Pru in Thai life assurance partnership

Insurance goliath Prudential has entered into a long-term exclusive bancassurance partnership in Thailand with Thai firm Thanachart Bank.

Insurance goliath Prudential has entered into a long-term exclusive bancassurance partnership in Thailand with Thai firm Thanachart Bank.

The deal between the two involves the Pru buying the Thanachart Life Assurance Company from Thanachart, the fifth larges retail bank in Thailand, for £358m in cash. A further £10m is to be stumped up 12 months after the acquisition completes, subject to a post-completion agreement once the net asset value of the acquired business has been determined.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.