Thai Non-Life Insurance Companies’ Finances and the Historic 2011 Floods

Abstract

The devastating floods in Thailand caused the country's fifth-costliest disaster in the last 31 years Many companies suffered in every facet. As a result, Thai non-life insurance firms lost $4.1 billion. Focusing on improvements in their main performance metrics, this article studies the financial implications of floods for those businesses. The financial information of the Thai non-life insurance is taken from three different periods; 2008 – 2010 (prior to the foods), 2011 (the floods year), and 2012 – 2014 (post floods). Descriptive and inferential statistics reflect variances in non-life insurance companies where the flooding had a devastating effect on them. This study serves as a starting point for Thai insurance firms, the government, and potential researchers.