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Thailand Insurance Industry Grows 13% in First Quarter

Posted on May 13, 2011 by Sergio Ulloa ()  | Tags: Thailand

In spite of recent political turmoil and the impact of the world financial crisis on foreign investment, Thailand's insurance industry continues to demonstrate strong growth indices. Insurance companies in Thailand have been busy expanding distribution channels over the past year, improving their underwriting standards and introducing new products to the market. A new report issued by Thailand's Office of Insurance Commission (OIC) (formerly known as the Department of Insurance) reveals that insurance business in the first quarter of 2011 grew by 13.52 percent on last years quarterly figures, with total direct premium in the country now worth 111.783 billion baht (US$ 3.7 billion).

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