Kurnia shares drop over possible unit sale

KUALA LUMPUR, April 5 — Shares in insurer Kurnia Asia tumbled as much as 3.9 per cent today after Insurance Australia Group won regulatory approval for a possible acquisition of Kurnia Asia’s motor insurance unit.

Insurance Australia Group’s 49 per cent-owned Malaysian associate AmG Insurance Bhd is spearheading the deal for Kurnia Asia’s unit — Kurnia Insurans.

If successful, the acquisition would make AmG the market leader in the Malaysian motor insurance market.

Malaysian lender AMMB Holdings owns the rest of AmG. — Reuters


Please refrain from nicknames or comments of a racist, sexist, personal, vulgar or derogatory nature, or you may risk being blocked from commenting in our website . We encourage commenters to use their real names as their username. As comments are moderated, they may not appear immediately or even on the same day you posted them. We also reserve the right to delete off-topic comments