Thai Insurance Brokerage

[CymruAmByth]

Afternoon All,

Any of you out there had any experience of setting up a Thai Insurance Brokerage?

Dealing with a specific motor vehicle policy, my partners and I would like to investigate this further but have not been totally convinced the answers we are getting from the Thai Insurance Department (Government office) are correct.

We are getting the usual different answer every time we call.

I understand the basics (25% foreign ownership etc.) and don't wish to be referred to Sunbelt, thanks. Just wondered if anyone out there has ever done this successfully or knows of anyone/anywhere we can go for definitive answers.

Many thanks in anticipation.

[WilliamJarvis]

^if you are American, insurance could be a excluded industry - hence AIA. If not, the 25% rule would apply, unless you purchase an insurance company that is "distressed".

But my opinion is you are wasting your time. Non-life insurance in Thailand means "I pay you today" and "you pay me twice as much tomorrow".

After all, when was the last time you saw a "no claims bonus" here?

[CymruAmByth]

^if you are American, insurance could be a excluded industry - hence AIA. If not, the 25% rule would apply, unless you purchase an insurance company that is "distressed".

But my opinion is you are wasting your time. Non-life insurance in Thailand means "I pay you today" and "you pay me twice as much tomorrow".

After all, when was the last time you saw a "no claims bonus" here?

Thanks for the positivity of your post.