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Malaysia may give foreign insurers more time to sell stakes


Singapore’s Great Eastern Holdings Ltd and Japan’s Tokio Marine Holdings Inc were also among those weighing deals to cut local stakes, people familiar said last year.

Singapore’s Great Eastern Holdings Ltd and Japan’s Tokio Marine Holdings Inc were also among those weighing deals to cut local stakes, people familiar said last year.

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.

   

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