Clifford Chance

Thailand: Notification on foreign ownership of insurance companies effective 5 February 2016

5 February 2016

The Insurance Commission (IC) has issued a Notification prescribing its rules, procedures and conditions for exercising the IC's power to approve foreigners holding up to 49% of the voting shares of an insurance company (foreigners are normally limited to 25%) and to foreigners comprising more than a quarter (which is the normal limit) but less than half of the total directors, of both life and non-life insurance companies. The Notification came into effect on 5 February 2016.

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