BKI trims premium target for 2024

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The story "BKI trims premium target for 2024" was covered 10 hours ago by Bangkok Post, a news publisher based in Thailand.

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Bangkok Post 10h ago

BKI trims premium target for 2024 - Bangkok Post

Quick Summary:

Bangkok Insurance (BKI) has downgraded its 2024 premium target to 32 billion baht based on the decline in the motor insurance business as the automotive industry sags, claims rise, government spending is delayed and economic growth slows.

Several large government projects have delayed budget disbursement, including the rice insurance scheme, in which BKI has a market share of around 13%.

The company posted a profit before tax of 2.66 billion baht, down 3.4% year-on-year, with net profit decreasing 10% over the period to 2.29 billion.