Green light granted to Allianz to contact HSBC Amanah Takaful
Insurance supervisory authorities have authorized Allianz to start talks with HSBC Amanah Takaful. The subsidiary of the German insurer is interested in a possible merger with its competitor.
Bank Negara Malaysia (BNM), in charge of regulating the insurance market has dispatched an official mail to the parties involved. The latter have been granted a six-month period to reach an agreement. Should talks culminate in any favorable outcome, the Ministry of Finance will provide license.
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