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Dhipaya expects non-life insurance business to expand 1.5% if economy grows 3%
Nov 26. 2019
Somporn Suebthawilku
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Dhipaya Insurance expects the non-life insurance business to expand 1.5 per cent next year if the economy grows 3 per cent, managing director Somporn Suebthawilkul said.
The growth rate of non-life insurance has been twice as high as the economic growth rate. But in the last five years, the category’s growth rate has been only half the rate of economic growth.
However, the company is aiming for a premium growth rate twice as high as the growth rate of the total premium of the sector.
He added that competition in the segment next year would be much more intense than this year. However, the company will not cut prices to woo new clients.
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