In an unstable economy and unpredictable natural disasters, "confidence" has become the key factor that allows Viriyah Insurance to remain strongly resilient, as evidenced by its outstanding performance in 2025 that surpassed targets, even though the country's GDP grew by 2.4% and the overall insurance industry expanded only 2-3%.
The company achieved total gross premiums of 42,923 million baht, growing 5%, compared with the insurance industry's 2-3% growth.
This comprises motor insurance premiums of 37,654 million baht and a notably rapid growth of 17.09% or 5,269 million baht in non-motor insurance.
As a result, the company has maintained the number one market share for 34 consecutive years with 14.6% share, and has been the top motor insurance provider for 39 consecutive years, holding 23% market share.
Financially, it remains highly stable with total assets of 68,166 million baht, reserves of 34,000 million baht, and a capital adequacy ratio (CAR) of 357.21%, well above the legal minimum requirements.
Amorn Thongthiu, Managing Director of Viriyah Insurance Public Company Limited, revealed that for sales targets in 2026, the company aims for direct gross premiums totaling 44,646 million baht, about 4% growth. Motor insurance is targeted at 38,865 million baht, a 3% increase, and Non-Motor at 5,780 million baht, growing 9.7%.
Regarding the electric vehicle (EV) market, Viriyah currently holds the number one market share with premiums exceeding 2,800 million baht, accounting for 40% of the market, despite historically experiencing about a 10% loss ratio from claims.
However, the company continues selling EV insurance by applying strategies to adjust premiums and coverage conditions appropriately by model and brand risk to ensure long-term portfolio sustainability.
In the current mainstream EV market, Viriyah acknowledges specific challenges, especially regarding spare parts pricing structures and labor costs differing by brand. Currently, EV insurance premiums remain about 20% higher than combustion engine vehicles, and adjustments continue to align premiums with actual risks.
Additionally, the company monitors the risk of "insurance fraud" that may arise from rapid price drops in new EVs below the insured value, potentially encouraging fraudsters. Therefore, the company emphasizes fair and thorough claims assessment.
For this year’s operational plan, the company focuses on elevating service quality to comprehensively meet customer and partner needs, including developing technology to support underwriting, claims processing, and faster, more accurate data integration with partners accessible anytime, anywhere.
Also, enhancing services under the One Stop Service approach, covering all service aspects such as customer contact centers via hotline 1557, online self-service through LINE Official, enabling convenient, comprehensive customer access, alongside strict quality control of claims, accident inspections, and repair standards within set timeframes to maximize customer satisfaction.
The company is focusing on increasing work process efficiency and applying innovations to maximize service effectiveness, such as improving systems for greater speed and security, including the E-Agency program supporting agents, V-Inspection—AI-powered vehicle condition checks before insurance, and VClaim on VCall—an online claims appointment service via video call covering all provinces.
Plans also include developing Fast Track Claim for medical and hospital income compensation (under specific conditions), and enhancing online repair notifications and operational agility for 1,400 accident inspectors stationed at claims operation centers nationwide.
Furthermore, the company continues driving its Data-Driven strategy by analyzing customer behavior, needs, and risks to develop insurance products covering both Motor and Non-Motor segments. This year, new insurance products are planned to meet the diverse needs of the public and truly address modern lifestyles.
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