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International

Generali agrees to buy Axa’s Malaysian business

June 23, 2021 Reprints

Italian insurer Assicurazioni Generali SpA has agreed to acquire a 53% stake in insurer Axa SA and Affin Holdings Bhd’s joint insurance and takaful ventures in Malaysia, Asia Insurance Review reported. In addition to its acquisition of Axa Affin General Insurance Bhd and Axa Affin Life Insurance Bhd, Generali is also looking to acquire the remaining shares of MPI Generali Insurans Bhd. The total consideration for all the transactions is approximately 1.3 billion Malaysian ringgits ($311.7 million), subject to closing adjustments.

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Generali agrees to buy Axa’s Malaysian business

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