COVID-19 causes closure of loss-ridden major insurance company

13 Sept 15:15 Key points summarised by AI

Thai Group Holdings (TGH) announced the closure of its subsidiary, Southeast Insurance, due to massive losses incurred from COVID-19 "Found, Paid, Done" insurance claims.
The decision to cease operations and return its license was made after substantial capital injections, including 9.9 billion baht from its major shareholder, failed to stabilize the company's financial standing.
TGH assures all 10 million-plus customers, including 1.85 million COVID-19 policyholders, will receive refunds, and all contractors, agents, and 1,396 staff will be fully compensated.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.