Magazine date:
Feb 2014 ACE announces having signed an agreement for the acquisition of 60.9% of non-life insurer Siam Commercial Samaggi Insurance (SCSI), specializing in underwriting personal line and SMEs, SMIs risks.
Set up in 1947, SCSI has posted a turnover of 138 million USD in 2012. The transaction, which amounts to 185 million USD, is subject to SCSI’s shareholders’ approval. In the meantime, ACE is committed to making a bid for the remaining 39.1% of the capital.