Thai general insurance sector to see more M&As

Chai Sophonpanich of Bangkok Insurance Public Co. Ltd., said that with several new regulations hitting the books, it will become more difficult for non-life insurers to grow organically and to invest in people and technology, and this will lead to more mergers and acquisitions, Asia Insurance News reported. Mr. Chai, who is serving as the firm’s chairman, said that the number of non-life insurers in the country is likely to be reduced to about 25 to 30 from the current number of about 50.