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Insurance

Key Contacts

Cambodia

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Jay Cohen

     +855 23 964 210

     [email protected]

Athistha (Nop) Chitranukroh

     +66 2056 5600

     [email protected]

Athistha (Nop) Chitranukroh

     +66 2056 5600

     [email protected]

Prisna Sungwanna

     +66 2056 5656

     [email protected]

Athistha (Nop) Chitranukroh

     +66 2056 5600

     [email protected]

Athistha (Nop) Chitranukroh

     +66 2056 5600

     [email protected]

Athistha (Nop) Chitranukroh

     +66 2056 5600

     [email protected]

OVERVIEW

The first choice for insurance law in mainland Southeast Asia.

Tilleke & Gibbins offers a leading regional practice in insurance and reinsurance law across Southeast Asia. Our team is unique in being led by local practitioners with international industry experience and credentials gained through years of experience in-house at some of the world’s largest insurers. Our regular representation of many world-leading insurers and reinsurers, and our achievements while working with them, has led to regular recognition by world-leading legal industry directories such as Chambers Asia-Pacific, The Legal 500, and Asialaw Profiles. 

Our insurance services include:

  • Property, casualty, and financial lines coverage disputes
  • Reinsurance litigation and arbitration
  • Professional indemnity, and directors and officers defense
  • Employers, public, product, and environmental liability
  • Aviation, marine, construction, and energy disputes
  • Mergers, acquisitions, and corporate restructurings
  • Online distribution, bancassurance, and broking activities
  • Market entry and regional operations
  • Regulatory compliance
  • Policy wording advice and localization
Case Studies

Securing Insurance Regulatory Reform to Facilitate a Client’s Restructuring

We advised the Thailand group of a multinational American insurance corporation on a restructuring and a merger and acquisition transaction. As the proposed transaction was not provided for within existing insurance regulations, we worked with Thailand’s insurance regulator, the Office of Insurance Commission (OIC) on building an appropriate regulatory framework for it. 

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Regional | Insurance | Full Service

Acting as Regional General Counsel for Marsh & McLennan

Retained by Marsh & McLennan Group to assist with all legal matters in mainland Southeast Asia, including market entry, M&As, joint ventures, business collaborations, insurtech offerings, product launches, cross-border insurance, and corporate secretarial services, among others.

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Experience

  • Defending a multinational insurer in a coverage dispute arising from a Securities and Exchange Commission investigation of a listed mutual fund and subsequent allegations of liability.
  • Representing international reinsurers in a USD 6 million reinsurance arbitration brought by a local Thai cedant in respect of outstanding losses from the 2011 floods in Thailand.
  • Representing international reinsurers in respect of USD 150 million coverage litigation arising out of property damage incurred during the 2010 Bangkok civil unrest.
  • Appointed by a Japanese insurer to defend against product liability claims for allegedly defective airbags brought against its insured in Thailand.
  • Acted for numerous insurers and reinsurers in the defense and settlement of property damage and business interruption claims, valued at over USD 700 million, arising from the 2011 floods in Thailand.
  • Advised one of the largest property and casualty insurers on a facultative reinsurance placement for a USD 870 million hydroelectric energy project involving parties from Thailand and Laos.
  • Represented international reinsurers in respect of the defense and settlement of a USD 184 million coverage dispute arising from an offshore gas pipeline incident.
  • Defended a global insurance broker against allegations of professional negligence in failing to procure adequate insurance coverage for the operations of a large Thai manufacturing conglomerate.
  • Advised a global specialty insurer on the defense and settlement of medical device and clinical trial liability claims.
  • Advised a number of international brokers on establishment, JV arrangements, and licensing of operations in Cambodia, Myanmar, Thailand, and Vietnam.
  • Assisted a multinational American-based insurance corporation on its organizational restructuring and asset acquisition project, valued at THB 3 billion, in Thailand.
  • Advised the Thai subsidiary of a global broker on partnership structures with local and overseas business partners and its insurance-related advisory services in a number of Southeast Asian countries. Provided insurance regulatory advice on the client’s commercial arrangements for credit facility business transactions with entities in Myanmar and Singapore.
  • Assisted a British insurance broker in setting up its online insurance products website aggregator in Thailand, including advising on business arrangement structures with the top ten leading motor insurers in the Thai market.
  • Advised a Japanese-based insurance company on the rollout of their new insurance products through both online and traditional distribution channels. Provided legal analysis for end-to-end distribution transactions, as well as associated insurance regulations, electronic transaction laws, online business operator laws, computer crime laws, and anti-money laundering regulations.
  • Advised client on structuring a partnership with one of the biggest e-commerce companies in the Southeast Asian region for exclusive distribution of extended -warranty products for online customers in Thailand.
  • Assisted an international insurer on data privacy and outsourcing regulatory requirements to establish a regional data center in Southeast Asia.
  • Defended a logistics company against a subrogated insurance claim for THB 1.3 million. We successfully argued that our client should only pay in accordance with its liability limits and saved the client over THB 1 million.
  • Advising a German insurer on aspects of Thai law related to an automotive product liability claim brought against an insured manufacturer in Germany.

PROFESSIONALS

RELATED INSIGHTS

April 1, 2025
The collapse of a building under construction in Bangkok on March 28, 2025, following a powerful earthquake in Myanmar has sparked widespread public concern about the potential financial impact on local insurers and insurance implications. The construction site was insured under a contractors’ all risks (CAR) policy, and initial reports and market speculation suggest that the event could cause serious financial strain for the domestic insurance industry. Nevertheless, local insurers connected to the site of the collapse may face limited exposure for two main reasons: Reinsurance significantly mitigates local insurers’ exposure. According to market sources, 95% of the CAR coverage for the construction site was reinsured by foreign reinsurers. This is standard risk-management practice for large-scale infrastructure and construction projects, allowing local insurers to participate in underwriting while transferring most of the liability offshore. As a result, the direct financial impact on domestic insurers is expected to be minimal, subject to the reinsurance contracts and any potential claims disputes. Potential exclusions may apply. The Thai General Insurance Association has issued an interim public advisory noting that coverage under the CAR policy may be limited or excluded altogether, pending a full investigation. CAR policies often contain exclusions for certain events, depending on how the policy is worded and the actual cause of the incident. A thorough factual and forensic investigation will be necessary to determine the true cause and assess policy applicability. For further information or assistance in reviewing CAR or project insurance coverage in Thailand, please contact Athistha (Nop) Chitranukroh at [email protected], Witchupong Chittchang at [email protected], or Ajaree Trachukul at [email protected].
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December 10, 2024
Thailand’s Ministry of Finance (MOF) has issued a new notification easing foreign shareholding and board limits for life insurers. This long-awaited update aligns with the draft notification that was previewed in May 2024, and reflects the MOF’s intention to enhance the stability and competitiveness of life insurers. Life Insurer Qualifications Life insurers may apply for permission to exceed 49% foreign shareholding or have a majority of foreign directors if: The life insurer operates in a manner that could harm the insured or the public, and either (1) the OIC has directed the company to improve its status or adjust its capital, or (2) the company’s actions may have a significant impact on the insurance industry, causing significant compensation burdens and affecting the company’s capital adequacy ratio (CAR); The life insurer’s shareholders are unable to increase capital; and The life insurer is unable to attract Thai investors to increase the capital necessary to ensure stability and the long-term operation of the business. Foreign Shareholder Qualifications To qualify, foreign shareholders must: Either be an insurance company or have at least 10 years of relevant experience in the insurance industry; Demonstrate financial stability and possess a credit rating (or have a parent company with a credit rating) of at least “A” from a reputable credit rating agency; Present a clear and comprehensive business plan to develop and promote the company’s efficiency and competitiveness in the industry; and Be able to make an investment that increases the company’s capital by at least THB 2 billion to maintain stability with a CAR of at least 250%. For more details on the MOF’s notification regarding criteria on foreign shareholding limits for life insurance companies, or on any issue concerning insurance regulations in Thailand, please contact Athistha (Nop) Chitranukroh at [email protected], Witchupong Chittchang at [email protected], Ajaree
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December 6, 2024
Thailand’s Office of Insurance Commission (OIC) recently announced two Notifications regarding Timeframe Standards for Service Level Agreements, for both life and non-life insurance companies. Under these notifications, every insurance company is required to set out clear and specific timeframes in its service level agreement (SLA) for at least the following activities: Providing information about life and non-life insurance and offering insurance policies; Underwriting and providing after-sales services; Paying compensation under the insurance policy; and Handling complaints. The timeframes described in the SLA must not exceed those specified in the insurance policy or by the relevant laws, and the SLA (which must be published on the insurer’s website) must be continually updated to reflect any changes in the timeframes. Insurance companies are required to disclose the standard timeframes for SLAs on their website by January 1, 2025, and notify the OIC through the channels and methods specified by the OIC. For more details on the OIC’s notifications on SLA timeframe standards, or on any aspect of insurance regulations in Thailand, please contact Athistha (Nop) Chitranukroh at [email protected], Witchupong Chittchang at [email protected], Ajaree Trachukul at [email protected], Thammapas Chanpanich at [email protected], or Sireethorn Wijan at [email protected].
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December 4, 2024
Thailand Legal Basics, a valuable primer for foreign investors, explores all aspects of living and doing business in Thailand. Written by specialists at Tilleke & Gibbins in Bangkok, it is the only comprehensive English-language guide to the Thai legal system with a focus on the concerns of foreign business and investment.
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AWARDS & RANKINGS
September 12, 2025
The 2025/2026 edition of the IFLR1000 Asia-Pacific rankings, released by International Financial Law Review (IFLR), highlights Tilleke & Gibbins’ continued excellence in financial and corporate transactional work. The firm has maintained its strong rankings across multiple jurisdictions and practice areas while achieving notable upgrades and new recognitions, reaffirming its position as a leading firm in the Asia-Pacific region. This year, Tilleke & Gibbins received firmwide rankings in key jurisdictions, including: Thailand Banking & Finance—Tier 3 Capital Markets: Debt—Tier 3 Capital Markets: Equity—Tier 3 M&A—Tier 2 Project Development—Tier 2 Restructuring & Insolvency—Tier 3 Vietnam Banking & Finance—Tier 4 M&A—Tier 3 Project Development—Tier 3 Cambodia Financial & Corporate—Tier 2 Project Development—Tier 2 Laos Financial & Corporate—Tier 2 In addition to these firmwide rankings, Tilleke & Gibbins had several standout individual recognitions, with 12 lawyers honored in the 2025/2026 individual rankings—an increase from last year’s 10. This year’s results include upgraded rankings for John Frangos and new rankings for Charupat Boon-Long, Derrick Khoo, Prisna Sungwanna, and Saravut Krailadsiri. The full list is as follows: Charunun Sathitsuksomboon—Highly Regarded, M&A, Thailand; Women Leader Charupat Boon-Long—Rising Star, M&A, Thailand (new ranking) David Mol—Rising Star, Corporate and M&A, Cambodia Derrick Khoo—Rising Star (Partner), Financial and Corporate, Thailand (new ranking) Jay Cohen—Highly Regarded, Banking, Cambodia John Frangos—Highly Regarded, Restructuring & Insolvency, Thailand (upgraded ranking) Niti Muangkote—Rising Star, Financial & Corporate and Project Development, Laos; Highly Regarded, Banking & Finance, Thailand Prisna Sungwanna—Highly Regarded, Financial & Corporate, Laos (new ranking) Saithong Rattana—Notable Practitioner, Project Development and M&A, Laos Santhapat Periera—Highly Regarded, Banking & Finance and M&A, Laos; Highly Regarded, Banking & Finance, Thailand Saravut Krailadsiri—Notable Practitioner, Thailand (new ranking) Tram Ngoc Bich Nguyen—Highly Regarded, M&A, Vietnam To see the full set of IFLR1000 rankings for Tilleke & Gibbins’ jurisdictions, please see the Cambodia, Laos, Thailand, and Vietnam pages
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September 3, 2025
Tilleke & Gibbins is honored to announce that the firm has been shortlisted for three prestigious categories at the Asialaw Awards 2025. This year’s shortlist reflects the outstanding work of the firm’s teams across Southeast Asia and highlights their ongoing commitment to delivering exceptional client service in the region. In the firmwide category, Tilleke & Gibbins was nominated for: Cambodia Firm of the Year Laos Firm of the Year In the individual category, Prisna Sungwanna was shortlisted for Laos Female Lawyer of the Year, joining an impressive field of nominees from other leading firms. The Asialaw Awards celebrate the most outstanding firms and lawyers across the Asia-Pacific region. The 2025 winners are set to be announced at an awards ceremony in Ho Chi Minh City in November. For more information on the Asialaw Awards 2025 and to browse a full list of the nominees, please visit the Asialaw website.
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