Generali will end up with 70% stakes in both the AXA Affin Life Insurance joint venture and AXA Affin General Insurance, the latter after integration with the general insurance JV, MPI Generali Insurans Berhad, which it already shares with another Affin unit. 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.