Siam Commercial in exclusive talks with FWD for US$3b insurance deal: sources
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Hong Kong
SIAM Commercial Bank (SCB) has entered into exclusive talks with Hong Kong insurer FWD Group to sell its life insurance arm, which could raise US$3 billion for Thailand's third-biggest lender, people with direct knowledge of the matter said.
A successful deal would rank as the largest insurance M&A transaction in South-east Asia, and the biggest in Asia since the merger of two insurance companies in India valued at US$3.2 billion in August 2016, according to Thomson Reuters data.
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