If the deal were to fall through, SCB could consider new bidders for its SCB Life Assurance Plc, the people told Reuters. Southeast Asia has emerged as a battleground for foreign insurers attracted by the region's lower insurance penetration levels and faster growth rates for life insurance premiums than in their home markets. Aaron Pan, a spokesman for FWD Group in Hong Kong, declined to comment on "market rumour or speculation", while a spokeswoman at SCB had no immediate comment. In its most recent Asian deal, FWD agreed in November to buy American International Group Inc's Japan life insurance business AIG Fuji Life Insurance Company Ltd for an undisclosed sum. SCB Life Assurance is among the top insurers in Thailand.

Source: Bangkok Post April 19, 2017 09:33 UTC