TGH executive chairman Chotiphat Peechanon informed the Stock Exchange of Thailand on Wednesday about the decision made at a board meeting on Tuesday.

The company will cease operations after Thai Charoen Corporation Group pays Covid-19 compensation totalling 9.9 billion baht. The company has net assets of 1.8 billion baht with a capital adequacy ratio of 170 per cent.

The board of directors agreed to cease operations of Southeast Insurance and return the licence as the directors refused to transfer the company to Indara Insurance Pcl.

Related News

<a href="https://www.nationthailand.com/in-focus/40010999">Thai insurance firms to be allowed to cover Covid-19 treatment for tourists with mild symptoms</a>

<a href="https://www.nationthailand.com/in-focus/40009488">WHO chief lauds Thailand for health insurance, primary healthcare system</a>

<a href="https://www.nationthailand.com/in-focus/40007747">Health insurance coverage adjusted to attract more long-stay, high-spending elderly expats</a>

Southeast Insurance winds up operations

Southeast Insurance, a subsidiary of Thai Group Holdings (TGH), will cease operations after disagreement in the board over its future direction.