Buletin Takaful 2010

Source: Business Times, 24 March 2008

MAA Holdings Bhd (MAAH) has offered AmAssurance Bhd 10 per cent of its Islamic insurance arm as part of a bigger deal to sell its general insurance business, a source said.

“MAAH has been reeling from solvency issues that turned the company into the red last year. Offering a minor stake in MAA Takaful Bhd (MAAT) would sweeten the deal for AmAssurance,” the source said.

AMMB Holdings Bhd holds 70 per cent of AmAssurance and a similar stake in AmG Insurance Bhd, the group’s general business arm.

MAAH plans to sell its general insurance business to AmG Insurance.

For AMMB, having an Islamic insurance arm would complement its existing Islamic banking business.

Last Tuesday, the central bank gave its nod for talks that could lead to AmAssurance buying a stake in MAAT.

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Source: The Edge Daily, 19 Mac 2008

KUALA LUMPUR: MAA Holdings Bhd has received the go-ahead from the central bank to begin negotiations with AmAssurance Bhd to sell a stake in wholly owned takaful insurance arm MAA Takaful Bhd.

MAA yesterday said that Bank Negara had in a letter dated March 10 given it the green light to commence negotiations with AmAssurance regarding the sale of stake in MAA Takaful.

In a separate announcement to Bursa Malaysia yesterday, AMMB Holdings Bhd said that AmAssurance would commence discussions for the acquisition of an equity stake in MAA Takaful. However, no details were made on the level of equity stake involved.

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