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NewsAustralia’s IAG seeks nod for Kurnia deal
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Australia’s IAG seeks nod for Kurnia deal
by hlk Tue 20 Dec 2011, 13:38
SYDNEY: Insurance Australia Group said its 49 per cent-owned
Malaysian associate, AmG Insurance Berhad, is seeking regulatory
approval to acquire Kurnia Insurans (Malaysia) Berhad to make it the
market leader in the Malaysian motor insurance market.
If
the deal was approved, IAG said in a statement it would fund its share
of the purchase price from internal resources and, on a pro forma 30
June 2011 basis, would retain a regulatory capital position above its
long term benchmark of 1.45 to 1.50. - REUTERS
Malaysian associate, AmG Insurance Berhad, is seeking regulatory
approval to acquire Kurnia Insurans (Malaysia) Berhad to make it the
market leader in the Malaysian motor insurance market.
If
the deal was approved, IAG said in a statement it would fund its share
of the purchase price from internal resources and, on a pro forma 30
June 2011 basis, would retain a regulatory capital position above its
long term benchmark of 1.45 to 1.50. - REUTERS
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