TAWATCHAI KEMGUMNERDLife assurance businesses reported 5% growth in total premiums for the first half, driven mainly by bancassurance and insurance agents, says the Thai Life Assurance Association (TLAA). Total premiums for the first six months were valued at 312.53 billion baht, comprising new life insurance premiums worth 89.97 billion and renewal premiums worth 222.56 billion, with a persistency rate of 84%. For new life insurance premiums, the total consisted of first-year premiums worth 46.35 billion baht and single premiums valued at 43.62 billion. For the second half, life assurance businesses are expected to grow based on Thailand's economic growth recovery, low number of insurance policies per population at 40%, and government support, Mrs Nusara said. "The Thai drone-insurance market is estimated at over 1 billion baht, and will definitely expand further."

Source: Bangkok Post July 31, 2018 23:26 UTC