Liberty Mutual Insurance completes acquisition of Malaysian insurer AmGeneral

Liberty Insurance Berhad (LIB), the Malaysian subsidiary of the American group Liberty Mutual Insurance, has been granted regulatory approval to acquire AmGeneral Insurance Berhad (AmGeneral), an insurance company based in Kuala Lumpur, Malaysia from AMBank.

As part of the transaction, the operations of both AmGeneral and LIB will soon be combined to create Malaysia's largest motor insurer and one of the leading non-life insurers.

The merged entity will enter into a 20-year bancassurance partnership with AmBank to distribute non-life insurance products.