AMMB Holdings Bhd has obtained Bank Negara Malaysia’s nod to begin talks with Friends Life FPL Ltd to repurchase the 30% stake held by Friends Life in the two joint ventures (JVs), namely AmLife Insurance Bhd (AmLife) and AmFamily Takaful Berhad (AmTakaful).
“The proposed repurchase allows both AMMB and Friends Life to pursue separate strategies to enhance our respective businesses. AMMB remains committed to the continued growth of AmLife and AmTakaful,” AMMB chairman Tan Sri Azman Hashim said………………………………………..Full Article: Source