Recommend Us | About Us | Back to

News | Financial Calculator | Home Financing | Archived News |


  Welcome to Bernama Banking & Finance Special Page     
Affin's shares up on news of potential sale of general insurance business
Last update: 06/09/2019

KUALA LUMPUR, Sept 6 -- Shares of Affin Bank Bhd on Bursa Malaysia rose in early trading session today after the bank and French insurer AXA SA are reportedly mulling options including a potential sale of their life and general insurance business in Malaysia for about US$650 million.

As at 11.19 am, the counter rose four sen to RM2.05 with 192,800 shares changing hands.

According to a news report Wednesday, the financial firms are seeking around US$500 million on AXA Affin General Insurance Bhd, while they are looking to raise as much as US$150 million mln from AXA Affin Life Insurance Bhd in a transaction.

“Affin and AXA could be joining owners of AmGeneral Insurance Bhd, as well as other foreign players including Prudential Plc and Zurich Insurance Group AG, in seeking to pare stakes in their Malaysian units, following the government’s decision to enforce ownership cap more strictly,” it said.




Islamic Banking institutions urged to provide training to strengthen SME sector
Govt sets up special committee on Islamic Finance

Bank Muamalat's Mohd Arfaizal emerges champion of BNM's elocution contest

LIAM committed to increasing life insurance penetration rate
Govt likely to revise life insurance penetration rate target

LIAM appoints new president for 2019/2020 term

US 4.1780/1810
S'pore 3.0346/0379
100 Yen3.8621/8659
Euro 4.6000/6037
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Not sure
  Main | News | Insurance

© 2019 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution