PETALING JAYA: AEON Credit Service (M) Bhd has obtained Bank Negara’s approval to acquire a 100% stake in insurance and takaful broking company, Insurepro Sdn Bhd, for a purchase consideration of up to RM1.7mil.

       In a statement, AEON Credit said the acquisition would allow the company to grow its insurance business, which currently contributes less than 5% of its total income. The acquisition is expected to be completed by the end of October 2021.

       The company said it plans to offer insurance products from multiple insurers and takaful operators through Insurepro.