Life & Health Insurance M&A » By The Online Investor Staff, updated Fri., Jun. 9, 7:00 AM
Recent mergers and acquisitions in the Life & Health Insurance M&A category.
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Slide #9. Manulife Holdings Berhad — MAAKL Mutual Bhd
Acquirer:
Manulife Holdings Berhad (NYSE:MFC)
Acquiree:
MAAKL Mutual Bhd
Details:
Manulife Holdings Berhad ("MHB"), part of Canada-based Manulife Financial, today announced that it has entered into an agreement with MAA Group Berhad and other shareholders to acquire 100 per cent of its subsidiary MAAKL Mutual Bhd ("MAAKL"), one of Malaysia's successful unit trust companies. The deal is expected to close within the next two months, subject to regulatory approval. This acquisition will increase MHB's total assets under management to RM7 billion, elevating MHB's unit trust assets to become one of the Top 10 largest in the country.
Manulife Financial is a holding company. Through its subsidiaries, Co. is a life insurance company. Co.'s four operating segments are: Asia, which includes a range of health, protection, savings, medical, term and whole life products; Canada, which provides life, health, disability and specialty products, such as mortgage creditor and travel insurance; U.S., which provides a range of life insurance products, insurance-based wealth accumulation products, and has an in-force long-term care insurance business and an in-force annuity business; and Global Wealth and Asset Management, which provides investment advice and solutions to retirement, retail and institutional clients.
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