News

Insurance

Staff Reporter

, Malaysia

Published:

1 month ago

/Edge2Edge Media from Unsplash

FWD Group becomes majority stakeholder in Malaysian arm

JAB Capital Berhad is no longer a shareholder after the transaction.

FWD Group has completed its additional 21% investment in FWD Takaful Berhad, making it a majority stakeholder.

Its total share in the Malaysian arm is now 70%, with the remaining 30% belonging to Employees Provident Fund, whilst JAB Capital Berhad is no longer a shareholder after the transaction.

ALSO READ: FWD Group extends partnership with Microsoft to boost AI capabilities

The group initially entered the Malaysian market in 2019, focusing on family takaful products.

Subsequently, they established a regional technology and innovation hub in Kuala Lumpur and expanded their offerings to include both family takaful and life insurance solutions with the establishment of FWD Insurance Berhad in 2023.

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