Affin obtains MoF approval to dispose of AALI, AAGI

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

KUALA LUMPUR: Affin Bank Bhd has obtained the approval from the Ministry of Finance (MoF) on May 6 to dispose of 21 per cent of its equity interest in AXA Affin Life Insurance Bhd (AALI) and 2.95 per cent stake in AXA Affin General Insurance Bhd (AAGI) to Generali Asia N.V.

Currently, Affin owns 51.0 per cent in AALI and 49.95 per cent in AAGI.