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).
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