Thai General Insurance Association President Somporn Suebthawilkul remarked that the general insurance industry will encounter various challenges in 2026.
These challenges include risks associated with climate change, advancements in technology, evolving consumer behaviour that increasingly emphasises on specialised risk management, as well as emerging risks linked to electric vehicles (EVs), cyber threats and environmental, social and governance (ESG) issues.
Thai Insurance Research and Development (TIRD) forecasts that the non-life insurance sector will continue to expand in 2026, with total direct premium income expected to be between THB301,000m and THB303,900m.
This represents a growth rate of 2.5% to 3.5% compared to the previous year.
In 2026, several key challenges will require close monitoring, including rising costs, particularly for repairs and spare parts for electric vehicles; the frequency and severity of natural disasters impacting fire insurance and Industrial All Risks (IAR); and escalating reinsurance costs.
Additionally, global trade uncertainties are affecting marine and transport insurance, while health insurance is under pressure from medical inflation. Each of these factors could significantly influence premium growth trajectories across various segments.