Thailand's SCB and FWD strike $3bn insurance unit deal

Pedro Gonçalves
clock • 2 min read

Siam Commercial Bank (SCB), Thailand's largest lender by assets, has agreed to sell its life insurance business to Hong Kong-based FWD Group Financial Services for $3bn in Southeast Asia's biggest insurance M&A deal. Under the agreement, SCB will distribute FWD's life insurance products to the its customers in Thailand, leveraging the bank's distribution channels for a period of 15 years. SCB's chief executive Arthid Nanthawithaya said during the signing ceremony in Bangkok  that the de...

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