Maybank to Acquire Ageas Stake in MAHB for EUR 1.1 Billion

Malayan Banking Berhad has agreed to acquire the 30.95% stake held by Ageas Insurance International NV in Maybank Ageas Holdings Berhad, the holding company for the insurer Etiqa. The transaction involves a cash consideration of approximately EUR 1.1 billion, which values 100% of the holding company at roughly EUR 3.5 billion.

The buyout allows the banking group to establish full ownership of the insurer to strengthen its role as a national insurance and takaful champion and expand its regional operations across Southeast Asia. For Ageas, the divestment is projected to generate a net capital gain of approximately EUR 450 million after tax and increase its Solvency II ratio by 25 percentage points.

Bank Negara Malaysia must provide regulatory approval before the deal can close, which is expected to occur in 2026. This move follows a 25-year partnership between the two organizations.