Siam Commercial Bank to sell insurance unit to FWD for $3b

Siam Commercial Bank CEO Arthid Nanthawithaya. Photographer: Brent Lewin/Bloomberg

Thailand’s largest lender by assets, Siam Commercial Bank Pcl (SCB), is selling its life assurance business to Hong Kong-based insurer FWD Group for 92.7 billion baht (2.39 billion pounds), marking the largest insurance M&A deal in Southeast Asia.

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