{
  "id": 14929136,
  "title": "RHB Bank seeks more time for Tokio Marine insurance merger talks",
  "url": "https://urgent.news/2026/10/16/rhb-bank-seeks-more-time-for-tokio-marine-insurance-merger-talks",
  "topic": "world",
  "section": "World",
  "published": "2026-10-16T09:58:16.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1556906/rhb-bank-seeks-more-time-tokio-marine-insurance-merger-talks"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: RHB Bank Bhd has requested more time from Bank Negara Malaysia to finalize discussions with Tokio Marine Asia Pte Ltd regarding the proposed merger of their Malaysian insurance businesses. According to a filing with Bursa Malaysia, both parties have made meaningful progress in their negotiations. RHB Bank submitted an application on October 16 to Bank Negara for additional time to finalize the proposed transaction, though the bank did not disclose the exact duration sought. The deal involves the possible sale of up to 100% of RHB Insurance Bhd to Tokio Marine Asia and its integration with Tokio Marine Insurans (Malaysia) Bhd. In return, RHB Bank would maintain an equity stake of up to 35% in the combined insurance entity. RHB Bank had received authorization from Bank Negara to commence negotiations with Tokio Marine Asia on May 11, with a six-month window to conclude the talks, which expires in November. This proposed merger is a new attempt by both entities to merge their general insurance operations, following a failed attempt in 2019. The negotiations recommenced in July 2019, but were terminated in December 2019 due to disagreements on terms. The current proposal is still pending regulatory approvals, including endorsement from the Finance Minister following Bank Negara's recommendation. RHB Bank also maintains a 20-year exclusive bancassurance agreement with Tokio Marine Life Insurance Malaysia Bhd, signed in August 2025, along with a bancruptcyful partnership with Syarikat Takaful Malaysia Keluarga Bhd, both providing RHB Bank with access fees amounting to up to RM1.6 billion over 20 years.",
  "summary": "KUALA LUMPUR: RHB Bank Bhd has sought more time from Bank Negara Malaysia to conclude negotiations with Tokio Marine Asia Pte Ltd over the proposed merger of their Malaysian insurance businesses.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}