In remarks to the 30th Insurance Management Development Program, Thailand Office of Insurance Commission Secretary-General Chuchat Pramoolpol outlined a shift from point-in-time monitoring toward forward-looking, risk-based supervision that identifies vulnerabilities before they escalate. The approach combines firm, group and systemwide assessments and reinforces the commission’s fiscal 2027 priority of proactive supervision, as well as the Fifth Insurance Development Plan’s aim for insurance to serve as a national risk buffer. Insurers are expected to use enterprise risk management and own risk and solvency assessment as business management tools rather than compliance reports, linking risk appetite to strategy, financial condition, capital adequacy and decisions throughout the organization. The commission is integrating this information with risk heatmaps and other supervisory data and developing composite risk ratings to tailor supervisory intensity. It is also refining top-down and firm-level stress tests to assess solvency, liquidity and the feasibility of management actions under severe scenarios, while group-wide supervision will address ownership, investments, intragroup transactions and risk transmission through quantitative and qualitative oversight and enhanced reporting and disclosure.
2026-09-07Thailand Office of Insurance Commission
Thailand Office of Insurance Commission outlines forward-looking, risk-based supervisory framework for insurers
Thailand Office of Insurance Commission Secretary-General Chuchat Pramoolpol outlined a shift toward forward-looking, risk-based supervision across insurers, business groups and the wider system. The framework connects enterprise risk assessments, tailored stress testing and group-wide supervision, with composite risk ratings under development to target supervisory action.