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International

Zurich Insurance moves into takaful with acquisition of MAA Takaful

April 28, 2016 Reprints

Zurich Insurance Group A.G. is set to move into the takaful sector after the acquisition of Malaysia's MAA Takaful Bhd., reported Reuters.

Malaysia's central bank has approved the sale of MAA Takaful to Zurich. MAA Takaful is a joint venture between MAA Group Bhd. and Bahrain's Solidarity Group Holding B.S.C., which hold 75% and 25% stakes respectively. Moving towards takaful could allow Zurich for greater penetration in core markets in the Gulf and Southeast Asia.

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Zurich Insurance moves into takaful with acquisition of MAA Takaful

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