The total amount of COVID-19 insurance claims since the pandemic-related policies were launched in March 2020 are estimated to have reached THB500m ($16m) as of the end of April, according to Anon Vangvasu, president of Thai General Insurance Association.
Judges gathered online on the 6 May 2021 to deliberate and vote on worthy winners drawn from an impressive shortlist in the final round of judging for the 6th Asia Trusted Life Agents & Advisers Awards.
Asian Reinsurance Corporation (Asian Re) has continued to implement a number of strategic initiatives and business partnerships aimed at expanding its underwriting portfolio and market presence, says AM Best.
The world of technology has undoubtedly revolutionised the financial services industry. Digital tools play a significant role in digitalising tedious processes in onboarding, planning, and client management. Traditionally, financial consultants would rely on manual processes to curate customers' financial plans. With the introduction of digital financial planning tools, such as GoalsMapper, the once-conservative industry has begun to embrace digitalisation. Automating these processes have also enabled financial consultants to better cater to client relationships.
The outlook on Thai Life Insurance Public Company's (TLI) Insurer Financial Strength (IFS) Rating has been changed to 'Stable' from 'Negative', says Fitch Ratings which affirmed the IFS Rating at 'A-' (Strong).
Qoala, an omnichannel insurtech in Southeast Asia has acquired FairDee, a Thai Insurtech. The strategic acquisition of FairDee will further expand Qoala's reach in Southeast Asia - with the insurtech serving Indonesia, Singapore, Malaysia, Vietnam, and now Thailand.
Indonesia-based omnichannel InsurTech Qoala has made a strategic acquisition of FairDee, a Thai InsurTech, with the new partnership further expanding Qoala's reach in Southeast Asia.
New regulations in Thailand allowing insurance companies to leverage insurance capital bonds (ICB) as an alternative source of financing will boost capital adequacy, improve financial flexibility and offer companies the opportunity to lower their overall cost of capital.
New regulations in Thailand allowing insurers to leverage insurance capital bonds as an alternative source of financing will boost capital adequacy, improve financial flexibility and offer companies the opportunity to lower their overall cost of capital, says AM Best.
Thai Reinsurance Public Company Limited's (Thai Re) combined ratio improved to 99% by end-2020 from a peak of 114% in 2018, supported by fewer claims from legacy unprofitable businesses and better performance from non-conventional businesses, notes Fitch Ratings.