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IAG likely to divest stake in Malaysian insurer: Sources

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Insurance Australia Group Ltd. is likely to divest its 49% stake in Malaysia-based AmGeneral Insurance Berhad and won’t make further investments in Asia in the short term, Reuters reported citing sources. A formal auction process is expected to be launched in early 2018, the sources said. Data from Thomson Reuters showed that mergers and acquisitions in the Asian insurance sector grew to nearly $21 billion so far in 2017 from $15.5 billion in 2016.

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