Thailand’s general insurance premiums climb 4.1%

July 18 2018 by InsuranceAsia News Staff

A report released by the Thai General Insurance Association (TGIA) has shown that general insurance gross written premiums in Thailand grew 4.1% in the first three months of 2018.

In addition to the health of the global economy, the growth was partly attributed to government policy encouraging investment and launching large-scale infrastructure projects.

Thailand’s overall economy grew 4.8% in the first quarter with higher exports supporting manufacturing while tourism also helped. The military Thai government has been trying to encourage foreign investment through low interest rates and cutting red tape.

The TGIA expects overall general insurance annual premium growth of between 3.5% and 4.5%.

MORE FROM: Thailand