Thai Reinsurance Public Company Limited (THRE) shares rose 3.51% to 0.59 baht after the Cabinet approved in principle the establishment of a national disaster insurance system, which will provide coverage for approximately 30 million households nationwide. The government will subsidize insurance premiums, covering floods, storms, and earthquakes, with a maximum claim payout of 100,000 baht per occurrence per household. In the event of death, beneficiaries will receive 2 million baht per person. This measure shifts the approach from post-disaster relief to proactive risk management, with the Department of Disaster Prevention and Mitigation and the Office of the Insurance Commission tasked to expedite the details and review relevant laws.
Thai Reinsurance Public Company LimitedCabinet approval of national disaster insurance system creates new demand for reinsurance services.
