KUALA LUMPUR: Malayan Banking Bhd
(Maybank) has completed the proposed acquisition of the remaining 30.95 per cent interest in Maybank Ageas Holdings Bhd after signing a share purchase agreement with Ageas Insurance International NV (Ageas) on Sept 8, 2026.
In a statement today, the bank said it completed the acquisition after receiving regulatory approval from Bank Negara Malaysia (BNM) on Sept 1, 2026.
Maybank Ageas is the holding company for the Etiqa business in Malaysia and Singapore, providing a full range of life and general conventional insurance products as well as family and general takaful products through multi-channel distribution.
Maybank president and group chief executive officer Datuk Seri Khairussaleh Ramli said the acquisition's completion was a major milestone for the bank as it continues to advance Etiqa's ambition to be a national champion, expand across Southeast Asia and build a global takaful powerhouse under ROAR30.
"With Maybank Ageas being a wholly owned subsidiary of Maybank, it strengthens Etiqa's position as a national insurance and takaful champion, driving deeper penetration of Maybank's customer base.
"Our focus will be unlocking further value for our customers across Southeast Asia via our regional wealth propositions through cross-selling and delivering more integrated and personalised financial solutions," he added.
Meanwhile, the bank said Maybank Ageas is expected to remain well-positioned to capture growth opportunities in the insurance and takaful sector, supported by Maybank's extensive customer base and distribution network, and the increasing market demand for more integrated and personalised protection solutions. - Bernama
