Malayan Banking announced that it has completed the proposed acquisition of the remaining 30.95% interest in Maybank Ageas Holdings Berhad (MAHB) after signing a share purchase agreement with Ageas Insurance International NV on 8 September 2026.
This follows regulatory approvals from Bank Negara Malaysia that were received on 1 September 2026 for the Proposed Acquisition. MAHB is the holding company for the Etiqa business in Malaysia and Singapore, providing a full range of life and general conventional insurance products as well as family and general takaful products through multi-channel distribution.
President and Group CEO of Maybank, Dato’ Sri Khairussaleh Ramli, said “With MAHB being a wholly owned subsidiary of Maybank, it strengthens Etiqa’s position as a national insurance and takaful champion, driving deeper penetration of Maybank’s customer base. Our focus will be unlocking further value for our customers across Southeast Asia via our regional wealth propositions through cross-selling and delivering more integrated and personalised financial solutions. It will also enhance sustainable and resilient long-term value creation for Maybank with improved capital management within the MAHB group, hence facilitating more effective capital management at the Maybank group level.”
Moving forward, the full ownership provides Maybank and MAHB with greater agility to accelerate product innovation, deepen bancassurance penetration and expand takaful propositions while enhancing capital and operational efficiency across the Group,” added Dato’ Sri Khairussaleh Ramli.
