia/

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