Thailand Office of Insurance Commission orders KWI Insurance to raise at least THB 30 million in paid-up capital and maintain a temporary stop on non-life underwriting

The Thailand Office of Insurance Commission issued a registrar order requiring KWI Insurance Public Company Limited to take additional steps to rectify its financial position and operations, while continuing to temporarily stop underwriting non-life insurance under the existing supervisory order. The order follows the company’s progress report under an earlier directive, including concluding a settlement memorandum for litigated claim liabilities (with proceedings ongoing at the appeal stage) and ongoing negotiations to sell the business alongside plans to increase paid-up capital. The registrar now requires the company to register an increase in paid-up capital of at least THB 30 million within July 2025 and to continue raising capital to maintain sufficient liquidity until the business sale negotiations are completed; the temporary stop on underwriting non-life insurance remains in place until the registrar issues an amended order. KWI Insurance may appeal the order to the Office of Insurance Commission board within 15 days of becoming aware of it. The registrar also indicated that failure to meet the conditions within the specified timeframe, further legal breaches, or a risk of harm to policyholders or the public could trigger further action in line with the board resolution referenced in the order.