Prudential Plc (PRU), the U.K.’s biggest insurer by market value, will buy the life insurance business of Thanachart Bank Pcl, which is part-owned by Canada’s Bank of Nova Scotia (BNS), for as much as 368 million pounds ($590 million).

Prudential will pay Bangkok-based Thanachart 358 million pounds in cash when the transaction is completed and a further 10 million pounds 12 months later, the London-based insurer said in a statement through the Singapore stock exchange. The transaction is subject to regulatory approval and is expected to close in the first quarter of 2013, the company said.

via Prudential to Buy Thai Insurer for Up to 368 Million Pounds – Businessweek.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Proposed Amendments to Thailand’s Public Limited Companies Act

The proposed amendments aim to improve the efficiency of and bring consistency to Thailand’s corporate system and procedures that were impacted by the pandemic, as borders were closed and logistics disrupted, leading to the loss in competitiveness for local businesses.

Thailand’s liveability ranking sinks amidst Covid-19 restrictions and environmental concerns

Thai cities have fallen out of the global top 100 most liveable locations for expatriate workers from East Asia, with Bangkok and Chiang Mai placed at 115th and 118th in the latest Location Ratings survey respectively

How hyper-networked supply chains can benefit retailers

According to research firm Statista, 19.6% of worldwide retail sales were online in 2021, up from 13.8% in 2019, with 24.6% of worldwide retail sales anticipated to be online in 2025.