Number five life insurer has opened up its capital

Siam Commercial Bank Life Assurance (SCB Life) hired Morgan Stanley and Crédit Suisse to finalize the sale process of the insurance company in due fashion. The opening of capital is due to start officially in the third quarter of 2016. The public insurer, whose value is estimated at 3 billion USD, will make at least 49% of its capital available for sale.

SCB Life is the fifth most important life insurer of the market. It relies on a distribution network made up of 1200 agencies of the bank. AIA Group and Prudential are among interested buyers on the list. Chubb (ex-Ace Group) and Canadian Maunulife Financial Corp are also among potential purchasers.

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