RMB on the lookout for new bancassurance partner: report

Deal could be worth over RM1b, sources said.

Malaysia’s RMB is reportedly on the lookout for a new bancassurance partner, as its deal with Japan’s Tokio Marine Holdings is set to expire in 2024, reports Bloomberg, citing anonymous source.

The deal could be worth more than RMB1b, the sources said.

Deliberations are ongoing and RHB could still sign a new pact with Tokio Marine ahead of the expiry, the people said.

ALSO READ: RHB Singapore raises deposit interest rates to up to 5.5%

Tokio Marine Life Insurance Malaysia’s parent had reportedly been looking to sell its life insurance business in Southeast Asia, in a deal that could be valued at $1b (RM4.6b). The bidding has attracted the likes of Dai-ichi Life Holdings and Nippon Life Insurance, Bloomberg said in a separate report.

A Tokio Marine spokesman said nothing has been decided at the moment, while an RHB Bank representative said the company will make an announcement in due course. Both declined to comment further.

Read more from Bloomberg.

Follow the link for more news on

RHB Banking Group

Also Read

Standard Chartered launches digital request quote module Autoquote

Citi launches Token Services for Cash for institutional clients

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit