Company History

Krungthai Panich Insurance Public Company Limited was established on 1st September 1953 under Ror Sor Por Insurance Co., Ltd., with a registered capital of 3 million baht. The company was led by General Pramarn Adireksarn, the Leader of Registration Committee, was then Deputy Minister of Ministry of Transport and served as Director of Express Transportation Organization (ETO). The first office was situated on 301 Charoenkrung Road, Pomprab District, Bangkok and the main business was motor insurance.



The initial executive directors were


           1. Major General Pramarn Adireksarn, Chairman of the Board
           2. CDR Luangwaree Ronnachit, Committee Director
           3. Mr. Kiat Srifuengfung, Committee Member
           4. Mr. Sa-ard Booranakarn, Committee Member
           5. Colonel Wong Wongsomboon, Committee Member
           6. Mr. Dang Ruengwiset, Committee Member
           7. Mr. Manoon Borisuthi, Committee Member / Secretary


Founders:

           1. Major General Pramarn Adireksarn
           2. CDR Luangwaree Ronnachit
           3. Colonel Wong Wongsomboon
           4. Luangsakol Tongwijarn
           5. Mr. Kiat Srifuengfung
           6. Mr. Boonsong Srifuengfung
           7. Mr. Uthanenis Thechapaiboon
           8. Mr. Sa-ard Booranakarn
           9. Mr. Dech Boon-long


1954

The cabinet of Field Marshal Plaek Phibunsongkhram announced that the government would take Ror Sor Por Insurance Co., Ltd., under its patronage. It’s the first and only insurance company in Thailand to be bestowed the honor.


1971

The company had increased its business capability, and expanded its business to provide total solutions in non-life insurance in accordance with Non-life Insurance Act while developing its service to be on par with international standard.


1995

The visionary executives had carefully planned and set framework for business development in order to strengthen and expand the company’s business operation. On 1st August 1995, the company had decided to jointly invest with Krung Thai Bank PCL, by holding 40% of 100 million baht registered capital and has changed its name to Krungthai Panich Insurance Co., Ltd.


From 2004 until present

KPI has been considered and selected from Office of Insurance Commission as the outstanding non-life insurance company for many years with the company’s management excellence and its continuing progress.


2007

The company had increased registered capital to 110 million baht with Krung Thai Bank PCL., and increased share holding to 45% at present.


2009

With the continued business expansion, the company had decided to build KPI Tower as its new head quarter. The construction work had begun in July 2009 and complete in May 2011. The building situated on 1122 New Petchaburi Road, Makkasan, Ratchathewi, Bangkok. KPI Tower has 24 floors with usable area of 24,000 sq. m. It is our commitment to our customers for greater efficiency with added convenience and speed.


2012

The company has been registered as public company limited on 1st June 2012 in accordance with Non-life Insurance Act (2nd Ed.) 2008, Article 56, Clause 2, which is stated that non-life insurance company in the form of “Company Limited” must change into “Public Company Limited” from the promulgation date of the Act since 5th February 2008 with the approval by the company’s board of director. In the 59th annual general meeting, an extraordinary resolution has been agreed to transform “Krungthai Panich Insurance Co., Ltd.” into the registered name as “Krungthai Panich Insurance Public Company Limited”


Present

Krungthai Panich Insurance Public Company Limited provides total solutions for non-life insurance as we continue to innovate variety and wide range of products and services in response to our customers’ needs. With our experience, we commit to do our business with integrity and have our customers’ best interest at heart. We believe that non-life insurance can decrease burden to any loss or damage to life and asset resulting from an unforeseen incident. We’re strongly confident that our business will expand further and will contribute to the betterment of our customers, business partners, staffs as well as the sustainable growth of Thai economy as a whole.