Thailand’s insurance business regulator has indicated that approval has not been granted for Southeast Asia Insurance to cease operations and that all existing insurance policies are still valid. The statement was in response to Thai Group Holdings Plc having notified the Stock Exchange of Thailand about discontinuing operations at Southeast Asia Insurance Plc.
The Office of Insurance Commission (OIC) explained that Southeast Asia Insurance filed for the termination of its business with the OIC, but approval has yet to be granted. The office has established a working committee to scrutinize relevant details, with the aim of preserving the benefits of insurance policyholders and other stakeholders as well as…
