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Table Showing Claim Payments in General Insurance Industry (Jan-Nov 2010)
(Unit: Million Baht)
Loss Ratio Loss Ratio
Direct Premium
Types of Insurance Claim Payments 2010 2009
Income
11 month (%) 11 month (%)
Fire 7,249.39 955.15 19.54 19.39
Marine and Transport 3,947.02 1,010.57 27.56 27.40
Hull 358.04 180.15 34.72 70.42
Cargo 3,588.98 830.42 27.24 25.28
Motor 66,622.41 35,822.55 58.23 56.85
Compulsory 10,110.01 4,300.80 49.41 40.42
Voluntary 56,512.39 31,521.75 59.96 60.23
Miscellaneous 33,771.00 12,938.91 53.07 46.49
Personal Accident 11,346.79 3,717.58 44.28 42.25
Health insurance 3,843.76 1,989.43 57.48 62.86
Other 18,580.45 7,231.91 61.35 43.00
Total 111,589.82 50,167.64 54.04 51.84
Source: The Office of Insurance Commission
In 2010, competition in general insurance remained strong while many new channels of distribution have been
introduced such as direct marketing, tele-marketing, convenient store or pay-point service. All general insurance
companies stepped up their advertisement and public relations efforts and develop new products for all groups of
customers. As a result of these, the premium income of all products increased at a satisfactorily level while the
number of claims was not so high, despite a severe flooding situation.
It is expected that in the year 2011, the overall Thai economy will expand by about 4.0–5.0%. However,
although the economy is improving better than projected, there are still several issues that require close attention
from the government such as the stability of world economic growth. Although, there are clear indications that the US
economy is continuing to recover but its speed is still not moving fast enough to significantly improve the
unemployment problem. Moreover, the pressure of inflation may cause the Bank of Thailand to adjust the policy
interest rate. The instability of political conditions is also an important factor, effecting the effectiveness of the
government in handling economic policies and to gain confidence of private sector.
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