Insurance news in Thailand predicts record growth for the industry in 2012

Thailand LIfe Insurance news

Thai insurers are forecasting an increase of 20 percent this year. The insurance news from Thailand is now expecting that the industry in the country will be seeing record growth of around 20 percent in 2012, which has been primarily driven by the increase of non-life coverage sector following the tremendous flooding in 2011. Sales of new cars have also reached record levels due to government incentives. First time car buyers have given a notable boost to the demand for auto coverage, bringing it to never before seen levels. Insurance…

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Thailand floods could cost the global insurance industry $10 billion

Devastating floods in Thailand may have a global impact, according to insurers. Thailand is a critical point in the global supply chain, says Gary Lynch, head of supply chain risk at Marsh Risk Consulting. Widespread flooding has closed more than 14,000 businesses, including distribution centers for Sony, Canon and Nissan. The disruption in the supply chain could have far reaching consequences in the U.S., the UK and throughout Europe. Lloyd’s of London is now petitioning Thailand insurance and risk firms to assess the risk exposure they see in the nation.…

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