The National Financial Regulatory Administration aims to complete central level reforms and identify risks at financial institutions, with local level reforms to follow in 2024.
Insurers are taking proactive steps to address reinsurance costs and the impact of NatCats, while post-covid conditions should positively impact claims and underwriting profitability.
The government's efforts to promote motor insurance awareness and ongoing infrastructure projects present both opportunities and challenges for insurers operating in the dynamic Thai market.
The Monetary Authority of Singapore fined Swiss Life and three banks for inadequate anti-money laundering and counter-terrorist financing controls, but found no evidence of willful misconduct.
