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Generali Asia N.V (“Generali”) and Affin Bank Berhad (“Affin”) has completed the share sale transaction of a majority stake in the AXA Affin joint ventures on 30th Aug 2022. The completion has made Generali the major stakeholder of AXA Affin joint ventures in Malaysia.
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Aug 30, 2022 · Milan – Generali has completed the acquisition of the majority stakes in the AXA-Affin joint ventures in Malaysia, therefore becoming a top-tier General Insurer player in the country, in line with its strategy to strengthen its leadership position in high potential markets.
In 2022, Generali acquired full ownership of the MPI Generali joint venture and purchased a controlling majority in AXA Affin General and Life Insurance in Malaysia.
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In the P&C segment, Generali plans to merge the businesses of MPI Generali with AXA Affin General Insurance. Once the transactions are completed, Generali will hold 70% in both the Life and P&C entities, which will trade under the Generali name. Affin Bank will hold the remaining 30%.
AXA Affin General Insurance Incorporated in Malaysia in 1975, AXA Affin General Insurance Berhad is one of the fastest growing general insurance companies in Malaysia and leader in medical...
Affin Bank Berhad d.b.a. AFFIN BANK ( MYX: 5185) is the Financial Holding Company of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad, Affin Moneybrokers Sdn Bhd, AXA AFFIN Life Insurance Berhad and AXA AFFIN General Insurance Berhad of Affin Bank Berhad.
Jun 22, 2021 · AXA announced today that it has entered into an agreement with MPI Generali to sell its insurance operations in Malaysia, which include its 49.99% shareholding in AXA Affin General Insurance and 49% shareholding in AXA Affin Life Insurance.
