Thailand Insurance Q4 2019
We remain upbeat about the prospects for Thailand’s insurance sector, both in relation to 2020 and for the forecastperiod as a whole. As is the case in other South East Asia countries, life insurance is becoming more popular as it is betterunderstood by households who can afford it. Innovation in terms of product development and distribution by the life insurancecompanies themselves is also helping. Accordingly, we see the softness of life premiums that has been reported for H119 as beingtemporary. Product and distribution innovation is also boosting the growth of premiums in the non-life segment. Recent reportssupport our view that health insurance is a major driver of growth for the segment as a whole. New users are boosting demand forpersonal accident insurance.
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