Thai insurance giant says Southeast Insurance unable to cease operation yet, amid official’s warnings

[webfact]

 

By Panithan Onthaworn

 

Thai Group Holdings Plc (TGH), owned by tycoon Charoen Sirivadhanabhakdi, announced on Friday that its subsidiary Southeast Insurance has yet to end its non-life insurance business as certain conditions are not fulfilled.

 

“Southeast Insurance still has some pending conditions for the termination of the non-life insurance license required by the Office of the Insurance Commission (OIC),” Chotiphat Bijananda, TGH acting chief executive, said in a statement. 

 

This was prompted by Covid-19 insurance policyholders who do not wish to cancel their policies, and there is no non-life insurance company willing to accept such policies through transfer.

 

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Full story: https://www.thaienquirer.com/38722/thai-insurance-giant-says-southeast-insurance-unable-to-cease-operation-yet-amid-officials-warnings/

 

-- © Copyright Thai Enquirer 2022-03-18

 

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[lapamita]

43 minutes ago, webfact said:

This was prompted by Covid-19 insurance policyholders who do not wish to cancel their policies, and there is no non-life insurance company willing to accept such policies through transfer.

 their are enough companys who would take over this contracts , if they pay for the risk , a cash compansation.´for risk and take over.

the holding of Southern insurance could pay this ( if SI cant), still have enough equity.