KUALA LUMPUR: US insurer ACE Ltd has agreed to buy Malaysian non-life insurer Jerneh Insurance Bhd for RM654mil from Jerneh Asia Bhd and Paramount Corp Bhd, which own 80% and 20% of the insurance company respectively.
Jerneh Asia and Paramount told Bursa Malaysia that the Finance Ministry had approved the sale to ACE INA International Holdings, a unit of the ACE group.
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