Monday, December 19, 2011

Kurnia Asia proposes to sell Kurnia Insurans to AmG Insurance

KUALA LUMPUR (Dec 19): KURNIA ASIA BHD [] plans to sell its insurance unit, Kurnia Insurans (Malaysia) Bhd to AmG Insurance Bhd.

It said on Monday it had submitted an application to Bank Negara Malaysia (BNM) for the Minister of Finance's approval under the Insurance Act 1996.

Kurnia Asia said the approval was to review the proposal to sign an agreement with AmG Insurance -- the insurance division of the AmBank group -- to dispose of the stake.


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