Affin Bank will hold 30% of both the Life and General Insurance businesses and have exclusive rights for bancassurance sales for conventional general and life products. The units will rebrand to " Generali Malaysia" in early 2023. Generali hails the move as emblematic of its drive to "strengthen its leadership position in high potential markets." "The acquisitions position Generali as one of the leading insurers in the Malaysian market and will allow Generali to access the country's Life insurance segment," management wrote in its statement.