AEON Credit gets nod to buy Insurepro

AEON Credit said the acquisition would allow the company to grow its insurance business, which currently contributes less than 5% of its total income.

PETALING JAYA: Aeon Credit Service (M) Bhd has obtained Bank Negara’s approval to acquire a 100% stake in insurance and takaful broking company, Insurepro Sdn Bhd, for a purchase consideration of up to RM1.7mil.

In a statement, AEON Credit said the acquisition would allow the company to grow its insurance business, which currently contributes less than 5% of its total income. The acquisition is expected to be completed by the end of October 2021.