RHB Bank Gets Approval to Start Talks With Japan's Tokio Marine on Insurance Deal
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RHB Bank has received approval from Bank Negara Malaysia to initiate discussions with Tokio Marine regarding the potential sale of its insurance business. The talks, which have a six-month timeframe, could lead to RHB selling its entire stake in RHB Insurance to Tokio Marine, allowing RHB to retain up to a 35% stake in the merged entity. Analysts view this merger as beneficial, potentially creating Malaysia's fifth-largest general insurer and addressing foreign ownership challenges for Tokio Marine. Previous merger attempts in 2019 were unsuccessful, but prospects appear stronger this time.
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