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Global insurers eye 49% stake in Thailand’s SCB Life Assurance

( June 1, 2016, 04:34 GMT | Insight) -- AIA Group, Britain’s Prudential, Switzerland’s ACE Group and Canada’s Manulife Financial Corp are among several insurers considering bids for a minimum 49 percent stake in SCB Life Assurance, the $3 billion insurance unit of Siam Commercial Bank, Thailand’s third largest lender, The Nation reports. AIA Group, Britain’s Prudential, Switzerland’s ACE Group and Canada’s Manulife Financial Corp are among several insurers considering bids for a minimum 49 percent stake in SCB Life Assurance, the $3 billion insurance unit of Siam Commercial Bank, Thailand’s third largest lender, The Nation reports. Siam Commercial Bank is now consulting with Morgan Stanley and Credit Suisse on the sale process and conducting preliminary discussions with potential bidders. The sale process is expected to launch in Q3 2016 and the resulting deal promises to be one of Southeast Asia’s largest-ever insurance transactions.   ...

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