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Annual Report 202337
Thai General Insurance Association Thai General Insurance Association
36 Annual Report 2023
Profit ratio from underwriting Other Finance Ratio
In 2023, the underwriting profit ratio was 7.4%, an increase from -25.0% in the previous year due to the decrease In 2023, return on equity (ROE) increased from - 21.8% in 2022 to 12.5%, return on assets (ROA) increased from
in the claims ratio from 88.4% to 55.5%, while the expense ratio slightly decreased to 27.9% and the cost ratio of net - 6.4% in 2022 to 3.7%, and return on revenue (ROR) increased from - 14.1% in 2022 to 8.1%, due to change in insurance
wages and commissions increased from 8.7% to 9.2%. profits that have returned to positive again after losing capital since 2021.
Source: Office of Insurance Commission (OIC)
Net investment income and investment yield
Net investment income in 2023 was 7,396 million baht, a 26.5% increase from 2022. As for the investment yield, it
has a trend to to decrease gradually, but in 2023, the investment yield was adjusted to increase to 2.2%, an increase
from the previous year. The policy interest rate at the year-end of 2023 is 2.5%.
Source: Office of Insurance Commission (OIC)
Source: Office of Insurance Commission (OIC) and the Bank of Thailand
