Allianz buys 19% stake in Thailand’s Sri Ayudhya Capital for $95m

German insurer and asset manager Allianz SE has completed the acquisition of a 19.21 per cent stake in Thailand’s Sri Ayudhya Capital (AYUD) to become its largest shareholder.

On Tuesday, AYUD informed the Stock Exchange of Thailand that Allianz had made a tender offer to buy 56.93 million shares at 53.32 baht each, totalling 3.04 billion baht ($95 million).

As part of the deal, AYUD will be renamed Allianz Ayudhya Capital Pcl and its subsidiary Sri Ayudhya General Insurance will be renamed Allianz Ayudhya General Insurance Pcl.

“The closer relationship between both businesses will increase collaboration and expertise, and deliver an improved customer proposition in the country.  These moves reflect the strategic efforts we are making across Asia and we look ahead with confidence,” Allianz Asia Pacific’s deputy regional CEO Solmaz Altin said in a statement.

Under the new structure, Bryan Smith has been appointed as the President and CEO of Allianz Ayudhya Capital and Country Manager of Allianz Thailand, overseeing the overall business in Thailand. He also remains President and CEO of Allianz Ayudhya Assurance while Lars Heibutzki has been named the President and CEO of Allianz Ayudhya General Insurance.

“The expanded partnership is a huge win for local customers and secures Allianz’s future growth in Thailand.  We are now in a stronger position to deliver more comprehensive protection solutions under the Allianz Ayudhya banner.  Today is a game changer for local customers and the insurance sector in Thailand,” said Smith.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.