LIFE insurers, especially those with foreign stakeholders are laying the groundwork and making ambitious plans to invest abroad, following Bank Negara's move to liberalise, from April 1, the foreign exchange administration rules to allow the net asset value limit for overseas investment to be raised to 30% from 10% previously.
Prudential Assurance (M) Bhd chief executive officer (CEO) Ng Keng Hooi said in collaboration with the global fund management arm of parent company, Prudential plc, the company had already initiated actions to develop a new investment-linked fund that would invest abroad.
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