Maybank has agreed to purchase the remaining stake in Etiqa’s holding company from Belgian insurer Ageas for RM4.83 billion, according to The Edge Malaysia.
The transaction, reported on Monday, will give Maybank full ownership of the holding company that controls Etiqa, its insurance and takaful arm. The Edge Malaysia did not specify the exact stake size or the closing timeline in the available summary.
The deal marks the end of Ageas’ involvement in Etiqa’s corporate structure. Maybank had previously held a majority interest in the holding company, with Ageas retaining a minority position. The Edge Malaysia’s report indicates the purchase removes that remaining minority shareholding.
Financial terms beyond the headline price were not disclosed in the summary. The Edge Malaysia’s coverage focuses on the transaction value and the change in ownership structure.
For Maybank, the move consolidates its control over a core financial services business. Etiqa operates across Malaysia and several other markets in the region, offering general and life insurance as well as family takaful products.
The acquisition is subject to regulatory approvals, though The Edge Malaysia’s report did not detail which authorities must sign off. Investors will likely watch for confirmation of those approvals and any impact on Maybank’s capital position in the coming months.
