The Stock Exchange of Thailand (SET) was officially notified today (Wednesday) by Thai Group Holdings (TGH) of the decision of the board to close down one of its subsidiaries, Southeast Life Insurance, after it suffered a hefty loss caused by compensation payments made to customers who took out insurance coverage for COVID-19 infections under the “Found, Paid, Done” insurance plan.

In the letter, addressed to the SET, Thai Groups Holdings (TGH) chief executive officer, Chotipat Pichanon, said the company’s board decided to put an end to the insurance business of Southeast Life Insurance and to return its operating license to the registrar.

Full article: thaipbsworld.com

By Thai PBS World