August 27, 2016 11:35 AM ET

Insurance

Company Overview of SCBLIFE Assurance Public Company Limited

Company Overview

SCB Life Assurance Public Company Limited underwrites life insurance products in Thailand. The company also provides bancassurance. The company was formerly known as Siam Commercial New York Life Insurance Public Co. Ltd. and changed its name to SCB Life Assurance Public Company Limited in May 2011. SCB Life Assurance Public Company Limited is headquartered in Bangkok, Thailand. SCB Life Assurance Public Company Limited operates as a subsidiary of The Siam Commercial Bank Public Company Limited.

1060 Phetchaburi Tat Mai Road

Makkasan

Ratchathewi

Bangkok,  10400

Thailand

Fax:

66 2 256 1742

Key Executives for SCBLIFE Assurance Public Company Limited

Acting Managing Director, Chief Financial Officer, Chairman of Investment Committee and Chairman of Risk Management Committee
Executive Vice President of Life Insurance Administration Group and Member of Risk Management Committee
Executive Vice President of Information Technology Group and Member of Risk Management Committee
Executive Vice President of SCB Business Group
Company Secretary
Age: 54
Compensation as of Fiscal Year 2016.

SCBLIFE Assurance Public Company Limited Key Developments

Siam Commercial Bank Seeks To Sell 49% Stake

The Siam Commercial Bank Public Company Limited (SET : SCB) stated that it is looking to sell at least 49% stake in SCB Life. ACE Global Markets Limited and Manulife Financial Corp also interested in a stake in the company. Thai bank is in talks with Morgan Stanley and Credit Suisse regarding the sales process.

AIA and Prudential Reportedly Seeks Acquisition

AIA Group Limited (SEHK:1299) and Prudential PLC (LSE:PRU) are among insurers considering bids to buy at least 49% stake in SCB Life Assurance Public Company Limited of The Siam Commercial Bank Public Company Limited (SET:SCB).

SCB Seeks To Sell Its Insurance Unit

The Siam Commercial Bank Public Company Limited (SET:SCB) is close to hiring Morgan Stanley to advise on a potential sale of a significant stake in its life insurance unit, people familiar with the matter said. Some bankers and analysts say that the entire SCB business - SCBLIFE Assurance Public Company Limited- could fetch around $2 billion, based on a multiple of 2-2.5 times its embedded value of more than 30.42 billion baht ($865 million) at the end of 2013. SCB's Chief Executive Officer Arthid Nanthawithaya declined to comment when contacted by Reuters via text message. Morgan Stanley declined to comment.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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