May 2019

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The Thai insurance market after the floods

Source: Asia Insurance Review | Mar 2013

That the floods in Thailand in 2011 were a turning point was never in question, but like many turning points, they cannot happen overnight and the industry must heal carefully from the trauma in order not to make matters worse, says Mr Richard N C Austen from Asia Reinsurance Brokers Pte Ltd. Fifteen or so months on, after many of the claims have been settled, he notes that recapitalisation has taken place as needed and changes are beginning to happen.

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