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Thailand Insurance Industry - Governance, Risk and Compliance

Publisher GlobalData
Published Feb 09, 2024
Length 163 Pages
SKU # GBDT18815785

Description

Thailand Insurance Industry - Governance, Risk and Compliance


Summary

GlobalData’s ‘Thailand Insurance Industry - Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Thailand.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Thailand, including -
  • An overview of the insurance regulatory framework in Thailand.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.
  • Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.
Key Highlights
  • The Thai insurance industry is regulated by the OIC.
  • The foreign direct investment (FDI) regime of Thailand allows up to 49% foreign ownership in the country with permission from the OIC, which can be increased over 49% with the permission from the Ministry of Finance.
  • Composite insurance is not permitted in Thailand.
  • Motor third-party liability insurance and workmen’s compensation insurance are compulsory in Thailand.
  • Non-admitted insurance is not permitted in the Thai insurance industry.
Scope
  • The report covers details of the insurance regulatory framework in Thailand.
  • The report contains details of the rules and regulations governing insurance products and insurance entities.
  • The report lists and analyzes key trends and developments pertaining to the country's insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and insurance companies.
Reasons to Buy
  • Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
  • Gain insights into the insurance regulatory framework in Thailand.
  • Track the latest regulatory changes, and expected changes impacting the Thailand insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.

Table of Contents

163 Pages
THAILAND
Legislation Overview
Supervision and Control
Legislation
Compulsory Insurance
Non-Admitted Insurance Regulations
Company Registration and Operation
License
Foreign Direct Investment / Ownership
Minimum Capital Requirements
Solvency Margins
Reserve Requirements
Statutory Return Requirements
Fee Structure
Taxation
Tax on Insurance Premium
Corporate Income Tax
Corporate Capital Gains Tax
Value Added Tax
Legal System
Policy Practice
About GlobalData
Contact Us
List of Tables
Table 1: Thailand – Premium Rates for Long-term Motor Vehicle Accident Insurance
Table 2: Thailand – Stamp Duty on Insurance Policies - Energy - Oil Rig
Table 3: Thailand – Stamp Duty on Insurance Policies - Energy - Operational Energy
Table 4: Thailand – Stamp Duty on Insurance Policies - Clinical Trials
Table 5: Thailand – Stamp Duty on Insurance Policies - Transit
Table 6: Thailand – Stamp Duty on Insurance Policies - Aviation
Table 7: Thailand – Stamp Duty on Insurance Policies - Marine
Table 8: Thailand – Stamp Duty on Insurance Policies - Professional Risks
Table 9: Thailand – Stamp Duty on Insurance Policies - Employers' Liability/workers compensation
Table 10: Thailand – Stamp Duty on Insurance Policies - Liability
Table 11: Thailand – Stamp Duty on Insurance Policies - Motor
Table 12: Thailand – Stamp Duty on Insurance Policies - Healthcare
Table 13: Thailand – Stamp Duty on Insurance Policies - Engineering
Table 14: Thailand – Stamp Duty on Insurance Policies - Personal Accident
Table 15: Thailand – Stamp Duty on Insurance Policies - Business Interruption
Table 16: Thailand – Stamp Duty on Insurance Policies - Property
Table 17: Thailand – Stamp Duty on Insurance Policies - Group Life
Table 18: Thailand – Stamp Duty on Insurance Policies - Individual Life
Table 19: Thailand – Stamp Duty on Insurance Policies - Group Life
Table 20: Thailand – Stamp Duty on Insurance Policies - Individual Life
Table 21: Thailand – Stamp Duty on Insurance Policies (Energy - Oil Rig)
Table 22: Thailand – Stamp Duty on Insurance Policies(Energy - Operational Energy)
Table 23: Thailand – Stamp Duty on Insurance Policies(Clinical Trials)
Table 24: Thailand – Stamp Duty on Insurance Policies(Transit)
Table 25: Thailand – Stamp Duty on Insurance Policies (Aviation)
Table 26: Thailand – Stamp Duty on Insurance Policies(Marine)
Table 27: Thailand – Stamp Duty on Insurance Policies (Professional Risks)
Table 28: Thailand – Stamp Duty on Insurance Policies(Employers' Liability/workers compensation)
Table 29: Thailand – Stamp Duty on Insurance Policies(Liability)
Table 30: Thailand – Stamp Duty on Insurance Policies(Motor)
Table 31: Thailand – Stamp Duty on Insurance Policies(Healthcare)
Table 32: Thailand – Stamp Duty on Insurance Policies(Engineering)
Table 33: Thailand – Stamp Duty on Insurance Policies(Personal Accident)
Table 34: Thailand – Stamp Duty on Insurance Policies(Business Interruption)
Table 35: Thailand – Stamp Duty on Insurance Policies(Property)
Table 36: Thailand – Corporate Tax Rates for the Financial Year 2024

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