The parties have six months to conclude negotiations and market analysts believe a deal appears more credible than RHB Bank’s earlier, unsuccessful attempt in 2019.
The tie-up will also include community education and outreach aimed at improving understanding of Takaful and boosting financial literacy among underserved groups.
Decline follows lower MGA volumes, with management focused on reducing volatility in both the domestic nonvoluntary cession and overseas business segments.
The RM1.6 billion (US$377.67 million) agreement settles a legal dispute between the two firms and includes a separate arrangement with Takaful Malaysia.
