Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Thanachart Weighing Options on Insurance Business, Somjate Says

April 18 (Bloomberg) -- Thanachart Bank Pcl, a unit of Thailand’s Thanachart Capital Pcl, is still considering options for the sale of its insurance businesses, President and Chief Executive Officer Somjate Moosirilert said.

The bank, partly owned by Canada’s Bank of Nova Scotia, is in talks with a number of investors, Somjate told reporters in Bangkok today. It’s still deciding whether to keep, sell or find partners for its insurance businesses, he said.

Thanachart Bank has three insurance units -- Thanachart Insurance Co., Thanachart Life Assurance Co. and Siam City Life Assurance Co., which it acquired during the merger with Siam City Bank Pcl.

The lender hired Citigroup to sell its insurance businesses for about $500 million, Reuters reported on March 16, citing unidentified people familiar with the matter.

To contact the reporter on this story: Suttinee Yuvejwattana in Bangkok at suttinee1@bloomberg.net.

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.