13 Dec 2024 Services Outlook for Thai life insurance business 2025: Adjustments to declining interest rates and prevailing purchasing power needed (Current Issue No.3538 Full Ed.) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star Outlook for Thai life insurance business 2025: Adjustments to declining interest rates and prevailing purchasing power neededTotal life insurance premium grew by 2.3 percent YoY in 9M24, down from 3.6 percent in 2023, primarily due to a contraction in the premium amount of new insurance policies, particularly single-premium life insurance. This prompts insurance businesses to make adjustments amid the uneven domestic economic recovery which has hurt purchasing power of most consumers.The life insurance business in 2025 may face increased challenges from the anticipated downward trend in domestic interest rates and the implementation of the Thai Financial Reporting Standard (TFRS17), effective from the beginning of 2025. Additionally, the rising elderly population amid uncertain economic conditions is likely to impact the sales of new life insurance policies in multiple dimensions. However, renewal premiums are expected to sustain steady growth. Given this, total life insurance premium in 2025 is projected to grow within a range of 2.8-3.6 percent, which would be on par with the figures seen in 2023 and 2024. View full article Login / Register Or Enter the code from the poll Annotation This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow. Services Related Analysis View all 9 Mar 2018 Services Restaurant Business: Expected to Rise 4-5% in 2018 (Current Issue No. 2904) At present, more restaurateurs are setting up in department stores and other large retail facilities. The current expansion in new shopping malls a... Read more 0 KB 0 KB 28 Dec 2017 Services More Challenges Facing Retail Trade in 2018 Amid Rising Competition from Non-Retail Businesses (Current Issue No. 2891 Full Ed.) The phenomenon of swift expansion and continual uptrend in e-commerce is viewed by KResearch as a significant turning point in retail trade resulti... Read more 0 KB 0 KB 3 Nov 2017 Services Millenials and Medium-Income Earners Dictate Current Media Content (Current Issue No. 2877 Full Ed.) An online poll conducted by KResearch shows that a majority of Thai consumers believe that keeping abreast of news is an important task. Th... Read more 0 KB 0 KB 25 Sep 2017 Services “Creating a Customized Experience”: Key Strategy for Small Retailers (Current Issue No. 2868 Full Ed.) We at KResearch are of the view that competition in the online-shopping market here is heating up as Thai and international companies have ... Read more 0 KB 0 KB 25 Jul 2017 Services Income from International Patients Up 3-4% in 2017 (Current Issue No. 2859 Full Ed.) The number of patients from Middle Eastern countries visiting Thailand for medical treatments has declined steadily due chiefly to changes in their... Read more 0 KB 0 KB 23 Feb 2017 Services Private Hospitals Grow Steadily on International Clients(Current Issue No. 2827 Full Ed.) The outlook for private hospital business remains promising because it hasmaintained double-digit growth rates in recent years, thanks to growing n... Read more 0 KB 0 KB View all