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Bank Negara: Divesting stakes by foreign insurers agreed earlier


The central bank said on Thursday the rationalisation of the stake related to specific commitments given by the foreign insurers concerned when they applied for entry into the Malaysian insurance market.

The central bank said on Thursday the rationalisation of the stake related to specific commitments given by the foreign insurers concerned when they applied for entry into the Malaysian insurance market.

KUALA LUMPUR: Bank Negara Malaysia expects foreign insurers to honour their commitments to rationalise their stakes in their local units, adding this was not a new directive or new foreign ownership rule.

The central bank said on Thursday the rationalisation of the stake related to specific commitments given by the foreign insurers concerned when they applied for entry into the Malaysian insurance market.

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