Thailand's insurance industry continued to expand steadily last year, with total direct premiums rising 3.17% year-on-year to 969 billion baht, supported by strong growth in health, unit-linked, and travel insurance segments, according to the Office of the Insurance Commission (OIC).
The industry maintained growth momentum despite economic uncertainty and rising global risks, underscoring its role in risk management for households, businesses and the economy, noted the regulator.
Last year, life insurance premiums rose 3.62% to 676 billion baht, while non-life insurance premiums increased 2.17% to 293 billion baht.
Among life insurance products, ordinary life insurance remained the largest segment, generating 403 billion baht in premiums, followed by health riders at 135 billion baht, group life insurance 41.9 billion, unit-linked insurance products 41.4 billion, and annuity products 21.5 billion.
"The figures reflect growing consumer demand for long-term financial planning, healthcare protection, retirement savings, and investment-linked insurance solutions," the OIC said in a statement.
Unit-linked products posted the strongest growth among life insurance categories, expanding 15.5% year-on-year, followed by health at 12.4% and annuity products at 10.2%.
Renewal premiums accounted for 72% of total life premiums, indicating sustained policyholder demand for long-term protection coverage.
The life insurance sector also reported a sharp improvement in profitability, with net profit surging by 65.6% to 74.9 billion baht, supported by stronger underwriting performance and improved investment income.
Investment assets held by life insurers tallied 4.49 trillion baht at the end of 2025, 61% of which were in government bonds, highlighting the sector's financial stability and conservative investment strategy.
Among non-life, voluntary motor insurance remained the largest segment, generating 143 billion baht in premiums. Other categories included personal accident insurance at 31.8 billion baht, industrial all-risk and property insurance at 30.3 billion, compulsory motor insurance 20.6 billion, and health insurance 19.4 billion.
Health insurance is the fastest-growing segment in the non-life market, with premiums rising 19.8%, followed by travel insurance at 15.5% and personal accident insurance at 6.76%.
The regulator attributed the growth partly to the recovery in domestic and international travel activity, which lifted demand for broader insurance coverage.
"Demand for health and accident insurance continued to rise in line with growing public awareness of healthcare costs, financial protection and risk management," noted the OIC.
Although net profit in the non-life insurance sector declined by 25.2% year-on-year to 11.7 billion baht, the regulator said insurers remained financially resilient, with total investment assets rising 0.68% from the previous quarter to 350 billion baht.
Investments continue to focus on low-risk assets such as government bonds, deposits and corporate debentures.
