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Japanese Firm Becomes Single Biggest Shareholder of Thai Insurer Ayudhya.
Byline: Charoen Kittikanya
Feb. 7--Takeo Inokuchi, chairman and chief executive officer of Mitsui Sumitomo Insurance (MSI), was a man of his word, when he said in Bangkok last year that the group would actively pursue acquisitions of Thai insurance firms as a part of its corporate strategy to develop new businesses in Asia.
MSI yesterday completed its second deal in 17 days, announcing an agreement to acquire a large share of a Thai non-life insurance firm after it launched a tender to take 10 percent of the country's fifth largest insurer, Bangkok Life Assurance Ltd, for 1.6 billion yen (592.5 million baht) on Jan 21.
MSI, Japan's ...
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