AIA COM­PLETES THE AC­QUI­SI­TION OF ING MALAYSIA

Source: AIA Group Lim­ited Press Re­lease, 18 De­cem­ber 2012

Insurance - - COMPANY CORNER -

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.

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