Showing 1 - 10 of 32
Insurance regulator's stand on Covid policies upheld
Business, Published on 19/06/2024
» The Office of the Insurance Commission (OIC) has won a court ruling against Syn Mun Kong Insurance Plc (SMK), which filed a lawsuit claiming 40 billion baht in damages.
Government ready to bear part of Covid-19 payout
Business, Wichit Chantanusornsiri, Published on 21/12/2023
» The government will bear some of the burden for the payment of claims from Covid-19 policyholders, says Deputy Finance Minister Julapun Amornvivat.
Syn Mun Kong Insurance likely has 60 days to solve woes
Business, Nuntawun Polkuamdee, Published on 19/12/2023
» The Office of the Insurance Commission (OIC) is expected to give Syn Mun Kong Insurance Plc (SMK) 60 days to solve its liquidity problems and raise capital, but the regulator said the ailing insurer is unlikely to meet the deadline.
Insurance upheaval
Business, Post Reporters, Published on 27/12/2022
» A huge number of Covid-19 insurance lump-sum claims, spurred by the peak of the pandemic in 2021 and early this year, caused the closure of four insurance companies -- Asia Insurance, The One Insurance, Southeast Insurance and Thai Insurance -- as they did not have sufficient capital reserves to pay out on the claims.
Rolling with the punches
Business, Post Reporters, Published on 27/12/2022
» This year has been packed with events that highlighted both progress and setbacks — unavoidable realities in the world of business. The year posed challenges for the government and businesses seeking new opportunities post-pandemic, sparked hope among car makers that are anticipating growth of the electric vehicle industry in Thailand, as well as unsuccessful attempts by some companies to further grow their businesses.
SMK ordered to prepare rehabilitation plan
Business, Nuntawun Polkuamdee, Published on 08/11/2022
» The Office of Insurance Commission (OIC) has ordered SET-listed Syn Mun Kong Insurance (SMK) to rectify its financial position and prepare a rehabilitation plan after the Central Bankruptcy Court ordered the company to undertake rehabilitation and also appointed SMK as a rehabilitation planner.
SMK share price plunges on Q1 losses
Business, Nuntawun Polkuamdee, Published on 26/05/2022
» The share price of SET-listed Syn Mun Kong Insurance (SMK) plummeted on Wednesday after the company reported a loss of 29 billion baht in the first quarter.
SMK policyholders to protest after court accepts rehab petition
Online Reporters, Published on 22/05/2022
» A group formed to claim insurance pay-outs owed to them by Syn Mun Kong Insurance (SMK) is looking to stage a gathering on Monday after the company’s rehabilitation petition was accepted by the Central Bankruptcy Court on May 18.
BKI posts B3.58bn first quarter loss
Business, Nuntawun Polkuamdee, Published on 20/05/2022
» SET-listed Bangkok Insurance (BKI) reported a net loss of 3.58 billion baht for the first quarter, down 539% from a net profit of 816 million last year, after being hit by surging Covid claims.
Covid-hit SMK goes to bankruptcy court
Business, Nuntawun Polkuamdee, Published on 19/05/2022
» SET-listed Syn Mun Kong Insurance (SMK) filed a rehabilitation petition with the Central Bankruptcy Court on Tuesday after facing heavy losses from Covid-19 claims.