Allianz says risk profile not dented by quake

Thailand's risk profile for natural disasters has changed following the recent earthquake, but the insurer remains composed among consumers and companies about adequate protection to keep insurance premiums affordable, says the Thai unit of German insurer Allianz.

- NAREEARAT WIRIYAPONG

The earthquake that rocked Bangkok on Friday was the most powerful to strike Myanmar since 1912.

Thailand, especially in the central region including Bangkok and the area south of the capital, has a very low seismic hazard exposure as it is not located near a major tectonically boundary.

“That means this event didn't change the risk profile of the Thai market from our perspective,” said Lars Heibutzki, chief executive of Allianz Ayudhya General Insurance (AAGI).

However, climate change is likely to accelerate risks in the future, particularly increasing risk exposure to floods and wind storms, said Mr Heibutzki.