Ailing Thai insurance company confirms it is still operating

14 Sept 02:37 Key points summarised by AI

Southeast Insurance Company confirms it remains operational despite its decision to voluntarily cease trading and return its license due to substantial losses from COVID-19 compensations.
The company asserts a 170% capital adequacy ratio and sufficient liquidity to pay all entitlements, though its dissolution requires approval from Thailand's Office of the Insurance Commission (OIC).
Shareholders agreed to cease operations but rejected transferring the company's business to another insurer, citing unresolved financial problems stemming from 'Found, Paid, Done' COVID-19 policies.
This situation reflects a broader challenge in Thailand, as other insurers have also struggled with massive COVID-19 payouts, leading to closures and license revocations.

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.