AIA buys ING’s Malaysian insurance business for $1.7 billion

If approved, the deal will make AIA the biggest insurer in Malaysia, doubling the size of its business in the country.

AIA buys ING’s Malaysian insurance business for $1.7 billion

AIA has become Malaysia’s biggest insurer after paying 1.33 billion $1.73 billion for ING’s insurance operations in the country.

The pan-Asian insurer announced the acquisition on the same day as its third-quarter results, which showed a 22% increase in new business to a record $300 million.

ING Insurance is the third-biggest provider in Malaysia, with more than 1.6 million customers across a range of different products, including life, general and employee...

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