Generali in talks to buy AXA assets in Malaysia

Generali had been looking at a series of AXA assets in Malaysia worth around 700 million euros but the sources said it was in talks to buy the French insurer's non-life business.

MILAN: Italy's biggest insurer Generali is in exclusive talks to buy assets in Malaysia belonging to French rival AXA in a deal worth around 300 million euros ($358 million), two sources said on Tuesday.

The Italian insurer, which is already present in Malaysia, will discuss the deal at a board meeting on Wednesday, the sources said.