Insurance in Thailand

Baker McKenzie LLP

Baker McKenzie LLP acts for insurers, reinsurers, insurance brokers, and financial institutions in life and non-life insurance matters. Sorachon Boonsong works on an extensive range of matters for many of the key insurance companies in the Thai market including multinational clients. He is an expert on the regulatory side with a close connection to and understanding of the Office of Insurance Commission. Sivapong Viriyabusaya is notable for his insurance expertise relating to M&A work. Ampika Kumar works on business transfer and corporate restructuring in the insurance sector, acting for Thailand's major companies while senior associate Amnart Pitakgorn's insurance practice consists of advice given on post-acquisition business integration. He also works on the regulatory side of insurance matters.

Other key lawyers:

Ampika Kumar; Amnart Pitakgorn

Key clients

Chubb Asia Pacific

AXA

Cigna

Liberty Mutual

Mitsui Sumitomo Insurance

FWD

Prudential

Samsung Life

Thai Life

Tokio Marine

Work highlights

  • Assisted FWD Group with the cross-border acquisition of the insurance unit of Siam Commercial Bank — SCB Life Assurance PCL — in addition to a 15-year long-term bancassurance arrangement. The transaction is Southeast Asia’s largest insurance M&A ever, valued at USD 3 billion.
  • Assisted an Asia-based non-life insurer with the acquisition of one of Thailand’s oldest insurers, marking Thailand’s largest non-life M&A to date, followed by a successful business integration of their entities in Thailand and the launching of the integrated entity via an amalgamation.
  • Assisted a leading international insurance company with obtaining 100% foreign shareholding approval from the Office of Insurance Commission.

DLA Piper

DLA Piper acts for the major insurers in Thailand and Southeast Asia, advising on M&A-related insurance,  regulatory matters and insurance claims. The 'technically superb' Peter Shelford is one of three co-chairs; he is prominent in the Thai insurance market, representing insurers and reinsurers. Heng Loong Cheong and John Goulios lead the firm's Hong Kong and Singapore offices and co-chair the Asia practice alongside Shelford. Senior consultant Robert Tang advises insurers on the regulatory aspects of their businesses, acting for clients in Thailand and Central Asia.  

Other key lawyers:

Robert Tang

Testimonials

‘Market leading team. Go to firm for complex high stakes insurance claims and regulatory matters. See them frequently on the high profile claims. Deeply knowledgeable and very responsive. A very strong team.’

‘Strong technical knowledge on insurance matter. Ability to turnover matter within agreed time frame.’

‘Peter Shelford is one of the leading insurance lawyers in Thailand. He has great connections and truly understands the market. Technically superb. Super responsive too.’

‘Robert Tang stands out for his ability to understand the most complex issues and come up with novel solutions. He is a great strategist.’

Key clients

Aetna Inc.

ACE Life Assurance Public Co., Ltd.

AIG

Allianz C.P. General Insurance Co., Ltd.

Allied World

AON

Chubb / Chubb Samaggi Thailand

Deves Insurance PCL

Crawford & Company Adjusters (UK) Limited

Generali Group

Golden Arches Insurance DAC

IAG Limited.

Mitsui Sumitomo Insurance Co., Ltd.

QBE Insurance (Thailand) Co., Ltd.

Sumitomo Life Insurance Company

Sompo Japan Insurance (Thailand) Co.

Tokio Marine

XL Catlin Insurance

Work highlights

  • Represented Thaisri Insurance PCL and the captive reinsurers in a recovery-subrogation action.
  • Advised Marsh & McLennan Companies Inc. on its global post-acquisition integration (covering eight Asian jurisdictions), including obtaining certain exemptions from the local insurance regulators, as well as advising on the structuring of the insurance intermediaries and client transfers under the insurance regulations.

Watson Farley & Williams (Thailand) Limited

Watson Farley & Williams (Thailand) Limited's team is cited for being 'partner led'. It acts on a array of insurance matters for insurers, reinsurers and brokers in Thailand and internationally. The firm's expertise covers the energy, oil and gas, transport, aviation and maritime sectors. Alan Polivnick, who co-heads the team, is highlighted for 'his breadth of knowledge of insurance law and regulations'. His practice spans litigation and arbitration. Co-head Kay Kian Tan is a dispute resolution expert and represents international insurers in Thai court claims.

Practice head(s):

Alan Polivnick; Kay Kian Tan

Testimonials

‘Partner led, value for money, true partnership, extension of in-house legal department.’

‘Alan Polivnick is a true business partner with me and colleagues in legal department.’

‘Alan Polivnick has knowledge of travel and insurance law and regulations in the region and good connections with other APAC law firms.’

Key clients

Agoda/Priceline

AIG Insurance Public Company Limited

AXA XL

Falcon Insurance PCL

Ford Motor Company

Swiss Re

Kennedys

Kennedys' practice is notable for taking an 'encompassing view' of the insurance industry, and for its 'links to international reinsurance markets.' Suraphon Rittipongchusit, the team co-head, is rated for his continuing representation of major Thai and international insurers. This includes insurance disputes matters. His co-head Ian Johnston is a 'stand-out individual' in respect of areas such as policy coverage for insurers and reinsurers, commercial arbitration for international corporations and liability matters for hospitals.

Testimonials

‘An international firm that understands local constraints and challenges.’

‘A firm with links to international reinsurance markets.’

‘They are able to take a more encompassing view rather than being focused on Thailand in a bubble.’

‘Ian Johnston is a stand-out individual both in Thailand and the Singapore market.’

 

Key clients

Pacharasak Rattarangsi: Chubb Samaggi Insurance PLC

Nathaphol Keswakaroon (Pann): ACE INA Overseas Insurance Co., Ltd

Chirapa Winitchaiaynant: Chubb Samaggi Insurance PLC

Viwat Navakijwattana: Dhipaya Insurance Public Co. Ltd

Dennis Leung: Allied World Assurance (Hong Kong)

Philip Green: Allianz Global Corporate Solutions (Singapore)

Jason Ng: Allianz Global Corporate Solutions (Singapore)

Damien Pang: Allianz Global Corporate Solutions (Singapore)

Petchvilai Phuergsuwan : Dhipaya Insurance PLC

Hwan Kim: Allied World Assurance (Hong Kong)

Tassanai Kitcharoen : Dhipaya Insurance PCL

Work highlights

  • Providing coverage advice to an international reinsurer on a dispute relating to damage to four Gas Turbines in Qatar.
  • Advising London and Copenhagen based Insurers on coverage relating to construction All Risks and Operational policy claims in relation to lightning damage to multiple and increasing numbers of wind turbine blades.
  • Advising an international reinsurer on subrogated recovery.

Tilleke & Gibbins

Tilleke & Gibbins assists local and international insurers and reinsurers, brokers and agents as well as employers and employees. Athistha Chitranukroh heads up the team and has a 'strong expertise in insurtech and data privacy compliance'. She is serving a second two-year term as regulatory counsel to the Thai Insurtech Association. Eric Meyer is an 'excellent international lawyer' who works with reinsurers.  

Practice head(s):

Athistha (Nop) Chitranukroh

Other key lawyers:

Eric Meyer

Testimonials

‘Athistha (Nop) is the leader in the market and head of the regional insurance team of T&G. Nop understands how the market works and handles difficult issues. Her relationship with the Insurance regulator, Ministry of Finance, as well as insurance associations are very strong.’

‘Athistha Chitranukroh has very strong expertise in Insurtech and data privacy compliance for financial institutions and insurance companies. She also helps under on an M&A matter relation to acquisition on a non-life insurance company and broker in Thailand.’

‘Eric is also an excellent international lawyer that is very complimentary to the insurance dispute team. He makes negotiations with foreign reinsurers become less complex and less-worrisome.’

Key clients

AIA

AIG

AEGON

Auto & General

Dhipaya

Marsh & McLennan Group

MSIG

Prudential

Thai Life Assurance Association and the Thai General Insurance Association

Tokio Marine Life

Work highlights

  • Appointed by both the Thai Life Assurance Association and Thai General Insurance Association to advise on drafting/implementing industry guidelines for compliance with the Personal Data Protection Act for the entire insurance market in Thailand.
  • Acted for Marsh & McLennan Group in the Thailand and Myanmar elements of their USD5.6 billion global acquisition of Jardine Lloyd Thompson group.
  • Advising AIG Group in Thailand on both contentious and non-contentious matters related to their local business operations, including advice on insurance regulatory matters, preparing local insurance policies and insurance claims disputes.