AIA COMPLETES THE ACQUISITION OF ING MALAYSIA
Source: AIA Group Limited Press Release, 18 December 2012
AIA Group Limited announced it has successfully completed the acquisition of ING Management Holdings (Malaysia) Sdn Bhd following receipt of the required regulatory approvals. ING Malaysia is the third largest insurer in Malaysia, serving more than 1.6 million customers and offering a suite of products including life, general, employee benefits as well as Takaful insurance products through a joint venture. The combined business will transform AIA’s scale and reach to become the market leader in the fast-growing and highly profitable Malaysian life insurance market. In November, AIA announced that it had appointed Bill Lisle, AIA’s Group Chief Distribution Officer, to lead the integration of ING Malaysia with AIA’s business in Malaysia, reporting to Ng Keng Hooi, Regional Chief Executive.