Malaysian bank to sell insurance business to Tokio Marine

Posted On: Aug. 1, 2019 5:54 AM CST

Malaysia's RHB Bank Berhad has received approval from the central bank to initiate talks to sell nearly 95% of its general insurance arm to Singaporean insurer Tokio Marine Asia Pte. Ltd., Reuters reported. The deal is subject to approval from the central bank and the Ministry of Finance.