Malaysia's about to get real for foreign insurers

Bloomberg quoted Khor as saying during a briefing that the insurer was looking at both the initial public offer and the sale of stake as options.

WHAT'S long been one of the most attractive markets for insurers in Asia is turning ugly.

Malaysia will require overseas insurance firms to jettison at least 30% of their domestic businesses via strategic stake sales or local initial public offerings by the end of June in order to comply with new foreign ownership rules. Companies from AIA Group Ltd to Prudential Plc and Japan's Tokio Marine Holdings Inc are beginning to feel the heat.