AXA, Affin mull options for Malaysian insurance business worth US$650m

AXA Affin General Insurance is among the top medical and health insurers in Malaysia, with 5,000 agents across the nation.

KUALA LUMPUR: French insurer AXA SA and Affin Bank Bhd are exploring options including a potential sale of their life and general insurance business in Malaysia that could fetch about US$650mil, according to people with knowledge of the matter.

Kuala Lumpur-based Affin Bank and AXA are working with advisers on the potential deal, said the people, who asked not to be identified as the information is private.