Report

Thailand Insurance Core Principles

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collection.link.72
https://openknowledge.worldbank.org/handle/10986/2180
collection.name.72
Financial Sector Assessment Program
dc.contributor.author
International Monetary Fund
dc.contributor.author
World Bank Group
dc.date.accessioned
2019-10-23T20:13:36Z
dc.date.available
2019-10-23T20:13:36Z
dc.date.issued
2019-06
dc.date.lastModified
2021-05-25T09:28:59Z
dc.description.abstract
The Thai insurance sector is a relatively small but growing part of the country’s financial services industry. Insurance sector assets have grown from 10 percent of gross domestic product (GDP) in 2006 to over 22 percent of GDP in 2016, constituting 9 percent of total financial industry assets. Similarly, between 2008 and 2017, gross premiums written have grown at an average annual rate of approximately 16.9 percent, substantially above nominal GDP growth of 9.9 percent during the same period. As a result, the insurance penetration ratio (the ratio of premiums written to GDP) has gradually increased from 3.63 percent in 2008 to 5.39 percent in 2017. This paper provides an assessment of significant regulatory and supervisory practices in the insurance sector of Thailand. The assessment was conducted by Charles Michael Grist, Financial Sector Consultant, the World Bank Group, and A. Thomas Finnell, Financial Sector Consultant to the International Monetary Fund, from February 6 until February 22, 2019. The last review of the Thai insurance sector was conducted as part of an April 2008 Financial Sector Assessment Program Review (FSAP), but this review did not include a detailed assessment against the ICPs issued by the International Association of Insurance Supervisors (IAIS).
en
dc.identifier
http://documents.worldbank.org/curated/en/469421571259145676/Thailand-Detailed-Assessment-of-Observance-Insurance-Core-Principles
dc.identifier.uri
http://hdl.handle.net/10986/32611
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
INSURANCE
dc.subject
FINANCIAL SUPERVISION
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
MARKET COMPOSITION
dc.subject
INSURANCE INDUSTRY
dc.subject
SOLVENCY
dc.title
Thailand Insurance Core Principles
en
dc.type
Report
en
okr.crossref.title
Thailand Insurance Core Principles
okr.date.disclosure
2019-10-23
okr.doctype
Economic & Sector Work :: Financial Sector Assessment Program
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/469421571259145676/Thailand-Detailed-Assessment-of-Observance-Insurance-Core-Principles
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/32611
okr.identifier.externaldocumentum
090224b0871f2560_1_0
okr.identifier.internaldocumentum
31483080
okr.identifier.report
142664
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/469421571259145676/pdf/Thailand-Detailed-Assessment-of-Observance-Insurance-Core-Principles.pdf
en
okr.region.administrative
East Asia and Pacific
okr.region.country
Thailand
okr.topic
Finance and Financial Sector Development :: Financial Regulation & Supervision
okr.topic
Finance and Financial Sector Development :: Insurance & Risk Mitigation
okr.unit
Finance, Competitiveness and Innovation Global Practice

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