AMMB secures MoF approval for sale of AmGeneral Insurance to Liberty Insurance

AmBank group CEO Datuk Sulaiman Mohd Tahir

KUALA LUMPUR: AMMB Holdings Bhd’s 51%-owned subsidiary, AmGeneral Holdings Bhd (AGHB) has obtained approval from the Minister of Finance (MoF) for the sale of its wholly-owned subsidiary, AmGeneral Insurance Bhd (AGIB) to Liberty Insurance Bhd (LIB).

The banking group, in a statement, said AGIB is currently 51%-owned by AMMB and 49%-owned by Insurance Australia Group (IAG).