The Thailand Office of Insurance Commission announced that the Registrar has ordered a 12-month suspension of the actuary licence of นายเฉลิมเกียรติ จรามรบูรพงศ์ (licence no. ว012/2567), effective from 13 August 2025. During the suspension period, the actuary is barred from performing actuarial duties and from applying for an actuary licence. The suspension follows findings that, while acting as actuary and certifying Siam Smile Insurance Public Company Limited’s 2023 policy liability calculation report, the actuary certified work that did not comply with the Office of Insurance Commission’s 2021 actuarial practice standards on insurance reserve valuation for risk-based capital. The conduct was assessed as inconsistent with multiple provisions of those standards (including clauses 4.1–4.6, 4.8–4.9, 4.16, 5.2(b)(3) and 5.3(j)) and as potentially breaching the professional code of ethics for actuaries, including the requirements on standard of practice and communication and disclosures, constituting an offence under the Non-Life Insurance Act B.E. 2535 (as amended) cited in the order. The Office of Insurance Commission also indicated it will intensify monitoring and follow-up of actuaries’ work through more proactive inspections and ongoing enforcement.
Thailand Office of Insurance Commission 2025-09-09
Thailand Office of Insurance Commission suspends an actuary’s licence for 12 months over non-compliant reserve liability certification
The Thailand Office of Insurance Commission has suspended the actuary licence of นายเฉลิมเกียรติ จรามรบูรพงศ์ for 12 months due to non-compliance with actuarial practice standards. The suspension relates to the certification of Siam Smile Insurance's 2023 policy liability report, which violated multiple provisions and potentially breached the professional code of ethics. The Commission plans to enhance monitoring and enforcement of actuaries' work.