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Friends Prov takes 30 per cent stake in Malaysian life office

Friends Provident has agreed a deal to acquire a 30 per cent stake in a Malaysian life business for £30m.

The stake in AmLife Insurance Berhad will help Friends Provident grow its presence in Asia.

Chief executive Trevor Matthews says: “I am excited about our new investment in Malaysia, which positions us well to participate in the many opportunities in this market.

“This is further evidence of our commitment to international growth in general and to Asia in particular.

“It is a modest investment but an important strategic development.”

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