Q1FY23 Results - Investor Presentation
Disposal of AmGen
| Disposal of AmGen - Overview
Corporate Structure - Before and After disposal
AMMB
AMMB
IAG
100%
51%
49%
AGHB
100%
AGIB
AGHB
30%
Existing structure
Notes:
"
AMMB: AMMB Holdings Bhd
AGHB: AmGeneral Holdings Bhd
ā AGIB: AmGeneral Insurance Bhd ("AmGen")
LMIC
70%
Combined
businesses of
AGIB & LIB
Final structure
IAG: IAG International Pty Ltd
Gain / (Loss) on Disposal
RM'mil
Position at
Total consideration (cash & shares)
Net assets disposed (before goodwill)
Gain on Disposal (pre-goodwill)
Goodwill from Kurnia's acquisition
Transaction expenses
Net Loss on Disposal
Attributable to shareholders of AMMB
Attributable to non-controlling interests (IAG)
30 June 22
2,362.6
(1,668.1)
694.5
(778.9)
(20.0)
(104.4)
4.8
(109.2)
(104.4)
"
LIB: Liberty Insurance Bhd
LMIC: Liberty Mutual Insurance Company
Impact to capital ratios (without TA)
CET 1
1.
AMMB disposed AGIB to LIB for a total consideration of RM2,363 million*
2.
3.
4.
IAG exits completely. AMMB and LIB own 30% and 70% equity interest respectively
in the combined AGIB/LIB business
AMMB received RM304 million* cash consideration and 30% equity interest valued
at RM959 million*
AMMB to account for this 30% equity interest as an associate undertaking
5.
AMMB entered into a 20-year bancassurance partnership with LIB
* Numbers updated to reflect position as of 30 June 2022
AmBank Group
Q1FY23 Results - Investor Presentation
+ 0.25%
TCR: 15.48%
TCR: 15.73%
11.96%
12.21%
Q1FY23
Proforma Q1FY23
Notes: TCR = Total Capital Ratios
1.
FHC CET1 is expected to improve by approximately 0.25%
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