KUALA LUMPUR: Zurich Insurance Group AG is working with advisers to cut its stake in its Malaysian life insurance unit, people with knowledge of the matter said, joining a wave of foreign players planning over US$2bil (RM7.83bil) of such deals in the country.
The Swiss insurer is considering options including a possible stake sale or domestic initial public offering of the business, which would help it comply with a 70% limit on foreign ownership, according to the people.
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