The Thai insurance regulator, the Office of the Insurance Commission (OIC) has instructed KWI Insurance to accelerate the increase of its paid-up capital to not less than THB30m by the end of July 2025.
The regulator’s order 28/2025 instructing KWI Insurance said that the order of "temporarily suspending new insurance" will be reiterated as before to protect the interests of the insured people.
The OIC continues to strictly control KWI Insurance Public Company and in accordance with the order 12/2025 dated 22 May 2025, KWI Insurance Public Company has been ordered to revise its financial position and operations, including temporarily suspending new insurance business.
Currently, the company has made progress in its operations, such as negotiating and conciliating claims. Also, the plan to increase the paid-up capital of not less than THB30m. In the registrar’s opinion there is a possibility that KWI Insurance Public Company will be able to solve the problem.
In view of the above the registrar's order no 28/2025 has been issued as below:
1. KWI Insurance Public Company (The Company) must urgently increase its paid-up capital of not less than THB30m by July 2025 as planned and must continue to increase its capital to ensure sufficient liquidity until the completion of the business purchase negotiations.
2. KWI Insurance Public Company is still under the order to temporarily stop reinsurance according to the registrar's order no 12/2025 until there is a change in the order to protect the interests of the insured.
"OIC Office confirms that the registrar's order this time will not affect the coverage and reimbursement of money or claims of the insured according to the conditions specified in the insurance policy. If the insured has doubts about the benefits under the insurance policy. For inquiries or complaints, they may please contact the OIC hotline. 1186 or through the www.oic.or.th website, which is available for information."