AXA Liabilities Managers to take control of Munich Re Malaysia's non-life portfolio

AXA Liabilities ManagersAXA Liabilities Managers, a company specializing in run-off management, has taken over the non-life portfolio of Munich Re Malaysia. This transaction, whose amount has not been disclosed yet, is the result of an agreement between the Malaysian High Court and the German regulator (Federal Financial Supervisory Authority). The transaction will be effective on October 1, 2019.

The ceded portfolio includes Munich Re's non-life reinsurance business in Malaysia. The German reinsurer will, however, continue to manage the retakaful business. As a reminder, AXA Liabilities Managers acquired the Dubai-based reinsurer Emirates Retakaful in July 2018.

Read also | Life insurance grows moderately in Malaysia

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