Thai Reinsurance PCL unit Thaire Services Co. Ltd. sold its 30% stake in Per Asia Co. Ltd. due to the underperformance of the company's results.

Thaire Services sold the Per Asia stake to Per SpA for 32,541 baht or 1 baht per share Nov. 24.

As of Dec. 14, US$1 was equivalent to 35.59 Thai baht.