In 2011 as unprecedented damages from floods hit the non-life segment, Thailand’s insurance industry caught the world’s attention. But while loss ratios for property surged, the industry’s claim settlements continued to function efficiently and provided a crucial source of financing for post-crisis reconstruction.
The unsuccessful attempted takeover of American International Assurance (AIA) by the UK’s Prudential Insurance (Pru) in early 2010 focused investors’ attention on the important growth prospects in Asia’s life insurance industry. While this would have translated into a minor player overtaking a major one, unlikely given Pru’s negligible presence, it...
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