Insurance giant Resolution said it was in talks to sell its stake in one of Malaysia's biggest life insurers.
The firm's Friends Life business is discussing the sale of its 30% stake in AmLife Insurance Berhad and AmFamily Takaful Berhad back to its joint venture partner, Malaysia's AmBank Group.
Friends Life entered the AmLife joint venture in 2008.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
AmLife is one of Malaysia's top ten life insurers and Friends Life's 30% interest in AmLife had an 'MCEV' of £38m at the end of June.
MCEV- or Market Consistent Embedded Value - is an accounting technique that insurers use as a standardised measure to enable comparisons of their balance sheets.
MM
-
Barclays warns of significant rise in social media investment scamsInvestment scam victims are losing an average £14k, with 61% of those falling for one over social media. Here's how to spot one and keep your money safe
-
Over a thousand savings accounts now offer inflation-busting rates – how long will they stick around?The rate of UK inflation slowed again in March, boosting the opportunity for savers to earn real returns on cash in the bank. But you will need to act fast to secure the best deals.
