Best Reports Thailand’s Non-Life Sector Moving to New Regulatory Era after Floods

A new report from A.M. Best says that “regulatory reform and the 2011 floods continue to generate pressure for Thailand’s non-life insurance industry as it contends with uncertain loss development, stricter capital requirements and a stagnant investment market.”

Best added that nonetheless the “industry sees the need for a stronger structure that will enhance its competitiveness within the upcoming Association of Southeast Asian Nations (ASEAN) free-trade agree­ment.

“Thailand is positioning itself for a larger role in the region, given its proximity to the opening of Indochina markets in Myanmar, Laos and Cambodia.”

Source: A.M. Best