Saha Life gets new chairman.

(From The Nation (Thailand))

Byline: The Nation.

Commerce Ministry sends official to manage firm until partner can be found

The Commerce Ministry yesterday appointed a board member to save cash-strapped Saha Life Insurance after it failed to maintain its regulatory reserve.

Deputy permanent secretary Yangyong Phuangrach will chair Saha's board of directors, which includes Insurance Department director-general Chantra Purnariksha.

The department has fined Saha, owned by thousands of cooperatives nationwide, six times since September 1, 2005, because its reserve fell below the level required by the department.

The insurer …