Bangkok: Thai Life Insurance Public Company Limited has launched an investigation following allegations that a top-level agent defrauded clients of over 128 million baht.
According to Thai News Agency, the Office of the Insurance Commission (OIC) has already revoked the agent’s license, and victims are demanding full compensation from the company.
The investigation initiated by Thai Life Insurance revealed that the agent, Ms. Chanket, deceived policyholders into transferring funds intended for premium payments to her own accounts. The company has terminated her status as of October 3, 2025, and is pursuing legal actions against her and her accomplices for embezzlement and related offenses. An arrest warrant is being considered due to her failure to comply with the summons.
Thai Life Insurance has communicated the details of this case to the OIC, which has led to the revocation of Ms. Chanket’s license. The company is also considering taking responsibility for damages in cases with sufficient evidence, while establishing a legal team to support affected policyholders in filing lawsuits against the agent.
The investigation also uncovered irregularities involving some complainants, who were either agents under Ms. Chanket or individuals close to her, indicating possible complicity. Discrepancies in payment methods and transactions have further complicated the case, prompting the company to enhance its policies to prevent future fraud.
The victims of the fraud are demanding that Thai Life Insurance take full responsibility and provide compensation. The OIC has confirmed that it had investigated the matter before it became public, revealing that the fraud involved promises of discounts or gold in exchange for advance premium payments, with the agent failing to transfer these to the company.
Mr. Chuchat Pramoonphol, Secretary-General of the OIC, has directed legal teams to gather evidence for prosecuting Ms. Chanket under relevant sections of the Life Insurance Act. Additionally, the OIC has instructed the company to evaluate its internal controls and implement preventative measures to avoid similar incidents in the future.