{"version":"1.0","provider_name":"Tilleke &amp; Gibbins","provider_url":"https:\/\/www.tilleke.com","author_name":"Joel Akins","author_url":"https:\/\/www.tilleke.com\/author\/joel\/","title":"Thailand Considers Easing Foreign Shareholding and Board Limits for Life Insurance Companies - Tilleke &amp; Gibbins","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"cuvTg71f0j\"><a href=\"https:\/\/www.tilleke.com\/insights\/thailand-considers-easing-foreign-shareholding-and-board-limits-for-life-insurance-companies\">Thailand Considers Easing Foreign Shareholding and Board Limits for Life Insurance Companies<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.tilleke.com\/insights\/thailand-considers-easing-foreign-shareholding-and-board-limits-for-life-insurance-companies\/embed\/#?secret=cuvTg71f0j\" width=\"600\" height=\"338\" title=\"&#8220;Thailand Considers Easing Foreign Shareholding and Board Limits for Life Insurance Companies&#8221; &#8212; Tilleke &amp; Gibbins\" data-secret=\"cuvTg71f0j\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/* ]]> *\/\n<\/script>\n","description":"Thailand\u2019s Office of Insurance Commission (OIC) has opened a public hearing period on a draft notification from the Ministry of Finance (MOF) that would relax foreign shareholding and board limits for life insurers. The hearing period runs until May 31, 2024. Key principles of the draft notification are outlined below. Life Insurer Qualifications Life insurers may apply for permission to exceed 49% foreign shareholding or have a majority of foreign directors if: They operate a business that may cause harm to insured parties or the public and either (1) the OIC has directed the company to improve its status or adjust its capital, or (2) the company\u2019s actions may have a significant impact on the insurance industry, causing significant compensation burdens and affecting the company\u2019s capital adequacy ratio (CAR); Their shareholders are unable to increase capital; and They are unable to attract Thai investors to increase the capital necessary to"}