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MNRB’s Labuan Re acquisition to strengthen reinsurance focus and boost international growth
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MNRB’s Labuan Re acquisition to strengthen reinsurance focus and boost international growth
MNRB Holdings Berhad, a Malaysian investment holding company, has announced a conditional share purchase agreement to acquire the remaining 80% equity interest in Labuan Reinsurance (L) Ltd for approximately USD100.69 million in cash. Currently, Labuan Re operates as an associate company of Malaysian Reinsurance Berhad, MNRB’s wholly-owned subsidiary, which holds a 20% stake. Following the completion of the transaction, Malaysian Re will retain …
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