Thailand attracts disasters of all kind, politics or natural & global special insurer have been noticing.
Now, the talk in Thailand, is that Thailand is in the “Eye of the Political Storm” and the “Political Storm” is a “Perfect Storm.” What all of that means, is that many say Thailand is on the verge of a certain “Civil War.”
Recently, Thailand’s only professional news group, Matichon, had an interesting analysis on Thailand politics. It said the current Thai political crisis, is not about democracy, liberty and justice, being attacked by dictatorship, as the reality of the situation is, Thailand has always been far extreme right, with democracy, liberty and justice, only popping up now and then.
It seem for ages, Thailand has been in a political crisis, and with Thailand’s development and increase sophistication, modern concept such as riots insurance and terrorism insurance has popped up. For example, the court battle involving terrorism and the Central World Burning.
Then with global warming and environmentalist, Thailand is greatly exposed to adverse weather patterns, and severe floods always seem to be around the corner, and also severe drought. Then natural disaster like Tsunami and smog from forestry fire.
They say in every crisis is an opportunity and it seems insurance firms are made to benefit from crisis. And Thailand seems to be a great opportunity.
Take Catlin, the UK’s special insurer, involved in things like flood and terrorism insurance, has given its strongest signal yet, says Financial Times, that it would consider paying a special dividend for the first time since the Lloyd’s of London insurer floated a decade ago.
Stephen Catlin, founder and chief executive, acknowledged on Monday that the insurer – which in contrast to rivals has long eschewed one-off payouts in favour of expansion – would look at returning capital to shareholders if its financial position strengthened further.
Financial Times says Catlin is looking at expanding outside Lloyd’s in several lines of insurance, ranging from fine art to terrorism cover.
“You only return surplus capital if you’ve got no growth and can’t put it to use,” the chief executive said.
“At the London market we don’t see much opportunity for growth. There’s too much competition.”
Catlin is set to open an office in Dubai. Mr Catlin indicated the group was considering expansion into territories including Indonesia, Vietnam, Thailand and African markets.
Catlin group wrote $5.3bn worth of premiums in 2013 – 7 per cent more than a year ago. However, the expansion came outside London.