TGH subsidiary ceases operation
Southeast Insurance caves under claims
Insurance giant Thai Group Holdings (TGH) says its subsidiary Southeast Insurance plans to cease operations because it cannot make payment claims for all the Covid-19 policies it issued.
Chotiphat Bijananda, chairman of TGH’s executive board, said the company decided to close down Southeast Insurance, its non-life insurance arm, to contain the financial damage from the recent surge in Covid cases and the value of claims.
TGH is…
