Wong & Partners has advised Zurich Insurance Company on its 525 million ringgit ($130 million) acquisition of Malaysia’s MAA Takaful Berhad from MAA Group Berhad and Solidarity Group Holding BSC, which were represented by Cheang & Ariff.

MAA Takaful is one of Malaysia's 11 Islamic insurers, holding 1.2 billion ringgit worth of assets as of June 2015. This transaction represents Zurich Insurance's maiden entry into the Malaysian takaful market and is anticipated to allow it greater access to core markets in the Gulf and Southeast Asia.

The Wong & Partners team on the transaction was led by partners Brian Chia and Sue Wan Wong.

 

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