Strong business: Analysts say the reason HLFG is selling its insurance business is to boost its non-interest income segment from fee income generated by a lucrative bancassurance deal.
PETALING JAYA: The sale of Hong Leong Assurance Bhd (HLA) and Hong Leong MSIG Takaful Bhd equity stakes could attract high valuations amid the challenging economic and investment climate.
Analysts and industry observers told StarBiz that valuations for the stakes are expected to be more than three times price-to-book-value which were considered high in the current economic environment with stiff competition in the insurance sector.
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