A landmark year for Lockton Wattana Thailand’s Power Portfolio
The 2024-25 fiscal year saw Lockton Wattana Thailand deepen its presence in Southeast Asia’s rapidly evolving power sector. Guided by our Major Account Team’s strategic focus and technical expertise, we secured two flagship placements that underscore our ability to deliver value in complex energy projects.
Lockton Wattana Thailand was appointed midterm to support the 1,285MW Xayaburi Hydropower Project — Laos’ largest runoff river facility and a cornerstone asset of CK Power (CKP) Group. Our partnership with CKP began in 2010, when the company embarked on its first combined cycle power plant in Thailand. Since then, we have remained a trusted adviser across the group’s growing energy portfolio, including Laos’ 615MW Nam Ngum II Hydropower Project, which we placed in 2022. Securing Xayaburi reflects the continued confidence CKP places in our ability to craft robust, cost-effective insurance structures for critical renewable infrastructure.
We also expanded our footprint in Thailand’s onshore renewable market through our partnership with Wind Energy Holding (WEH). WEH operates eight wind farms —primarily located in the northeastern provinces of Chaiyaphum and Nakhon Ratchasima — housing a combined total of 270 turbines. By tailoring coverage that reflects both local regulatory nuances and global best practices, we helped ensure uninterrupted operations and long-term financial resilience for one of the region’s most important renewable energy investors.
Together, Xayaburi Hydropower and WEH’s wind portfolio have significantly contributed to our revenue growth over the last 12 months. These placements highlight our capability to deliver responsive service on projects that demand intricate risk engineering, layered reinsurance, and proactive claims advocacy. Being brought in midterm demonstrates the market’s recognition of our capacity to add value swiftly, align coverage parameters with lenders’ covenants and project finance requirements, and mitigate unforeseen exposures.
Looking ahead, our Power Team remains committed to expanding our reach across Thailand, Laos, and neighboring markets. We will continue leveraging deep sector insights, strong carrier relationships, and data driven analytics to design programmes that meet the increasing demand for renewable and conventional power alike. In parallel, we will invest in our people — enhancing technical training and knowledge sharing to help us anticipate emerging risks, such as cyber vulnerabilities and evolving climate perils.
As we move into the next fiscal year, Lockton Wattana Thailand stands ready to help clients navigate complexity, unlock growth, and power a more sustainable future for communities across Southeast Asia.
For further information, please contact:
Theerawan Leelapanyachon, Director of Major Accounts
From tremor to recovery: responding to March’s earthquake
On 28 March 2025, an 8.2 magnitude earthquake struck Myanmar. Although the epicentre lay more than a thousand kilometres away from Bangkok, the tremor propagated through deep alluvial soils and midrise sedimentary layers, shaking highrise buildings across the capital and affecting commercial hubs in Chiang Mai, Lampang, and neighbouring provinces. Cracked façades, dislodged ceiling systems, and compromised elevator shafts were reported within minutes. The State Audit Office building, which was under construction, partially collapsed, while several condominium towers issued emergency evacuation notices as a precautionary measure.
Historically, Thai insurers have treated earthquakes as a peripheral peril because the nation sits on the relatively stable Sunda Plate. Therefore, programme sublimits are calibrated far more rigorously for flood risk, rather than seismic risk. Typically, catastrophe reinsurance layers reflect 1in200year flood return periods, rather than earthquake scenarios. When the March tremor struck, policyholders and carriers alike confronted an unfamiliar test of their preparedness. Loss projections were complicated by the dispersed nature of the damage — cosmetic in some assets, structural in others — requiring rapid triage to separate minor repairs from largescale business interruption exposures.
Within the first few hours of the first ground motion alerts, Lockton Wattana Thailand activated our catastrophe response plan. A dedicated claims hotline and secure file upload portal allowed clients to share photographs, structural reports, and sensor data in real time. By nightfall, our risk engineering team had mapped the hardest hit districts and scheduled onsite inspections with prequalified structural specialists.
Over the next ten days we supported more than seven hundred claims, ranging from condo association common area repairs, to complex loss of income submissions for commercial landlords. Field engineers issued preliminary damage certificates within 48 hours of each visit, enabling insurers to release interim payments and helping policyholders secure contractors before supply chains tightened.
While speed built confidence, transparency sustained it. Our analytics team overlaid shake map data with historical vulnerability studies, giving carriers a reliable basis to validate loss estimates. Meanwhile, claims advocates met daily with adjusters to anticipate documentation gaps — ensuring settlements progressed without unnecessary delays. By the end of the first week, 60% of reported losses were either closed or advanced to the payment processing stage — significantly reducing the financial strain on affected businesses and households.
The March earthquake underscored three interwoven realities for Thailand’s insurance ecosystem:
- Low frequency perils cannot be dismissed when soil conditions can amplify distant seismic events.
- Rapid, integrated claims handling can forestall cascading economic losses.
- Regulators should reassess minimum catastrophe reinsurance thresholds to better align capacity with emerging risk.
As climate variability and urban growth reshape the country’s exposure profile, proactive modelling and agile response capabilities will remain essential. Our experience this year reaffirms our commitment to combining global expertise and local agility to help clients navigate uncertainty and build resilience in the face of unexpected shocks.
Strengthening People Solutions with Masii Broker acquisition
Lockton Wattana Thailand is pleased to announce its successful acquisition of Masii Broker — a leading provider of employee benefit solutions. This strategic move aligns with Lockton Wattana Thailand’s commitment to delivering cutting-edge insurance and risk management services. By integrating Masii Broker’s portfolio and expertise, Lockton Wattana Thailand aims to redefine the standards of employee well-being and elevate the scope of its People Solutions Team.
A key element of this acquisition is the enhanced capacity to offer tailored and comprehensive employee benefit solutions. Masii Broker has built a strong reputation for providing innovative packages that address diverse workforce needs in an ever-changing business environment. Absorbing this expertise under Lockton Wattana Thailand’s umbrella can enable clients to fashion robust and flexible programmes that are designed to attract top talent, reduce turnover, and improve overall employee satisfaction. Drawing on Lockton’s global network and extensive local market understanding, these expanded solutions will further empower businesses to navigate evolving regulatory frameworks and economic challenges with greater confidence.
Beyond expanding the breadth of services, this acquisition also marks a strategic alignment in corporate culture and client-centric values. The integration of Masii Broker’s portfolio not only strengthens Lockton Wattana Thailand’s People Solutions Team, but also reinforces its role as a leading insurance broker committed to delivering outstanding client experiences. By pooling resources and leveraging combined insights, Lockton Wattana Thailand will be positioned to offer more tailored support and seamless implementation processes. This includes the ability to address complex coverage needs, streamline administrative tasks, and provide effective risk mitigation strategies that keep pace with an increasingly dynamic market landscape.
Looking ahead, Lockton Wattana Thailand remains focused on enhancing its service offerings and cultivating meaningful partnerships. Ultimately, the acquisition reflects Lockton Wattana Thailand’s unwavering mission to support organisations in nurturing a resilient workforce and securing sustainable growth.