MS&AD explores possible takeover of LPI Capital
Public Bank owns about 44% of the Malaysian insurer, which has a market capitalisation of about RM5 billion.
Japan’s MS&AD Insurance Group Holdings Inc is considering buying Malaysian insurer LPI Capital Bhd as part of its overseas expansion, according to Bloomberg, which cited unnamed people with knowledge of the matter.
Advisers are working with MS&AD on the possible purchase, Bloomberg reported. Discussions remain under way, with no certainty of a transaction. One person cited by the newswire said competing bidders could yet surface.
LPI Capital is controlled by Public Bank Bhd, whose holding stands at about 44% after it bought additional shares in 2024 from the family of its late founder, Tan Sri Teh Hong Piow. The insurer’s latest share price puts its market value at about RM5 billion.
Bloomberg said MS&AD and LPI Capital representatives declined to comment. Public Bank had not immediately answered the newswire’s query.
Other Japanese insurers already have a Malaysian presence. Tokio Marine Holdings has operated in the country for decades, while Mitsui Sumitomo Insurance Co invested in Hong Leong Assurance in 2010. Sompo has partnerships with CIMB Group Holdings Bhd and Berjaya Corp Bhd.
