Allianz, AXA said to submit final offers in CIMB insurance deal
February 22, 2016 by JOYCE KOH, KOMAKI ITO, JONATHAN BROWNING,
(Bloomberg) — Allianz SE, AXA SA and Sompo Japan Nipponkoa Holdings Inc. made final bids for the rights to distribute their general insurance products through CIMB Group Holdings Bhd.’s branches across Asia, people with knowledge of the matter said.
CIMB could fetch about $200 million from the deal, according to the people, who asked not to be identified as the information is private. The so-called bancassurance agreement will allow an insurer to distribute products through CIMB outlets for more than 10 years, two of the people said. Click HERE to read more…