The Thai Life Assurance Association projected the insurance industry would register 0-2% growth in gross written premiums this year, while first-year premiums are forecast to expand at a rate of 2-5%.
The local insurance industry posted continuous growth over the past decade, reflecting increasing consumer demand and awareness of the importance and benefits of insurance in protecting their well-being.
SINGLE-DIGIT GROWTH
According to the Thai Life Assurance Association (TLAA), the industry is expected to post 0-2% growth in gross written premiums (GWP) this year, while first-year premiums are forecast to expand at a rate of 2-5%.
Nikhil Advani, chief executive of AIA Thailand, described 2023 as a “transition year” for the…
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