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ACE Limited and a local partner have reached a conditional agreement to purchase a 60.9 percent stake in The Siam Commercial Samaggi Insurance PCL, a general insurance company in Thailand, from Siam Commercial Bank.

Established in 1947 and listed on the Stock Exchange of Thailand, Bangkok-based Siam Commercial Samaggi Insurance is a writer of auto, small commercial, and personal accident insurance and distributes its products through both Siam Commercial Bank’s branches and independent agents through the insurer’s own branch network.

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