A major Italian insurer is eyeing a stake in Malaysia's Multi-Purpose Insurans Bhd. and is in talks with the latter's parent MPHB Capital Bhd. Group, Malaysian daily The Star reported citing sources.
The Italian insurer, which was not named in the article, is currently looking at the viability of the purchase a 40% to 50% stake, sources said. MPHB has said the planned move is in line with its plans to expand MPIB's general insurance business and enable it to underwrite more products.