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KUALA LUMPUR, Dec 6 (Bernama) -- In line with consolidation in the insurance industry, MBf Insurans Berhad (MBfI), a wholly-owned subsidiary of MBf Capital Berhad, will merge with QBE Insurance (Malaysia) Berhad (QBEM), a wholly-owned subsidiary of QBE Insurance (International) Limited (QBE).
A business Merger Agreement for the proposed merger of MBfI and QBEM have been entered into by MBf Capital, MBfI, QBE Insurance Group Limited (QBEI), QBEM and QBE today, said Alliance Merchant Bank Berhad on behalf of MBf Capital.
QBEI is the parent company of QBE.
The proposed merger is expected to be completed within three months from today, said Alliance, …