Four Foreign Insurers May Bid For Malaysia's Kurnia Asia Unit - Report
22 Septembre 2011 - 5:23AM
Dow Jones News
Malaysia's Kurnia Asia Bhd (5097.KU) may receive four bids for
general-insurance unit Kurnia Insurans (Malaysia) Bhd., the New
Straits Times said Thursday.
It cited unidentified industry sources as saying U.S.-based
Liberty Mutual Group's unit Liberty International Holdings Inc. and
American International Group Inc's (AIG) local unit Chartis
Malaysia Insurance Bhd. are "close to making a bid" for Kurnia
Insurans.
The daily also said Insurance Australia Group Ltd. (IAG.AU) and
German insurer Allianz SE (ALIZF) are potential bidders.
Kurnia Asia wasn't immediately available for comment.
In July, Kurnia Asia said that unnamed parties are interested in
acquiring a stake in its general insurance unit, the largest in
Malaysia, and that the country's central bank has "no objection in
principle" for it to begin preliminary negotiations.
Newspaper website: http://www.nst.com.my
-By Kuala Lumpur bureau; Dow Jones Newswires; 603-2026-1233;
djnews.kldowjones.com
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