Insurance regulator, Bank Negara Malaysia, has given an extension to RHB Bank till 11 February 2027 to finalise merger talks with Tokio Marine Asia.
To establish a larger presence in the Malaysian general insurance sector, the two companies plan to merge their operations. Under this proposal, the bank will sell its entire stake in RHB Insurance so it can be absorbed into Tokio Marine Insurans (Malaysia).
Under the proposed arrangement, RHB Bank would retain a stake of up to 35% in the merged entity.
Following BNM's initial approval in May 2026, both parties were granted six months to conclude negotiations. Before signing any binding agreements, the transaction must still clear a final hurdle: a formal recommendation by BNM and subsequent approval from the Minister of Finance.