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March 17, 2009

Malaysia’s lender to form insurance jv with Canada’s Sun Life
Malaysia's second-largest lender CIMB Bank and Canada's Sun Life Financial have agreed to form an insurance joint venture in Indonesia, Reuters quoted the Malaysian bank as saying Monday.

As part of the joint venture arrangement, CIMB will sell a 49 percent stake in Indonesia's PT Commerce International to Sun Life Financial for $22.7 million.

The Malaysian lender will control the remaining 51 percent share following the sale.



The joint venture will later be renamed as CIMB Sun Life, which will sell insurance products and services in the $4.7 billion Indonesian insurance market.


 

 

 

 

 

 







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