Thailand Issue Draft Amendments for Insurance Laws 泰國發布保險法修正案草案

Thailand’s Office of Insurance Commission (OIC) announced draft amendments to the country’s laws for life and non-life insurance in December 2023, which brought out significant modifications for laws governing insurers. The aim of this amendment is to:

泰國保險委員會辦公室 (OIC) 於 2023 年 12 月宣布了該國人壽保險和非人壽保險法律修正案草案，對保險公司的監管法律進行了重大修改。修正案的目的是：

Ø Raise governance standards within the insurance industry

提高保險業治理標準

Ø Support compliance with the Financial Sector Assessment Program (FSAP) of the International Monetary Fund and the World Bank

支持遵守國際貨幣基金組織和世界銀行的金融部門評估計畫(FSAP)

Ø Address current regulatory enforcement issues

解決目前監理執行問題

Ø Harmonize governance standards for insurance businesses with these for financial institutions

協調保險企業與金融機構的治理標準

Key changes of the amendment are as follows:

此次修訂的主要變更如下：

A. Corporate Governance

公司治理

Ø Broadening the definition of directors to include representatives of foreign insurers’ branches in Thailand

擴大董事的定義，將外國保險公司在泰國分公司的代表納入在內

Ø Adding the same standards of care and obligations on “persons having the authority to manage the company” as directors

對“有權管理公司的人員”施加與董事相同的注意和義務標準

Ø Requiring OIC approval for appointment and reelection of directors

董事的任命和連任需要OIC的批准

Ø Expanding the list of prohibited connected transactions to include lease of property

擴大禁止關聯交易範圍，將財產租賃納入其中

B. Shareholding Requirements

持股要求

Ø Requiring mandatory reporting to the OIC for individuals holding 5% or more of shares in an insurance company

要求持有保險公司5%或以上股份的個人強制向OIC報告

Ø Requiring regulatory approval for 10% shareholding and prohibiting exceeding the limit without OIC approval or compliance with sub-regulations

10%持股需監理機關核准，未經OIC核准或未遵守子規定，禁止超出限制

C. Dividend Payments

支付股利

Ø Authorizing the OIC to issue sub-regulations on dividend payments from both life and non-life insurance companies

授權OIC發布有關壽險和非壽險公司支付股利的子法規

D. Products and Distribution

產品和分銷

Ø Allowing directors, staff and employees to sell insurance products after obtaining relevant training from the OIC

允許董事、員工和員工在獲得OIC的相關訓練後銷售保險產品

Ø Granting insurers discretion to set group insurance premium rates following regulations, methods, and conditions set out by the OIC without having to obtain OIC approval

賦予保險公司自由裁量權，可以根據OIC的規定、方法和條件設定團體保險費率，而無需獲得OIC的批准

Ø Allowing insurers to underwrite foreign currency-based insurance

允許保險公司承保外幣保險

Ø Allowing insurers to offer additional benefits beyond policy stipulations in compliance with the relevant OIC sub-regulations

允許保險公司依據OIC的相關細則提供保單規定以外的額外福利

E. Capital Fund and Finance

資本與財務

Ø Establishing minimum capital fund requirements of approximately THB 1 billion for non-life and THB 5 billion for life insurers

非壽險公司的最低資本要求約為 10 億泰銖，壽險公司的最低資本要求約為 50 億泰銖

Ø Imposing sanctions if the capital fund falls below the required amount

資本額低於規定金額時實施制裁

The amendments are currently being reviewed and discussed by the Thai cabinet, and the process of finalizing and enacting them still requires a great amount of time. We will keep you posted if there is any update.

目前泰國內閣正在對修正案進行審議和討論，最終確定和頒布的過程還需要大量時間。如果有任何更新，我們會及時通知您。

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