TOKYO — Japanese trading house Itochu will acquire a 20% stake in Thai non-life insurer Thaivivat Insurance, a deal that highlights the global investor’s interest in the Southeast Asian country’s growing insurance market.
Itochu will invest around 1 billion baht ($29 million) to buy new shares issued by the Thai company, according to an announcement Thursday. It said there are still fewer customers willing to buy insurance compared to developed nations, creating potential for future market growth.
