(Re)in Summary
- Bank Negara Malaysia (BNM) has granted RHB Bank an extension until 11 February 2027 to conclude negotiations with Tokio Marine Asia on the proposed insurance transaction.
- The proposal, announced in May, involves the disposal of up to 100% of RHB Insurance Berhad and its integration with Tokio Marine Insurans (Malaysia) Berhad.
- RHB Bank is expected to retain up to a 35% equity interest in the enlarged integrated insurer following completion.
RHB Bank has secured additional time from Bank Negara Malaysia (BNM) to continue negotiations with Tokio Marine Asia on a proposed transaction involving its insurance subsidiary, RHB Insurance Berhad, according to a stock exchange filing on 22 October.
The Malaysian banking group, which applied for more time on 16 October, said BNM gave it until 11 February 2027 to conclude talks on the deal, first announced in May, to sell up to 100% of RHB Insurance and merge it with Tokio Marine Insurans (Malaysia) Berhad.
The proposed transaction would create an enlarged integrated insurer, with RHB Bank expected to retain up to a 35% equity stake in the combined entity.
RHB Bank said further developments relating to the proposal will be announced in due course.
The latest proposal represents RHB Bank’s second attempt to combine its insurance operations with Tokio Marine’s Malaysian business. Discussions on a similar transaction began in 2019 but were terminated later that year after the parties failed to reach agreement on commercial terms.
RHB Banking Group already has a partnership with Tokio Marine in Malaysia. In August 2025, it signed an exclusive 20-year bancassurance agreement with Tokio Marine Life Insurance Malaysia, ending a dispute between the two over distribution rights.
