Allianz eyes takaful takeover

Allianz eyes takaful takeover | Insurance Business

Allianz eyes takaful takeover
Allianz Malaysia Bhd will reportedly begin negotiations to acquire up to 100% equity interest in HSBC Amanah Takaful (M) Bhd.

In a filing to the stock exchange last week, the Malaysian subsidiary of the German giant said Bank Negara Malaysia, the country’s central bank,) had no objection in principle for Allianz to begin negotiations on the acquisition, The Sun Daily reports.

Set up in 2006, HSBC Amanah Takaful (M) Bhd is split between HSBC Insurance (48% stake), JAB Capital (31%) and the Employers Provident Fund Board (20%), and the deal will be subject to all parties concluding negotiations within 6 months, The Star reported.

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