Sun Life Financial Inc. (SLF,SLF.TO) and Khazanah Nasional Berhad Friday said it has completed its acquisition of Malaysian life insurance company, CIMB Aviva Assurance Berhad, and CIMB Aviva Takaful Berhad, a Malaysian takaful company.
Sun Life and Khazanah have each acquired 49 per cent of the Company from Aviva International Holdings Ltd. and CIMB Group Holdings Berhad respectively, with CIMB Group retaining a two per cent share in the company.
The transaction includes an exclusive right to distribute insurance products, including takaful products, through CIMB Bank's network across Malaysia.
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