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AMMB sells stake in AmGeneral Insurance to Liberty Insurance

The Star Business LogoThe Star Business1 mo ago

AMMB sells stake in AmGeneral Insurance to Liberty Insurance

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KUALA LUMPUR: AMMB Holdings Bhd’s (AMMB) 51 per cent-owned subsidiary, AmGeneral Holdings Bhd (AGHB) has entered into a sale and purchase agreement (SPA) with Liberty Insurance Bhd (LIB), for the sale of its wholly-owned subsidiary, AmGeneral Insurance Bhd (AGIB).

"As a result of this sale and the subsequent merger of operations, we will be able to leverage our complementary strengths to drive accelerated growth in the local insurance market, and together, we look to become Malaysia’s largest motor insurer and leading property and casualty insurer,” he said.

The operations of AGIB and LIB will be formally merged at a subsequent date, which will be announced in due course.


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Article Details

Author / Journalist: The Star Online

Category: Economy

Topics: AMMB /Business/Business News AmGeneral Insurance Bhd Liberty Insurance Insurance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 20:08:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 2 minutes read

Article Length: 284 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 25029

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About The Star Business

The Star Business Logo

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 36 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 10h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

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