Allianz buys stake in insurer, gains Thai toehold
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Germany-based Allianz S.E. has purchased a 19% stake in Thailand-based insurer Sri Ayudhya Capital P.C.L. for $95 million to become its largest shareholder, DealStreetAsia reported. Under the deal, Sri Ayudhya will be renamed as Allianz Ayudhya Capital P.C.L. and its unit Sri Ayudhya General Insurance P.C.L. will be renamed as Allianz Ayudhya General Insurance P.C.L. Allianz Ayudhya has appointed Bryan Smith as its president and chief executive.
