This is expected to occur this year even despite the indication of a slowing economy. Though predictions are suggesting that the economy in Thailand will slow during the second half of the year, the Thai Life Assurance Association still believes that the life insurance market will continue its growth by about 17 percent in 2013. Insurers have been designing new products that are better suited to customer demand, allowing them to continue selling. According to the president of the association, Sara Lamsam, “The market growth follows the introduction by all…
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Fitch Ratings suggests Thai life insurance sector is stable
Fitch Ratings report highlights stability of Thailand’s life insurance industry despite natural disasters A new report from Fitch Ratings, a global rating agency, suggests that the Thailand life insurance sector will see healthy premium growth well into 2013. This growth is being attributed to growing population affluence and increase awareness and protection in the wake of recent natural disasters. Thailand has been battered by a wide range of catastrophe’s the most costly of which was a recent flood that caused severe disruptions in global supply chain for numerous industries. These…
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