Malaysia may give foreign insurers more time to sell stakes

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.

KUALA LUMPUR: Malaysia’s central bank is considering granting extensions to some foreign insurers to give them more time to trim stakes in their local ventures, people with knowledge of the matter said.

Foreign insurers are expected to be given additional time to comply with the ownership limit as long as they submit plans to show they have made progress in their divestment plans, said the people, who asked not to be identified as the process is private.