RHB to offload insurance unit to Tokio Marine

Malaysia-based RHB Bank Berhad plans to sell up to 95% of its stake in its general insurance unit to Japanese insurer Tokio Marine Holdings Inc.'s subsidiary by the end of the first quarter of 2020, Reuters reported. Khairussaleh Ramli, the bank's group managing director, said that RHB has received the central bank's approval to commence talks to sell its stake to Singapore-based Tokio Marine Asia Pte Ltd.

Read more.