Resolution firm in talks over Malaysian sale

Insurance giant Resolution said it was in talks to sell its stake in one of Malaysia's biggest life insurers.

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.

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

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