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Article: MAA Holdings changes tack
- Article from:
- New Straits Times
- Article date:
- March 24, 2008
- Author:
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Rupinder Singh
New Straits Times
03-24-2008
MAA Holdings changes tack
Byline: Rupinder Singh
Edition: Main/Lifestyle
Section: Business Times
Type: News
MAA Holdings Bhd (MAAH), an insurance group, has changed its mind and will sell its insurance business separately to get better prices.
The group now plans to sell its general business to AmG Insurance Bhd, the general insurance arm of AMMB Holdings Bhd.
This leaves two suitors for its life insurance business: AXA Asia Pacific Holdings Ltd and Affin Holdings Bhd, and German insurer Allianz Insurance Management Asia Pacific Pte Ltd.
"AXA and Allianz undervalued MAAH's general insurance business," one of the sources told Business Times.
MAAH ...