The Thailand Office of Insurance Commission published a readout of a courtesy visit by Japan's Financial Services Agency Commissioner Yutaka Ito and Japanese embassy representatives, saying the two sides reaffirmed continued cooperation and knowledge exchange on insurance supervision. The talks focused on natural disaster preparedness and on the role of life and health insurance in addressing declining birth rates, an ageing society and rising medical costs. On catastrophe risk, the OIC outlined its study of a national catastrophe risk management mechanism, enhancement of the Risk-Based Capital framework, and the feasibility of tools such as parametric insurance and catastrophe bonds, alongside product development for catastrophe and climate-related risks. The discussion also covered promotion of life and health insurance suited to an ageing population, management of rising healthcare costs, use of technology to improve health insurance system efficiency, and development of products for people across age groups.
Thailand Office of Insurance Commission2026-05-21
Thailand Office of Insurance Commission and Japan's Financial Services Agency reaffirm insurance supervision cooperation on disaster risk and ageing society challenges
The Thailand Office of Insurance Commission reported a courtesy visit by Japan’s Financial Services Agency, where both authorities reaffirmed cooperation and knowledge exchange on insurance supervision. Discussions covered natural disaster preparedness, including a national catastrophe risk management mechanism, enhancements to the Risk-Based Capital framework, potential use of parametric insurance and catastrophe bonds, and life and health insurance responses to declining birth rates, an ageing society, rising medical costs and technology to improve system efficiency.