The Thai regulator, Office of the Insurance Commission (OIC) recently organised a project "Strengthening the Insurance Partner Network" in Phuket Province in collaboration with the Thai Life Insurance Association (TLIA).
The project was organised to create strategic cooperation between government agencies and the private sector and also to exchange perspectives and promote knowledge on sustainable regional risk management.
A media release by the TLIA said the TLIA Assistant Director Mr Surasak Srisuk spoke on "Life Insurance and Risk Management and Financial Security" in the project programme held from 18 August to 20 August 2026. He focussed on building understanding among executives and representatives from government and private agencies participating in the project.
In the context of the VUCA World era, which faces uncertainty all around with economic fluctuations, cyber threats, AI technology, and climate change, along with the challenges of Thailand entering a super-aged society.
This will also entail high medical inflation of 10–15% per year on average. Household debt in excess of 90% of GDP, and long-term health costs from chronic non-communicable diseases are the main causes of death in Thailand.
His main focus was on the following points:
Principles and Roles of Life Insurance: Use the principles of risk averaging and mass gathering to transfer financial risks from unforeseen events. Protect Savings and replace lost revenue.
This is different from conventional savings because it focuses on guaranteeing benefits and long-term future protection.
The stability of the Thai life insurance industry: This business has been growing steadily. In 2025, the total insurance premiums received were a record high of THB676,505m ($20,406m) and total investment assets worth more than THB4.473tn. (Focus on investing in debt securities about 85% for stability) The average capital adequacy ratio (CAR) is above 300%, which exceeds the OIC's minimum threshold of 140%.
Responding to Coverage and Future Outlook: There is a wide range of product groupings. For example, accumulating wealth (the highest proportion of 41.77%), health, life protection, pensions, etc. and investment products along with the use of new health standard contracts (New Health Standard) Application of Big Data, AI and Implementation of ESG Concepts in Investment.
He said the Thai Life Insurance Association is ready to cooperate and support the mission of the OIC and an ongoing network of partners, to promote knowledge and understanding of life insurance and risk management comprehensively. This will lead to the creation of stability and sustainability for the Thai economy and social system in the long term.