FWD to sell bancassurance contract with Thailand's TMB Bank to Prudential unit

(Reuters) - Hong-Kong based insurer FWD Group said on Thursday that it would sell a contract for its bancassurance products with Thailand's TMB Bank to Prudential PLC's life assurance arm in Thailand for 20 billion baht (532.56 million pounds).Under the agreement, the transition period begins April 1, with the remaining term of FWD's bancassurance contract entirely transferred to Prudential Thailand on Dec. 31, 2020.In mid-2017, FWD and TMB Bank renewed the arrangement to sell the FWD product..