Thailand’s Siam in talks to sell its insurance unit to HK's FWD for $3 bln

03/22/2019 7:20:00 PM (GMT)

Thai lender Siam Commercial Bank PCL (SCB) intends to divest its life insurance business, SCB Life Assurance, to Hong Kong (HK)-based insurance company FWD Group.

Siam said that the memorandum of understanding for the potential collaboration in life insurance also involves a long-term product distribution pact.

SCB and FWD are in exclusive negotiations once again to complete the terms and agreements.

Two years ago, SCB and FWD held discussions about a potential $3 billion sale of SCB Life Assurance.

FWD Group

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