ACR completes acquisition of Malaysia and ReTakaful subsidiaries

Risk Solutions group ACR Capital Holdings has completed the acquisition of its Asia Capital Re Malaysia and ReTakaful subsidiaries.

ACR previously held 30 and 20 percent of ACR Malaysia and ACR ReTakaful, respectively.

The move comes months after the company was acquired by two Chinese investment funds.

Hans-Peter Gerhardt, ACR Group chief executive, said: "At this juncture of ACR’s evolution and in response to the anticipated long-term development of our industry, we see the need to be able to support our clients in Asia in the most seamless way possible.

"The consolidation of all these ACR-branded entities fully under the ACR group is part of our long-term strategy to enhance the client benefits and operational efficiency of all ACR entities so they may be able to grow and move as one unit. The ultimate goal is to build a strong and coherent ACR group of companies for all our clients in Asia and the Middle East."

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