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IAUGY Insurance Australia Group Ltd (PK)

24.0532
0.00 (0.00%)
04 Nov 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Insurance Australia Group Ltd (PK) USOTC:IAUGY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 24.0532 23.55 25.30 27 21:02:46

Four Foreign Insurers May Bid For Malaysia's Kurnia Asia Unit - Report

22/09/2011 4:23am

Dow Jones News


Insurance Australia (PK) (USOTC:IAUGY)
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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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