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 of the shares. The two companies already have a joint venture covering general insurance in Malaysia.

The new deal will see AFFIN Bank acting as the exclusive distributor of the life...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222