The Thailand Office of Insurance Commission participated in the Thailand Reinsurance Conference 2025, where Secretary-General Chuchart Pramoolpol delivered a keynote on the regulatory role in strengthening insurance solvency and market resilience in response to intensifying natural catastrophe and climate-related risks. The speech outlined four strands of work: broadening catastrophe risk assessment beyond flood and earthquake to other perils and using the 2025 earthquake experience to test industry readiness; enhancing the Risk-Based Capital (RBC) framework to better capture catastrophe risk by referencing international approaches such as the Insurance Capital Standard (ICS) and Solvency II; strengthening insurers’ risk management standards through more robust risk assessment, stronger Enterprise Risk Management (ERM) capability and more effective reinsurance programmes; and promoting governance and organisational culture that supports proactive catastrophe risk management and forward planning.
Thailand Office of Insurance Commission 2025-10-31
Thailand Office of Insurance Commission sets out upgrades to solvency and catastrophe risk oversight at Thailand Reinsurance Conference 2025
The Thailand Office of Insurance Commission's Secretary-General, Chuchart Pramoolpol, addressed the Thailand Reinsurance Conference 2025, emphasizing efforts to bolster insurance solvency and market resilience against climate-related risks. Initiatives include expanding catastrophe risk assessments, enhancing the Risk-Based Capital framework, strengthening insurers' risk management standards, and promoting governance for proactive risk management.