Next Generation Partners

Rising Stars

Insurance in Thailand

Baker McKenzie LLP

Counting international and local insurers, as well as self-regulatory bodies, among its key roster of clients, Baker McKenzie LLP's broad range of capabilities extend from regulatory and policy issues, to subrogation matters and insurance technology work. The practice is jointly led by Sivapong Viriyabusaya and Sorachon Boonsong, with the former being vastly experienced in insurance technology, as well as M&A and insurance regulation. Ampika Kumar is well-versed in M&A, corporate restructuring and business integration in the insurance arena, while key contact Amnart Pitakgorn is routinely engaged in regulatory and transactional matters. Thananan Sangnuan departed to join DLA Piper in March 2023.

Practice head(s):

Sorachon Boonsong; Sivapong Viriyabusaya


Other key lawyers:

Ampika Kumar; Amnart Pitakgorn


Testimonials

‘Excellent technical skills and commercial understanding. In-depth, detailed knowledge of industry and regulatory environment results in efficient solutions. This practice compares highly favourably to other firms.’

‘Ampika Kumar has excellent technical skills and commercial understanding, and provides effective, practical advice. She is also highly responsive and solution-focused.’

Key clients

Muang Thai Life Assurance Public Company Limited


Liberty


Allianz Ayudhya


Thai Life Insurance


Ocean Life Insurance


Generali


Howden Maxi


Chubb Asia Pacific Pte. Ltd.


ThaiSri Insurance Public Company Limited (subsidiary of ERGO International, a company within Munich Reinsurance Group)


Dhipaya Group Holdings Public Company Limited


Office Of Insurance Commission (OIC)


ERGO International AG


Falcon Insurance Public Company Limited


Work highlights


  • Assisted Dhipaya Group Holdings, a Thailand-based holding company focused on insurance assets, with the acquisition of 4.56 million shares in Erawan Insurance Public Company Limited.
  • Assisted ERGO with its contemplated acquisition of a Thai insurance target, a publicly listed insurer. The target company is regulated by both insurance law and capital market regulation, while the potential acquirer (i.e., ThaiSri Insurance Public Company Limited) is also regulated by insurance law.
  • Assisted Thai Life Insurance to apply for lifting up the foreign shareholding limit from 25% to 49% from the Office of Insurance Commission (“OIC Approval”). Normally, the OIC Approval would be issued to the specific strategic foreign investor holding 49%. However, for this approval, we had to seek the approval in a broadened manner, so that the IPO shares would be more flexible for foreign investment, one of the key objectives (fundraising from the foreign investor).

DLA Piper

DLA Piper’s insurance practice regularly handles structuring matters, the development of new products and regulatory compliance issues, amongst others. The team maintains a strong presence in many arenas, including property and energy, business interruption and reinsurance claims. Robert Tang helms the practice and is 'well known in the market for handling the most challenging claims across all lines of business'. Samata Masagee has recently advised clients on joint ventures, M&A and insolvency of insurance companies, while Thananan Sangnuan, who joined from Baker McKenzie LLP in March 2023, has strengths in managing regulatory compliance, bancassurance arrangements and M&A for insurance companies. Senior consultant Peter Shelford is another name to note at the firm.

Practice head(s):

Robert Tang


Other key lawyers:

Samata Masagee; Thananan Sangnuan; Peter Shelford


Testimonials

‘Peter Shelford is very responsive and consistently delivers a high-quality work product. A safe pair of hands if you need support on arbitration matters with a Thai law nexus.’

‘Robert Tang is a great communicator and offers strategic insights during meetings. He is also very hard-working.’

‘Excellent market connections. Knows the local and international reinsurance market extremely well. Global reach to help with our businesses in different markets.’

‘A team of excellent litigators and subject matter experts. Always providing very commercial advice.’

‘Deep bench of Thai and international lawyers.’

‘Robert Tang is always available. He is super responsive and well known in the market for handling the most challenging claims across all lines of business.’

‘Robert Tang is able to navigate our management through the most challenging disputes in a commercial way. He is a go-to lawyer and certainly the lawyer of choice for insurance matters.’

Key clients

Starr International Insurance


Aetna Global Holding Limited


Alayne Investments Limited (dba Winter Capital)


Korean Reinsurance Company (Korean Re)


FWD General Insurance


ACE Life Assurance Public Co., Ltd.


Allied World


Crawford & Company Adjusters (UK) Limited


IAG Limited


Mitsui Sumitomo Insurance Co., Ltd.


Tokio Marine


XL Catlin Insurance


Work highlights


  • Acting as co-counsel to Korean Re in a complex quota share reinsurance treaty dispute with Thai Reinsurance PCL (Thai Re).
  • Advising a number of insurers and others following the major explosion at a chemical factory complex in Samut Prakan in July 2021.
  • Advising Aetna Global Holding Limited on the divestment of its non-life insurance business in Thailand through the sale of 100% of shares in Aetna Health Insurance (Thailand) Public Company Limited and other entities in Thailand to Allianz Ayudhya Capital Public Company Limited.

Clyde & Co

With the opening of the Bangkok office in November 2022 and practice leader Ian Johnston's joining from Kennedys, Clyde & Co's newly formed insurance practice encompasses contentious and non-contentious insurance matters, ranging from energy and construction to cyber and aviation-related insurance issues. Johnston contributes his experience across the full spectrum of insurance services to the practice, while legal director Sorawat Wongkaweepairot is noted for his expertise in insurance and reinsurance, and senior associate Phutita Luksilakul bolsters the practice with her capabilities in the insurance, shipping and transport sectors.

Practice head(s):

Ian Johnston


Other key lawyers:

Sorawat Wongkaweepairot; Phutita Luksilakul


Testimonials

‘Easily approachable, knowledgeable of the issues needed to be addressed and very responsive to deadlines.’

Key clients

Chubb Samaggi Insurance PLC


ACE INA Overseas Insurance Co., Ltd


Beazley Pte Ltd


AXA XL Singapore


AXIS, London


Allianz Global Corporate & Specialty SE Singapore Branch


Tokio Marine Safety Insurance PCL


Codan


CNA Hardy


Starr International Insurance (Thailand) PCL


Bangkok Insurance


Starr International


AXAXL London


Mitsui Insurance Group


Liberty Singapore


Linklaters

Advising both domestic and international clients, Linklaters advises on life and general insurance mandates, joint ventures and regulatory compliance matters. Other key areas of expertise include public and private company laws, takeover rules and stock exchange regulations, alongside various other transactions in the insurance arena. The practice is jointly led by Wilailuk Okanurak, who advises on high-value corporate transactions in the insurance sector, and Sutthipong Koohasaneh, who acts for clients on a range of issues including M&A, takeovers and foreign investment.

Practice head(s):

Wilailuk Okanurak; Sutthipong Koohasaneh


Key clients

AIA Company Limited


Allianz


CIMB


Charoen Pokphand Group


Citibank


Bangkok Bank


Bank of Ayudhya


Generali


Insurance Australia Group


Manulife


Muang Thai Life


Ngern Tid Lor Pcl


The Siam Commercial Bank


Samsung


Work highlights


  • Advised Allianz Ayudhya Capital PCL on its acquisition of Aetna’s health insurance and medical service businesses in Thailand.
  • Advising Citi on the sale of its five consumer banking businesses in Southeast Asia. The transactions include the sale of Citi’s consumer banking businesses in Thailand, Indonesia, Malaysia and Vietnam to United Overseas Bank and its consumer banking business in the Philippines to Union Bank of the Philippines.

Tilleke & Gibbins

Tilleke & Gibbins's capabilities include a diverse range of work, from insurance claims and litigation to advising clients on the legal implications of new products. The practice is jointly led by insurtech expert Athistha Chitranukroh, who re-joined the practice in August 2022 following a one-year hiatus, alongside Eric Meyer and Noppramart Thammateeradaycho. Meyer has particular strengths in contentious matters, regularly assisting insurers and reinsurers with damage to infrastructure and a variety of other issues, while Thammateeradaycho is routinely engaged in maritime insurance claims.

Practice head(s):

Athistha Chitranukroh; EricMeyer; Noppramart Thammateeradaycho


Testimonials

‘Tilleke & Gibbins is a well known and highly respected law firm in the industry with in-depth understanding of insurance practices, and regulatory environments.’

‘Athistha Chitranukroh is one of the top lawyers in the industry, very insightful and is an expert in insurance and technology related matters.’

‘We have found them to be very knowledgeable on the various aspects of insurance law, and practical in their advice.’

‘Athistha Chitranukroh has been a pleasure to work with. She is always prompt and responsive, and ensures that her team delivers a solid work product.’

Key clients

AEGON


AIA


AIG


Auto & General


Dhipaya Insurance


Marsh PB


MSIG


Prudential


Thai General Insurance Association


Thai Life Assurance Association


Work highlights


  • Advised Thai Life Assurance Association and Thai General Insurance Association to advise on the drafting and implementation of two sets of PDPA compliance guidelines for the insurance industry in Thailand.
  • Advised AIG to provide ongoing legal and regulatory advice with respect to its operations and insurance product offerings in Thailand as well as in other emerging jurisdictions across Southeast Asia.
  • Advised AIA Thailand with the Thai legal elements of its launch of a customer-facing mobile application (AIA+) and an agent-facing mobile application (AIA iPoS+) to consolidate standard processes and procedures for the sale and maintenance of insurance policies in Thailand.

Watson Farley & Williams (Thailand) Limited

Counting local and global insurers in its client roster, Watson Farley & Williams (Thailand) Limited handles contentious and non-contentious insurance matters, with recent involvement in the hospitality, construction and logistics sectors. Jointly helming the practice is Kay Kian Tan, who advises international insurance and reinsurance companies on dispute resolution cases, and Sydney-based Alan Polivnick, who is routinely engaged in a broad array of insurance work, such as insurance and reinsurance litigation, as well as advising clients on regulatory requirements. Tossaporn Sumpiputtanadacha is another key contact in the group.

Practice head(s):

Kay Kian Tan; Alan Polivnick


Other key lawyers:

Tossaporn Sumpiputtanadacha


Key clients

Agoda


Ince GD


ZA Tech Global Limited


Work highlights


  • Advised Agoda on negotiating master and local agreements with Agoda’s insurance partners and addressing the Thai regulatory requirements for the online sale of insurance, as well as the interaction between insurance regulations, online consumer disclosure regulations and the technical requirements for online e-commerce.
  • Advised ZA Tech Global Limited on its acquisition of shares in GoBear Insurance Broker (Thailand) Co., Ltd.

Chandler MHM Limited

With demonstrable experience in disputes and regulatory insurance matters, Chandler MHM Limited's practice advises clients on the full spectrum of insurance-related mandates, including M&A. Co-lead Waree Shinsirikul is active on the litigation and alternative dispute resolution front, and fellow co-lead Nathee Silacharoen has considerable experience in handling insurance-related disputes, representing a consortium of clients.

Practice head(s):

Waree Shinsirikul; Nathee Silacharoen


Key clients

Erawan Insurance Pcl.


Work highlights


  • Represented family shareholders of Erawan, a non-life insurance company, in connection with the share sale transaction of 80% to Dhipaya Group.