Generali launches Professional Indemnity Insurance Solutions in Thailand

19 September 2017

Through Generali Global Corporate & Commercial Asia, Generali now offers Commercial and Financial Institution Directors and Officers (D&O), Single Project Professional Indemnity (SPPI) and Professional Indemnity (PI) cover to the Thai market

Generali has launched four new Financial products lines in Thailand. With support from Global Corporate & Commercial Asia, the company is offering Commercial and Financial Institution Director and Officer (D&O), Single Project Professional Indemnity (SPPI) and Professional Indemnity (PI) cover in Thailand.

Business in Thailand is getting more challenging for financial institutions and companies. Our new financial insurance solutions can protect board-level members and professionals from financial losses, claims, lawsuits and judgments arising out of their decisions.

The appointment of Mr. Parinya Tuskasorn as Financial Line Manager of Generali Thailand has increased Generali’s technical underwriting and claims capabilities. A launch event for the new products was held on 18th August in Bangkok, during which guest speaker, Mr. Chaiporn Supvoranid, a partner from Baker Mckenzie, gave delegates an overview on litigation tendencies, as well as case studies on Directors and Officers and Professionals liability. Head of Financial Line Asia, Cecilia Chang also presented at the product launch event.

Mr. Korakrit Khumrungrit, Chief Executive Officer Generali Insurance, said: “Despite the economic slowdown, Thailand’s insurance market is still highly competitive, however Generali Thailand’s strength comes from its global brand reputation, as well as its high caliber services and world-class professional management. The new product lines strengthen our distinctive position in the Corporate & Commercial market and enhance Generali Thailand’s reputation as a global brand with high standards, a key selling point that builds trust and confidence with customers.”

Mr. Hayden Seach, Head of Generali Global Corporate and Commercial Asia, said: “I am delighted that we are able to extend our Thailand capability to include these Financial Lines insurance solutions. We are interested in helping to meet the risk management needs of the executive management of Thai companies, and strive to add value through the insurance services that we offer.”

Generali Life Assurance (Thailand) Public Co., Ltd., and Generali Insurance (Thailand) Public Co., Ltd., were found in September 2002 with the business cooperation of Assicurazioni Generali Group and Tantipipatpong family. Generali Thailand offers creative and diversified products both on the chapter of Life Assurance and Insurance in order to respond to the needs of customers, individually and company group.

Generali is an independent, Italian Group, with a strong international presence. Established in 1831, it is among the world’s leading insurers and it is present in over 60 countries with total premium income exceeding €70 billion in 2016. With over 74,000 employees in the world, and 55 million clients, the Group has a leading position in Western Europe and an increasingly significant presence in the markets of Central and Eastern Europe and in Asia. In 2017, Generali Group was included among the most sustainable companies in the world by the Corporate Knights ranking.

Generali Global Corporate & Commercial is the Generali Group unit that develops the P&C business and insurance services for medium and large companies. Generali Global Corporate & Commercial acts on a global scale and deploys an integrated approach at Group level with a central management team and specialized teams active in individual countries. GC&C draws on a worldwide network of professionals to offer a seamless approach towards global risks and deliver what matters to clients. With a client-centric approach, GC&C provides a full range of property, casualty and specialty lines protection to corporate and commercial clients and their brokers worldwide.
Today more than 1,000 professionals work in the nine main offices of GC&C in Milan, London, Madrid, Paris, Prague, Sao Paolo, Hong Kong, New York and Munich. GC&C serves clients and brokers in more than 100 countries, generating an overall Gross Written Premium (GWP) of approximately € 2.0bln.