Affin, Generali to co-develop more than RM2bil GWP insurance business

Affin president and group chief executive officer Datuk Wan Razly Abdullah Wan Ali

KUALA LUMPUR: Affin Bank Bhd and Generali Asia N.V. (Generali) have agreed to form a joint venture to develop their life and general insurance businesses in Malaysia.

In a statement today, Affin said it has agreed to dispose of 21.00 per cent equity interest in AXA Affin Life Insurance Bhd and approximately 2.95 per cent equity interest in AXA Affin General Insurance Bhd (AAGI) to Generali.