Bangkok: Viriyah Insurance Public Company Limited has announced ambitious plans to achieve a premium income of 44 billion baht by 2026. Despite various risk factors, the company anticipates surpassing its 2025 target of 42 billion baht, marking a 5% growth. The new target for 2026 reflects a further 4% increase, as Viriyah Insurance continues to enhance its technological and human resource capabilities to improve services across the board.
According to Thai News Agency, Mr. Amorn Thongthiw, Managing Director of Viriyah Insurance, outlined the economic challenges faced by Thailand in 2025, including a significant earthquake in Myanmar that affected Bangkok and intensified floods in the southern region, particularly in Hat Yai district, Songkhla province. Despite these challenges, Viriyah Insurance maintained its leadership in the non-life insurance market for the 34th consecutive year, securing a market share of 14.64%. The company projected a total direct premium income of 42,923 million baht for the fiscal year 2025, with motor insurance premiums accounting for 37,654 million baht and non-motor insurance premiums for 5,269 million baht. The company's financial stability is underscored by its assets totaling 68,166 million baht and a Capital Adequacy Ratio (CAR) of 357.21%, exceeding legal standards.
Mr. Amorn further detailed the company's sales targets for 2026, aiming for a total direct premium income of 44,646 million baht, representing approximately 4% growth. This includes 38,865 million baht from motor insurance, a 3% growth, and 5,780 million baht from non-motor insurance, a 9.7% growth.
Viriyah Insurance's operational plan for the year focuses on enhancing service quality to better meet customer and partner needs. This involves technology development for insurance systems, claims processing, and data connectivity, enabling faster, more accurate services accessible anytime and anywhere. The company plans to enhance its One-Stop Service approach, offering customer support through a hotline and online self-service options via LINE Official for convenient access to services. Additionally, the company aims to ensure quality in claims processing, accident investigation, and repair work, adhering to specified timeframes to maximize customer satisfaction.
The company is also committed to improving work process efficiency and applying innovation for service optimization. This includes upgrading systems for increased speed and security, such as the E-Agency system supporting agents' work, V-Inspection for AI-powered vehicle inspection before insurance purchase, VClaim on VCall for swift online claims appointments via video call, and developing a Fast Track Claim service for medical expenses and income compensation for hospitalization.