Tuesday, 16 October 2012


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AIA to expand

AIA Group Limited (“AIA”) has reached agreement with ING to acquire its insurance subsidiaries in Malaysia for a cash consideration of Euro 1.336 billion (US$1.73 billion). The acquisition remains subject to regulatory approval and the execution of the appropriate legal documentation.

Once approved, the acquisition will be immediately accretive to AIA’s earnings and will make AIA the number one ranked insurance provider by total premiums in the high-growth Malaysian market.

Mark Tucker, AIA’s Group Chief Executive and President, said, “This is a compelling and unique opportunity for AIA to further enhance our ability to sustain high-quality growth in the fastest-growing insurance region in the world and in one of the most attractive markets in the region.

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