SCB Life Assurance Public Company Limited

In 2011, the Siam Commercial Bank Public Company Limited acquired all the shares of the company held by New York Life International LLC ("NYLI") and PMCC (Thailand) Company Limited ("PMCC"). This made the Siam Commercial Bank Public Company Limited holds the shares of the Company in the proportion of 94.66 per cent. The Company has changed the name to SCBLIFE Assurance Public Company Limited on 12th May, 2011.

More than 38 years of operation of SCBLIFE Assurance as the "trusted life insurer" among Thai customers, we remain committed to ensure building the financial stability along with developing new policies and services with quality responding to all demands in order to reach the highest satisfaction and the most important part in building the stable financial success for all of our Thai customers

From the operation throughout the period, the Company has stepped forward to play an important role as a leading insurance company of Thailand. In order to increase the efficiency as well as the expansion of the life insurance business, in 2000 the Siam Commercial Bank Public Company Limited and New York Life International Inc. of USA had signed the joint venture agreement in SCBLIFE Assurance Public Company Limited to expand the life insurance business of the Company to grow to the highest international standard and to be the quality leading company by registering to change the Company’s name to Siam Commercial New York Life Insurance Public Company Limited on 9th October, 2000.

Regarding the reserve fund to support business expansion, the Company had raised the capital of over 200 million baht in 2001 and had increased more for another 300 million baht in 2005. This caused the Company to have the registered capital of 800 million baht and paid-up capital amounting to 665 million baht served for future business growth.

SCBLIFE Assurance was incorporated on 24th June, 1976, with the registered capital of 100 million baht in the name of Mahanakorn  Life Insurance Company Limited (In direct translation of Metropolitian Life Insurance Company Limited). Later in 1988, the Siam Commercial Bank Public Company Limited, the Crown Property Bureau, and affiliated companies had jointed holding the majority shares in the Company and had changed the Company’s name to "SCBLIFE Assurance Company Limited" to support the business growth. The Company became a member of the Stock Exchange of Thailand and had raised the registered capital and paid-up capital of 300 million baht. As a result, in 1994, the Company was registered to be transformed to a limited company on 1st March, 1994, in the name of "SCBLIFE Assurance Public Company Limited.””