Thailand Insurance Core Principles

International Monetary Fund ; World Bank Group

World Bank, Washington, DC

关键词: INSURANCE;    FINANCIAL SUPERVISION;    FINANCIAL INSTITUTIONS;    MARKET COMPOSITION;    INSURANCE INDUSTRY;   

RP-ID  :  142664

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The Thai insurance sector is arelatively small but growing part of the country’s financialservices industry. Insurance sector assets have grown from10 percent of gross domestic product (GDP) in 2006 to over22 percent of GDP in 2016, constituting 9 percent of totalfinancial industry assets. Similarly, between 2008 and 2017,gross premiums written have grown at an average annual rateof approximately 16.9 percent, substantially above nominalGDP growth of 9.9 percent during the same period. As aresult, the insurance penetration ratio (the ratio ofpremiums written to GDP) has gradually increased from 3.63percent in 2008 to 5.39 percent in 2017. This paper providesan assessment of significant regulatory and supervisorypractices in the insurance sector of Thailand. Theassessment was conducted by Charles Michael Grist, FinancialSector Consultant, the World Bank Group, and A. ThomasFinnell, Financial Sector Consultant to the InternationalMonetary Fund, from February 6 until February 22, 2019. Thelast review of the Thai insurance sector was conducted aspart of an April 2008 Financial Sector Assessment ProgramReview (FSAP), but this review did not include a detailedassessment against the ICPs issued by the InternationalAssociation of Insurance Supervisors (IAIS).