Thai Life agent has licence cancelled

The Office of Insurance Commission (OIC) has revoked the licence of a life insurance agent of Thai Life Insurance Plc, after uncovering a large-scale premium fraud scheme that caused losses estimated in the hundreds of millions of baht.

- NUNTAWUN POLKUAMDEE

The regulator also ruled that Thai Life Insurance must take responsibility for damages caused by its appointed agent and introduce new rules requiring all premium payments to be made directly to insurance companies, effectively banning premium transfers via agents.

The OIC's anti-fraud unit found that Junkate Tubbon, a life insurance agent at Thai Life Insurance, misled policyholders by collecting advance premium payments in exchange for a 15% discount or gold incentives. At least 12 victims transferred premiums directly to her, but the funds were never remitted to the company.

The OIC summoned Ms Junkate to respond to the allegations, but she failed to appear or submit evidence, violating Section 80 of the Life Insurance Act.

Citing a clear intent to defraud and substantial harm to policyholders and beneficiaries, the registrar officially revoked her licence on Dec 10, 2025.