Insurance company struggling with COVID 19 compensation claims still operating

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Insurance company struggling with COVID 19 compensation claims still operating

A major insurance company struggling with massive losses over COVID 19 compensations clarified today that it is still operating as usual, despite widespread concern among its clients, but insisted that its recent decision to stop trading and return its license is the best option under which all the insured will get their entitlements.

Southeast Life Insurance Company's clarification letter was issued after Thailand's Office of the Insurance Commission OIC said the company is not yet legally dissolved, because it needs to obtain a permission first and meet various conditions.

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