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Thai General Insurance Association
34 Annual Report 2023
Loss Ratio (after deduction of reinsurance)
The loss ratio of the general insurance business in 2023 is 55.5%. The loss ratio of each type of insurance is ranked
from highest to lowest as follows:
1) Motor compulsory insurance is 74.8%, an increase from 68.8% the previous year
2) Motor voluntary insurance is 58.4%, a slight increase from 56.3% the previous year
3) Miscellaneous insurance is 48.4%, a decrease from 180.2% the previous year due to health insurance that adjusted down
from 523.3% to 62.3%
4) Marine hull insurance is 43.2%, a decrease from 60.0% the previous year
5) Marine cargo insurance is 30.9%, a decrease from 34.7% the previous year
6) Fire insurance is 23.1%, a decrease from 25.3% the previous year
Source: Office of Insurance Commission (OIC)
