My Story, IAG’S Malaysian arm to acquire business rival

MELBOURNE: Insurance Australia Group's Malaysian associate plans to become that country's largest motor insurer through a takeover.

The move, which still require regulatory approval, would further progress IAG's strategy to grow its presence in Asia, the Australian Associated Press said.

IAG last week increased its market leading position in New Zealand's general insurance market with the $NZ380 million (RM919.6 million) takeover of the AMI insurance business.

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