Malaysia’s biggest lender seeks to boost the value of the South-East Asian insurer. — Bloomberg
PETALING JAYA: Malayan Banking Bhd
(Maybank) is considering options including buying out Ageas SA’s minority stake in Etiqa as Malaysia’s biggest lender seeks to boost the value of the South-East Asian insurer, according to people with knowledge of the matter.
Maybank may also seek to replace Belgium insurer Ageas with another minority investor, said the people, asking not to be identified as the deliberations are private. Maybank owns 69% of Etiqa, while Ageas holds the remaining 31%.A potential deal could value Etiqa at as much as US$4bil, the people said. Other options include renegotiating existing bancassurance agreements to help distribute insurance products, they added.
