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30 May 2019, Natalia Yanakieva, Head of Industry Research, EMIS

Allianz buys 19.21% of Thai Sri Ayudhya Capital for USD 95mn

Germany’s Allianz has acquired a 19.21% stake in Thai insurer Sri Ayudhya Capital for USD 95mn, thus becoming its largest shareholder.

Following the deal, Sri Ayudhya Capital will be renamed to Allianz Ayudhya Capital and the company’s arm Sri Ayudhya General Insurance (SAGI) will be renamed to Allianz Ayudhya General Insurance, an Asian news media report said.

Allianz Ayudhya said it targets a 10% increase of gross written premiums for non-life insurance business in 2019, which would outpace the sector's growth outlook of 6%.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: The Bangkok Post

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