Monday, March 30, 2020

State agency to educate insurance entrepreneurs on investments

Feb 16. 2020
Suthipol Taweechaikarn
Suthipol Taweechaikarn
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By The Nation

The Office of Insurance Commission (OIC) is planning to educate insurance business entrepreneurs about international investments such as private equity investment after new investment criteria were publicised, the office’s secretary-general, Suthipol Taweechaikarn, said.

On March 12, the office will hold a meeting with the private sector at the OIC meeting room with the purpose of exchanging ideas and presenting guidelines for the development of investments by insurance businesses.

The OIC is also preparing to specify the qualifications of the businesses to ensure effective investments and manage the risks properly.

The OIC has updated the criteria for investments after making it effective from January 29, enabling large insurance companies to plan investment portfolios and expand business assets such as equity instruments in businesses established to operate hospitals, businesses related to the care of the elderly and long-term care and technology business for insurance.

The new approach might increase revenue, help cope with low rate insurance and lower stress of business caused by the baht's appreciation.

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