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Affin’s shares up on news of potential sale of general insurance business | Malay Mail

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Affin’s shares up on news of potential sale of general insurance business

06 September 2019

KUALA LUMPUR, Sept 6 — Shares of Affin Bank Bhd on Bursa Malaysia rose in early trading session today after the bank and French insurer AXA SA are reportedly mulling options including a potential sale of their life and general insurance business in Malaysia for about US$650 million .

“Affin and AXA could be joining owners of AmGeneral Insurance Bhd, as well as other foreign players including Prudential Plc and Zurich Insurance Group AG, in seeking to pare stakes in their Malaysian units, following the government’s decision to enforce ownership cap more strictly,” it said. — Bernama

 

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