Generali to buy rival Axa Malaysia insurers in 'transforming' strategic move

Mark Battersby
clock • 4 min read

Assicurazioni Generali has agreed to buy rival Axa's insurance assets in Malaysia for a consideration of RM 1,290m (€262m) in a key strategic push into the region. The deal announced today (22 June) will see Axa sell its stake of 49.99% in Axa Affin General Insurance and its 49% of Axa Affin Life Insurance. The acquisitions will position Generali as one of the top insurers in the Malaysian market, creating the second P&C insurer by market share and entering the country's life insurance sector. Generali will acquire a 70% stake in Axa Affin Life Insurance joint venture (49% from AXA...

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