TTR: Life insurance premiums too high
Costs are holding back growth of the industry
- Published: 24/09/2011 at 03:20 AM
- Newspaper section: Business
Life insurance premiums in Thailand are too high and the industry regulator should negotiate with insurers to reduce them, say officials of the Thailand Trade Representative (TTR).
High premiums may be one reason that the number of life insurance policyholders in Thailand is still small relative to some countries, acknowledged Chantra Purnariksha, the secretary-general of the Office of the Insurance Commission (OIC).
However, TTR member Pruttchai Viriyaroj said he also believed that high premiums reflected low competition in an industry that has only 25 life insurers, dominated by a handful of large companies.
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About the author
- Writer: Chatrudee Theparat
- Position: Business Reporter
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