News - Malaysia: Willis increases stake to 49% in Malaysian business
Source: Asia Insurance Review | Aug 2009
Willis Group Holdings has recently increased its shareholding in its Malaysian business, Willis (Malaysia) Sdn Bhd, from 30% to 49% through the acquisition by Willis Europe BV of a further 19% equity stake from joint venture partner Sindora Berhad. The broker noted that as part of the current deal, it has “bought out Sindora’s shares and will be operating in partnership with Mr Abdullah Zahid, the Managing Director of Willis Malaysia, who now owns 51% of the company.” Mr Zahid has been a Director of Willis since 1991, and has 25 years of experience in the insurance industry.
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