Synergistic integration in the insurance industry

PETALING JAYA: AMMB Holdings Bhd and MetLife International Holdings LLC are disposing of their life insurance and takaful businesses to Great Eastern, for RM1.12bil, about a year after AMMB’s general insurance unit merged with Liberty Insurance Bhd.

AMMB, which is the holding company of AmBank, announced that AmMetLife Insurance Bhd (AML) would merge with Great Eastern Life Assurance (M) Bhd (GELM), post-completion of the sale while AmMetLife Takaful Bhd (AMT) would merge with Great Eastern Takaful Bhd (GETB).The parties involved would need to secure the necessary regulatory approvals before proceeding with a sale and purchase agreement.