Industry premiums written rose by 3.5% despite pandemic

A report by ratings agency A.M. Best Co. Inc. showed that Thailand’s nonlife insurers reported a 3.5% year-on-year growth in direct premium written to 253 billion Thai baht ($8.3 billion) in 2020 despite the COVID-19 pandemic, Reinsurance News reported. The nonlife insurers’ aggregate underwriting profit increased by approximately six times on a year-on-year basis to THB12.5 billion, driven by premium growth and lower expenses and claims.

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