RHB Banking Group has established bancassurance and bancatakaful partnerships with Tokio Marine Life and its takaful affiliates-Syarikat Takaful Malaysia Keluarga (STMKB) and its wholly owned subsidiary, Syarikat Takaful Malaysia Am (STMAB) (together referred to as "Takaful Malaysia").
These collaborations have been formalised through separate Distribution Agreements: one between RHB Bank and Tokio Marine Life, and another between RHB Islamic and Takaful Malaysia.
In addition, all parties have entered into a Framework Agreement to govern the overall partnership.
Under the Distribution Agreements, RHB will have exclusive rights to sell, market, distribute and promote conventional life insurance, family takaful and general takaful products developed by Tokio Marine Life and Takaful Malaysia in Malaysia.
These agreements are supported by a Framework Agreement, which outlines the joint operating and governance structure for the long-term partnerships.
The exclusivity spans 20 years starting from 1 August 2025, with a Total Access Fee of up to RM1.6bn ($340m) payable to RHB.
This fee reflects the expected volume of insurance and takaful business RHB will generate throughout the partnership, leveraging its branch network and digital platforms. The arrangement is anticipated to contribute positively to the Group’s profit before tax.