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Author Topic: OIC to maintain strict dividend measures  (Read 32 times)
saku98
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« on: September 16, 2020, 09:01:03 AM »

The Office of Insurance Commission (OIC) insists that it will continue its strict dividend payment measures for insurance firms until next year to ensure their financial health amid uncertainty regarding the global and domestic economies and Covid-19 vaccine development.

OIC secretary-general Suthiphon Thaveechaiyagarn said the strict policy was requested by the OIC's board to make sure cash outflow from dividend payments would not impact insurance companies' capital adequacy ratio (CAR) or their financial situation during the uncertain market conditions caused by the pandemic.

Normally the dividend payments of insurance companies must be approved by the OIC.

The Bank of Thailand earlier ordered banks not to pay interim dividends and not to repurchase shares to strengthen capital adequacy, as higher liquidity can provide a cushion for economic uncertainty.

Stronger capital gives banks a higher capacity to provide loans when the economy enters recovery.

The OIC approved dividend payments on Sept 14 for cases in which such payments would not affect the CAR.

Mr Suthiphon said there is a higher bar to clear since the pandemic started. แทงบอล168


 
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