Deals
Malaysia Mulls Enforcing Cap on Foreign Insurer Ownership
- Central bank weighs applying 70% ownership limit more strictly
- AIA, Great Eastern, Tokio Marine currently hold higher stakes
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Malaysia is weighing tougher enforcement of a cap on foreign ownership of insurers as it seeks to boost local participation in the industry, people with knowledge of the matter said.
The central bank is considering more strictly applying an existing policy that foreign companies owning 100 percent of local insurance firms must pare their stakes to no more than 70 percent, according to the people. It could make an announcement on the matter as soon as this month, the people said, asking not to be identified because the information is private.