January insurance premium jumps 13.78%

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BANGKOK, 8 Mar 2014, The Thai Life Assurance Association (TLAA) has revealed that premium for life insurance policies in January was valued at 37.5 billion baht, a 13.78% growth year-on-year. 

According to the company, out of the 37.5 billion baht worth of premium, 11.4 billion baht was from new clients and the remaining 26.4 billion baht was from the existing life insurance policy owners, pointing out that January maintenance ratio was at the decent level of 89%.

The TLAA’s analysis indicates that clients have increasingly recognized the importance of having life insurance coverage; in the meantime, insurance companies have stepped up their efforts to attract clients by offering various competitive deals and packages, which have positive results in terms of both the customer and the sector’s growth.