Alliance Financial Group Bhd yesterday informed the Bursa in a filing that it is disposing its 30% interest in AIA AFG
Takaful Bhd to American International Assurance Bhd (AIA) for RM45 million.
The joint venture conducts family takaful business and it has reportedly brought in more than 6,000 cases, with new premiums in the region of about RM20 million during its fi rst 10 months in 2011.
But, given the recent slew of insurance investments within Asia, the stake buy back by AIA could be considered a steal — seeing how it agreed to pay US$1.7 billion (RM5.23 billion) for ING Group NV’s Malaysia life insurance operations last October.
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