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RHB Capital likely to offload or reduce interest in insurance unit

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Malaysia's RHB Capital Bhd. is likely to offload or reduce interest in its insurance arm, RHB Insurance Bhd., as it undertakes major restructuring, The Star Online reported.

RHB Insurance accounts for only 3% of the group's earnings, sources said. "The disposal of the insurance arm will facilitate profit growth and better drive capital and tax efficiency moving forward," a source said. The insurance unit's gross premium income totaled 536 million Malaysian ringgits ($147.5 million) in 2013.

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