Jump to content

Ailing Thai insurance company confirms it is still operating


webfact

Recommended Posts

Thai-PBS-World-logo-28-2.png

 

A major insurance company struggling with massive losses over COVID-19 compensations clarified today (Thursday) that it is still operating as usual, amid widespread concern among its clients, but insisted that its recent decision to voluntarily cease trading and return its license is the best option under which all the insured will get their entitlements.

 

Southeast Life Insurance Company’s clarification letter was issued after Thailand’s Office of the Insurance Commission (OIC) said that the company is not yet legally dissolved, as it needs to obtain a permission first and meet various conditions.

 

The company said that its capital adequacy ratio is 170%, which is above the required limit, and it has sufficient liquidity to pay compensation and reimburse all the insured and their beneficiaries, its own staff and its business allies.

 

Full story: https://www.thaipbsworld.com/ailing-thai-insurance-company-confirms-it-is-still-operating/

 

Logo-top-.png
-- © Copyright Thai PBS 2022-01-28
 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Link to comment
Share on other sites

5 hours ago, webfact said:

The company said that its capital adequacy ratio is 170%, which is above the required limit, and it has sufficient liquidity to pay compensation and reimburse all the insured and their beneficiaries, its own staff and its business allies.

Unlike another one where the staff are still waiting for back-salaries and compensation packages.

Link to comment
Share on other sites

1 hour ago, ThaiFelix said:

Yep it really makes my day hearing an insurance company having financial problems.

 

Karma:  Sooner or later, somewhere, somehow, you have to pay.

Thing is that the higher employees and the owners will have zero liability and will still be living in their vast mansions and driving their Lambos. 

  • Like 1
Link to comment
Share on other sites

6 minutes ago, Pedrogaz said:

Thing is that the higher employees and the owners will have zero liability and will still be living in their vast mansions and driving their Lambos. 

Bit of misinformation mate, this is a company noted at the stock exchange so you could be an owner too. I doubt that unfair high dividends have been paid out. Now top management, who knows no idea they might indeed be rich. But the fact that this company noted on the stock exchange would mean there is considerable scrutiny of the figures by the stockholders. So if the rewards are unfair something could have been done. (unless those in higher management own so many shares they can block it all) But in general that is unlikely with companies that are traded in at the stock exchange.

 

But not impossible of course. 

Link to comment
Share on other sites

1 hour ago, bwanajohn said:

Unfortunately I paid them  my car insurance for the year last week.

On the phone yesterday they assured me there would be no problem .

Hmmm

 

 

:cheesy:  Yes Sir, you had insoro for one year, no plem, you hab cover of sure.............not making fun of your policy, I can just hear this being told to folks that call.  

 

     I wish you luck having gone thru an Insurance scam in Panama some 32years ago, but the local Insurance company was non-existant, did not have a license to underwrite the policy on behalf of the parent company.  Found out they scammed some eight hundred or so GI's stationed there.  Parent company didn't pay, neither did I, courts were backed up - cases was lost.  Far as I know, the truck is still down there somewhere.   Peace

  • Haha 1
Link to comment
Share on other sites

A family member has been trying for weeks to get her 100k Covid money from the insurance. The insurance stopped to answer emails and does not pick up the phone anymore.

 

I think there are already many insurance companies in extreme difficulties.

 

 

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...