Thailand’s Ministry of Finance Relaxes Foreign Ownership Restrictions of Insurance Companies

 

 

Thailand’s Ministry of Finance is now allowing licensed insurance companies selling life and non-life insurance to have foreigners or foreign companies to control more than 49% up to 100% of shares and comprise more than half of the company’s board of directors, pending approval from the Ministry of Finance.

 

Allowing foreign owned or foreign controlled insurance companies opens the doors for IPMI and other global insurance products to grow in the country. The ruling was implemented officially starting January 18th, 2017.

 

Read more about it in the official Thai Government Gazette announcement here and here.

 

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