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Business deals

Hong Kong group FWD buys Thai bank Siam's insurance business

Battle for Southeast Asia life insurance market intensifies with $3bn deal

A Siam Commercial Bank branch in Bangkok: The Thai lender's network offers Hong Kong-based FWD Group a base to expand its insurance business.   © Reuters
APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer | Thailand

BANGKOK -- Siam Commercial Bank, Thailand's largest lender by assets, has agreed to sell its life insurance business to a Hong Kong-based FWD Group Financial Services after nearly four months of negotiations.

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