Tris upbeat on life sector expanding this year

Thailand's life insurance sector is expected to expand steadily this year, supported by rising health awareness and growing demand for critical illness coverage, while non-life insurers may see margins tighten amid rising claims from natural disasters, says credit rating agency Tris.

- NUNTAWUN POLKUAMDEE

Tris Rating projects continued growth in life insurance premiums this year, underpinned by increased interest in health protection and retirement plans, while healthcare costs climb.

Investment-linked products, particularly unit-linked policies, are gaining traction, especially among younger consumers who seek integrated benefits across protection and investment.

Meanwhile, the non-life segment is likely to face a rising loss ratio due to elevated risks from earthquakes and other natural hazards, according to Tris. Recent seismic activity has heightened public awareness, spurring interest in fire insurance and industry all risk policies. These policies are also expected to benefit from real estate stimulus measures.