ACE Limited has announced that the company and its local partner have acquired, through a mandatory tender offer, an additional 32.17 percent in The Siam Commercial Samaggi Insurance PCL (SCSMG), a major general insurance company in Thailand.
ACE and its local partner now own 93.03 percent in SCSMG, including a 60.86 percent stake acquired from The Siam Commercial Bank PCL on April 28, 2014.
ACE Group is one of the world’s largest multiline property/casualty insurers. With operations in 54 countries, ACE provides commercial and personal P/C insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients.
Source: ACE Limited