Mitsui Sumitomo Insurance buys more Thai Insurance

Japan''s third largest insurance company acquires a major stake in Ayudhya Insurance of Thailand.

One of the leading cross border investment trends of 2004 is shaping up to be the re-engagement of Japanese capital with the rest of Asia. On Friday last week it was announced that Mitsui Sumitomo Insurance has bought 24.9% of Ayudhya Insurance of Thailand for a total consideration of Bt1.680 billion $43 million.

While not a large transaction, it clearly represents how Japan Inc. is looking to invest in Asia again, having taken fright after the financial crisis. The deal sees Mitsui Sumitomo Insurance becoming an active but not controlling shareholder in Ayudhya, seeking to leverage Ayudhya's distribution capabilities with its own skills in underwriting and risk management. Such...

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