Slaughter and May advised FWD on its agreement with TMB to sell its Thai bancassurance contract to Prudential
Slaughter and May advised FWD on its agreement with TMB Bank Public Company Limited to sell its bancassurance contract to Prudential for a consideration of THB20 billion (US$630 million). The agreement was signed and announced on 19 March.
The sale follows FWD’s recent acquisition of SCB Life, the largest ever life insurance transaction in Southeast Asia. Concurrently, Siam Commercial Bank Public Company Limited (SCB) and FWD commenced a 15-year bancassurance partnership in Thailand.