New notifications have been issued by the Thai insurance regulator affecting existing insurance brokerages and changing the means of establishing new brokerages. These notifications became effective on 1 January 2012.
The key changes and other points to note
A holder of a corporate insurance brokerage license continues to be deemed a licensed insurance brokerage.
An insurance brokerage continues to require a minimum of Baht 2 million fully paid up capital. There is no longer any express requirement that an insurance brokerage issue ordinary shares only.
There is no limitation on the number of registered corporate objectives that an insurance brokerage may have.
Click here for the full case update on our website.
This post was co-authored by DLA Piper Managing Partner - Thailand, Peter Shelford; Consultant, Jonathan Goacher; and Associate, Athistha Chitranukroh
This information is intended as a general overview and discussion of the subjects dealt with. The information provided here was accurate as of the day it was posted; however, the law may have changed since that date. This information is not intended to be, and should not be used as, a substitute for taking legal advice in any specific situation. DLA Piper is not responsible for any actions taken or not taken on the basis of this information. Please refer to the full terms and conditions on our website.
The key changes and other points to note
A holder of a corporate insurance brokerage license continues to be deemed a licensed insurance brokerage.
An insurance brokerage continues to require a minimum of Baht 2 million fully paid up capital. There is no longer any express requirement that an insurance brokerage issue ordinary shares only.
There is no limitation on the number of registered corporate objectives that an insurance brokerage may have.
Click here for the full case update on our website.
This post was co-authored by DLA Piper Managing Partner - Thailand, Peter Shelford; Consultant, Jonathan Goacher; and Associate, Athistha Chitranukroh
This information is intended as a general overview and discussion of the subjects dealt with. The information provided here was accurate as of the day it was posted; however, the law may have changed since that date. This information is not intended to be, and should not be used as, a substitute for taking legal advice in any specific situation. DLA Piper is not responsible for any actions taken or not taken on the basis of this information. Please refer to the full terms and conditions on our website.
