Slaughter and May advised FWD Group on its acquisition of SCB Life Assurance from Thailand’s largest lender, Siam Commercial Bank, for 92.7 billion Thai baht (US$3 billion).
The deal was announced on 1 July 2019, and is the largest insurance M&A deal in South East Asia. Under the related bancassurance arrangements, SCB will distribute FWD’s life insurance products to the bank’s customers in Thailand, leveraging the bank’s distribution channels for a period of 15 years.
SCB Life Assurance offers insurance services. The Company provides life insurance services for individual and group and markets it through agents, banks, and over the telephone. SCB Life Assurance serves clients in Thailand.
FWD Group provides life and general insurance products and services. The Company offers employee benefits, pension, and financial planning services.
Slaughter and May supported FWD’s internal deal team on the transaction with Partner Chris McGaffin (Picture), Ben Heron (associate), Esther Yee (associate), Luke Rowland (associate) and Adrienne Yeung (associate).
Law Firms: Slaughter and May;
Clients: FWD Limited;