- Founded in 1951, now a key player in Thailand’s non-life insurance sector
- Backed by state and corporate shareholders, with innovation in risk management services
Corporate evolution and strategic foundations
Founded on 9 November 1951 by Field Marshal Sarit Dhanarajata, Dhipaya Insurance Public Company Limited began its operations with an initial capital of THB 2 million. The company quickly drew institutional interest, and by 1964, the Thai Ministry of Finance became its largest shareholder. In 1975, with a further equity acquisition from Field Marshal Prapas Charusatiara, Dhipaya was designated a state enterprise. Over the decades, Dhipaya transitioned from a government-backed insurer to a publicly listed company on the Stock Exchange of Thailand (SET) in 1996.
Headquartered in Bangkok, the company operates with a vision to provide secure and accessible non-life insurance services. Its expansive portfolio includes motor, fire, marine, and miscellaneous insurance policies. The firm is also known for its early adoption of digital and integrated service channels, such as the Dhipaya Service Center (DSC) and the Claims Photo Center, facilitating faster and more transparent claims processing.
With a current workforce exceeding 1,100 employees and a reputation for service consistency, Dhipaya has carved out a resilient position within Thailand’s dynamic financial services sector.
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Financial stability and growth-oriented restructuring
As of 2024, Dhipaya Insurance recorded a gross premium income of approximately THB 15.2 billion and a net profit of THB 1.52 billion, maintaining a robust market position. The company’s major shareholders include PTT Public Company Limited (13.46%), the Government of Thailand (11.31%), Krungthai Panich Insurance (10%), and Krung Thai Bank (10%). Such institutional backing reinforces market confidence and operational stability.
In 2020, the firm restructured under Dhipaya Group Holdings Public Company Limited (TIPH), a move designed to separate core insurance activities from strategic investment operations. This structural change allows the group to pursue faster, innovation-driven expansion across both digital and traditional channels.
Dhipaya maintains an A- (Excellent) credit rating from AM Best, reflecting strong balance sheet metrics, prudent risk management, and stable underwriting performance. Through TIPH, the group is also exploring adjacent markets, signalling its preparedness for cross-sector synergies and long-term shareholder value creation.
Dhipaya’s trajectory shows a blend of conservative fiscal governance and forward-thinking service innovation—a hallmark for insurers navigating Southeast Asia’s increasingly complex risk environment.
