The Thai General Insurance Association (TGIA) has foreseen an unprecedented surge in the insurance industry, with premiums expected to skyrocket to 303 billion baht in 2024.
The TGIA president, Somporn Suebthawilkul, revealed the industry’s trajectory, unveiling that premiums for the initial nine months of this year already hit a whopping 210 billion baht, marking a staggering 5.2% rise from the same period last year. The projections for the full year anticipate a robust 4 to 5% growth, amassing a colossal 285 billion baht in premiums.
But what’s the secret sauce behind this financial boom? Somporn predicts a dual force: the soaring popularity of electric vehicles (EVs) and the flourishing health insurance sector. With EV sales predicted to hit a monumental 100,000 units this year, it’s clear that the future is electric – and so is the…
