William Courtauld, CEO Asia, Fortis International

On May 10, Maybank and Fortis announced that they had entered negotiations to form a strategic partnership in bancassurance. Under the terms of the agreement, Fortis will purchase a 30% stake in Maybank's insurance businesses. The two hope that a tie-up between Malaysia's largest financial services group and the largest provider of bancassurance in the Benelux countries will prove a winning partnership against more established rivals in Malaysia's nascent insurance market.