Thailand's insurance industry is projected to exceed THB1tn ($30.7bn) in total premiums in 2026 for the first time, driven by steady growth across life, health, and critical illness (CI) lines despite a challenging economic backdrop.
According to the Thai Life Assurance Association (TLAA), life insurance premiums are expected to rise 2.5%–3.5% to around THB700bn in 2026, up from THB677bn in 2025. When combined with the Thai General Insurance Association’s forecast of THB300bn in non-life premiums, the industry is set to reach a historic milestone.
Growth continues to be led by health and savings-oriented products as consumers prioritise financial protection amid rising healthcare costs and medical inflation of 8%–10% annually.
Health and CI coverage, valued at about THB120bn, is expected to grow more than 10% in 2026. Within life insurance, ordinary life and rider health products remain dominant, while unit-linked and annuity products are recording strong double-digit growth, reflecting demand for both protection and wealth accumulation.
Financial performance has also strengthened, with the life insurance sector projected to post a net profit of THB74.89bn in 2025, supported by underwriting gains and higher investment income. Industry assets are forecast to reach THB4.49tn, with government bonds making up most portfolios.