Total premiums in the Thai non-life insurance sector are forecast to expand by 4.5-5% to reach THB282bn ($8.56bn) - THB287bn in 2023 on the back of economic revival, according to the Thai General Insurance Association (TGIA).
The Thai General Insurance Association (TGIA) has revealed that total cumulative insurance claims against COVID-19 amounted to THB60bn ($1.78bn) from the start of the pandemic in the country in 2020 to the end of March 2022.
Thai Group Holdings (TGH), the parent company of Southeast Insurance and Thai Insurance, has reported a net loss of THB3,360m ($103m) for the financial year ended 31 December 2021.
Southeast Insurance and Thai Insurance filed a lawsuit against Suttipol Taweechaikarn, secretary-general of the Office of Insurance Commission (OIC), accusing him of unlawfully forbidding insurance firms from terminating Covid insurance policies with a lump sum payment and causing serious damage to the companies.