fee income from its bancassurance business, they said.... At this juncture, there is no certainty

fee income from its bancassurance business, they said.... At this juncture, there is no certainty

Bhd will continue as “ BIMB wants to leverage on the existing bancassurance agreements.... At

KUALA LUMPUR: Affin Bank Bhd has obtained the approval from the Ministry of Finance( MoF) on May 6 to dispose of 21% of its equity interest in AXA Affin Life Insurance Bhd( AALI) and 2.95% stake in AXA Affin General Insurance Bhd( AAGI) to Generali Asia N.V. Currently, Affin owns 51.0% in AALI and 49.95% in AAGI. Bernama reported Affin as saying in a statement that it would enter into a share sale agreement with Generali Asia for the AALI and AAGI disposals subject to the satisfaction of the rem

KUALA LUMPUR: CIMB Bank Bhd aims to double the assets under management( AUM) under its preferred segment by 2025 in line with the strong wealth market growth in Asean.It noted that the total Asean wealth market generates an annual revenue of around RM40bil. The lender expected a rapid growth of the market between 2020 and 2025, with a forecast compounded annual growth rate of over 13%.On that note, CIMB Bank and CIMB Islamic Bank Bhd have strengthened their offerings for emerging and affluent cl

KUALA LUMPUR: Wong Partners is advising Generali Asia N.V.on the proposed acquisition of the shares of AXA Affin General Insurance Bhd( AAGI) and AXA Affin Life Insurance Bhd.In a statement on Thursday, Wong Partners which is a member firm of Baker McKenzie International, said it was advising Generali on the purchase of the stakes from AXA Asia, Affin Bank Bhd and several minorities. Wong Partners is also representing Generali in its acquisition of the remaining shares of MPI Generali Insurans B

PETALING JAYA: AMMB Holdings Bhd’s 51% owned subsidiary AmGeneral Holdings Bhd( AGHB) has entered into an agreement with Liberty Insurance Bhd( LIB) for its proposed sale of AmGeneral Insurance Bhd( AGIB). The deal is subject to receiving appropriate regulatory approvals that would subsequently see LIB acquiring a 100% equity stake in AGIB from AGHB for RM2. 29bil, which will be satisfied through a combination of cash and shares. This will then result in AMMB eventually holding a 30% equity inte

KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd have strengthened their offerings for emerging and affluent clients across the ASEAN region and aim to double the assets under management( AUM) under the banking group’s Preferred segment by 2025. The CIMB banking group noted that the total ASEAN wealth market generates annual revenue of around RM40 billion, and is expected to grow rapidly between 2020 to 2025 with a forecast compound annual growth rate of over 13 per cent." As such, the bank

WITH today’s world changing at an accelerated pace, the needs and expectations of the more affluent members of society have also been elevated.As a trusted financial partner, AmBank Signature Priority Banking is thus evolving its services to exceed these increased expectations, by curating only the most remarkable experiences to complement the most highly personalised financial management services for its select clientele. Personalised serviceAs an AmBank Signature Priority Banking client, you c

KUALA LUMPUR: Liberty Mutual will be applying for regulatory approval to acquire Malaysian insurer AmGeneral Insurance Bhd( AmGeneral). Subject to receiving appropriate regulatory approvals, Liberty Insurance Bhd will acquire 100% shares of AmGeneral, while AmBank Group’s share of the sale proceeds will be in the form of cash and consideration shares. AmGeneral is currently 51%-owned by AmBank Group and 49%-owned by Insurance Australia Group( IAG). This will result in AmBank Group holding a 30%