HSBC Insurance completes stake sale in Malaysia

Pedro Gonçalves
clock • 2 min read

FWD Group has completed the purchase of HSBC Insurance's 49% stake in HSBC Amanah Takaful (Malaysia) Bhd. As a result, FWD is now the largest shareholder in the Islamic insurance joint venture, which will be renamed as FWD Takaful Bhd, a statement from the Hong Kong-headquartered insurer said. FWD Group has appointed Salim Majid Zain as chief executive officer (CEO) of the Malaysian firm, which has been renamed FWD Takaful. Mr. Salim was previously CEO of Zurich Takaful Malaysia, the Islam...

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