b'Mergers & AcquisitionsBancassuranceThe bancassurance sector in Asia was particularly active in emerging markets in Southeast Asia throughout 2020. Some notable transactions in 2020 include: Indonesia: FWD entered into a 15-year bancassurance partnership with Commonwealth Bank of Australias Indonesian banking business, Bank Commonwealth, in connection with its acquisition of PT Commonwealth Life. FWD also entered into a 15-year bancassurance partnership with Bank Rakyat Indonesia in connection with its minority investment in BRI Life.Myanmar: In August 2020, Capital Taiyo Life Insurance and Myanmar Citizens Bank (MCB) announced an agreement to provide bancassurance products through MCBs network of branches. The agreement reportedly covers the sale, distribution, promotion and marketing of Capital Taiyo Life Insurances life insurance products to MCBs customers.Thailand: In March 2020, FWD agreed to sell its bancassurance contract with TMB Bank Public Limited to Prudential Life Assurance (Thailand) Public Company Limited, the Thai business of the UKs Prudential. The transaction involves consideration of approximately $630 million and a nine-month transition period. Reportedly, the initial term for the partner-ship is 15 years. Vietnam: In January 2020, the UKs Prudential and SeABank entered into a 20-year exclusive bancassurance agreement that became effective in April 2020. The transaction is intended to provide consumers with a range of life insurance solutions delivered via a suite of digital tools. As part of the transaction, Prudential will also become the preferred life insurance provider to BRG Group, a large Vietnamese conglomerate and affiliate of SeABank.Vietnam: In April 2020, FWD entered into an exclusive 15-year bancassurance partnership with Joint Stock Commercial Bank for Foreign Trade of Vietnam in connection with FWDs acquisition of Vietcombank-Cardif Life Insurance. gMAYER BROWN 29'