Thailand’s non-life insurance industry to decline in 2020

Bangkok, Thailand. Credit: iStock/tawanlubfah

Thailand’s non-life insurance industry is set to contract by 5.6% in 2020 due to the severe impact of Covid-19 on Thailand’s economy, according to GlobalData. Thailand’s non-life insurance market is forecast to grow at a compound annual growth rate (CAGR) of 4.1% during 2020-2024. GlobalData said Thailand’s non-life insurance industry grew by 4.6% in 2019 (with THB207bn in gross written…

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