Bangkok: Muang Thai Life Assurance has become the first insurance company in Thailand to sign the UN-supported Principles for Responsible Investment (PRI). The company has announced its commitment to sustainable development across all dimensions, marking a significant step in its investment strategy.
According to Thai News Agency, Mr. Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited, highlighted the company's investment goals focused on creating long-term returns under an appropriate level of risk. The aim is to maintain stability and strength in finance, service, and corporate image, while adhering to corporate governance and sustainable development guidelines. The company emphasizes balancing environmental, social, corporate governance, and economic (ESG) factors to achieve sustainable happiness for all stakeholders. The responsible investment principle is expected to maximize benefits for investors and ensure long-term sustainability in the capital market.
Mr. Sara expressed satisfaction with Muang Thai Life Assurance becoming a signatory of the PRI, reflecting its commitment to internationally recognized investment principles aligned with the United Nations Sustainable Development Goals. The company aims to collaborate with other signatories to advance responsible and sustainable investment initiatives.
Since 2019, Muang Thai Life Assurance has established an ESG policy for investment and plans to evolve it into a Responsible Investment Policy by 2024. The approach includes applying responsible investment principles in selecting and analyzing securities, engaging with businesses, and collaborating with market participants to enhance the company's investments and the capital market.
Mr. David Atkin, CEO of PRI, welcomed Muang Thai Life Assurance as the first Thai life insurance firm to sign the PRI. He emphasized the critical role of the insurance industry in integrating sustainability into risk assessments and expressed eagerness to work with Muang Thai Life Assurance to promote responsible investment understanding in the region.
PRI, founded in 2006 in New York City, is a UN agency offering guidelines on responsible investment principles that incorporate ESG issues. The initiative involves collaboration among the UN Global Compact, UNEP Finance Initiatives, and investment-related project participants to bolster the long-term stability of capital markets and the global economy. Currently, over 5,000 signatories worldwide, managing $128 trillion in assets, adhere to six principles of responsible investing, including integrating ESG issues into investment analysis and decision-making and promoting ESG practices in the investment industry.