AXA buys into Malaysia's insurance market

AXA Asia Pacific and its Malaysian partner purchase Tahan Insurance for M$121 million.

In an attempt to tap into Malaysia's $4.2 billion life insurance market, AXA Asia Pacific and its joint venture partner AFFIN Holdings Berhad AHB will pay M$121 million $32 million for Tahan Insurance.

Discussions for the purchase of Tahan began back in August and a joint venture agreement with AHB was put forward as a vehicle for making the acquisition. AXA Asia Pacific will own 49.999% of the JV while AHB will hold just over half...

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