Thailand's insurance market is on the cusp of consolidation

Thailand's insurance market is on the cusp of consolidation

Photo: Vlad Deep / Unsplash.com

Thailand’s insurance market is set to witness major consolidation given the recent bankruptcies of COVID-hit companies in the sector, entry of foreign players, and new capital requirements, say experts DealStreetAsia spoke to.

At least five Thai insurance companies, that sold low-cost COVID-19 policies, have gone bankrupt recently, raising fears of a domino effect on the country’s non-life insurance sector, Nikkei Asia reported in June.

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