People familiar with the matter revealed that Maybank Limited is about to reach a deal to acquire a minority stake in Etiqa held by Belgian insurer Ageas Group. After the deal is completed, Malaysia's largest bank will wholly own the Southeast Asian insurance company. People familiar with the matter said that the bank listed in Kuala Lumpur is often referred to as Maybank for short. The bank is finalizing the details of the transaction with Ageas and will announce the relevant news as soon as Monday. Since the details of the negotiations have not been disclosed to the public, relevant sources requested anonymity. Currently Maybank holds 69% of Etiqa's shares, with Ageas holding the remaining shares. According to people familiar with the matter, the shares held by Ageas are valued at around $1.2 billion. Based on this estimate, Etiqa's overall valuation is around $4 billion.

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