KUALA LUMPUR, April 5 (Reuters) - Shares in Malaysian insurer Kurnia Asia tumbled as much as 3.9 percent on Thursday after Insurance Australia Group won regulatory approval for a possible acquisition of Kurnia Asia’s motor insurance unit.
Insurance Australia Group’s 49 percent-owned Malaysian associate AmG Insurance Bhd is spearheading the deal for Kurnia Asia’s unit -- Kurnia Insurans.
If successful, the acquisition would make AmG the market leader in the Malaysian motor insurance market.
Malaysian lender AMMB Holdings owns the rest of AmG. (Reporting by Niluksi Koswanage)